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Running a small business provides opportunity for greater success, increased growth, and potentially the chance to move to the global business arena, yet also much more risk. Small businesses not only have less employment, but also less annual revenue than a regular-sized business. With the growth of large corporations and chain businesses, it has become harder to maintain the survival of a small business. The COVID-19 pandemic has also brought more pressure onto the already unsteady survival of small businesses, due to forced closures, decreased agility, fewer technological innovations, and smaller customer bases. The Research Anthology on Small Business Strategies for Success and Survival offers current strategies for small businesses that can be utilized in order to maintain equal footing during challenging times. With the proper strategies available to small business owners, small businesses could not only survive, but also excel despite the environment that surrounds them. Covering topics including decision management, new supportive technologies, sustainable development, and micro-financing, this text is ideal for small business owners, entrepreneurs, startup companies, family-owned and operated businesses, restaurateurs, local retailers, managers, executives, academicians, researchers, and students.
Family-owned businesses account for many of the small and medium-sized enterprises that exist around the world in various industries. Due to their unique make up, these firms are often heavily influenced by family dynamics that must be reconciled by family and non-family workers alike in order to ensure the sustainability of the business. As smaller businesses competing against an increasingly globalized economy and more directly impacted by economic instability, especially in the wake of the COVID-19 pandemic, these businesses must continue to improve their practices and processes in order to not only survive but thrive. The Research Anthology on Strategies for Maintaining Successful Family Firms discusses the strategies, sustainability, and human aspects of family firms in order to understand what sets them apart from other businesses and how they can survive and compete in a globalized economy. This book discusses the unique dynamic brought by family firms that offers both opportunities and challenges for a growing business. Covering topics such as corporate venturing, the family unit, and business ethics, this text is an essential resource for family firms, entrepreneurs, managers, business students, business professors, researchers, and academicians.
The anthology Small Businesses, Big Ideas: Global Case Studies in Strategy, Marketing, and Entrepreneurship introduces students to small businesses on four continents to help them understand the challenges inherent in running small businesses, as well as the strategies that lead to success. The book features an overview of each region along with an assessment of the small business landscape. Case study chapters open with an original introduction that helps students focus their reading. These chapters also include maps of the target region to contextualize the material and underscore the impact of geography. Students learn that small businesses account for the greatest part of the gross domestic product in most countries. They study general management, sustainable development, international expansion, stewardship issues, marketing, and the role of cultural issues - all with an emphasis on small businesses rather than major corporations. This knowledge prepares students for their own careers in small businesses. Small Businesses, Big Ideas is an excellent supplement for both undergraduate and graduate level courses in strategic management. It can also be used in classes in entrepreneurial studies, global management, and marketing.
Small and medium-sized enterprises (SMEs) are recognized as the backbone of today’s world economy. However, SMEs are well known for having limitations and acceptance barriers in adopting new technology even though the internet and communications channel’s revolution has changed the way people conduct business today. Further, the COVID-19 pandemic has disturbed the operations of SMEs and increased the burden on social media application globally. It is essential that SMEs utilize social media to strengthen their performance. Strengthening SME Performance Through Social Media Adoption and Usage explores experiences in different technological, managerial, organizational, and entrepreneurial environmental issues. It focuses on different conceptions of factors and consequences influencing social media usage and SME performance. Covering topics such as corporate social responsibility, marketing frameworks, and social media adoption, this premier reference source is a valuable resource for entrepreneurs, business leaders and managers, human resource managers, marketers, consultants, students and educators of higher education, librarians, researchers, and academicians.
Higher education is constantly changing and advancing, and the integration of technology and its transformative potential remains elusive for many universities globally. While other industries have surged forward with digitization, higher education has been slow to completely embrace technology-driven outcomes. Reshaping Entrepreneurial Education Within an Industry 4.0 Context sheds light on the barriers preventing widespread technological adoption and the profound changes that Industry 4.0 brings to education. As the fourth industrial revolution, Industry 4.0, continues to unfold, this book delves into how this phenomenon is reshaping the field of education. This book presents a comprehensive analysis of how digital technology and capabilities are becoming integral to building more flexible and adaptive tertiary education systems in regions like Latin America and the Caribbean. It also highlights the challenges faced by online learning and the urgent need for a fundamental rethinking of higher education to ensure equal access to quality education. This publication addresses a diverse audience, making it an essential resource for students, academicians, and higher education administrators seeking an in-depth understanding of Reshaping Entrepreneurial Education Within an Industry 4.0 Context. For practitioners, it provides valuable insights to enrich their work in the realm of higher education. The book covers a broad spectrum of key themes, including the impact of the 4th industrial revolution on entrepreneurial education, the transformative power of online learning in global universities, and the hurdles faced in adopting digital education. Additionally, the experts behind this research delve into how information and communication technologies (ICTs) are influencing educational policies and teaching methods worldwide, as well as the role of metaverse technologies in designing curricula for entrepreneurial education.
Risks can be identified, evaluated, and mitigated, but the underlying uncertainty remains elusive. Risk is present across all industries and sectors. As a result, organizations and governments worldwide are currently experiencing higher levels of risk and have had to make risky decisions during times of crisis and instability, including the COVID-19 pandemic, economic and climate perils, and global tensions surrounding terrorism. It is essential that new studies are undertaken to understand strategies taken during these times to better equip business leaders to navigate risk management in the future. Global Risk and Contingency Management Research in Times of Crisis examines the impact of crises including the COVID-19 pandemic, which has tested organizational risk and contingency management plans. It provides significant insights that should benefit business leaders on risk and contingency management in times of crisis. It emphasizes strategies that leaders can undertake to identify potential future risks and examines decisions made in past crises that can act as examples of what to do and what not to do during future crisis events. Covering topics such as auditing theories, risk assessment, and educational inequality, this premier reference source is a crucial resource for business leaders, executives, managers, decision makers, policymakers, students, government officials, entrepreneurs, librarians, researchers, and academicians.
Small business management is the process of aligning and organizing all elements of a small firm, including its personnel, suppliers, finances, strategic plan, and day-to-day operations. Due to the massive fluctuations within and between sectors, small enterprises make up a volatile segment of the national economy. So, effective project management is essential in a small business means reaching the project goals on time and within budget, despite having fewer resources than large organizations. Also need to Provides highlights on small business in a changing world, small business and project management, and historical development of project management. Implementing process approach quality management, it focusses on process approach of ISO, plan do check act in the ISO 9001 standard. Further, involves Art database models for sales, marketing, customer management and more key business activities and also explains on tracking sales information for CRM, most popular CRM data models. It is essential to understand the small businesses and their challenges during covid-19 pandemic, on family business in 21st century, E-business and E-commerce and provide highlights about marketing and supply chain management. It also covers research Anthology on small business strategies for success and survival. The highlights on the drivers of innovation practices in SMEs, its importance and helps to understand entrepreneurship growth in emerging economies, focusses on importance of entrepreneurship, institutions and economic growth, ethical values in SMEs, developing and implementing ethics policy. This book provides highlights about the inventory costing methods for small business, the 4 inventory costing methods for business to use and gives some important survival tips for small business.