Stimulating Components for Business Development in Latin American SMEs

Abstract

This study aims to analyze the stimulating components for business development in Latin American SMEs (case: Colombia).For this purpose, the unit of analysis was the companies listed in the Legiscomex database (trade intelligence) as of December 31, 2019, which integrates the national databases of companies registered and validated by the National Tax and Customs Administration the Confederation of Chambers of Commerce of Colombia. For this exercise of the impact of the four components of business development, 100,000 iterations were defined (Monte Carlo method), which represents a large amount of random data on the information parameters collected and accumulated to estimate a probability distribution of the success that the companies would have in real life, having as input the specific information of financial management,knowledge management, innovation processes and marketing. The results reflect that business development is influenced by four components in the following proportion: Financial Management (30%), Knowledge Management (25%), Innovation Processes (25%) and Marketing (20%).

The Role of B Companies in Tourism towards Recovery from the Crisis COVID-19 Inculcating Social Values and Responsible Entrepreneurship in Latin America

“…This requires the effort of all the agents involved, betting on sustainability as an opportunity for the development of business initiatives operating in this area [11,37]. These initiatives reflect the philosophy underlying responsible entrepreneurship defined and integrated in the environmental, sociocultural, and economic dimensions.…”

“…B Corporations or B Corps are accelerating a global cultural shift to redefine business success and build a more inclusive and sustainable economy [39,74,75]. The B Corp certification not only evaluates a product or service, but also the positive impact that these companies generate to the society where their goods and services are destined, and this is what matters most to people [11]. position.…”

“…A palpable example is the change being experienced in the field of tourism, which will have to reinvent itself, lay the foundations on another approach to the customer that not only includes a clear commitment to digital, but also a reordering of messages and value propositions that are aligned to this type of situation. In this sense, entrepreneurs have changed their perception of the activity to which they allocate their goods and services [11][12][13].…”

PYMES en América Latina: clasificación, productividad laboral, retos y perspectivas.

“…El OEDE ha logrado sistematizar la información disponible desde 1996 a la fecha, organizándola por tamaño de empresa, tramo de empleo, tipo jurídico de la empresa, antigüedad de la empresa, sector, rama de actividad, entre otras. Es un esfuerzo de agrupación y concentración loable que debería ser replicado en el resto de países latinoamericanos (González-Díaz & Becerra-Perez, 2021).…”

Intrinsic alignment with strategy as a source of business sustainability in SMEs

“…Therefore, this study aims to analyze the process of intrinsic alignment with the strategy as a source of business sustainability in the SMEs of the Tacna-Peru Region, which allows generating an analysis, reflection and at the same time a starting point to deepen it, enriched with new factors, by the new challenges of globalization (González-Díaz & Becerra-Perez, 2021). For the analysis, the map of processes has been taken as a structure, which counts every organization, whether public or private, through a Newtonian relationship and through its three main blocks: the strategic, operative and support processes (Herrera & Gómez, 2012, Vimal, Kandasamy, & Duque, 2021.…”