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- Characteristics of innovative, high growth and highly successful SMEs
- Characteristics of innovative, high growth and highly successful SMEs
- The Characteristics of SMEs in Dubai and Their Impact on Innovation
What character traits do you need to succeed as an SME today? Some results may surprise, according to a new report released by NAB. Success as an Australian SME business today is less about being a good financial manager and more about passion, persistence and having a growth mindset, according to Moments that Matter , a recent report from NAB. Could passion, purpose and persistence be the new three Ps?
Characteristics of innovative, high growth and highly successful SMEs
The recent literature discusses integrated logistics chain manage- ment quite extensively, but most studies address the issue from the standpoint of large firms.
Given the importance of SMEs in the economies of industrialized countries, and given, too, that a constantly growing number of such firms will have to replace their management methods by logistically integrated practices, the authors of this study believe that it is important to examine the characteristics and features of SMEs in order to identify those favorable and unfavorable to logistics integration.
SMEs and Logistics: amount of information to be processed. A Literature Overview The difficulty lies to a large extent in the The consequences of logistics-related fact that the space occupied by logistics strategic decisions have become increas- chains has increased considerably and ingly difficult to judge, partly because of has become much more complex, not the many different transportation, distri- only because of economic globalization bution, supply, and production options but also because of a number of other but also because of the complex analy- factors see Table 1.
Logistics integration ses required to identify the best decision appears to be inevitable as a solution to sequences and the virtually unlimited this complexity. For example, Holmlund Dr. His research focuses on data-envelopment analysis, quality control, forecasting, inventory control, logistics, and just-in-time delivery. His research interests concern logistics performance evaluation for SMEs, road-transportation enter- prises competitiveness, logistical coordination, and air-freight development strategies.
Lastly, the information tech- shorter product life cycles, market glob- nologies currently available Enterprise alization, and strong pressure on prof- requirement planning ERP systems for itability. Kasouf and Celuch also example allow for overall logistics chain propose a number of factors favorable to management, giving a significant com- logistics integration, including pressures petitive advantage to users and creating forcing firms to reduce new product new standards for competitors.
Reflec- development times and increase devel- tions such as these on logistics integra- opment budgets and changes in supply tion can be traced back to the s and subcontracting practices due to a Bowersox, Closs, and Helferich Despite the popularity of the inte- Logistics integration consists in imple- grated logistics concept and its many menting mechanisms to ensure fluidity of applications supply-chain management, physical and information flows, accuracy efficient consumer response, and so of information, and application of forth , very few publications have dis- decisions within the supply chain.
The cussed it from the standpoint of small phenomenon of logistics integration is and medium-sized enterprises SMEs. First, using partial approaches to erate interest in the s, when Love logistics problems enhances the potential and Gilmour published one of the for inconsistency in the decision-making first works to consider logistics as it process.
However, this first considering local solutions alone. Third, step was not taken up by the scientific some of the more advanced competitive community in general Murphy, Daley, strategies cannot be applied unless the and Knemeyer Murphy, However, for many SMEs, logistics Daley, and Knemeyer described chain integration often is triggered by an exploratory study of logistics man- pressure from customers or order-givers.
With regard to the adopt a pull approach where the market international aspects, Murphy, Daley, and pulls production rather than the tradi- Dalenberg examined the logistics tional push approach, tend to have an practices of SMEs from the standpoint of increasingly global vision of their logis- distribution and the use of intermediaries tics chain.
Strategies therefore no longer for certain specialized logistics tasks on can be established in isolation by indi- international markets. With regard to vidual firms, since the value chain strat- transportation, Evans, Feldman, and egy as a whole takes precedence. This Foster considered the problem of was shown by De Toni, Nassimbeni, and selecting carriers and transportation- Tonchia in the case of relations related services, and Pearson and between five order-givers and 31 SMEs in Semeijn showed that large firms northern Italy.
As a result, small suppli- and SMEs used the same carrier-selection ers find themselves subordinated to the criteria for international logistics. With interests of large order-givers and their regard to supplies, Pearson and Ellram supply chains. To survive, they must be considered the selection and eval- able to develop their technical and orga- uation of suppliers in SMEs.
There are nizational skills. Holmlund and Koch also a certain number of other publica- studied four small suppliers and tions on specific subjects such as quality showed that, despite greater confidence management Ahire and Golhar and a large number of exchanges and identification of information to between suppliers and order-givers, the react to threats and opportunities in the order-givers always dominated the rela- environment Lang, Calantone, and tionship, and the suppliers were more or Gudmundson Kasouf and Celuch Issues showed that SMEs in fact can benefit Today, successful firms know how from partnerships or strategic alliances important it is to adapt to the demands as vehicles to help them develop logis- of logistics integration.
This observation tics skills even with limited resources. This growth. If SMEs are to be able pressure on their partners suppliers to achieve this level of competency, the and customers —often SMEs—to adopt order-givers LMEs must recognize compatible management practices De the value of these critical resources in Toni, Nassimbeni, and Tonchia For example, suppliers could be world-class partners involves more than asked to intervene at the product design simply demanding small-batch deliver- stage, exchanging technical and techno- ies, being informed of delivery and logical knowledge, thus reducing pro- receipt dates, and attending a few train- duction costs and cycle times and ing sessions.
Landry felt that allowing the various contributions to be effective management of commercial coordinated more precisely. At from their expertise and to enhance their every level transaction, information, information processing, production, planning, and innovation , their tasks, supply, and distribution skills to a highly functions, and responsibilities now are competitive level. The use of modern defined in a systemic analysis that is technology, sharing of information with largely out of their control.
Such are clearly essential to the success of practices become issues and challenges integrated management. The SMEs for SMEs, which find it increasingly dif- involved in such a process will obtain a ficult to control their development strate- number of benefits long-term commit- gies as a result.
The trend toward mass ment, increased market share, transfers customization is therefore a challenge of knowledge, and so forth but also will that calls into question the main strength face some disadvantages risk of quasi- of many SMEs, namely their highly spe- integration, unilateral dependency, con- cialized skills that enable them to meet flicts due to uneven distribution of gains the needs of specific market niches from the partnership, and so forth.
In Rhodes and Carter Part of the answer to this question The fact that few studies deal with lies in the explosion of production integrated logistics chain management in systems caused mainly by the fact that SMEs also explains why SMEs generally firms have refocused their activities on use the model imposed by LMEs. It is their basic skills and therefore need important to remember that LMEs are effective logistics integration mecha- often the instigators of major realign- nisms.
SMEs must reposition themselves ments in management methods. The new relations system from a cooperative approach. On the resulting from logistics integration other hand, it is far from certain that allows order-givers to express generic as what suits the LME will be compatible opposed to quantitative requirements. It is also between SMEs and their order-givers, a important to remember that logistics new shared enterprise emerges in a integration mechanisms have their own unified logistic that is illustrated in imperatives, including partnerships and Figure 1, which clearly shows that SMEs alliances, networking, logistics subcon- interrelate with upstream and down- tracting, outsourcing of low value-added stream organizations at several levels.
They therefore must account for for SMEs to position themselves so as to their performance to several order-givers be able to meet those imperatives. Analyzing the characteristics and fea- The following analysis of SME char- tures of SMEs from the standpoint of acteristics and features, and their conse- integrated logistics chain management is quences for integrated logistics is based not only important from an analytical on a review of the empirical and theo- point of view.
The discussion of the appropri- tics suggest that SMEs are major eco- ateness of integrated logistics chain nomic agents for industrialized countries management for SMEs is based on the Light ; Acs Ongoing mostly SMEs. Also, consideration, namely those related to there is often a power dynamic between operations management. LMEs of Transportation Bigras et al.
In all, through additional costs Porter The page competitive level Rhodes and Carter questionnaire concerned the characteris- ; Kasouf and Celuch , and this tics of the logistics process, the presence interest obviously has an impact on of a structured logistics function, logis- SMEs, many of which will need to ques- tics outsourcing, logistics costs, logistics tion and to improve their logistics per- activities, logistics practices, and training formance.
Given the importance of needs. SMEs in the industrialized world, it is not only extremely useful for researchers to SMEs and Management consider issues related to integrated The entrepreneur is a key figure in logistics chain management in SMEs, but small business operations Filion ; it is also a challenge because of the char- Winston and Heiko ; Julien and acteristics of SMEs. To understand this Marchesnay With regard In addition, however, the owner— to this latter point, Bigras et al.
Gasse viders to obtain a competitive advantage, postulated that entrepreneurs have a compared with just 48 percent of SMEs. On the other hand, they and Tonchia However, even a possibilities rather than problems, to partnership strategy is likely to be adapt to the environment by anticipating affected by the de facto power dynamic changes, and to manage by priority.
Some recent its autonomy and power Landry and studies have highlighted the importance Trudel ; St-John and Heriot Generally speaking, however, confidential information. The study by logistics integration can benefit from the Bigras et al.
In addition, for Indeed, just 61 percent of SMEs said they entrepreneurs seeking effectiveness were involved in at least one partnership rather than efficiency, it always is possi- with a supplier, compared with nearly 88 ble that attempts at logistics integration percent of LMEs, and only 5 percent of will be driven more by the possibility of SMEs were involved in partnerships with quick profits than by a systemic devel- logistics suppliers, compared with 37 opment strategy based on integration percent of LMEs.
These effects, linked to and expertise of the owner—manager rigorous market segmentation and to the Winston and Heiko They operate speed of change made necessary by with more organic than hierarchical or quick transformations in the needs of mechanistic structures Mintzberg , downstream markets, explain the im- and as a result the decision-making portance of SMEs in the economies of process is often less complex, is focused industrialized countries.
These characteristics clear advantage, because in operational can be advantageous for logistics inte- terms it is one of the most important gration, in particular because they natu- integration mechanisms small batch rally encourage minimization of delays in production, low costs, short setup times, the integration process and in identify- versatility.
Indeed, it long has been ing solutions to basic problems. This well could facilitate logistics SME flexibility also can have an indi- integration, which itself requires a high rect favorable impact on logistics inte- level of internal involvement of the gration by acting as a counterweight to workforce and participatory manage- the stronger position of the LME in its ment and external close relationships relationship with the SME.
If the LME with upstream and downstream markets cannot acquire the internal flexibility and interactivity. Such a vision authors have examined the differences cannot be achieved by an organization between SMEs and LMEs from the logis- unless it reviews the way information cir- tics standpoint. However, it is reasonable culates internally, reconsiders the role of to think that fewer SMEs will have for- its commercial partners as sources of malized their logistics activities.
In the information relevant to the decision- study by Bigras et al. However, logistics inte- petent resources to guide them in their gration needs more than generic infor- choice. For SMEs, therefore, the problem mation concerning the evolution of the is not the why but the how. Etkin, Richardson , and information Raiszadeh, and Hunt have con- quality in general. For example, the study by Bigras This is likely to have a negative impact et al.
Indeed, Bigras et al. The link the longer term more than a year were between utilization of information tech- LMEs.
This, their use of information management as combined with a relatively short strate- a logistics integration mechanism. Finan- gic planning horizon two years or less , cial limitations, often in the form of poor could have a positive impact on logistics cash flow, make it more difficult to integration, since the SME probably will acquire equipment, to hire experts, adopt a natural step-by-step approach and to manage computer systems.
The and will take action within a relatively resources available for information man- short timeframe. Although more timeframe and the actual time required LMEs are asking their suppliers to inte- to implement the integration mecha- grate logistically De Toni, Nassimbeni, nisms.
For example, case studies In terms of strategic planning, therefore, carried out by the Bombardier Chair SMEs well may be forced to develop in the Management of Technological distinctive expertise and skills quickly.
The same study mechanism. This difference between showed that more LMEs than SMEs had strategic and actual time suggests that sent their employees for training in the some small firms may be unrealistic last five years. Table 2 indicates the per- when estimating the time required to centages of small firms and LMEs that had obtain a return on their investments. For LMEs, the fact of restruc- Operations management is a very turing their partner networks and of important element in logistics integration entering into exclusive long-term for SMEs.
Characteristics of innovative, high growth and highly successful SMEs
Skip to search form Skip to main content You are currently offline. Some features of the site may not work correctly. Drawing on the results from a questionnaire survey conducted in North Cyprus — a small island, this paper discusses the effects of organizational characteristics of manufacturing small and medium-sized enterprises SMEs. The SME sector is receiving increasing recognition and, as part of this, its characteristics have received a great deal of attention in recent years. Save to Library. Create Alert. Launch Research Feed.
PDF | This paper reports on the small and medium enterprises (SMEs) business characteristics in rural places of Southern KwaZulu-Natal.
The Characteristics of SMEs in Dubai and Their Impact on Innovation
Read this article to learn about the meaning, characteristics and problems of small business enterprises. Small business may be defined in various ways e. However, in India, small business is defined by Government, as consisting of the following four types of businesses:. The investment in plant and machinery not to exceed Rs. The investment in plant and machinery is up to Rs.
Not a MyNAP member yet? Register for a free account to start saving and receiving special member only perks. Because the business environment and product requirements keep changing, the requirements imposed on suppliers and the processes of supply chain building and integration are also changing.
There is lack of homogeneity within the SME definition, beyond that of being different to large organisations. Furthermore, size classifications within SMEs are not the sole differentiating factor, but they represent a key factor and initial starting point for studying SMEs, ILO
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Not every small business eventually grows to the size of large corporation. Some businesses are ideally suited to operate on a small scale for years, often serving a local community and generating just enough profit to take care of company owners. Small-scale businesses display a distinct set of identifying characteristics that set them apart from their larger competitors. Small-scale business revenue is generally lower than companies that operate on a larger scale. The Small Business Administration classifies small businesses as companies that bring in less than a specific amount of revenue, depending on the business type.
Actively scan device characteristics for identification. Use precise geolocation data. Select personalised content. Create a personalised content profile. Measure ad performance.
Small and medium-sized enterprises SMEs or small and medium-sized businesses SMBs are businesses whose personnel numbers fall below certain limits. In any given national economy , SMEs sometimes outnumber large companies by a wide margin and also employ many more people. In Chile , in the commercial year , In developing countries, smaller micro and informal firms, have a larger share [ of what? SMEs are important for economic and social reasons, given the sectors role in employment.
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