The Sales Process Practice of Food and Drink SMEs - A Holistic Conceptual Framework: Steps, dimensions, barriers and enablers.

Purpose –The research examines the sales process practised by SMEs, and barriers and enablers that hinder and support effective selling practices from the selling organisation’s perspective in Scottish-based Food and Drink firms. Design/methodology approach - – The paper adopts an interpretivist perspective with qualitative data gathered through face-to-face semi-structured interviews. 20 people involved in selling activities were interviewed from 15 SMEs across Scotland. Thematic analysis established key findings regarding the sales process practice. Findings – Five themes emerged that affect the operationalisation of the selling process: the owner manager has considerable involvement in the sales process, SMEs with some degree of sales knowledge take a more systematic approach, SMEs lack awareness of how CRM technology can assist them, power is tipped in favour of the buyer and, the geographic location of the SME places constraints on how SMEs conduct business Research limitation/implication – Thematic analysis was chosen over other more traditional methods due to the lack of relevant quantitative data. The phenomenon of the research and research methodology means that it will not be possible to repeat this study and replicate its findings. However, the process that has been adopted does provide a basis for future research. Originality/value - The paper identifies areas where future research is required in the field alongside suggestions where policy makers and government business agencies might focus intervention to assist SMEs improve delivery of the sales process and selling effectiveness

Islamic corporate financing : does it promote profit and loss sharing?

Islamic financing instruments can be categorised into profit and loss/risk sharing and non-participatory instruments. Although profit and loss sharing instruments such as musharakah are widely accepted as the ideal form of Islamic financing, prior studies suggest that alternative instruments such as murabahah are preferred by Islamic banks. Nevertheless, prior studies did not explore factors that influence the use of Islamic financing among non-financial firms. Our study fills this gap and contributes new knowledge in several ways. First, we find no evidence of widespread use of Islamic financing instruments across non-financial firms. This is because the instruments are mostly used by less profitable firms with higher leverage (i.e., risky firms). Second, we find that profit and loss sharing instruments are hardly used, whilst the use of murabahah is dominant. Consistent with the prediction of moral-hazard-risk avoidance theory, further analysis suggests that users with a lower asset base (to serve as collateral) are associated with murabahah financing. Third, we present a critical discourse on the contentious nature of murabahah as practised. The economic significance and ethical issues associated with murabahah as practised should trigger serious efforts to steer Islamic corporate financing towards risk-sharing more than the controversial rent-seeking practice.