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The purpose of this paper is to discuss a resource‐based approach for exploring micro‐firm management practice, as informed by the relevant literature. Specifically, the…
The purpose of this paper is to discuss a resource‐based approach for exploring micro‐firm management practice, as informed by the relevant literature. Specifically, the paper analyses available literature and catalogues micro‐firm and managerial competence criteria in pursuit of managerial insights in this environment.
A comprehensive literature review precedes the conceptualisation of micro‐firm management practice.
Literary findings suggest that, considering micro‐firms' internal resource constraints, minimal environmental power, and owner‐centred culture, it is vital for these organisations to embed their valuable resource in their core business strategy, to ensure survival in the longer term. Furthermore, there is an assumption that knowledge must be used optimally within the micro‐firm by developing the analytical and critical skills of individuals, groups and the entire organisation so as to sustain and grow these firms' competitive advantage. Having identified and catalogued a range of factors that impact micro‐firms, the authors propose a “resource taxonomy of micro‐firm management practice”, which establishes factor interaction and the interrelationships between each resource in this environment. The purpose of this taxonomy is to assist in the analysis of management practices in the micro‐firm milieu.
The authors go on to discuss taxonomy implications for micro‐firm training policy and propose further exploration of micro‐firm management practice and resource‐based research in this environment.
Academic research, which focuses specifically on the micro‐firm, has historically been rare, despite multiple calls to study these firms in their own right. By proffering a “resource taxonomy of micro‐firm management practice”, the authors seek to inform this neglected research area.
A rise in international travel leads to increased competitiveness in the hotel industry. The purpose of this paper is to examine the moderating effect of social networking…
A rise in international travel leads to increased competitiveness in the hotel industry. The purpose of this paper is to examine the moderating effect of social networking relationships on the association between innovative capability (IC) and firm performance in Ghana’s hotel industry.
Data are collected from managers of 200 registered hotels in the northern region of Ghana. Data were collected by means of a structured questionnaire, with variables measured on a seven-point Likert scale.
The findings reveal a mixture of confirmation for the relationships hypothesized in this study. IC influences the financial as well as the operational performance of hotels and guesthouses in Ghana. Social network relationships have a slight tendency to positively impact on business performance. Network relationships with the community leaders enable hotels to gain knowledge from local communities to build its IC. Social networking with political leaders does not moderate the relationship between IC and performance.
The findings provide empirical support for the viability and performance benefits of developing IC, so as to inform management interventions. It is focused on Sub-Saharan Africa specifically, where managers in the hospitality industry need to find new approaches to develop IC in order to remain competitive. The potential contribution of this study lies in the moderating role that IC plays in the relationship between different types of social networking relationship and performance of hotels.