Journal of Economics, Innovative Management and Entrepreneurship

Innovation and Transformation: Keys to the Success of SMEs in the Digital Age

2024-07-04T05:39:28-05:00

This article examines the strategic importance of Small and Medium Enterprises (SMEs) in the global economy, emphasizing their agility and innovation alongside the challenges they encounter in adopting new technologies. SMEs, constituting 90-95% of all global enterprises and responsible for 60% of employment, contribute to GDP, economic diversification, and community development. The study reviews a broad spectrum of literature to highlight the role of emerging technologies in enhancing operational efficiency and decision-making within SMEs while recognizing significant obstacles such as financial and human resource limitations and increased cybersecurity risks. Using a mixed-methods approach, this research assesses the impact of technological advancements on a diverse range of SMEs, ensuring generalizability and reinforcing the study’s validity and reliability. It identifies a gap in empirical knowledge on technology integration and offers insights into the dual opportunities and challenges digital tools present. The findings suggest that while SMEs greatly benefit from technological progress, adequate policy support is crucial for overcoming implementation hurdles, guiding strategic technology investments, and fostering economic sustainability and competitiveness in the digital era.

Cotton in the Indo-Pacific: Historical Origins, Linguistic Diffusion, and Socioeconomic Impacts

2024-07-02T10:25:13-05:00

This study investigates the historical origins, linguistic diffusion, and socioeconomic impacts of cotton (Gossypium spp.) in the Indo-Pacific region. By reviewing secondary data from historical texts, linguistic databases, and archaeological reports, the research explores how Gossypium species, domesticated in both the Old and New Worlds, spread through complex trade networks and cultural exchanges. The study analyzes the dissemination patterns of cotton-related terminology across various language families and examines the socioeconomic effects of cotton cultivation and trade, including its influence on labor systems, economic structures, and cultural practices. While the findings highlight cotton’s significant role in shaping global markets and cultural inter-actions, the study’s limitations – such as its reliance on secondary sources, a two-month research duration, and a focus on a specific geographical area – warrant cautious interpretation. These constraints may limit the comprehensiveness and depth of the analysis, suggesting the need for future research to incorporate primary data collection, a broader geographical scope, and an extended study period. Despite these limitations, the study contributes to a nuanced understanding of cotton’s historical, economic, and cultural significance, emphasizing the need for sustainable agricultural practices in contemporary cotton production.

Impact of Development Bank’s Credit Financing on Small and Medium-Scale Enterprises Performance

2024-06-18T09:57:13-05:00

This study examined the impact of Development Bank Credit Financing (DBCF) on the performance of small and medium enterprises, employment generation growth, financial asset growth and profit growth in Nigeria. A survey research design was employed; 398 SMEs were randomly selected from the beneficiaries of DBCF loans. Descriptive analysis was conducted, and binary logistic regression was employed to examine the impact of DBFC on SMEs. The result showed that the DBCF Amount of Credit Loan Received (ACLR) positively impacted the growth of SMEs, given their beta coefficients of 0.510 and 0.765, respectively. Their respective p-values and Wald statistics of 0.001, 0.001 and 14.050, 13.486 show their significance level. However, it was discovered that there is no significant impact of DBCF on the profit growth of SMEs in Nigeria. The average monthly tax payment (AVMTL) made by the micro, small and medium enterprises (MSMEs) was established to negatively impact on SMEs profit. The coefficient (β) = - 1.004 (100.4%) showed that a unit change in the AVMTL while holding other variables constant led to about 1.004 unit decline in the logit, SMEs profit. Specifically, it means MSMEs profit will decrease by the exact amount of what is paid as tax.

Assessing the Mediating Role of Life Satisfaction in the Nexus Between Financial Behavior and Financial Well-being

2024-07-29T10:14:38-05:00

This quantitative non-experimental correlational study mainly aim to investigate the mediating effect of life satisfaction in the relationship between financial behavior and financial well-being of college students in the Davao Region. The data were collected online through Google Forms using adopted instruments. The respondents were chosen through stratified random selection. The measuring model underwent validity and reliability tests. Descriptive statistics were utilized to define the constructs in the study. The hypothesized mediation model was assessed by mediation analysis utilizing the standard algorithm bootstrapping of SmartPLS 4.0. Further, the study was anchored to the Theory of Planned Behavior, Life Satisfaction Theory, and the Behavioral Life-Cycle Hypothesis. The results indicated that the variables of the research satisfy both validity and reliability tests. The findings revealed that the students have moderate levels of life satisfaction and financial well-being while they demonstrate high levels of financial behavior.

Financial Inclusion, Poverty Reduction, and Economic Growth in Nigeria: An Empirical Study Using SVAR Approach (1980-2020)

2024-07-05T04:32:25-05:00

This study examines the empirical analysis of financial inclusion, poverty reduction and economic growth in Nigeria from 1981 to 2020 using the Structural Vector Auto-Regressive (SVAR) model for analysis, with Gross Domestic Product (GDP) as dependent variable and Branches of Commercial Banks (CBBA), Automated Teller Machine (ATMAD), Mobile Phone-Based Transactions and Broad Money Supply (MS) as explanatory variables. The findings of the study reveal that the unit root test shows that Real Gross Domestic Product (RGDP), Commercial Bank Branches (CBB), Money Supply (MS) and Poverty Rate (PR) are stationary at first difference. The results also reveal that in Nigeria, availability and access to money have a positive shock impact on RGDP, and CBB also has a favourable shock effect on RGDP in Nigeria. However, the PR has a negative impact on the RGDP. Therefore, the study recommends that the government should increase its efforts to promote financial inclusion and the Central Bank of Nigeria (CBN) should make commercial banks increase not only their branches but also increase the number of Automated Teller Machines (ATMs).

Enhancing the efficiency of management of transport enterprises: modern trends and challenges

2024-10-07T05:30:59-05:00

This research examines the modern trends and challenges in enhancing the efficiency of management in transport enterprises, with a focus on the Ukrainian perspective and the impact of the ongoing war. The study highlights key trends such as digital transformation, sustainability efforts, and the increasing use of data-driven decision-making, which are reshaping the transport industry in Ukraine. The integration of technologies like AI-based route optimization and real-time tracking has become important in overcoming operational challenges caused by the war, including disrupted supply chains, damaged infrastructure, and heightened security risks. These innovations are enabling transport enterprises to minimize costs, optimize routes, and ensure service continuity despite the unstable environment. This paper investigates how Ukrainian transport enterprises are adapting to these modern trends while addressing the complex challenges posed by the war. It emphasizes the need for a flexible and resilient management approach that leverages digital tools, sustainability practices, and data analytics to enhance operational efficiency. The findings highlight that a systemic approach, supported by innovation and adaptability, is essential for overcoming the impact of war and ensuring the long-term viability of transport sector of Ukraine.

Digital Healthcare Innovations and Idea Management

2024-07-11T01:12:02-05:00

The aim of the paper is to analyse the global demand development and funding of digital healthcare innovations and also characterise idea management trends in the digital healthcare context. Web-based idea management systems (IMS) fall in line with the growing importance of information communication technologies, the spread of open innovation and co-innovation, etc. Especially systems, which are based on the Internet during COVID-19 have become important tools in all sectors. Plus, over the last few years the changes related to digital healthcare have taken place and now in this context the questions have been raised. How could they be linked with a web-based IMS? What are digital healthcare innovation demands and funding trends? The changes in search habits for health information over the last three years have become statistically significant. The growth of funding volumes has followed these changes because both digital health care and digital therapeutics have increased much faster during pandemic times than before. The growth in 2020 compared to 2019 reached 53.9%, but in 2021 compared to 2020 it even accounted 74.7%. The Asian region and Europe have also seen a sharp increase in the leverage over the past two years, but pre-pandemic levels were significantly lower than in the United States. Average annual volumes of investments in digital health have increased by about 4.2 Bn$ per year in the USA, by about 1.2 Bn$ per year in Asia, by about 0.83 Bn$ per year in Europe and by about 0.15 Bn$ per year in other regions. Such demand and funding could boost new innovations in healthcare with web-based idea management systems by internal, external, and mixed approaches in organisations with active and passive IMS. Plus, IMS could become a tool to create innovations in product or organisational innovation.