MARKETING PRACTICES OF SMALL & MEDIUM SIZE ENTERPRISES: A CASE STUDY OF SME’S IN MULTAN DISTRICT (Published)
Small and Medium Size Enterprises are the backbone of every major economy and empirical studies prove that small firms are more efficient and innovative in their operation, product development and marketing strategies. The objective of this research study is to analyze marketing practices (strategies) of Small and Medium Size Enterprises running entrepreneurs in Multan.This study is qualitative in nature in which we have studied the major characteristics of selected Small and Medium Size Enterprises. Primary Data was collected through a structured questionnaire by having interviews with the entrepreneurs. At least thirteen Small Medium Size Enterprises operating in Multan District were selected as a sample of study and a formal questionnaire was prepared. A field survey method was applied and faced to faced interviews were recorded to analyze the marketing strategies of SME’s. The evidences show that SME’s under study achieved success and established their names and brands through innovations. Their innovations were in the shape of unique designs that not only meet the need of customers. Their services are innovative in a sense that they satisfy the customers. Thus our consistent with previous studies which pinpoint that small medium enterprise are innovative and more efficient than large firms.
Keywords: Entrepreneurs, Innovation, Marketing, SMEs
INNOVATIVE ADAPTATION AND OPERATIONAL EFFICIENCY ON SUSTAINABLE COMPETITIVE ADVANTAGE OF FOOD AND BEVERAGE FIRMS IN KENYA (Published)
The idea that an organization’s members are the real source of its competitive advantage has long been acknowledged. The significance of human capital as a determinant of firm performance is gaining recognition in the strategic management literature, and the need for relating employee talent to a firm’s competitive advantage is continuing to develop in the human resource management arena hence the drive to establish superior human capital to generate competitive advantage Many firms have explicitly embraced competitive strategies to gain and maintain a lead in their industries. In all the competitive strategies firms have engaged in, human capital has been the driver of competition. This study endeavoured to empirically test the effects of human capital and especially in innovation and operational efficiency in according food and beverage firms the requisite competitive advantage in the very dynamic industry. the study sought to answer the following research question: What are the effects of human capital (in innovative adaptation and dynamic operational efficiency) on firms’ ability to attain sustainable competitive advantage within the F & B companies in Kenya? This research entailed a descriptive study design. This study sought to do that among the F & B firms in Kenya. The study was concerned with describing the characteristics of a unique group of food and beverage firms and their competitiveness. From the study, 87 percent of respondents indicated concurrence on usefulness of human resources for SCA. Kenyan firms in the food and beverage industry therefore highly regard human capital as a major contributor to sustainable competitive advantage. The study established that internal processes largely rely on how capabilities are harnessed for competitive advantage.
Keywords: : Human Capital, Innovation, Sustained Competitive Advantage
Firm Level Innovation: The Case of Ghanaian Firms (Published)
Firm level innovation brings about new ideas, new products development, pioneering of new technologies and processes as well as the promotion of entrepreneurship. It is the major driver of economic growth and competitiveness in the global market economy. This study assessed the status of innovation among small, medium and large firms in Ghana. From the up-dated list of the Association of Ghana Industries (AGI) a sample of 500 manufacturing and service sector firms employing more than 10 people were purposively selected across the country. The primary data were collected through questionnaire, and then analysed using descriptive and inferential statistics. The individual entrepreneur or owner of the firm was the unit of analysis. The result showed that innovation in Ghana is more prevalent in the small firms compared to medium and large firms. The study noted that most of the employees with university degrees were employed by large multinational firms and medium firms that are part of large groups. It also emerged that more than half (59%) of the processed innovations were developed within the firms themselves and 21% of the innovative firms collaborated with other firms and institutions for their innovative activities. The paper argues that drawing lessons from the experience of the Asian Tigers, firm level innovation could aspire Ghana achieve higher economic growth for favourable competition in the global economy.
Keywords: Firm Level, Ghana, Innovation, R&D, Technological, economic growth
INNOVATIVE ADAPTATION AND DYNAMIC OPERATIVE EFFICIENCY ON SUSTAINABLE COMPETITIVE ADVANTAGE OF FOOD AND BEVERAGE FIRMS IN KENYA (Review Completed - Accepted)
The significance of human capital as a determinant of firm performance is gaining recognition in the strategic management literature. The need for relating employee talent to a firm’s competitive advantage is continuing to develop and to gain recognition as a driver in generating competitive advantage. Many firms have explicitly embraced competitive strategies to gain and maintain a lead in their industries. In all the competitive strategies firms have engaged in, human capital has been the driver of competition. This study endeavoured to empirically test the effects of human capital and especially innovation and operational efficiency on competitive advantage in a very dynamic industry of food and beverage. The study sought to answer the following research question: What are the effects of human capital (in innovative adaptation and dynamic operational efficiency) on firms’ ability to attain sustainable competitive advantage within the F & B companies in Kenya? This research entailed a descriptive study design. The study was concerned with describing the characteristics of a unique group of food and beverage firms and their competitiveness. The study concluded that Kenyan firms in the food and beverage industry highly regard human capital as a major contributor to sustainable competitive advantage. The study established that internal processes largely rely on how capabilities are harnessed for competitive advantage.
Keywords: : Human Capital, Competitive Advantage, Innovation, Operational Efficiency