The small and medium enterprises Act as catalyst for economic growth and development in Pakistan: Economic growth and development perspective

This paper explores the value of small and medium enterprises for the economic growth and development especially in Pakistan. Moreover, it assesses the usage of information technology in SMEs sector of Pakistan. According to the recent Census of Establishments conducted by the Federal Bureau of Statistics (FBS) there are about 3.2 million economic establishments in Pakistan. Out of these Small & Medium sized enterprises (SMEs) (with employment base up to 99) constitute 90% of all private enterprises employing approximately 78% of non-agriculture labor force1. SMEs contributed over 30% to GDP, 25% in export earnings besides sharing 35% in manufacturing value addition2. The paper suggests that SMEs act as a catalyst to economical growth and development where IT embedded in their operations, planning and decisions like Hong Kong, Denmark and USA. Many other societies also place great value on the small and medium enterprises and encourage their activity. In fact, wealth and a high majority of jobs are created by small & medium businesses in the world. As a result, many experienced business people, political leaders, economists, and educators believe that fostering a robust small and medium business culture will maximize individual and collective economic and social success on a local, national, and global scale. It is recommended that SMEs may be offered access to inexpensive capital, tax exemptions and management advice & experiences and IT infrastructure which further leads toward the economical growth & development. The economical growth and development in a country can brings happiness and prosperity to its nation

Dynamic capabilities in small and medium manufacturing firms in rural Finland – role of social capital?

During the last decade, there has been wide agreement on the importance of dynamic capabilities on economic performance of firms. Simultaneously an increasing literature suggests that economic dynamics is embedded in social relations and social institutions. In this article, the determinants of dynamic capabilities of small manufacturing Finnish firms will be explored. Specifically we focus on the importance of social capital for firm dynamics. According to analysis, the most important antecedents of dynamic capabilities of firms are its strategy and social capital. Social capital as wide and active participation in network cooperation correlates statistically significantly with the firm dynamics. Social capital increases firm dynamics by enhancing communication and knowledge spillovers in corporate networks. Active networkers gain important information from their bridging and linking ties, such as other firms and public institutions. According to the analysis, the increase of trust in business relations does not correlate with the dynamic capabilities. Instead trust acts as a trigger factor when firms consider their network activities. Keywords: social capital, networks, trust, dynamic capabilities, small and medium sized enterprises

Challenges and success factors for implementation of lean manufacturing in European SMES

Small and medium-sized enterprises are crucial to value creation in the European economy. The SMEs need continuous improvement initiatives to stay competitive. However, SMEs are less likely to implement lean practices compared to larger companies. Limited research exists on the factors that are vital for succeeding with Lean implementations in SMEs. A case study of Norwegian and Belgium SMEs has been conducted in the European research project ERIP (European Regions for Innovative Productivity). Six critical success factors are suggested, which correspond well with previous research: 1) Ensure strong management involvement. 2) Develop thorough employee participation. 3) Allocate sufficient time for preparing the organisation. 4) Focus on creating motivation to complete initiatives. 5) Build competence internally in the organisation. 6) Establish a performance evaluation system

Does social capital create trust? Evidence from a community of entrepreneurs

Which kind of social capital fosters the diffusion of development-oriented trust? This paper carries out an empirical investigation into the causal relationships connecting four types of social capital (i.e. bonding, bridging, linking, and corporate), and different forms of trust (knowledge-based trust, social trust, trust towards public services and political institutions), in a community of entrepreneurs located in the Italian industrial district of the Tuscia. Our results suggest that the main factors fostering the diffusion of social trust among entrepreneurs are the perception that the local community is a safe place, and the establishment of corporate ties through professional associations. Trust in people is positively and significantly correlated also to higher levels of satisfaction and confidence in public services. Participation in voluntary organizations does not appear to increase trust in people. Rather, we find evidence of the other way round: interpersonal trust seems to encourage civic engagementTrust, Social capital, Safety, Professional associations, Entrepreneurship, Corporate ties, Group and Interpersonal Processes, Social Perception and Cognition

Work-Based Learning in California: Opportunities and Models for Expansion

Work-based learning is an educational strategy that links academic instruction with the world of work. By itself, it is a powerful tool for motivating students and enhancing learning. But it holds particular promise in the context of multiple pathways, an approach to high school reform in California that seeks to prepare more young people for success both in college and the workplace. This report by WestEd takes a broad look at work-based learning in California: how it is practiced, what it looks like when done well and how it could be expanded to engage more students

Does Social Capital Create Trust? Evidence from a Community of Entrepreneurs

Which kind of social capital fosters the diffusion of development-oriented trust? This paper carries out an empirical investigation into the causal relationships connecting four types of social capital (i.e. bonding, bridging, linking, and corporate), and different forms of trust (knowledge-based trust, social trust, trust towards public services and political institutions), in a community of entrepreneurs located in the Italian industrial district of the Tuscia. Our results suggest that the main factors fostering the diffusion of social trust among entrepreneurs are the perception that the local community is a safe place, and the establishment of corporate ties through professional associations. Trust in people is positively and significantly correlated also to higher levels of satisfaction and confidence in public services. Participation in voluntary organizations does not appear to increase trust in people. Rather, we find evidence of the other way round: interpersonal trust seems to encourage civic engagement.Trust, Social capital, Safety, Professional associations, Entrepreneurship, Corporate ties, Group and Interpersonal Processes, Social Perception and Cognition

Human Resource Management Challenges in a Slovenian Social Enterprise: A Case Study

There is a growing number of studies exploring social enterprise in order to increase the understanding of business sustainability and resilience in the social economy. However, little is known about how social enterprises or social entrepreneurs emerging from not-for-profit sectors have faced human resource management (HRM) challenges in practice. In this study, we focus on a hospitality social enterprise founded by social workers in Slovenia as a single case study. Through a series of combined interview and observation methods, we investigate the HRM challenges this social entrepreneur faced when pursuing sustainable social business. We uncovered four strategic and HRM challenges that contribute to the existing body of knowledge in the social enterprise literature. This study paves the way for future studies to focus on HRM in social enterprise