• The Journal of Asian Finance, Economics and Business
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• 제8권5호
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• pp.851-861
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• 2021

This study aims to explore the specific risks in family small-medium enterprises (SMEs) and explain how they manage these risks to sustain and expand. In Indonesia, family business composes around 95 percent of all businesses and contributes about 80 percent to the country's economy. SMEs contribute approximately 57.8 percent to the nation's gross domestic product. Risk management poses challenges to the family business's survival, as family members do not take actions on risk. The assessment of risk is difficult and family businesses lack the ability to determine risk management priorities, including risk management review processes to evaluate risk, thus leading to family business failures. Applying the case study approach, in-depth semi-structured interviews were conducted in seven family SMEs comprising fifteen informants. Additionally, a focus group discussion consisting of three experts is conducted to reaffirm the findings from the interviews, observations, and field notes. The research identified the specific risks and how the family owners strategize to safeguard against these risks such as cash flow deficiency, operations dysfunction, cultural frailty, disharmony, transgenerational entrepreneurship failure, political uncertainty, and unprofessionalism. Comprehending these risks and their strategic decisions elucidated in this research could enable the family owners and key non-family professionals to work hand-in-hand to thrive over the family business risks together. Further avenues of research regarding family business risk management are also suggested in this study.

• The Journal of Asian Finance, Economics and Business
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• 제7권1호
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• pp.153-158
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• 2020

The study aims to identify the factors affecting employee loyalty in the case of small and medium enterprises (SMEs) in Tra Vinh province, Viet Nam and to find out critical factors affecting the loyalty of employees in SMEs. This is implemented with the method of collecting primary data of 320 employees working at SMEs in 5 districts including: Cau Ngang, Tra Cu, Chau Thanh, Cang Long, Tieu Can) and Tra Vinh City, Viet Nam. Using the multivariate regression method, the researchers have found 6 factors affecting employee loyalty: colleagues, leaders, job characteristics, remuneration policies, organizational culture, and working environment. Particularly, learning opportunities may not be not statistically significant for employees' loyalty towards small and medium-sized enterprises in Tra Vinh province. From the above research results, the authors have proposed implicational piolicies such as: focusing on colleague relationships, improving leadership of business owners, attaching importance to appropriate work arrangement, having appropriate remuneration policies for laborers, building effective organizational culture and working environment to improve employee loyalty at SMEs. From the above policy implications, helping business owners realize the aspirations of workers in small and medium-sized enterprises more closely in the future, in order to sustainably develop the business system in Vietnam.

• Asian Journal of Business Environment
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• 제3권2호
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• pp.23-29
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• 2013

Purpose - The study investigates the obstacles faced by small business owners (SBOs) in accessing finance in the Buffalo City Metropolitan Municipality. The study aims to identify the causes of inaccessibility to finance for SBOs, investigate the role of government agencies in supporting SBOs, assess the extent to which banks support SMMEs, and suggest solutions to ease the challenge of inaccessibility of finance. Research design, data, methodology -We used a triangulation research design, wherein SMME owners and managers in the Buffalo City Metropolitan Municipality were the target population. We used simple random sampling techniques to select respondents, and conducted in-depth interviews to collect qualitative data. Results - We analyzed quantitative data using descriptive statistics, Chi-square tests, and factor analysis. The qualitative data was analyzed using content analysis. The study identifies and discusses the obstacles in accessing finance; the main among which are the lack of collateral security, poor business plans, lack of knowledge, and lack of financial deposit. Conclusions -We urge the banks, government, and government agencies to support the SMME sector, for it remains the economic engine of many African countries and helps in reducing the impact of socio-economic challenges, like unemployment and poverty.

• 한국실내디자인학회논문집
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• 제22권2호
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• pp.131-139
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• 2013

The purpose of this study is to propose a new direction for color schemes of city signages to provide psychological stability to business owners and improve business value. Types of city sign color schemes and Feng Shui awareness of business owners were examined. Color schemes for signs were proposed, reflecting city landscape colors, color perception theory, and the Feng Shui Sangsaeng Sanggeuk theory. Results of the study can be summarized as follows. First, in order to secure colorscape quality of existing city buildings, signs should be small and consist of only three or fewer colors. Second, existing signage colors and the Feng Shui ideas of business owners have something in common with the five traditional cardinal colors. Thus, it can be interpreted that Feng Shui ideas are deeply rooted in the color use awareness of the Korean people. Third, background colors of signages can reflect the idea of innate Sangsaeng according to the Bonmyeonggung of business owners. The concept of acquired Sanggeuk can also be applied to other design elements such as characters. Fourth, as a second choice according to the function of sign, city landscape or preference of business owner, etc., the background color can remain a color of Sangsaeng, while other design elements such as characters can use a color scheme corresponding to Bihwasaek. Fifth, signs can create a statement and stand out using lightness contrast or saturation contrast theories. A variety of sign color schemes are also possible just by altering the lightness and saturation levels.

• 한국의류학회지
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• 제46권5호
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• pp.805-826
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• 2022

This study explored the process by which consumers purchase products from small fashion business owners via online and mobile channels. In addition, group types were classified given that the purchasing process depends on the consumers' life cycle. The consumer focus group interview (FGI) was conducted on 18 participants that were divided into six groups by age, work, and children. Results revealed that first, consumer journey comprised four stages. Factors influencing need recognition were "attention to information of social media influencer," "attention to information of affiliated groups," and "repeated advertising of SME products/brands." For information searching, "exploring purchase reviews," "environment for mobile shopping information exploration," and "continuous product tracking" were important factors. Purchasing and shopping stages were affected by "price-free, improvised purchase decision" and "convenient mobile payment system and point benefits." After the purchase, "active sharing and repeated purchase when satisfied" and "blocking relationships when dissatisfied" occurred. Second, six consumer groups based on the fashion life cycle are the "Platform lover," "Influencer follower," "Trust builder," "Novelty seeker," "Convenience seeker," and "New designer supporter." Ultimately, small business owners can develop the process of planning and selling fashion products more efficiently.

• International Journal of Internet, Broadcasting and Communication
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• 제10권4호
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• pp.19-24
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• 2018

Recently, people can create small content by themselves and it improved into a form that can be promoted. Also, as active small business owners increase, they produce the content for promotion by themselves without external professional help and they utilize it. This paper studies the method to make Mobile Apps, Mobile Web and homepage services available by automatically generating the mobile based mini content. The automated content creation system suggests the method that small business owners and groups can easily communicate with new people by bringing Single Page Application, hybrid mobile web app, N-Screen based content building, private cloud-based PaaS building technology, P2P network based file sharing and multimedia thread technologies together and creating the content.

• 산경연구논집
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• 제11권5호
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• pp.35-44
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• 2020

Purpose: The purpose of this study is to present a plan to expand the employment of the elderly in Small business as one of the ways to solve the problem of the supply and demand of the company due to the aging population and the problem of the elderly poverty. Research design, data and methodology: The method of this study is a qualitative research method, and the researcher visited a small and medium-sized company directly and collected data by conducting an in-depth interview with a business owner. The interview period was conducted on a total of 15 business owners from November 5, 2013 to November 18, 2013. Results: First, the reason why companies hire the elderly is because they are suitable people, and the reason why they are not employed is because the elderly are not suitable. Second, it was found that the most recruiting paths continued to work after retirement. Third, the strengths of the elderly in their businesses were diligence, integrity, leadership, wisdom, warmth, and skill. Disadvantages the elderly in their businesses include wanting to be treated as an adult, poor productivity, poor accuracy, and health risks. Fourth, in case of hiring the elderly, they were considering convergence with young employees, and it was suggested that there are no difficulties in being an elderly because the companies hiring the elderly use the elderly according to the characteristics of the elderly. Fifth, It is realistic to actively utilize the employment system after retirement. Sixth, it was found that, unlike young people, it is not easy to recruit people on the Internet, so it is necessary to improve the system. Lastly, some industries clearly distinguished between the jobs of the elderly and the jobs of the young, but in many industries, it was desirable to create jobs for the elderly by harmonizing the main and secondary jobs. Conclusion: Ultimately, the work of the elderly in small and medium-sized enterprises should be reborn as a high-quality job that can solve the poverty of the elderly by working as a regular worker in the enterprise, rather than simply working for the elderly.

• 유통과학연구
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• 제21권12호
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• pp.127-140
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• 2023

Purpose: In a situation where the local economy and alley economy are stagnant, efforts to revitalize the role of small business owners need a virtuous cycle system through consumers' consumption power, not just cash support. Research design, data, and methodology: The study site focuses on Daedeok-gu, the first to introduce local currency as a policy. In the case of the store survey, 254 stores out of 300 stores registered with local currency were analyzed, and the consumer survey was conducted on 1,394 out of 1,500 local people using local currency. Statistical analysis was performed using the SPSS. Result: As a result of time-series checking whether local economic activities are carried out smoothly due to the nature of the local currency, the average daily sales of Daedeok-gu increased by 388,980won compared to 2019. This proved through empirical research in the region that local currency played a priming role in bringing opportunities and rehabilitation to the local commercial districts and small business owners. Conclusions: In the monetary function of simply buying and selling value through payment, points supported as incentives can be used as local currency while inducing direct participation in solving social problems, and the concurrent effect of causing problem-solving and regional economic vitality began to sprout.

• The Journal of Asian Finance, Economics and Business
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• 제7권10호
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• pp.211-218
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• 2020

The Small and Medium Enterprise is currently getting more attention from the Indonesian government as the contribution of this sector to the regional and national income has increased. Though the government is providing a lot of attention as well as facilities to the small businesses in the manufacturing sector, they face intense competition. Thus, the small enterprises need to ensure that they achieve good business performance. This research aims to investigate the role of entrepreneurial intensity and innovation in improving the performance of small businesses in Indonesia. For this purpose, one hundred and eighty-six small business owners participated in the survey. The data was analyzed using Structural Equation Modelling. The hypothesis results show that entrepreneurial intensity and innovation have a proven role in business performance of small enterprises. Entrepreneurial intensity in particular, significantly impacts innovation and exploration. And innovation is crucial for business performance. The results imply that to increase business performance, the owner and the manager also need to raise their entrepreneurial spirit, as it can enhance their willingness to explore and use their business experience to do more innovation activities. The more innovation is done by the company; the business performance is more likely to improve.

• 대한가정학회지
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• 제41권10호
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• pp.199-209
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• 2003

The purpose of this study was to investigate the causes of bankruptcy in small apparel stores. Data were collected from 153 apparel retail store owners who experienced failure in small apparel stores in Busan. The results showed as follows; The internal factors that caused bankruptcy in small apparel stores were the problems related with employees, capital, investment, weak marketing strategies, inadequate management, and characteristics of store owners. The external factors were economic condition, unexpected incidents, and the condition of market. There were significant differences in the perception of factors which caused the store bankruptcy according to prior business experience before opening apparel stores, the level of education, and the period between store opening and closing.