The Application of Knowledge Management(KM)by Small and Medium-Sized Enterprises(SME)in Manufacturing Industry

To accelerate the digital transformation of small and medium-sized manufacturing enterprises(SMEs),this study delves into the primary challenges encountered in adopting knowledge management(KM)within these organizations and identifies the essential methods for successful implementation.The objective is to provide practical recommendations for the effective adoption of KM.This research suggests that enterprises should promote knowledge management through three key approaches:enhancing employees’cognitive understanding,standardizing knowledge systems,and tailoring business scenarios to meet diverse needs.These findings offer valuable insights into the digital transformation of SMEs in the manufacturing sector,ultimately helping these businesses to remain competitive and innovative in a rapidly changing market.By addressing the specific needs and challenges faced by SMEs,this study aims to contribute to a more comprehensive understanding of how knowledge management can be leveraged to drive digital transformation and improve overall business performance.

Corporate Governance Mechanisms： Evidence From Small- and Medium-Sized Enterprises （SMEs）

This paper aims to investigate the extent to which Malaysian small- and medium-sized enterprises （SMEs） adopted corporate governance （CG） principles and their effects on firm performance. The principles examined included： establishing clear roles and responsibilities; strengthening composition; and reinforcing independence. The paper is based on a questionnaire survey study among 113 SMEs that consisted of 35% （39） of manufacturing and related services and 65% （74） from services including information and communication technology （ICT）, primary agriculture, construction, mining, and quarrying. The analysis of the data indicates that 32% of the respondents said that the primary reason why they have their own business is to have control over their own working life. This fmding appears to confirm the f＇mancing theory that SMEs owners have other goals than profitability. In addition, 30% of SMEs perceived that the most important role played by the board is risk management; hence, these boards have a greater control over financial risks that may lead to better financial performance. The analysis also shows that 81% of the respondents＇ board consisted of internal board members only. These enterprises need to see the important role of external board members as a source of advice providers and experts to them. For policies relating to clear roles and responsibilities of board, only 28% of the respondents established clear functions reserved for the board and those delegated to management; substantial respondents did not draw up policies relating to reinforce board independency （between 75% and 79%） and to strengthen board composition （46%）. Besides, 68% of the respondents have the position of chairman and CEO held by same individuals and 81% of the chairman is an executive member of the board. These findings suggest that SMEs cannot see the importance of strengthening board and having independent board members. Regression analysis also indicates that board independence has a significant and positive impact on firm performance. Hence, SMEs need to appreciate networking advantages, competency, and strategic knowledge that the right board can offer. The governmental ministries and agencies in Malaysia need to take active measures to encourage SMEs to strengthen their board governance, because SMEs are the important economic powers for stimulating national economic growth. This paper contributes to the empirical literatures on the adoption of CG principles and their effects on SMEs＇ firm performance in emerging markets.

The Perception of Small- and Medium-Sized Enterprises （SMEs） on the Importance of a Proper Accounting System： Malaysian Evidence

This paper examines the relationship between small- and medium-sized enterprises＇ （SMEs） entrepreneurs＇ perceptions towards a proper accounting system with the level of accounting staff recruited, preparation of final accounts, meetings with accounting staff, and entrepreneurs＇ ranking of accounting according to their priority. The methodology used to gather the data is survey questionnaire. It has been distributed to SMEs based on simple random sampling method. Three hundred businesses were selected from the total of 3,390 businesses listed in Kuala Lumpur, Malaysia area obtained from Small and Medium Industries Development Corporation （SMIDEC） website and a few random selected from Ampang and Cheras areas. Regression analysis has been used to analyze the data. The results of the study reveal that there was a significant relation between SMEs entrepreneurs＇ perceptions on the importance of a good accounting system and the level of professional accounting staff recruited. Furthermore, findings of this study also found that there was an insignificant relationship between SMEs entrepreneurs＇ perceptions on the importance of a good accounting system and preparation of final accounts of the company and frequency of meetings with accounting staff.

The Importance of Investments on Small- and Medium-Sized Enterprises （SMEs） Growth： The Case of Kosovo

The small- and medium-sized enterprises （SMEs） are crucial to economic growth, especially in post-socialist transitional countries or new emerging market economies. The development of SMEs depends on the ability of those firms to invest and grow. Based upon an SME survey conducted by Riinvest Institute at the end of 2010, this paper seeks to provide answers on determinants of SMEs to invest in Kosovo, based on an econometric model which identifies the key determinants of SMEs＇ investment. The econometric evidence suggests a positive relationship between investment and the size and age of the company. Also, the decision of the firm to invest depends on the future business plans; if entrepreneurs have optimistic views about the future of the business, this encourages them to invest. The manufacturing and trade sectors invest more, so do exporting firms, which may be because of bigger market opportunities. Access to external sources of finance is another significant determinant of investment, suggesting that firms which gained credit invested more than other firms in the sample.

Analysis of the Critical Aspects of the Generational Turnover in Family Small- and Medium-Sized Enterprises （SMEs）

Family businesses, which aim at surviving today, have to deal with a precise modality： To ensure their continuity, entrepreneurs have to ensure the transfer of leadership from one generation to another inside of them. We do believe that this matter is worth being analyzed, since the succession, from one generation to another, can be considered as a crucial variable in maintaining family small- and medium-sized enterprises （SMEs） over time. Therefore, after investigating the main features, problems, and factors leading to the succession processes, in the second part of this article, an empirical analysis will be carried out, by comparing several European countries on the basis of data from the European Commission. This article contributes to enriching, from a theoretical point of view, the conceptual framework used for investigating the dynamics in the continuity of SMEs. Moreover, empirically, it contributes to the increasing literature on family businesses by comparing several European countries in order to understand what originates the longevity of family SMEs.

Competitive Advantages and Clustering of SMEs： An Analysis of Clustering Effect on Competition in Small-Scale Enterprises in Istanbul

According to Michael Porter＇s Diamond Model, a business cluster is defined as geographic concentration of inter-connected companies and institutions working in a common industry. In addition, clusters encompass an array of collaborating and competing services and providers that create a specialized infrastructure, which supports the cluster＇s industry. The economic cluster model, represents a synergy, a dynamic relationship and a network between not only the companies that comprise a cluster but also the successful partnering of the stakeholders. Today in all over the world, successful clusters have established a greater competitive advantage and wealth creation for their regions when compared to companies not in a cluster. Given this success more policy makers and regions are considering fostering cluster development as building blocks of regional economies. Research is planned and performed for understanding the clustering in SMEs （small and medium enterprises） industrial estate in Istanbul if it gives a competitive advantage to the cluster members or not. It is performed to determine and satisfy the lack of knowledge about the small and medium enterprises＇ issues, technologic systems, production quality standards, capacity usage ratios, interactions with other firms, habits of following the technologic improvements and clustering effects on the members.

Small and Medium-Sized Enterprises （SMEs） in Personal Services

Entrepreneurship has become an attribute of the current growth without business activities. Entrepreneurship is a global world. It is not possible to think about economic driving force of technological development and scientific research. It materializes knowledge and involvement of people and society. Expansion of business activities is a source of individual country＇s economic performance. It contributes to the development of people＇s living standards. In every market economy, it represents an irreplaceable role for small and medium-sized enterprises （SMEs）. A strong representation of＂micro-enterprises＂ can be found in the field of personal services. Companies within the course of their existence go through particular stages of their development--from their foundation through the stage of steady development. After this stage, there comes their decline that can develop even into their termination. We indicate this process as a company life cycle. The aim of the submitted project is to map the life cycle of particularly chosen companies providing accommodation and catering services and to find a mutual relation among observed quantities and their stable economic positions in the market. The analysis is based on the data of macro-economic character, the data about development of receipts in the sector, development of inflation, tempo of economic growth, and development of consumer prices. Out of a company, non-financial factors will also be considered. The core of the analysis is the stage of sustainable stability of the assessed companies. The point of the findings is revelation of the causes of risks of possible transition into the stage of termination due to the decline of services volume, decline of profitability, and long-lasting payment insolvency. The contribution of the project is to draw our attention to possible risks of critical situation development and to propose how to avoid them so that the company will not occur in financial straits. Achieved information could assist the company management to make relevant decisions.

Competition in Marketing： Survival Yardstick for Small and Medium Enterprises （SMEs） in Nigeria

The topic investigated competition in marketing as a survival yardstick for small and medium enterprises （SMEs） in Nigeria. The objectives addressed by this study were： （1） identifying different types and intensity of competition that SMEs are exposed to along the life-cycle portfolio in Nigeria; （2） quantifying the strength of SMEs vis-a-vis some foreign enterprises in terms of market competition; and （3） proffering solutions on how best they could match competitively these foreign enterprises. Relevant models and theories were employed in literature to evolve detailed analysis of issues relating to the variables used in terms of competition in marketing and survival of juice-producing SMEs. Two hypotheses were investigated through the survey of 20 prominent Ikeja based SMEs using Cluster sampling, 5-points Likert summated rating scale was adopted, while Yard＇s formula with 95% confidence level and 5% error tolerance was used. Alternative form validity of the instrument was measured at 0.63 while its reliability was measured at Cronbach＇s alpha of 0.70. Pearson＇s product-moment correlation was used in testing hypothesis 1 while standard multiple regressions were used to test hypothesis 2. Findings revealed that there was strong relationship between survival of juice-producing SMEs with forms of competition on a firm＇s life-cycle; while competition had positive effects on survival components for the enterprises. It was concluded that since competition subsists in any firm＇s life-cycle, strategies to support operations for survival must be adopted. It was recommended that operators of SMEs have to monitor and manage competition as it affects their businesses positively and/or negatively.

The Effects of Intangible Assets （IA） on the Loan Interest Rates for Small- and Medium-Sized Enterprises （SMEs） in Taiwan

This study is motivated by the lack of direct empirical research on the relationship between intangible assets （IA） and loan interest rates for small- and medium-sized enterprises （SMEs） in emerging markets. This study uses a multivariate regression to investigate the effects of 1A on loan interest rates by focusing on SMEs. Using a panel sample of 186 publicly-listed SMEs with 952 annual observations in Taiwan from 2001 to 2006, the empirical findings indicate that an SME＇s IA does negatively affect loan interest rates. The main contribution of this study lies in its direct testing of whether IA can affect the loan interest rates for SMEs in an emerging market. The finding provides empirical evidence that an SME with greater IA leads to lower interest rates on bank loans, implying that SMEs should strive to invest in IA and enhance their knowledge management for obtaining more benefits of loan interest rates. Furthermore, the findings may provide empirical evidence for SMEs in emerging markets and can be compared with those for firms in industrialized economies.

Small and Medium Enterprises （SMEs） and Competitiveness： An Empirical Study

Globalisation and competitiveness affected the way of enterprises undertake innovation, particularly in the case of Small and Medium Enterprises （SMEs）. According with European Commission （2013） in Europe 99% of the enterprises is SMEs. SMEs all over the world are considered as the lifeblood of the economies. The importance of this research is justified by the predominance of SMEs that represents the majority of enterprises in Portugal. SMEs contribute to the creation of jobs, as well as to the competitiveness of the economies, specially, in crisis time. This study has two main objectives; firstly propose a literature review focused on competitiveness of SMEs. Secondly analysis a sample of 23 enterprises identified as leaders of Portuguese SMEs in 2012. The data considering a ranking list of the largest 1,000 Portuguese SMEs in 2012, published by Exame （2013）. This analysis considers some SMEs features such as, sales, market share, dimension, and sector. Additionally this research presents a SME case included in this database. Through the application of a questionnaire the study provides a complementary micro perspective of the factors that influences enterprises competitiveness. The questionnaire is divided into three parts： Part one refers to the characterization of the enterprise; Part two assesses the entrepreneurial competitiveness, considering nine questions to assess performance, six questions to assess internal processes and four questions to understand the relations with customers; and part three analyses the diffusion of innovation through three questions. Finally the study provides important clues relevant for the development of public policies that can support the innovation and competitiveness of SMEs. Moreover the discussions highlight some variables approached in literature review considered as pertinent in the case of innovative SME due to their contribution to exports and to economic growth.

Delivery Service Management System Using Google Maps for SMEs in Emerging Countries

This paper proposes a Delivery Service Management(DSM)system for Small and Medium Enterprises(SMEs)that own a delivery fleet of pickup trucks to manage Business-to-Business(B2B)delivery services.The proposed DSM system integrates four systems:Delivery Location Positioning(DLP),Delivery Route Planning(DRP),Arrival Time Prediction(ATP),and Communication and Data Sharing(CDS)systems.These systems are used to pinpoint the delivery locations of customers,plan the delivery route of each truck,predict arrival time(with an interval)at each delivery location,and communicate and share information among stakeholders,respectively.The DSM system deploys Google applications,a GPS tracking system,Google Map APIs,ATP algorithms(embedded in Excel Macros),Line,and Telegram as supporting tools.To improve the accuracy of the ATP system,three tech-niques are applied considering driver behaviors.The proposed DSM system has been implemented in a Thai SME.From the process perspective,the DSM system is a systematic procedure for end-to-end delivery services.It allows the interactions between planner-driver decisions and supporting tools.The supporting tools are simple,can be easily used with little training,and require low capital expenditure.The statistical analysis shows that the ATP algorithm with the three techniques provides high accuracy.Thus,the proposed DSM system is beneficial for practitioners to manage delivery services,especially for SMEs in emerging countries.

A Model of Cloud-Based Enterprise Resource Planning (ERP) for Small and Medium Enterprise

Cloud Computing is an uprising technology in the rapid growing IT world. The adaptation of cloud computing is increasing in very large scale business organizations to small institutions rapidly due to many advanced features of cloud computing, such as SaaS, PaaS and IaaS service models. So, nowadays, many organizations are trying to implement Cloud Computing based ERP system to enjoy the benefits of cloud computing. To implement any ERP system, an organization usually faces many challenges. As a result, this research has introduced how easily this cloud system can be implemented in an organization. By using this ERP system, an organization can be benefited in many ways;especially Small and Medium Enterprises (SMEs) can enjoy the highest possible benefits from this system.

A Novel Lifecycle Model for Web-based Application Development in Small and Medium Enterprises

Software engineering＇s lifecycle models havc proven to be very important for traditional software development. However, can these models be applied to the development of Web-based applications as well？ In recent years, Web-based applications have become more and more complicated and a lot of efforts have been placed on introducing new technologies such as J2EE, PhP, and .NET, etc., which have been universally accepted as the development technologies for Web-based applications. However, there is no universally accepted process model for the development of Web-based applications. Moreover, shaping the process model for small medium-sized enterprises （SMEs）, which have limited resources, has been relatively neglected. Based on our previous work, this paper presents an expanded lifecycle process model for the development of Web-based applications in SMEs. It consists of three sets of processes, i.e., requirement processes, development processes, and evolution processes. Particularly, the post-delivery evolution processes are important to SMEs to develop and maintain quality web applications with limited resources and time.

New Managerial Figures in the Process of Entrepreneurial Change and SME Flexibility

The world entrepreneurial scenery, being under constant evolution because of globalization and the current international crisis, has changed corporate competition, requiring companies to meet such key-factors to success as increased organizational flexibility and innovative development of their structures and products. Thus ＂NTBF＂ （New Technology Based Firms） are increasingly developing, that are able to act both as a major player in the innovation process, and as a link between the market and the production world and that need not only venture capital to cope with the large initial investment, but also such figures that, with their leadership qualities, are able to anticipate the market development. As a result, the emergence of the knowledge society has increasingly driven companies to search for new business figures, playing both the role of financing partners and of valuable support to the entrepreneur in running a business. Such distinguishing characteristics appear to be peculiar to the figure of the business angel that, thanks to the know-how and international contacts, acts not only as a simple partner but also as a leading force within the company, who is able to simplify the decision process of the business and drive it to plan profitable investment and winning strategies. Therefore, the present work is aimed at understanding how such a figure is crucial to the development of new companies operating in emerging economies being, as well, technologically advanced, as it is the case for Estonia, which is called the ＂Silicon Valley of the Baltic Sea＂. Thus, the work will first focus on the functions, organization and the benefits resulting from the involvement of business angels and, secondly, on the reasons why this figure is preferable to other operators involved in venture capital, namely venture capitalists. Finally, the good practices implemented in Europe by the various associations of business angels will be analyzed, paying particular attention to the Italian context, in order to consider the opportunity to develop, even in the Baltic Republics area, a similar institution being able to ensure, by promoting contact between entrepreneurs and business angels, the proper development of businesses, especially starting-up companies.

Creativity of the Entrepreneur, Intrapreneurship, and the Growth of Small and Medium-Sized Enterprises： Evidence from China

Creativity is an element of the personality of entrepreneurs which can be important for the foundation, advance, and business performance of small and medium-sized enterprises （SMEs）. Intrapreneurship can be developed in small and medium-sized enterprises where entrepreneurs have a sufficient level of creativity and it can influence the growth of enterprises. Hypotheses are specified and empirically tested based on responses to a structured questionnaire on a sample of small and medium-sized enterprises from China. The research results indicate positive relationships between the creativity of the entrepreneur and intrapreneurship and growth of the enterprise.

Profitability of RE-Technology Regarding the Economic Environment:A Case Study of Swiss SMEs

Considering the important changes in the Swiss energy sector, especially in renewable energy(RE)technologies, new revenue possibilities for small and medium sized enterprises(SMEs) emerge. However, the adaption of RE-technologies for Swiss enterprises relies on tangible financial returns, based on complex calculations. This article analyses business opportunities(BOs) of eight Swiss SMEs considering the net present value of RE-investments in an uncertain economic environment. We identify two profitable BOs for Swiss SMEs and three which are not profitable. Further, the article demonstrates that the profitability of such investments remains mostly positive even under economic uncertainties. Surprisingly the profitability does not change significantly if the SME receives a subsidy or not. The support instrument of the Swiss Government has not a ponderous impact on the decision to invest in RE-technologies or not. Therefore, the article emphasizes the importance of including SME in the Swiss attempt to decentralize the energy market.

Survey Explores Symbiotic Relationship between China's Nonofficial Finance and SMEs

Domestic and foreign studies have revealed the existence of an interactive development relationship between nono cial nance and small and medium-sizedenterprises.Based on the empirical findings of a Hangzhou case study,this article substantiates the existence of a very strong symbiotic relationship between China’s nono cial nance and small and medium-sized enterprises(SMEs).This symbiotic relationship is an equilibrium outcome among three market players:formalnance,nono cial nance and SMEs.Meanwhile,it is also a rational choice and suboptimal equilibrium point reached under the existing institutional spaceconstraints.In our empirical study,we found that formal nance failure left a space for symbiosis to survive in two ways:the comparative advantages of nono cialnance created an institutional basis for symbiosis to grow,and immense SME fund shortages created a market space for symbiosis to thrive.In this article,we alsoput forward some recommendations for further development of such a symbiotic relationship.

A Model to Analyze Small and Medium Enterprises＇ Training Needs Related to the Internationalization

Formal training can play a particularly important role in supporting the internationalization of small and medium enterprises （SMEs）. However, the demand for education services by the latter still appears limited. This is due to known structural and cultural limits that are found widely in this type of business and to the fact that the provision of training---especially that which is funded^oes not seem to address adequately SMEs＇ needs; in many cases, such training is not stimulating, because it is perceived as too general. In fact, SMEs do not constitute a single homogeneous group and therefore assistance needs vary among the different types of firms. So, especially in relation to internationalization, it is clear that there are important differences to consider due to the variety of approaches and ways of developing this process. In order to optimize the resources to invest in the promotion of training, there is a need to find a proper balance between providing ＂viable solutions for all businesses＂ and offering ＂targeted responses and tailored services＂. In such a context, the main objective of this paper is to identify and systematize the variables that most influence the SMEs＇ training needs related to internationalization by taking into account the differences among them. To this end, an empirical analysis was developed involving a significant number of Italian SMEs by using a combination of qualitative research methods. The results show the critical issues faced by the investigated firms during their internationalization process and highlight some important variables that affect their training needs： export involvement, characteristics of the product/market, characteristics of the company, exporting strategy, and human resources. Based on these variables, the writers identified clusters of firms characterized by similar needs and problems to be faced.

Factor Analysis for the Development of Women Entrepreneurship in SMEs:An Empirical Evidence From Bangladesh

Women entrepreneurship is now a rapidly growing socio-economic phenomenon in developing country like Bangladesh.Women entrepreneurs’development in the SME sector is one of the most important challenge.The research aims to analyze the factors related to the development of women entrepreneurship in Small and Medium Enterprises(SMEs)sector of Bangladesh.The analysis is based on recent theoretical ideas that have been supported by empirical research findings.Both descriptive and inferential statistics were used in this research.To analyze the factors we have interviewed 232 women entrepreneurs of SME businesses.The main tool of research was a structured questionnaire.This study illustrates an analytical framework based on institutional theory,which focuses on three kinds of factors:regulative,normative,and cognitive.Regulative factors refer to different rules and regulations of the Government that facilitate women entrepreneurship development of SMEs sector in Bangladesh.Normative and cognitive factors include norms,rules,regulation,and values of society.This study provides suggestions on how to overcome barriers and also many significant policy implications to improve women entrepreneurship in SMEs sector of Bangladesh.

Does access to credit reduce SMEs’tax avoidance?Evidence from a regression discontinuity design

This study investigates the effect of targeted reserve requirement ratio cuts(TRRRCs)on tax avoidance among small and micro enterprises(SMEs)with operating revenues below specific cutoffs in China.Using a regression discontinuity design,we causally show that,by increasing loan availability,TRRRCs significantly alleviate the financial constraints and cash dependence of SMEs and consequently reduce tax avoidance.This is especially the case among firms with lower market power and higher entertainment and travel costs.Our findings provide evidence for the real effect of TRRRCs on corporate tax avoidance and show the inclusive effect of TRRRCs on SMEs.In doing so,we indirectly reveal a rent-seeking channel underlying bank lending,thus offering clear policy implications for regulators.