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.

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.

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.

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.

Research on System Dynamic of Buying Work Safety Services in Small and Medium-Sized Enterprises

Buying work safety services from intermediaries is a new and important approach to improve the work safety in small and medium-sized enterprises(SMEs).The existing literature addresses the significance and effectiveness of the service model but it ignores the dynamic game relationship between relevant stakeholders when SMEs choose to purchase the services under bounded rationality.Therefore,this study aims to analyse this dynamic game relationship based on evolutionary game theory.Furthermore,dynamic simulations of the evolutionary game model are applied to determine the impact of major factors for three stakeholders(SMEs,governments,and safety service agents),examine stability strategies,and identify modes of equilibrium under different subsidy strategies.The results of simulation are as follows.First,the results explain that how the major factors(service price,the quality of service,government subsidy,etc.)affect the system dynamic force of buying work safety services.Second,when the subsidy strategy is static payment,the selection of the stakeholders fluctuates and is not optimal.Third,when the subsidy strategy is a dynamic payment,the evolutionary game process converges to a stable state,which indicates that an evolutionarily stable strategy exists under the dynamic subsidy strategy.Moreover,the stable state and equilibrium values are not affected by the different initial values.The results of this study offer a certain reference for the government to guide the implementation of the purchase of work safety or other services in SMEs.

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.

Economic Development and Small Businesses in Japan

Japan’s economy lost most of its industrial production force as a result of World War II. However, from 1955 onwards, Japan has achieved rapid economic growth, joining the group of the world’s most developed countries by the early 1970s. The period from 1955 to the early 1970s is generally regarded as a period of High Economic Growth. There are various opinions regarding the factors that enabled Japan to attain such high economic growth, referred to as the Economic Miracle. It can be said that Japan’s post-war economic development was the result of advancements in technological innovation on the basis of financial assistance from the United States, which established Japan’s position in the world economy, loans from the bank, and the introduction of technology from abroad. Needless to say, the “high growth of post-war Japanese capitalism has not been achieved only by giant companies alone. On the contrary, without small businesses, especially in their roles as subcontractors, it would have been impossible to achieve such high growth, which has drawn attention internationally” （Nomura, 1981, p. 126）. The purpose of this presentation is to make clear the role of small businesses in the process of economic development.

The Impact of Firm Characteristics, Industry Types, and Financial Ratios on SMEs＇ Utilization of Tax Incentives

This study aims to contribute to the growing literature on issues of tax incentives for small and medium-sized enterprises （SMEs）. Through comprehensive exploration of data, the study investigates factors leading to successful and unsuccessful utilization of tax incentives among SMEs. Financial ratios were calculated based on the information retrieved from the companies＇ annual financial statement. Apparently, these financial ratios are evidence of how successful the companies are in utilizing the tax incentives. In this study, 129 small companies and 71 medium-sized companies were selected as samples for the period of 2003-2007. The result indicates that financial structure such as retained earnings, tax burden, cash flow, and inventory level determined the ability of companies to utilize tax incentives; hence leading to higher earnings generated from the business operation. The age of the companies affects the utilization of tax incentives and this denotes that older companies are more capable of generating higher earnings. Hence, a thorough analysis of the data allows us not only to determine the success of the company in utilizing tax incentives but also to identify the determinants that impact their performance.

The Relationship Between Access to Finance and Growth of SMEs in the Northern Province of Sri Lanka:Financial Literacy as a Moderator

The direct effect of access to finance on the growth of Small and Medium Enterprises(SMEs)run by entrepreneurs is well studied.However,there is limited understanding on the difference in the rate of entrepreneurship growth across a nation.Further,the empirical findings relating to the financial literacy of entrepreneurs significantly differ across different geographic communities.Thus,the purpose of this study is to examine the impact of financial literacy on the relationship between access to finance and the business growth of the SME Sector in the Northern Province of Sri Lanka in the post-civil war context,as SMEs promote resilience of communities to recover from adversities such as civil war.The Indebtedness of Northern Province has suddenly increased,as there is a sharp growth evident in the average debt per family in the post-civil war context.Thus,demonstrating the lack of proper financial literacy and the discipline required to be financially stable,is a crucial benchmark for a successful business.According to the model of ambidextrous management in entrepreneurial growth companies,entrepreneurship is process where the entrepreneurial orientation turns into implementation and thereby leads to the business growth.However,the effect of access to finance to the entrepreneurs and the impact of financial literacy of the entrepreneur on this relationship are not examined.Thus,this study incorporates the effect of access to finance and the moderating effect of financial literacy to the existing model.It was evident from this study that,access to finance has a direct impact on the growth of the SMEs in the Northern Province of Sri Lanka.The result also reflects that the financial literacy and ability to make the financial decisions influence access to finance,resulting in business growth.

企业价值、融资次序、公司治理以及影响因素——融资结构的实证研究

自Modigliani&Miller(1958)提出MM定理并创建现代资本结构理论以来,融资结构的研究有了很大发展。但是这些理论是否适合中小企业融资结构的分析,需要实证检验。文章重点关注了中小企业融资结构的实证研究成果,围绕中小企业融资结构与企业价值、中小企业融资次序、中小企业融资结构与公司治理和中小企业融资结构的影响因素四个方面,对中小企业融资结构领域的相关文献进行了系统梳理与述评,并在此基础上对未来可能的研究方向进行了展望。

Bottom-Up or Top-Down： Which Is the Best Approach to Improve CSR and Sustainability in Local Contexts？ Reflections From Italian Experiences

This paper reflects on the theme of sustainability and territorial social responsibility, which, in this context, is defined as a pathway promoted by a plurality of public and private actors, for- and non-profit, who find that social cohesion and the relationships that are cultivated in the place from which these diverse ＂protagonists＂ come, are the drivers in the construction of shared territorial governance. The efficacy of such processes in the local context （communal, provincial, and regional） is predicated on the culture and on the values that the diverse, networked stakeholders-actors accumulate in their territory （meso level）. In developing this theme, the paper is divided into several parts. The first part describes the theoretical context, which is illustrated by an enumeration of experiences realized at the local level in Italy. We then focus our analysis on the experience of territorial govemance promoted in the Marches Region. This project was selected as a case study, because it is emblematic of the Italian context; the territory is characterized by the diffuse presence of small businesses in the soeio-economic fabric and by the proactive role of the local government. The case allows us to evaluate this paper＇s fundamental proposition, that the policies of the European Commission [EC] and the Government of Italy for promoting Corporate Social Responsibility and sustainability are not concretely effective when they are not fostered by regional authorities together with local private actors. Furthermore, public initiatives, to be effective, should take into consideration the influence of local culture, the social milieu, and economic factors shaping the environment in which public-private networks arise.

Trade Credit in the Crisis： Selling or Financing？

The work investigates the use of trade credit in Italy for reasons of a financial nature. The analysis considers Italian small and medium-sized enterprises （SMEs） and investigates, over the years of 2009-2011： the existence of functional relationships between the incidence of trade receivables and payables and corporate profitability; the existence of interdependencies between trade credit policy and trade debt policy; and the coexistence of interchangeable and complementary conditions between trade debts and bank loans and other sources of funding. To verify the research hypotheses, linear regression models on a yearly basis are used and these models are put under observation over the years of 2009-2011. We can conclude that there are interdependencies between trade credit policy and trade debt policy and that trade credit is a source of flexible way of financing, also available in periods of crisis, which has a positive effect on the profitability of SMEs and can be utilized as a complementary and substitute source of financing to bank loans.

Clusters as a Way of Penetration of International Market

The global financial and economic crisis has negatively affected all business units. Tough fight for the market position results in effort to create efficient methods to maintain company＇s competitiveness. Some of small and medium entrepreneurs have started to search the business allies. As an example of such possibility of cooperation the formation of clusters should be mention. The main intention of this paper is to demonstrate possibility for small and medium-sized enterprises （SMEs） to cooperatively penetrate new markets. Attention is focused mainly on a real export-oriented cluster. Ambition is to use costs and benefits analysis to test ability of the cluster to improve chances of companies to penetrate new markets. In order to link this analysis to real life as much as possible, existing cluster was used and on its accomplishments and failures costs and benefits of clustering are demonstrated.

后发企业如何在“卡脖子”技术领域构建自主创新能力?——一个设计仿真软件中小企业的纵向案例研究

“卡脖子”技术领域的后发企业构建自主创新能力,对我国从制造大国迈向制造强国具有重要的现实意义。本文对设计仿真软件领域一次创新型后发中小企业Y展开纵向案例研究后发现:后发中小企业在“卡脖子”风险初显时准确选择新技术路线,并从基础研究开始自主开发新产品和产业化替代。其依托国家创新体系科技项目获取项目资金、吸收专家意见、引入价值链伙伴、匹配客户场景、吸收客户建议,通过在空间维度和时间维度的能力要素聚集与迭代,有效克服“卡脖子”技术领域的技术台阶、市场鸿沟和运营复杂性等创新障碍,从而构建自主创新能力。本文构建的理论模型是对自主创新能力理论的深化与补充,为推动后发中小企业探索自主创新道路提供有益参考。