Evaluating small business performance : a matched pair analysis of African Caribbean owned businesses in the UK

African Caribbean Owned Businesses (ACOBs) have been postulated as having performance-related problems especially when compared with other ethnic minority groups in Britain. This research investigates if ACOBs may be performing less than similar firms in the population and why this maybe so. Therefore the aspiration behind this study is one of ratifying the existence of performance differentials between ACOBs and White Asian Owned Businesses (WAOBs), by using a triangulation of methods and matched pair analysis. Every ACOB was matched along firm specific characteristics of age, size, legal form and industry (sector), with similar WAOBs. Findings show support for the hypothesis that ACOBs are more likely to perform less than the WAOBs; WAOBs out-performed ACOBs in the objective and subjective assessments. Though we found some differentials between both groups in the entrepreneur’s characteristics and various emphases in strategic orientation in overall business strategy. The most likely drivers of performance differentials were found in firm activities and operations. ACOBs tended to have brands that were not as popular in the mainstream with most of their manufactured goods being seen as ‘exotic’ while those by WAOBs were perceived as ‘traditional’. Moreover, ACOBs had a higher proportion of clients constituting of individuals than business organisations while the WAOBs had a higher proportion consisting of business organisations.

Burden or benefit? Regulation as a dynamic influence on small business performance

This article contributes to contemporary debates concerning the impact of regulation on small business performance. Reassessing previous studies, we build our insights on their useful, but partial, approaches. Prior studies treat regulation principally as a static and negative influence, thereby neglecting the full range of regulatory effects on business performance. This study adopts a more nuanced approach, one informed by critical realism, that conceptualises social reality as stratified, and social causality in terms of the actions of human agents situated within particular social-structural contexts. We theorise regulation as a dynamic force, enabling as well as constraining performance, generating contradictory performance effects. Such regulatory effects flow directly from adaptations to regulation, and indirectly via relationships with the wide range of close and distant stakeholders with whom small businesses interact. Future research should examine these contradictory regulatory influences on small business performance.

Small business performance:business, strategy and owner-manager characteristics

Purpose: This paper aims to contribute to the understanding of the factors that influence small to medium-sized enterprise (SME) performance and particularly, growth. Design/methodology/approach: This paper utilises an original data set of 360 SMEs employing 5-249 people to run logit regression models of employment growth, turnover growth and profitability. The models include characteristics of the businesses, the owner-managers and their strategies. Findings: The results suggest that size and age of enterprise dominate performance and are more important than strategy and the entrepreneurial characteristics of the owner. Having a business plan was also found to be important. Research limitations/implications: The results contribute to the development of theoretical and knowledge bases, as well as offering results that will be of interest to research and policy communities. The results are limited to a single survey, using cross-sectional data. Practical implications: The findings have a bearing on business growth strategy for policy makers. The results suggest that policy measures that promote the take-up of business plans and are targeted at younger, larger-sized businesses may have the greatest impact in terms of helping to facilitate business growth. Originality/value: A novel feature of the models is the incorporation of entrepreneurial traits and whether there were any collaborative joint venture arrangements. © Emerald Group Publishing Limited.

The role of law and ethics in developing business management as a profession

Currently, business management is far from being recognised as a profession. This paper suggests that a professional spirit should be developed which could function as a filter of commercial reasoning. Broadly, management will not be organised within the framework of a well-established profession unless formal knowledge, licensing, professional autonomy and professional codes of conduct are developed sufficiently. In developing business management as a profession, law may play a key role. Where the idea is that business management should be more professsionalised, managers must show that they are willing to adopt ethical values, while arriving at business decisions. The paper argues that ethics cannot survive without legal regulation, which, in turn, will not be supported by law unless lawyers can find alternative solutions to the large mechanisms of the official society, secured by the monopolised coercion of the nation state. From a micro perspective of law and business ethics, communities can be developed with their own conventions, rules and standards that are generated and sanctioned within the boundaries of the communities themselves.

Out of credit: Evaluating the impact of the EU structural funds on Hungarian small business growth and access to finance

Totaling EUR 29 billion, Hungary is in the midst of implementing its largest economic development program in its young democratic history. At the center of the European Union led development program is an effort to revitalize and reequip Hungary’s languishing small and medium sized enterprises (SME), long the country's heart of employment. This paper examines the efficiency and impact of two Structural Fund's instruments to enhance SME development – ECOP 2.1.1 and JEREMIE. A survey of 1275 SME and interviews with dozens of top policy-makers paint a flawed development program in dire need of reform. Despite this, empirical analysis suggests JEREMIE funds may have dampened the effects of the financial crisis and are crucial for the continued liquidity of SME, who have been particularly hit hard by the world financial crisis.

In Favor of Hospitality-Management Education

Despite the almost one-hundred-year history of hospitality-management education; the hundreds of well-established two-year, four-year, and graduate programs worldwide; and the hundreds of thousands of graduates those programs have prepared for careers in the industry, hospitality-management education’s merit and place in higher education are still questioned at times, to the dismay of hospitality educators the world over. This article delineates several features of hospitality management that make these programs valuable and unique and provides compelling arguments in its favor. The arguments include: 1) courses tailored to the hospitality industry, the world’s largest industry; 2) focus on small-business management as well as corporate enterprises; 3) emphasis on services and service management, not manufacturing; 4) programs and coursework focused on people management, which it at the core of the hospitality businesses; 5) unique focus on the specific issues of food and beverage management, the largest component of the hospitality industry; and 6) transferability of graduates’ knowledge and skill sets, which are in high demand among other service industries. While business programs focus on the fundamentals of management and production, hospitality- management programs prepare graduates who are aware of general management principles and are particularly well-versed in managing the guest experience and employees in a service environment.

Methods, Models & Systems for Dealing with Some Business, Management & Engineering Problems

This keynote presentation will report some of our research work and experience on the development and applications of relevant methods, models, systems and simulation techniques in support of different types and various levels of decision making for business, management and engineering. In particular, the following topics will be covered. Modelling, multi-agent-based simulation and analysis of the allocation management of carbon dioxide emission permits in China (Nanfeng Liu & Shuliang Li Agent-based simulation of the dynamic evolution of enterprise carbon assets (Yin Zeng & Shuliang Li) A framework & system for extracting and representing project knowledge contexts using topic models and dynamic knowledge maps: a big data perspective (Jin Xu, Zheng Li, Shuliang Li & Yanyan Zhang) Open innovation: intelligent model, social media & complex adaptive system simulation (Shuliang Li & Jim Zheng Li) A framework, model and software prototype for modelling and simulation for deshopping behaviour and how companies respond (Shawkat Rahman & Shuliang Li) Integrating multiple agents, simulation, knowledge bases and fuzzy logic for international marketing decision making (Shuliang Li & Jim Zheng Li) A Web-based hybrid intelligent system for combined conventional, digital, mobile, social media and mobile marketing strategy formulation (Shuliang Li & Jim Zheng Li) A hybrid intelligent model for Web & social media dynamics, and evolutionary and adaptive branding (Shuliang Li) A hybrid paradigm for modelling, simulation and analysis of brand virality in social media (Shuliang Li & Jim Zheng Li) Network configuration management: attack paradigms and architectures for computer network survivability (Tero Karvinen & Shuliang Li)

An Investigation into the Use of Computer-based Simulation Games for Learning and Teaching in Business Management Courses

Computer-based simulation games (CSG) are a form of innovation in learning and teaching. CGS are used more pervasively in various ways such as a class activity (formative exercises) and as part of summative assessments (Leemkuil and De Jong, 2012; Zantow et al., 2005). This study investigates the current and potential use of CGS in Worcester Business School’s (WBS) Business Management undergraduate programmes. The initial survey of off-the-shelf simulation reveals that there are various categories of simulations, with each offering varying levels of complexity and learning opportunities depending on the field of study. The findings suggest that whilst there is marginal adoption of the use CSG in learning and teaching, there is significant opportunity to increase the use of CSG in enhancing learning and learner achievement, especially in Level 5 modules. The use of CSG is situational and its adoption should be undertaken on a case-by-case basis. WBS can play a major role by creating an environment that encourages and supports the use of CSG as well as other forms of innovative learning and teaching methods. Thus the key recommendation involves providing module teams further support in embedding and integrating CSG into their modules.

A Study of Implicit Leadership Theories Among Business & Management Undergraduate Students

This qualitative study explores the subjective experience of being led by investigating the impact of their Implicit Leadership Theories (ILTs) on followers’ cognitive processes, affective responses and behavioural intentions towards leadership-claimants. The study explores how such responses influence the quality of hierarchical work-place relationships using a framework based on Leader-Member Exchange (LMX) Theory. The research uses focus groups to elicit descriptions of ILTs held by forty final year undergraduate Business and Management students. The data was then analysed using an abductive process permitting an interpretative understanding of the meanings participants attach to their past experiences and future expectations. This research addresses a perceived gap by making a theoretical contribution to knowledge and understanding in this field, focusing on how emotional responses affect their behaviour, how this impacts on organisational outcomes, and what the implications are for HRD practitioners. The findings support previous research into the content and structure of ILTs but extend these by examining the impact of affect on workplace behaviour. Findings demonstrate that where follower ILT needs are met then positive outcomes ensued for participants, their superiors, and their organisations. Conversely, where follower ILT needs are not matched, various negative effects emerged ranging from poor performance and impaired well-being, to withdrawal behaviour and outright rebellion. The research findings suggest dynamic reciprocal links amongst outcomes, behaviours, and LMX, and demonstrate an alignment of cognitive, emotional and behavioural responses that correspond to either high-LMX or low-LMX relationships, with major impacts on job satisfaction, commitment and well-being. Copyright

A REVIEW OF THE SMALL BUSINESS DEVELOPMENT CENTERS PROGRAM

Members of the General Assembly requested that we conduct an audit of the Small Business Development Centers program. We planned to review the accuracy of the program’s reporting of its effectiveness, expenditures, and structure. The audit objectives were listed as follows: Determine if the SBDC program’s reporting, including the program’s effectiveness, is in compliance with the U.S. Small Business Administration’s guidelines and is accurate and complete ; Determine if the current structure of the SBDC is the most beneficial to the small business clients, provides appropriate oversight to SBDC staff, and allows for necessary sharing of best practices throughout all SBDC offices ; Review a sample of SBDC’s use of funding to ensure that the program is efficiently handling federal, state, and other funds for expenditures, including technology upgrades and training conferences.

Key competences in the new ventures: a model for evaluating

This research studies from an internal view based on the Competency-Based Perspective (CBP), key organizational competencies developed for small new business. CBP is chosen in an attempt to explain the differences characterizing the closed companies from the consolidated ones. The main contribution of this paper is the definition of a set of key organizational competencies for new ventures from services and low technology based sectors. Using the classification proposed by [1] and a review of the entrepreneurship literature, the main competencies were defined and classified as: managerial, input-based, transformation-based, and output-based competencies. The proposed model for evaluating new ventures organizational competence is tested by means of Structural Equation