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Effect of Financial Factors on the Performance of Small Medium Enterprises in Abuja Nigeria
Issue:
Volume 9, Issue 4, December 2021
Pages:
121-129
Received:
1 September 2021
Accepted:
23 September 2021
Published:
16 October 2021
Abstract: Finance in any organization plays an important role to the up-liftment of the organization. Accordingly, SMEs sector has been attracting enough attention based on its potentials in the economic transformation of the country. The study therefore investigates financial factors on the performance of SMEs in Abuja, Nigeria. Statistically, for every five new SMEs, there is a record of three failed SMEs within the first year of existence because of inadequate of accessible finance, collateral and insufficient finances to acquire technological capability for business performance and growth. The research design employed was survey and the population of the SMEs in Abuja was 2690. Using the Taro Yamane formula of 1967, the population was reduced to 348, which formed the sample size of the study. The tools of analysis employed was descriptive statistics and the OLS method of regression was used to analyse the data giving to the respondents. With this, findings revealed that financial factors (proxy: access to finance, insufficient financing and collateral) has no positive significant effect on the performance (efficiency) of SMEs in Abuja, Nigeria. Based on this finding, the study therefore recommends that SMEs in Abuja should put together healthy practice of financial management, which include usage and planning of financial facts in SMEs operations. Furthermore, Government of Nigeria should do more to complete remove the gap in financing encountered by SMEs by being directly involved such as interventions from the government, which include credit guarantee schemes, support financing through public banks among others.
Abstract: Finance in any organization plays an important role to the up-liftment of the organization. Accordingly, SMEs sector has been attracting enough attention based on its potentials in the economic transformation of the country. The study therefore investigates financial factors on the performance of SMEs in Abuja, Nigeria. Statistically, for every fiv...
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Analysis on Background Investigation in International Business Negotiations
Issue:
Volume 9, Issue 4, December 2021
Pages:
130-135
Received:
26 September 2021
Accepted:
30 October 2021
Published:
5 November 2021
Abstract: During international business negotiations, the stakeholders of business activities in different countries or regions negotiate the various elements of a transaction for the purpose of economic interests or in order to complete a transaction. International business negotiations are very important in international business activities which are means to solve the conflict of interests and achieve common interests among the subjects of business activities of different countries. Background investigation makes solid foundation for the further phases of negotiations, which directly dtermines the success of negotiations. The paper focuses on background investigation of international business negotiations to fulfill the anticipated objectives. In order to give instructions to the negotiating parties who are willing to obtain benefits from the negotiations, Contents of Background Survey, including Negotiation Environment Survey, Market Information Survey, and Survey on Negotiating Partner; Means of Background Investigation including Information Channels of Background Investigation, Methods of Background Investigation, Principles of Background Investigation are analysed in details. Only abundant consideration given during negotiations and enough background investigation made, will it be possible to achieve a win-win result after the negotiations. Extra attention given to 5 Methods of Background Investigation and 5 Principles of Background Investigation, which will give instructions to negotiating partners for better background investigation and resulting in better benefits to both sides.
Abstract: During international business negotiations, the stakeholders of business activities in different countries or regions negotiate the various elements of a transaction for the purpose of economic interests or in order to complete a transaction. International business negotiations are very important in international business activities which are means...
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The Suitability of Government Interventions on Markets in Modern Era
Issue:
Volume 9, Issue 4, December 2021
Pages:
136-140
Received:
5 October 2021
Accepted:
5 November 2021
Published:
12 November 2021
Abstract: This paper discusses different types of economic policy. In recent years of economic unrest since the Great Recession of 2008 and 2009 to the current global virus outbreak crisis of COVID-19 pandemic, the public and academia raised the long-debated question again: should, and to what extent government should intervene the market. The major focus of this paper is on the use of regulatory policy, monetary policy, fiscal policy, and their applications in real world, with examples that spanned different time periods of time. The first part of the paper we will first explain the tree policies that government or central bank usually uses, which include the introduction of the specific tools each type of policy would use and discuss its benefits and shortcomings. In the next part of this paper, we discussed the various type of policy responses made by the US government and Federal Reserve during the COVID-19 era to illustrate how these policies discussed in this paper could be implemented to help the economy. In the last part of paper, we made the conclusion on the topic: even though government intervention sometimes distorts the market, but we believe the various kinds of policies are necessary to restore the normality of economy under turmoil time.
Abstract: This paper discusses different types of economic policy. In recent years of economic unrest since the Great Recession of 2008 and 2009 to the current global virus outbreak crisis of COVID-19 pandemic, the public and academia raised the long-debated question again: should, and to what extent government should intervene the market. The major focus of...
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Private Sector Employee Engagement Strategies in Botswana: Case of Choppies Retail Store
Issue:
Volume 9, Issue 4, December 2021
Pages:
141-150
Received:
2 August 2021
Accepted:
23 August 2021
Published:
24 December 2021
Abstract: The purpose of this paper is to evaluate employee engagement strategies applied by the Botswana Private Sector with reference to Choppies Retail Store in Botswana. The focus of the paper, Choppies Botswana, is one of the fastest growing retail companies. The Chain store’s growth notwithstanding, it is currently experiencing challenges related to lack of employee commitment due to non-engagement on the part of management. Additionally, the retail chain is beset with problems related to unsatisfactory customer service and a low level of minimum wage. According to the available body of literature, employee engagement exists when employees are committed to organizational goals and success. Employee engagement strategies usually used by management are employee rewards and communication. Employee rewards is the recognition and rewarding of outstanding performance employees. Communication is entails deliberate efforts by management in imparting or exchanging information about the organization through different means of communication. Engagement strategies are therefore, critical in employee engagement in an organisation such as Choppies Retail Stores. The chain can implement this strategy in its organisational system by rewarding outstanding employee performance. Rewards are an incentive for more employee input and effort. The findings of this paper proved that the application of these strategies has the potential to increase organisational profitability. The researcher recommends that Choppies Retail Stores designs and implements a detailed written plan for employee engagement strategy. This is a paper of relevance to both policy makers in the Botswana Private Sector, Private Sector Trade Unions, and employees of Choppies Retail Stores.
Abstract: The purpose of this paper is to evaluate employee engagement strategies applied by the Botswana Private Sector with reference to Choppies Retail Store in Botswana. The focus of the paper, Choppies Botswana, is one of the fastest growing retail companies. The Chain store’s growth notwithstanding, it is currently experiencing challenges related to la...
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The Impact of Performance Budgeting on Defense Resource Allocation
Issue:
Volume 9, Issue 4, December 2021
Pages:
151-156
Received:
9 December 2021
Accepted:
17 December 2021
Published:
29 December 2021
Abstract: Performance information utilization is an important method to improve budget efficiency and organizational performance. The nature of performance budgeting is to apply performance information to the budgeting process. Research on the impact of government or department performance budgeting on resource allocation has always been controversial. On the one hand, there are many external interference factors in government or department for integrating performance information and budget; on the other hand, there are defects in the generation and quality of performance information of public organizations, and the impact of performance information at different levels on resource allocation is quite different. Therefore, the objective of this paper is to study the impact of based-program performance budgeting within the department on resource allocation. The U.S. Department of Defense, as the largest single department entity in the world, is typical in integrating performance information and budget processes. Using data from the U.S. Department of Defense for fiscal years 2010-2017, this study finds that performance information at the program level within the department has a positive impact on defense resource allocation. Therefore, the integration of performance information into the budgeting process can improve sector budget in spite of political constraints. However, there are many constraints and organizational differences to successfully integrate performance information into the budgeting process in departmental budgeting.
Abstract: Performance information utilization is an important method to improve budget efficiency and organizational performance. The nature of performance budgeting is to apply performance information to the budgeting process. Research on the impact of government or department performance budgeting on resource allocation has always been controversial. On th...
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