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"BUSINESS SUCCESS"
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Race and Entrepreneurial Success
Thirteen million people in the United States--roughly one in ten workers--own a business. And yet rates of business ownership among African Americans are much lower and have been so throughout the twentieth century. In addition, and perhaps more importantly, businesses owned by African Americans tend to have lower sales, fewer employees and smaller payrolls, lower profits, and higher closure rates. In contrast, Asian American-owned businesses tend to be more successful. In Race and Entrepreneurial Success, minority entrepreneurship authorities Robert Fairlie and Alicia Robb examine racial disparities in business performance. Drawing on the rarely used, restricted-access Characteristics of Business Owners (CBO) dataset compiled by the U.S. Census Bureau, Fairlie and Robb examine in particular why Asian-owned firms perform well in comparison to white-owned businesses and black-owned firms typically do not. They also explore the broader question of why some entrepreneurs are successful and others are not.. After providing new comprehensive estimates of recent trends in minority business ownership and performance, the authors examine the importance of human capital, financial capital, and family business background in successful business ownership. They find that a high level of startup capital is the most important factor contributing to the success of Asian-owned businesses, and that the lack of startup money for black businesses (attributable to the fact that nearly half of all black families have less than $6,000 in total wealth) contributes to their relative lack of success. In addition, higher education levels among Asian business owners explain much of their success relative to both white- and African American-owned businesses. Finally, Fairlie and Robb find that black entrepreneurs have fewer opportunities than white entrepreneurs to acquire valuable pre-business work experience through working in family businesses.
eBook
The Illusions of Entrepreneurship
There are far more entrepreneurs than most people realize. But the failure rate of new businesses is disappointingly high, and the economic impact of most of them disappointingly low, suggesting that enthusiastic would-be entrepreneurs and their investors all too often operate under a false set of assumptions.
This book shows that the reality of entrepreneurship is decidedly different from the myths that have come to surround it. Scott Shane, a leading expert in entrepreneurial activity in the United States and other countries, draws on the data from extensive research to provide accurate, useful information about who becomes an entrepreneur and why, how businesses are started, which factors lead to success, and which predict a likely failure.
The Illusions of Entrepreneurshipis an essential resource for everyone who has dreamed of starting a new business, for investors in start-ups, for policy makers attempting to facilitate the formation and survival of new businesses, and for researchers interested in the economic impact of entrepreneurial activity. Scott Shane offers research-based answers to these questions and many others:
· Why do people start businesses?
· What industries are popular for start-ups?
· How many jobs do new businesses create?
· How do entrepreneurs finance their start-ups?
· What makes some locations and some countries more entrepreneurial than others?
· What are the characteristics of the typical entrepreneur?
· How well does the typical start-up perform?
· What strategies contribute to the survival and profitability of new businesses over time?
eBook
Enhancing enterprise resource planning: An empirical analysis of feature utilisation and competitive advantage in small- and medium-sized enterprises
BackgroundSmall- and medium-sized enterprises (SMEs) in South Africa face numerous challenges, including limited access to financial resources and intense competition. The adoption of enterprise resource planning (ERP) systems has been posited as a strategic solution to enhance operational efficiency and competitiveness.AimThis study aims to examine the strategic utilisation of ERP systems within South African SMEs, focussing on the specific features leveraged to improve business competitiveness.SettingThe research was conducted across various industries, including manufacturing, retail, information technology (IT), security, construction, oil & gas and transport, providing a comprehensive view of ERP adoption in the South African SME context.MethodsA mixed-methods approach was adopted, incorporating both quantitative and qualitative data collected via a comprehensive survey of SME owners and IT managers. The survey included Likert-scale items and open-ended questions to capture the frequency of ERP feature utilisation and qualitative insights into their impact on business performance.ResultsThe findings indicate a significant correlation between the strategic use of ERP features and improvements in the Cash Conversion Cycle (CCC), enhancing financial efficiency and competitiveness. Key ERP functionalities such as inventory management, customer relationship management (CRM) and financial management were frequently utilised by successful SMEs.ConclusionThe study concludes that targeted use of ERP systems can substantially improve operational efficiency and competitiveness for SMEs. By focusing on core ERP features that impact financial metrics like the CCC, SMEs can enhance their financial stability and market resilience. Furthermore, integrating CBSI with ERP systems offers a predictive tool for assessing performance, aiding SMEs in strategic planning and decision-making.ContributionThe study explores the potential integration of the Composite Business Success Index (CBSI) within ERP systems to provide a more comprehensive measure of business performance.
Journal Article
THE EFFECT OF MANAGERIAL SKILL ON BUSINESS SUCCESS
The primary aim of this research is to identify the influence of managerial skill on business success. This study is based on in-depth interviews with 15 senior executives from Israeli international industry. Content was analyzed to reveal factors affecting success. In addition, the research uncovered several additional key factors such as marketing knowledge, sales skills and team quality, each closely associated with business success. This work is the second to incorporate factors most affecting business success and should help entrepreneurs and / or managers leading such organizations take actions to increase their chances of success.
Journal Article
THE EFFECT OF CHATGPT ON BUSINESS SUCCESS
Objetivo: investigar o papel do ChatGPT no sucesso dos negocios e identificar a eficacia da adoçâo e da estrategia do ChatGPT. Referencia Teórica: Este estudo baseia-se nos quadros teóricos de inteligencia artificial, ChatGPT, Chatbot e Tecnología, concentrando-se em seus papéis no sucesso dos negocios. Método: Foi adotada urna pesquisa quantitati va mono-método, com uma abordagem dedutiva, e ontologia do objetivismo. Os dados foram coletados por meio de urna pesquisa e o horizonte de tempo é transversal. Resultados e Conclusâo: Este estudo descobriu que as empresas devem elaborar estrategias para o uso do ChatGPT, e a satisfaçao do usuario deve ser priorizada. A personalizaçao deve ser promovida ao usar o ChatGPT, e a tomada de decisöes proativa é uma necessidade. Implicaçöes da Pesquisa: as descobertas oferecem informaçôes valiosas para empresas que desejam sobreviver em um ambiente de negocios em rápida mudança. Adotar estratégicamente o ChatGPT tem o potencial de melhorar as operaçôes de negocios, a satisfaçao do cliente e o sucesso gerai no cenário de negocios cada vez mais digital e integrado à IA. Originalidade/Valor: este estudo contribuí para o sucesso e a prosperidade do negocio, proporcionando assim uma perspectiva única.
Journal Article