Using Tools From Strategic Management To Help Micro-Entrepreneurs In Developing Countries Adapt To A Dynamic And Changing Business Environment

Gosenpud, Jerry; Vanevenhoven, Jeff

doi:10.19030/jabr.v27i5.5588

Cited by 5 publications

(3 citation statements)

References 42 publications

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“…F i n a n c i a l t e c h n o l o g y i s r e q u i r e d n ot o n l y for the growth of micro, small and medium enterprises but also for the growth of the Indian economy. Also, high technological skills provide strategic advantages to businesses [17]. As per NSSO, 8 Indian medium and large enterprises are embracing financial technology in significant ways, even ahead of their Western counterparts, especially when it comes to mobile technology.…”

Section: Msme Strategies To Adopt Fintechmentioning

confidence: 99%

Financial Technology Adoption – A Case of Indian MSMEs

Gupta¹,

Agarwal²,

Nautiyal

2022

jour

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Micro, small, and medium enterprises (MSME) are the backbone of every economy. Financial inclusion of MSMEs is essential for any country aspiring to economic development. Innovative solutions offered by fintech companies can support the financial inclusion of MSMEs. Digital payments, alternative loans, insurance, investments, regulatory, and robo-advisory services are just a few of the services that fintech companies provide to MSMEs. The purpose of this studyis to examine the role of financial technology on registered micro, small, and medium enterprises in India. The objective of the study is to reveal the behaviour of MSMEs towards financial technology acceptance and show how various demographic variables of owners/managers influence the acceptance of financial technology in the case of MSMEs. The methodological basis of the study is a management survey of 117 MSMEs in India. The questionnaire had 25 questions; measurement items used in the questionnaire were derived from previous studies carried out in developing countries. The results were processed and tested for significance using modern econometric methods such as the Kruskal-Wallis H test, and the Mann-Whitney U test. The result of the study indicates that the financial technology acceptance rate among the MSME sector is high as maximum MSMEs consider themselves moderate financial technology adopters. MSMEs have a high understanding of different financial services provided by fintech companies. Prior Experience of the owner/manager, brand familiarity, government support, and behavioural variables such as perceived ease of use, perceived usefulness, trust, and satisfaction was proved to be effective while adopting financial technology services whereas, demographic variables such as gender, age, education level of owner/manager was found to be ineffective. The study concludes that fintech companies are providing quality services by acting as a single window, supporting the financial needs of MSMEs at low interest rates, simplified processes and lower transaction costs. MSMEs are using fintech products and services as a key part of their financial management, with increasing adoption there is a growing opportunity for fintech companies, incumbents, and non-financial organisations. The result of the study contributes to the novel understanding of the acceptance and preference of the MSME sector towards financial technology.

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Section: Msme Strategies To Adopt Fintechmentioning

confidence: 99%

Financial Technology Adoption – A Case of Indian MSMEs

Gupta¹,

Agarwal²,

Nautiyal

2022

jour

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“…The support to these enterprises from the government is in various forms. It may be in the form of loans, marketing (Carmona-Lavado et al, 2020) support, technology upgradation, import export support, skilled manpower, strategic support (Gosenpud & Vanevenhoven, 2011) etc. Past research papers have studied this impact and access (Bewaji et al, 2015) of various schemes offered by governments all over the world to MSMEs.…”

Section: Review Of Literaturementioning

confidence: 99%

Financing Micro and Small Enterprises: Assessing the Impact of Mudra Loans in an Emerging Economy

2021

IJFB

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This paper studies the impact of mudra on small and micro enterprises in terms of income generation, business expansion, standard of living, and employment generation in the process. The research is socio-economic research. The project applied mean difference method for quantitative data analysis and relative importance index method to analyse qualitative data. Paper used Schedule to conduct personal interviews to collect data from 384 respondents using convenience sampling. It was found that to some extent, the schemes have been successful in providing loans to MSME sector. The enterprises are benefitted due to collateral free mudra loan in terms of income generation and business expansion. But there was no significant impact on employment generation and standard of living as proved from the data collected from the respondents due to mudra loan. Also, no significant improvement in human development index was found among the respondents. No significant improvements in quality of food and nutrition were found as informed by the respondents. Financial independence has not been achieved for the women entrepreneurs. Policy implications for government and bank has been discussed at the end of paper. The paper is based on the project funded by Indian Council of Social Science Research, New Delhi. This is a first kind of study conducted to study the impact of mudra loans on small and micro enterprises in India.

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“…According to Gosenpud and Vanevenhoven (2011), microenterprises in developing countries must do four things to better understand their changing environments: 1) perform an external environment analysis, 2) perform an internal environmental analysis, 3) plan, and 4) network. Although this approach was tailored for developing countries, it could also be useful in developed countries.…”

Section: Rural Microenterprises and Digitalizationmentioning

confidence: 99%

Adoption of digital innovations in rural enterprises during COVID-19

Räisänen¹,

Tuovinen²

2021

The Rural Enterprise Economy

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The COVID-19 pandemic has rapidly affected the operating conditions of companies. Traditional customers and operational models are changing radically in the short term. Digitalization and digital methods provide an opportunity to reorganize working methods and create a new kind of business to replace old methods and business models. Compared to urban businesses, rural businesses have less experience with digital tools and are less likely to adopt digital innovations; this makes rural businesses especially vulnerable. The purpose of this study was to provide insight into how microenterprises and small and medium-sized enterprises in rural areas have addressed the COVID-19 pandemic, the digital solutions they have adopted, and the kinds of challenges they have faced. This study particularly emphasized microenterprises and was based on survey data collected in Finland in the spring of 2020.

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Using Tools From Strategic Management To Help Micro-Entrepreneurs In Developing Countries Adapt To A Dynamic And Changing Business Environment

Cited by 5 publications

References 42 publications

Financial Technology Adoption – A Case of Indian MSMEs

Financial Technology Adoption – A Case of Indian MSMEs

Financing Micro and Small Enterprises: Assessing the Impact of Mudra Loans in an Emerging Economy

Adoption of digital innovations in rural enterprises during COVID-19

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