Business, Management and Economics Research
Online ISSN: 2412-1770
Print ISSN: 2413-855X
Print ISSN: 2413-855X
Volume 2 Number 1 January 2016
Access to Finance and Attrition Relationship of Small and Medium Textile Firms in Nigeria
Authors: Moses O. Ode ; R. Odhiambo, G. Orwa ; Egena Ode
This study focused on the relationship between access to finance and attrition in small and medium textiles firms in Nigeria. The study became necessary due to the moribund nature of the textile industry in Nigeria. The sector was the second largest employer of labour but declined rapidly in productivity between 1991 and 2000, with 80 textile firms closing shop. The study takes a firm specific approach to help investigate the source of decline. Commentators on the causes of the downward trend in the textile industry had mentioned many perceived factors including access to finance. The purpose of this study is to isolate access to finance and to subject it to more intensive investigation. To do this effectively, a sampling frame which contained the list of the collapsed and standing firms was obtained from the textile manufacturers association of Nigeria based in Kaduna. All the selected firms were of medium category. A purposive sampling was used to enlist 3 entrepreneurs each from both failed and successful textile firms and 10 senior managers of failed and 4 senior managers of successful firms for a pilot study. Using a snow-balling technique, 196 respondents comprising owners and senior managers from failed firms were administered semi-structured & unstructured questionnaire whilst 160 questionnaire were also administered on owners and senior managers from successful firms. A total of 232 questionnaire were retrieved representing 65% of questionnaires sent out. The statistical tools used for testing are correlation, ANOVA and Regression. The analysis shows that the correlation between access to finance and the attrition of textiles industries in Nigeria implying a strong negative relationship between access to finance and the attrition of textile industries in Nigeria. It is recommended that textile industries take advantage of the most recent source of financing which is the Nigeria industrial bank. Financial discipline needs to be practiced by textile entrepreneurs in order to distinguish between company funds and personal funds.
Country-Of-Origin Effects on New Products Launch: Romanian Consumers? Perception on National Products
Authors: Stoenescu Roxana-Denisa ; Căpățînă Gabriela
In this era of globalization, the companies follow to achieve performance based on the relationship between national culture and new product launch – as an essential field for academic research and managerial practice. Through the literature review, we attempt to provide a clarification of this relationship considering the consumers’ perception on national product originated from Romania. The research conducted in this paper focused on Romanian consumers’ perception of their national products. Through a qualitative study, we explore the importance of country-of-origin on consumers’ decision to buy a new product, as well as their motives to prefer a Romanian product or a foreign one. The findings suggest that a favorable country image is essential in triggering the buying intention and that Romania still has a long path to go in order to establish a positive image in the minds of its targeted segment of consumers.
How Do Companies Implement Process Management? The Case of Cantabrian Companies
Authors: Lidia Sanchez-Ruiz ; Beatriz Blanco
The constant, and sometimes radical, changes that are taking place in the business environment demand that companies develop more agile mechanisms and management systems that enable them to adapt and, above all, to be competitive. All this means that companies must be able to continuously and quickly adapt to change. In order to do this, they need to develop agile and flexible structures. Process management is a mechanism that arises to meet these new needs, giving the company the flexibility to develop their business in today’s competitive environment. Despite the importance of process management techniques, several authors affirm that a high percentage of process management initiatives fail. Therefore, the aim of this study is to analyse how companies implement process management. Specifically, we would like to know who the people responsible for the implementation were and which phases or steps they followed. In order to achieve this aim, a survey was conducted among companies over 20 employees from Cantabria (a region in the North of Spain) which practised process management. Results show that a high percentage of companies sought external consultancy when implementing process management, especially during the initial stages. Concerning the implementation stages, an implementation methodology is proposed. Results show that it may be considered as appropriate due to the fact that all the stages are frequently used. Overall, we consider that from a theoretical point of view this study adds value to the field as it offers, first, a review gathering together the main implementation methodologies identified along the literature; and secondly it describes the results of an empirical study based on Spain, covering an existing gap. On the other side, from the practitioners’ point of view, this study could be used as guide for them. Not only because of the literature review, but especially because of the empirical case. From the obtained result managers could learn what other companies did when implementing process management. And, specially, they can identify what other companies did wrong in order not to repeat it.