The survival and development of SMEs (small and medium enterprises) is an important issue for the Chinese economy. In particular, business succession in SMEs is a persistent issue. Business succession involves selecti...The survival and development of SMEs (small and medium enterprises) is an important issue for the Chinese economy. In particular, business succession in SMEs is a persistent issue. Business succession involves selection of a successor, asset inheritance, transfer of management rights, accumulation of business connections and technology succession, and soforth. This all requires smooth execution of a business succession plan. However, many SMEs do not have a business succession plan, nor are they preparing one. Our task is to explore the reasons these preparations are not being made. Here, the purpose of our research is to get a picture of the status of preparations for business succession in SMEs in China, and the actual circumstances of succession, based on the results of a fact-finding survey of Chinese SMEs, and at the same time bring to the surface the primary factors which influence preparations and plans. The results of the analysis shed light on the status of business succession preparations, successor’s awareness of issues, decision making, and so on. This survey highlights the awareness of business succession among business managers.展开更多
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...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.展开更多
This study reflects the specificities of family small- and medium-sized enterprises （SMEs） which are related to values, culture, and relationships with the territory （local context）. In the following sustainable a...This study reflects the specificities of family small- and medium-sized enterprises （SMEs） which are related to values, culture, and relationships with the territory （local context）. In the following sustainable and corporate social responsibility （CSR）-oriented strategies, family businesses are ＂assisted＂ by the presence of entrepreneurial values which are tied to and derived from the social system in the territory in which they are located. The aim of this study is to demonstrate that the consolidation of stable and durable relations between the family business and the local context depends on the presence of shared values between the members of the family and the stakeholders, all components of civil society are within the same territory. Such values are the fruit of a given territory＇s civic traditions. They are the result of an anthropological culture which is typical of the socioeconomic environment in which the entrepreneur, the family, and the business are all rooted, thus, they are expressions of a culture ＂of the place＂.展开更多
In present digital era,data science techniques exploit artificial intelligence(AI)techniques who start and run small and medium-sized enterprises(SMEs)to have an impact and develop their businesses.Data science integr...In present digital era,data science techniques exploit artificial intelligence(AI)techniques who start and run small and medium-sized enterprises(SMEs)to have an impact and develop their businesses.Data science integrates the conventions of econometrics with the technological elements of data science.It make use of machine learning(ML),predictive and prescriptive analytics to effectively understand financial data and solve related problems.Smart technologies for SMEs enable allows the firm to get smarter with their processes and offers efficient operations.At the same time,it is needed to develop an effective tool which can assist small to medium sized enterprises to forecast business failure as well as financial crisis.AI becomes a familiar tool for several businesses due to the fact that it concentrates on the design of intelligent decision making tools to solve particular real time problems.With this motivation,this paper presents a new AI based optimal functional link neural network(FLNN)based financial crisis prediction(FCP)model forSMEs.The proposed model involves preprocessing,feature selection,classification,and parameter tuning.At the initial stage,the financial data of the enterprises are collected and are preprocessed to enhance the quality of the data.Besides,a novel chaotic grasshopper optimization algorithm(CGOA)based feature selection technique is applied for the optimal selection of features.Moreover,functional link neural network(FLNN)model is employed for the classification of the feature reduced data.Finally,the efficiency of theFLNNmodel can be improvised by the use of cat swarm optimizer(CSO)algorithm.A detailed experimental validation process takes place on Polish dataset to ensure the performance of the presented model.The experimental studies demonstrated that the CGOA-FLNN-CSO model has accomplished maximum prediction accuracy of 98.830%,92.100%,and 95.220%on the applied Polish dataset Year I-III respectively.展开更多
文摘The survival and development of SMEs (small and medium enterprises) is an important issue for the Chinese economy. In particular, business succession in SMEs is a persistent issue. Business succession involves selection of a successor, asset inheritance, transfer of management rights, accumulation of business connections and technology succession, and soforth. This all requires smooth execution of a business succession plan. However, many SMEs do not have a business succession plan, nor are they preparing one. Our task is to explore the reasons these preparations are not being made. Here, the purpose of our research is to get a picture of the status of preparations for business succession in SMEs in China, and the actual circumstances of succession, based on the results of a fact-finding survey of Chinese SMEs, and at the same time bring to the surface the primary factors which influence preparations and plans. The results of the analysis shed light on the status of business succession preparations, successor’s awareness of issues, decision making, and so on. This survey highlights the awareness of business succession among business managers.
文摘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.
文摘This study reflects the specificities of family small- and medium-sized enterprises （SMEs） which are related to values, culture, and relationships with the territory （local context）. In the following sustainable and corporate social responsibility （CSR）-oriented strategies, family businesses are ＂assisted＂ by the presence of entrepreneurial values which are tied to and derived from the social system in the territory in which they are located. The aim of this study is to demonstrate that the consolidation of stable and durable relations between the family business and the local context depends on the presence of shared values between the members of the family and the stakeholders, all components of civil society are within the same territory. Such values are the fruit of a given territory＇s civic traditions. They are the result of an anthropological culture which is typical of the socioeconomic environment in which the entrepreneur, the family, and the business are all rooted, thus, they are expressions of a culture ＂of the place＂.
基金The authors extend their appreciation to the Deanship of Scientific Research at King Khalid University for funding this work under Grant Number(RGP 1/147/42),www.kku.edu.sa.This research was funded by the Deanship of Scientific Research at Princess Nourah bint Abdulrahman University through the Fast-Track Path of Research Funding Program.
文摘In present digital era,data science techniques exploit artificial intelligence(AI)techniques who start and run small and medium-sized enterprises(SMEs)to have an impact and develop their businesses.Data science integrates the conventions of econometrics with the technological elements of data science.It make use of machine learning(ML),predictive and prescriptive analytics to effectively understand financial data and solve related problems.Smart technologies for SMEs enable allows the firm to get smarter with their processes and offers efficient operations.At the same time,it is needed to develop an effective tool which can assist small to medium sized enterprises to forecast business failure as well as financial crisis.AI becomes a familiar tool for several businesses due to the fact that it concentrates on the design of intelligent decision making tools to solve particular real time problems.With this motivation,this paper presents a new AI based optimal functional link neural network(FLNN)based financial crisis prediction(FCP)model forSMEs.The proposed model involves preprocessing,feature selection,classification,and parameter tuning.At the initial stage,the financial data of the enterprises are collected and are preprocessed to enhance the quality of the data.Besides,a novel chaotic grasshopper optimization algorithm(CGOA)based feature selection technique is applied for the optimal selection of features.Moreover,functional link neural network(FLNN)model is employed for the classification of the feature reduced data.Finally,the efficiency of theFLNNmodel can be improvised by the use of cat swarm optimizer(CSO)algorithm.A detailed experimental validation process takes place on Polish dataset to ensure the performance of the presented model.The experimental studies demonstrated that the CGOA-FLNN-CSO model has accomplished maximum prediction accuracy of 98.830%,92.100%,and 95.220%on the applied Polish dataset Year I-III respectively.
