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The aim of this article is to investigate the determinants of the performance of small and medium-sized enterprises in emerging markets: evidence from Vietnam.
Abstract
Purpose
The aim of this article is to investigate the determinants of the performance of small and medium-sized enterprises in emerging markets: evidence from Vietnam.
Design/methodology/approach
This article relies on the resource-based view to examine the factors affecting the performance of small and medium-sized enterprises in emerging markets. The method employed in the research is the generalized method of moments for testing hypotheses of data collected from the General Statistics Office of Vietnam in the period of 2013–2016.
Findings
The results show that factors such as the intensity of capital investment, age and size of the firm, labor productivity, foreign ownership, location, cost management effectiveness and export activities have a positive effect on the performance of Vietnamese small and medium-sized enterprises, while revenue growth rate, fixed assets and financial leverage tend to hinder their performance. This has brought important messages that the input markets and the business environment in emerging markets like Vietnam have not yet stimulated well-economic activities.
Originality/value
This study sheds light on a topic that has not been fully explored in small and medium-sized enterprises in emerging markets in general, and Vietnam in particular. Specifically, small and medium-sized enterprises in emerging markets reconfigure available resources and strengthen internal capabilities to overcome barriers of the shortages of strategic, rare and irreplaceable resources in order to improve their performance. This is a unique contribution to the existing literature and highlights the original value of this article.
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Shiaw‐Wen Tien, Yi‐Chan Chung, Chih‐Hung Tsai, Chia‐Hsiang Hsieh and Hung‐Hsi Chen
This research probes into the execution of small and medium‐sized enterprises’ value creativities by a difference analysis with different classifications, different capital…
Abstract
This research probes into the execution of small and medium‐sized enterprises’ value creativities by a difference analysis with different classifications, different capital, different turnover, different employees, and different established years. This study develop a questionnaire about value creativity with five dimensions and thirty‐five items according to “Valuation” by McKinsey and Company, Inc. and Copeland et al., such as: “Aspiration and target,” “Portfolio management,” “Organization design,” “Process management,” and “Business and individual performance management.” The results are as follows: (1) Most small and medium‐ sized enterprises (SMEs) have executed value creativities; (2) There is a difference in the execution of value creativities between the livelihood industry and the chemical industry; the execution of value creativities by livelihood industry is better than the chemical industry; (3) For value creativities of the execution of different capital and turnover for SMEs, bigger entities are better than smaller ones; (4) For the value creativities of the execution of different numbers of staff in SMEs, those with more staff are better than those with fewer staff; (5) For the value creativities of the execution of different established years for SMEs, those established longer are better than those established shorter.
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Caroline Nicholas and Michael Fruhmann
This paper will consider the rationale and effectiveness of SMEsupport policies in the award of public procurement (PP) contracts. One group of economic justifications for SME…
Abstract
This paper will consider the rationale and effectiveness of SMEsupport policies in the award of public procurement (PP) contracts. One group of economic justifications for SME policies derives from the notion that awarding PP contracts to SMEs (and micro-enterprises) encourages innovation, entrepreneurship and so contributes to job creation, economic growth and can support local and regional developments to the benefit of wider society. The link between SMEs, innovation and economic growth has often been assumed in PP policy-making. While some studies show higher growth rates in small than larger firms, others indicate, to the contrary, that many micro and small enterprises, and particularly informal businesses, are not actively seeking to grow. This paper will assess how effective SME policies may be, and questions the extent to which they are properly evaluated.
Lorenzo Zanni, Barbara Aquilani and Michela Magliacani
The purpose of this paper is to examine the performance evolution of enterprises in Italian industrial districts. In particular, economic performance indicators are analysed for…
Abstract
Purpose
The purpose of this paper is to examine the performance evolution of enterprises in Italian industrial districts. In particular, economic performance indicators are analysed for Arezzo goldsmith enterprises, to highlight: differences in the goldsmith local systems performances; the role played by firm size in the evolution trajectories; and the emergence of a medium‐sized nucleus of firms with better performance.
Design/methodology/approach
The paper first conducts a brief literature review on medium‐sized firms in Italian industrial districts. Then it examines the economic‐financial indicators of 183 Arezzo goldsmith firms to evaluate firm performance in comparative terms both with other Italian industrial districts and with firm size. Finally it focuses its attention on 15 medium‐sized firms or groups, carrying out a statistical analysis by organizational model comparing the aggregate data of the Arezzo goldsmith district.
Findings
The results regarding the Arezzo experience show: a reduction of competitive capabilities compared with other industrial districts; considerable difficulties for both small enterprises and the historical large firm leader; and the emergence of a medium‐sized firm nucleus which seems better able to manage a changing competitive environment.
Research limitations/implications
The main implication for researchers and SME (small to medium‐sized enterprises) consultants is that the selection process currently in play among Italian industrial districts and local enterprises appears to reward only certain entrepreneurial categories. Findings of this exploratory study need future research both at an inter‐industry level and with international comparative analysis.
Originality/value
Medium‐size firms represent a new area of research on SMEs. Empirical evidence supports the research hypothesis.
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The prevailing view in the existing literature is that open innovations (OI) increase the innovative performance of enterprises. The author examines whether the same OI practices…
Abstract
Purpose
The prevailing view in the existing literature is that open innovations (OI) increase the innovative performance of enterprises. The author examines whether the same OI practices are equally important for sole entrepreneurs, micro firms, small firms, medium-sized and large enterprises in introducing radical innovations and which set of OI practices is best for a firm, given the firm's size.
Design/methodology/approach
In this study probit models were used on a sample of 915 innovative Serbian enterprises.
Findings
OI is important for all enterprises introducing radical innovations. However, not all OI practices are equally effective in each enterprise size group. The set of OI practices leading to radical innovations depends on the firm size. Cooperation with others is not important for sole entrepreneurs and micro and large companies in introducing radical innovations. Still, cooperation's role is predominant in small and medium-sized enterprises. Also, certain OI practices are important for all enterprises, whilst others do not contribute to radical innovations, regardless of the firm size.
Practical implications
Owners/managers can save considerably by avoiding the allocation of resources to OI practices that result in little to no contribution to radical product commercialisation. At the macroeconomic level, these findings can help policymakers create adequate (tailor-made) public policies to achieve innovation in each specific group of firms.
Originality/value
This study demonstrates that not all OI practices are equally important for achieving radical production solutions in each group of enterprises.
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Andrew L. Friedman, Samantha Miles and Cameron Adams
Small and medium‐sized enterprises (SMEs) are under increasing pressure to address environmental issues from a range of sources, including legislation, supply chain, trade…
Abstract
Small and medium‐sized enterprises (SMEs) are under increasing pressure to address environmental issues from a range of sources, including legislation, supply chain, trade associations and customers. Addressing environmental awareness, not to mention sustainability, is a complex issue for SMEs, exacerbated by a lack of time, resources and environmental expertise. Consequently, many initiatives have been developed to direct and support SMEs. This paper is concerned with an initial evaluation of one such initiative based on a grounded theory approach. This process highlights the practical issues SMEs face when trying to implement environmental issues as workable company policies. A “gap” between developers and users in terms of the achievable outcomes perceived and obtained from such initiatives is also highlighted. To date, little has been written about the problems SMEs face in addressing environmental issues. This paper attempts to highlight some of these problems and, more importantly, promote further debate and discussion.
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Nurin Athilah Masron, Suhaiza Ismail and Zaini Zainol
The objectives of this study are twofold. Firstly, this study aims to examine the challenges of green public procurement (GPP) involvement among small- and medium-sized enterprises…
Abstract
Purpose
The objectives of this study are twofold. Firstly, this study aims to examine the challenges of green public procurement (GPP) involvement among small- and medium-sized enterprises (SMEs) government suppliers. Secondly, it investigates the differences in the perceived challenges between the small- and medium-sized groups of companies.
Design/methodology/approach
The study draws on the quantitative method. The questionnaire was distributed to SMEs that supply green goods or services to the government and which are listed in the MyHijau directory. Using convenience sampling, a total of 394 questionnaires were distributed and 126 usable questionnaires were received, representing a response rate of 31.98%. A descriptive analysis of the mean score, standard deviation and mean score ranking was used to analyse the overall results. The t-test analysis was carried out to examine the differences between the small- and medium-sized groups of companies.
Findings
All five categories of the barriers, i.e. financial, legal, people, knowledge and organizational challenges, are perceived as the important challenges for SMEs’ involvement in GPP. Of the five categories, “having lack of knowledgeable staff on GPP” under the category of “people” challenge is ranked as the most major barrier. In relation to the differences between the two groups of enterprises (small- and medium-sized), medium enterprises are more affected by two items under the “organization” challenge, i.e. “The company has not targeted suppliers that promote environmentally-friendly products/services” and “The company has not established a clear objective on purchase of green products and services”, as compared to the small-sized enterprises through their GPP involvement.
Social implications
By understanding the difficulties faced by SMEs in engaging with GPP, various practical measures can be formulated to support the SME businesses in mitigating the challenges faced for their involvement with GPP, which subsequently will lead to the country’s target to reach the sustainable development goals.
Originality/value
This study extends empirical evidence on barriers or challenges that may hinder the involvement in government green procurement, with a specific focus on SME government suppliers.
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Qingxin Lan and Songxu Wu
The purpose of this paper is to develop a reliable and valid understanding of entrepreneurship and examine the relationships between small and medium‐sized Chinese manufacturing…
Abstract
Purpose
The purpose of this paper is to develop a reliable and valid understanding of entrepreneurship and examine the relationships between small and medium‐sized Chinese manufacturing enterprises, the intensity of their entrepreneurial orientation and the degree of their internationalization. In addition, it examines whether entrepreneurial orientation would affect enterprises' internationalization strategies and their success.
Design/methodology/approach
The seven‐step procedure for scale development is used and survey data have been utilized to conduct statistical analysis.
Findings
The paper finds that entrepreneurial orientation is positively related to the degree of internationalization, particularly amongst the small and medium‐sized Chinese manufacturing enterprises. The international experiences of enterprises have significant importance and positively affect the degree of their internationalization. In addition, the degree of their success depends greatly on their attitudes towards risk taking, their ability to diversify internationally and successfully compete with those already established in the market.
Originality/value
A lot of studies have been conducted on entrepreneurship and entrepreneurial orientation. However, few people have ever studied the relation between the degree of entrepreneurial orientation and internationalization. Empirical studies on the correlations between entrepreneurial orientation and firm performance are not abundant in China. Furthermore, very few researches on the correlations between entrepreneurial orientation and internationalization have been conducted. The research presented in this paper is intended to bridge this gap. Through empirical analyses of their relationships, this paper shows how entrepreneurial strategies can stimulate competitive advantages and drive forward the international developments of the Chinese enterprises, particularly the small and medium‐sized.
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Elizabeth Barnett and John Storey
Fifty managers from five highly innovative medium‐sized enterprises were interviewed in depth about their experience of innovation. In order to deepen and enrich our understanding…
Abstract
Fifty managers from five highly innovative medium‐sized enterprises were interviewed in depth about their experience of innovation. In order to deepen and enrich our understanding of these experiences, respondents were asked to reconstruct their insights in narrative form. Following a careful analysis of the transcripts, it was found that three interlocking themes recurred in each of the cases. First, each of the firms had creatively configured their customer relationships in order to secure long‐term resourcing in both financial and knowledge terms. Secondly, they saw innovation as part of their long‐term organisational evolution. Thirdly, they gave priority to human resource development issues, and they viewed this stance as necessary in order to underpin the other two elements.
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Susanne Durst and Ingi Runar Edvardsson
The aim of this paper is to review research on knowledge management in small and medium‐sized enterprises to identify gaps in the current body of knowledge, which justify future…
Abstract
Purpose
The aim of this paper is to review research on knowledge management in small and medium‐sized enterprises to identify gaps in the current body of knowledge, which justify future research directions.
Design/methodology/approach
The study consists of a systematic review of 36‐refereed empirical articles on knowledge management and small and medium‐sized enterprises.
Findings
The areas of knowledge management implementation, knowledge management perception, and knowledge transfer are relatively well researched topics; whereas those of knowledge identification, knowledge storage/retention and knowledge utilisation are poorly understood. Given the prevalence of small and medium‐sized enterprises there is a strong need for more research on this important topic. The future research directions proposed by the authors may help to develop a greater understanding of knowledge management in small and medium‐sized enterprises.
Research limitations/implications
By only using the ProQuest database this study may not have allowed a complete coverage of all empirical articles in the field of knowledge management in small and medium‐sized enterprises. Yet, it is believed that the findings provide a valuable understanding of the current situation in this research field. The study proposes a number of future research directions, which may stimulate more intensive research in this important field.
Originality/value
To the best of the authors' knowledge, no systematic literature review on this topic has previously been published in academic journals.
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