The purpose of this paper was to assess the relationship between businessconstraints and potential growth of SMEs in Tanzania. This paper concludes that inadequate business training, insufficient capital and anti- entrepreneurial culture are critical constraints hampering the potential growth of SMEs in Tanzania. The implication of these findings is that serious measures should be taken by policy makers and other business practitioners in order to address the constraints by prioritizing the available resources for the sake of alleviating these critical constraints. In the case of inadequate business training, strategic training programmes need to be designed and implemented in order to equip SMEs with adequate entrepreneurial knowledge and skills. As the matter of facts, training gives confidence and new way of thinking and doing things. Through training, some businessconstraints automatically can be addressed. For instance, anti-entrepreneurial culture, fear of competition, technological backwardness, corruption, poor access to credits and others exist because SMEs lack adequate business training. Felix and Ezenwakwelu (2014) recommend that there is need for the Nigerian government to set up workshops where young and old entrepreneurs will acquire new skills needed for their businesses. In the case of anti-entrepreneurial culture, there is a need of re-engineering training programmes by addressing unfavourouble cultures which tend to hinder the potential growth of SMEs. For instance, fear of SMEs to get loan from financial institutions, lack of trust by employees and others are associated with cultural values, norms, beliefs and attitudes which need to be addressed correctly if entrepreneurial culture is viewed as an important factor fueling potential growth of SMEs. In the case of insufficient capital, we recommend that training programmes should put emphasis to SMEs on the use of multiple sources of financing businesses as of now the majority of SMEs use personal saving as the major source of financing their businesses (Majenga, 2013; Tundui and Tundui; Tundui, 2012).
The businessconstraints under examination are expected to limit investment upgrading and therefore limit firms’ growth potential and performance in several ways, as indicated in Fig- ure 2. When MSEs have limited access to relatively differentiated markets, they are forced to operate in low-income market segments. This limits their levels of sales and profits since most of them compete for the same customers (Sengendo et al. 2001). Low sales and profit may discourage firms’ future investments and therefore their growth. Moreover, the major- ity of MSEs, particularly those involved in manufacturing, have limited access to external fi- nancing. As a result, they depend mainly on their internal resources to finance investment (Ishengoma 2005; Reinikka and Svensson 2001; Arimah 2001; Muguma and Obwona 2001). Thus, low profit may imply limited internal resources, which may in turn limit firms’ ca- pacities to upgrade their investments.
Surveys of perceptions invariably create certain methodological problems that can lead to biases in the results. It is therefore important to interpret results from this type of data with care, and to be aware of and check for potential biases wherever possible. Conducting a survey of this kind is a fairly resource-intensive approach, and often entails a limited set of observations due to resource constraints. For our sample, this is evident in the distribution of observations across sectors. It can also be a problem in other classifications of the data, commanding some caution in the interpretation of results. The population of businesses from which our sample was selected is also more limited than would be ideal. The population includes only existing firms registered with the departments of trade, which implies that existing unregistered firms, entrepreneurs who were prevented from starting a firm, or firms that have closed down, are included neither in the population nor in the sample. As the firms that were never started, or the ones that closed up shop, are likely to have highly relevant information on businessconstraints, this is unfortunate, but fairly unavoidable in these types of studies.
Although security architecture design usually follows well- known security principles, it is still performed in an ad-hoc manner. In this paper, we present an automated framework, ConfigSynth, for synthesizing correct and cost-effective net- work security configurations. It formally models the network topology, security requirements in terms of isolation, and the organizational businessconstraints in terms of usability and deployment cost, along with different invariant and user- defined constraints. Then, the framework formalizes the se- curity design synthesis problem as the conjunction of all the requirements and constraints. Finally, it solves the problem us- ing an efficient SMT solver that results in an optimal network security design along with optimal placements of security devices. We have evaluated ConfigSynth tool in different test networks by varying the problem size and the number of constraints. We find that ConfigSynth generates an optimal security design within 800 seconds for a problem with 500 hosts. In the future, we would like to extend our model in order to incorporate the host and application level isolation patterns along with various design constraints.
Note: From the survey, businessconstraints were rated on a scale from 1 to 4, where 1 implies no constraint and 4 implies a major obstacle. These include inflation, financing, infrastructure, tax/regulation, policy instability constraints, as well as quality of courts, protection of property rights, copyright violations and constraints to exercise ‘voice’ of the firm. Bribery is expressed as percentage of revenues. Although not reported in table, fixed country effects were used to account for differences across individual countries. World averages were used for some variables in those countries that were entirely missing observations for that specific variable, in order to maximize the efficiency of estimators without affecting their lack of bias. Finally, all firm characteristics are defined as a binary choice.
Internationally, the G20 nations are calling on countries to cooperate to develop global solutions, update tax laws, increase transparency and information sharing, curb inter- national tax evasion, and level the playing field between countries . The OECD’s Action Plan is an ambitious under- taking that will provide the G20 nations with important background, analysis and recommendations on the way to effectively achieving their objectives . Canada and Canadian taxpayers need to actively participate in the OECD’s work to ensure that Canada’s competitive position and practical businessconstraints are considered as solutions and recom- mendations are debated and developed . 9 The final recommen-
It is the integrated schema to represent the participating data sources with a specific business objective(s), it also called the mediated schema between the users and the data sources. GS either contains the integrated data from the sources (Materialized Integration) or it is only schema and the data are residing at the sources and queried through GS (Virtual Integration). Choosing Materialized or Virtual data integration is tradeoff, and it depends mainly on the objective of the integration process, when the main interest is the performance of the query answering process, then
This paper studies the effect of financing constraints on R&D activity over the boom-bust cycle in Central and Eastern Europe (CEE). The CEE countries have received less attention in the literature of R&D financing, have less developed financial and venture capital markets (Brown et al. (2011)), and have provided a textbook example of a boom-bust episode over the last ten years. This paper will contribute to the literature by providing comparative firm-level empirical evidence on the effect of credit constraints for R&D over the business cycle and by introducing an empirical methodolo- gy that enables to disentangle the direct effect of firm characteristics on R&D and the indirect effect from credit constraints. Although financing constraints play a key role in the cyclicality of R&D (Aghion et al. (2010)), the cyclicality of financing constraints for R&D has received very little attention in the empirical literature. There is only evidence on SMEs that the financing gap between non-innovative and innovative firms diminished during and after the Great Recession (Lee et al. (2015)).
Data centre infrastructure is also evolving as technology advances. The operational criticality of the equipment housed in the data centre and the significant capital investment it represents, means that data centres typically require ongoing investment at regular intervals to maintain state-of-the-art protection for these vital corporate resources. An important consideration for companies to make is in whether they will continue to invest capital in upgrades as and when needed. Data centres can occupy a considerable amount of space within an organisation’s building. Whether the building is leased or owned, this space can often be used for a number of alternate purposes in the business and should be evaluated in this context. Regardless of its size, the space used by an in-house data centre becomes highly specialised and unsuitable for other uses. This specialised use can often limit an organisation’s ability to easily and inexpensively reconfigure its entire tenancy to suit future corporate real estate operational, design and growth requirements. When an organisation’s space requirements change, this specialised space may not be easily altered to cater for changing demands and uses. Although potentially intangible, this is certainly
In this section of the paper, we set out the implications for charities, for business corporations and for other bod- ies including public policy-makers. Turning first to chari- ties, we have noted the growing disconnection between the concept of charity as applied in law and the public perception of what it is to be a charitable organisation on the one hand (Synge 2015; dal Pont 2014; Harding 2014; Parachin 2014), and associated lowering public trust in these organisations on the other hand (Radojev 2016a, b; Smith 2015; Charity Communications 2014). We have observed that while notions that charities are essentially of good moral standing shape public expectations of these organisations, being granted charitable status in law is not dependent upon a display of virtue (dal Pont 2014; O’Halloran 2011). Instead, protecting the ‘objects’ which these organisations hold in trust, while ensuring they are delivered in ways that fulfil the public benefit test, is what charity law requires (Dekker and Harding 2014; Garton 2014). We highlighted a number of issues, such as failure to pay the minimum wage (Weakley 2015b) and the use of zero-hours contracts (Bloomfield 2013), which do not sit well with the perception that charities are the conscience of society (House of Lords 2017). These seemingly unwor- thy behaviours have been roundly criticised by the media, members of the public, and others. Our analysis has dem- onstrated, however, that there may be circumstances in which trustees take decisions that seem unconscionable (e.g. to make staff redundant or to offer generous exit pack- ages), because not to do so may jeopardise the fulfilment of the objects.
The discussion leads to conclude that the normal practice of placing collateral of the dominant society cannot be readily applicable to the indigenous context. Chakma women have constraints of placing collateral to secure bank loans for their promising businesses of handloom products whilst the obstacles are not associated with the inadequate level of property, but with the lack of conventional documents of the property. The issue of lack of documentation is deeply rooted into the historical, cultural and social aspects of indigenous society and hence, these features challenge the fundamental assumption of document possession regarding collateral for business loans. Further, the implications of such practices in the indigenous society are important to consider. Asking for the property documents might be perceived in a negative manner by the indigenous people particularly given the political conflicts with the people of dominant society. Besides, a conflicting scenario can be inferred from here as banks tend to impose the legal framework of the dominant society on the concerned indigenous people. It contributes to the prevailing knowledge concerning the discrimination of banks towards indigenous people based on their distinct way of living.
Two notions square measure within the attentiveness of those developments, BPR and progress Management. This new developed interest in business processes and their design and informatization is proof that this can be on the one hand a distinct segment that has been neglected within the past, and on the opposite a vital space which may considerably improve performance and aggressiveness of a corporation to produce a specified output for a particular customer or market”. Riemer (1998) describes business processes in an object-oriented style: “business processes are series of steps that change states of business objects (that is, customers, orders and inventory), thereby causing business events”. However, majorly it is concerned with customer-orientation. Thus, the outputs of business processes should not only achieve the company’s objectives, but also need to satisfy customers’ requirements. From these definitions business processes can be said to start and end with customers and the value of business processes is dependent upon customers.
The table below shows the Real GDP of different world economies from 2004 to 2009 9 . Albania in comparison with the developed economies has had higher levels of this macroeconomic indicator and in a growing trend, but in lower figures compared to the other emerging markets and developing economies. However, based on these statistics, it should be highlighted the positive real GDP during 2009. The economic growth of 3% lists Albania among the countries which were not greatly affected by the global crisis of the end of 2008. This can be explained by a variety of reasons but the small proportion of the Albanian economy in the global arena certainly played a role in such results. Albania has experienced expansion but in accordance with its country dimensions and performance could be pictured better in the canvas of the Balkan region. Another fact that deserves attention is the entrepreneurial spirit of the Albanians. The Albanian people undertake risks. Past struggles have not weakened them, quite the opposite, Albanians do not get discouraged easily by bankruptcy and they have strong initiatives to invest in new business fields.
Human capital endowments are important not only in establishing a business but also in hiring other workers. These endowments take shape as entrepreneurial abilities to perceive and exploit business growth opportunities. These abilities can be influenced by many forms of human capital: education (Casson 1995), work experience (Shane 2003, p. 75) and knowledge of the market (Jovanovic 1982). Thus, entrepreneurs with higher endowments of human capital are expected to employ larger workforces (Lucas 1978; Brock and Evans 1986; Cowling et al. 2004). When concentrating on the role of liquidity constraints, one possible impediment for entrepreneurs before deciding to opt for growth is simply the lack of capital. If entrepreneurs cannot borrow to attain their profit-maximizing levels of capital, then those entrepreneurs who have substantial personal financial resources will be more successful than those who do not (Holtz-Eakin et al. 1994).
These governance mechanisms to an extent confirm an important case of British 'personal capitalism'.29 However they are also suggestive of a gap in existing interpretations of Lancashire entrepreneurship. In particular, their encapsulation of separate roles for entrepreneurs and managers raises the crucial question of the extent to which these individuals contributed to the decline of the industry, for example their inability to invest in new technology.30 Sandberg argued that decision makers responded rationally to profit signals31 and loyalty to the mule was justified by its apparent superiority on counts above 40s.32 In response, Lazonick argued that entrepreneurship was too narrowly defined, allowing cotton managers to be adjudged successful by reference to their ability to produce a rational or optimal solution given certain constraints. Had entrepreneurs been defined in the Schumpeterian sense, they would have been judged by their ability to remove constraints, for example by vertically integrating as a precursor to introducing ring spinning.33 As it was, 'vertical specialisation ... constrained the adoption of modern capital intensive technologies in the ... two decades or so prior to World War I'.34 Those feeling the constraints the most closely were managers and production technologists, especially those working in the 1920S and 1930s, and their views were quoted extensively by Lazonick as evidence of barriers to such capital intensive production imposed by vertical specialisation.35 But these individuals were excluded from decisions on industry organisation by the governance structure described above. The power to restructure the industry and to invest in new technology rested with entrepreneurs; the individual and financial capitalists whose adeptness lay in mobilising financial resources and mill flota- tion. Any constraint on adoption of more capital intensive production lay in the ownership of capital rather than industry structure ex ante. Despite attempts to shift the focus to industrial organisation, entrepreneurial attitudes towards technology remain a highly relevant theme and are explored further through case studies of individual com- panies in the next section.
In this chapter, we study service exceptions in the context of modeling and analyzing (business) service engagements. Service engagements inherently involve the interaction of autonomous parties and are naturally specified at a high level in terms of contracts. Contracts can help formalize business processes through which service engagements are realized. They describe the expectations that each participant may have of the others and offer the potential of legal recourse should those expectations not be met. Thus service engagements are almost always specified via a contract, although the contrast involved demonstrate a wide range of complexity. Because of the importance of service engagements and contracts to the world economy, they are increasingly being studied in computer science [80, 66]. Existing approaches are top- down in that they each propose a model for services and contracts and establish its technical properties. They use such properties to determine how to manage the life cycle of a contract. In contrast, we adopt a bottom-up approach wherein we examine existing real-life contracts to understand what knowledge and structure we can induce from them. In this sense, our approach is complementary to the above types of approaches. Analysis such as the one we perform can yield part of the knowledge needed by the more traditional approaches.
Unit 1, The Organisation in a sea of influences. This Unit provides a broad introduction to the course. It explores the meaning of ‘environment’ and the emergence of environmentalism over the past 40 years as an issue of broad public concern. In this context, the emergence of the concept of ‘sustainability’ is discussed. We also explore the complex nature of sustainability problems and why these are particularly challenging to address. The Unit includes an overview of current and emerging trends associated with environmentalism and sustainability that have relevance for business and industry.
Micro, Small and Medium Enterprises (MSME) play an important role in the development of a country. They are the backbone of all economies and are the key source of economic growth. They are estimated to account for over 70% of the private-sector employment and income. They also contribute significantly to Gross Domestic Product (Seepersaud, 2012). These small businesses are the ground for entrepreneurship, innovation, inventions, job creations, etc. The Belize Trade and Investment Development (BELTRAIDE) Service is the official Trade and Investment promotion agency of the country of Belize. BELTRAIDE has a branch called Small Business Development Center (SBDC). SBDC has taken several initiatives to improve MSMEs providing need- based services with the goal of transforming them into successful businesses in the industry. However, despite the role of MSMEs and the initiative taken, they continue to face challenges (financial, taxation, competitiveness) that have a negative impact on their development and limits their potential to contribute to the national economy as expected. The purpose of this study was to determine the challenges and constraints faced by micro and small businesses in the capital city of Belmopan and suggest ways to promote the business growth and survival in the market.
Informal sector plays a crucial role in urban poverty alleviation through creating jobs and reducing unemployment. As literature shows there are a number of reasons that drives the informal economy participants to enter to the informal sector and also there are a number of constraints that faces the informal economy participants when engaged in this sector. The main purpose of this study is to assess the cause, constraint and transition intention of urban informal economy participants in case of Gurage zone Wolkite and Butajira towns. Hence, descriptive research design with cross sectional survey was considered. Among the identified reasons by the respondent are “lack of enough capital to enter to formal sector,” “tight and unfair tax administration and regulations in the formal sector”, and “high unemployment “are the critical cause that enforce the urban informal economy participants to be informal. The major constraints that face the urban informal economy participants during operating their business on informal sectors are lack of social protection and labor legislation at the workplace and inadequate regulatory policies and regulations to address unique informal sector problems are highly ranked constraints that face on the participants of urban informal economy in Gurage zone Wolkite and Butajira towns. Based on the finding of the study the researchers recommend that, even if many firms may not be formalizing because of their own strategic reasons, the government shall make simplicity of business registration or licensing cost, equity in the tax system and providing tax-holidays for sometimes, increases the benefits of legal registration like more favorable credit terms and confidence in the taxing administration to enhance the environment for businesses to operate formally.