Fostering Innovation and Entrepreneurship in Small and Medium Enterprises (SMEs)

Most of the SMEs in this decade have dealt with a difficult market environment and the present financial crises around the world. This has weakened the position of SMEs innovations particularly in markets where international producers have been able to provide low-cost products which are a threat to the existence of competitors. This research focuses on Innovation and Entrepreneurship in Small and Medium Enterprises (SMEs). The survey method was adopted. The quantitative research design was employed. The study population refers to the entire number of employees in the six selected SMEs in Lagos state Nigeria. Yamane formula was used to determine the sample size which consists of one hundred and seven (107) employees out of the one hundred and forty seven (147) employee population of the selected SMEs. The simple random sampling technique and the face validity approach were adopted. Towards this end, the test re-test reliability approach was adopted for the convenience of the researcher. Reliability was ensured by test re-test which yielded r = 0.69 and internal consistency was measured by Cronbach Alpha of 0.885. The data was analyzed using manual and electronic based methods through the data preparation grid and statistical package for the social sciences, (SPSS). The study made use of statistical tools such as (ANOVA), correlation efficient and regression analysis in testing hypotheses where applicable. The findings from the two hypotheses revealed that product innovation and process innovation influenced SMEs performance significantly. Enterprises should create their own ideas in the model of innovation and then build, develop, distribute, and sustain these ideas. It has shown in this research that innovation in SMEs is affected by financial resources deficiency, limited prospects for recruiting dedicated workers and innovation portfolios that are small in nature. The study concluded that the innovation model enhances SMEs on becoming strongly autonomous. The research recommended that process innovation should be driven by future environmental requirements and a desire to have a more sustainable pre-treatment process in the SMEs. Conducting workshops will assist SMEs to find new opportunities for innovation

Effect of Motivation on Employee Performance in CCECC Limited (China Civil Engineering Construction Corporation Nigeria)

The paper examine the effect of motivation on the performance of employees using the case of CCECC, Nigeria.. This study was guided by the following research questions (i) what is the impact of motivational goal-setting on performance of employees? (ii) What is the effect of financial incentives on employee performance? (iii) How do recognition and reward programs affect performance.The target population for this study was all the employees of CCECC Nigeria  at the headquarters in Lagos. A descriptive research design was adopted. The census technique was used in the study to select the respondents from the list of employees provided by the human resource department in order to capture the entire population, thus, the sample size of the study was 50. The questionnaire made use of a five-point Likert scale to rate the importance of various motivational factors. The research was analyzed using Statistical Package for Social Scientists (SPSS) version 24. The study revealed that the management of CCECC partially used motivational goal-setting to motivate their employees.The study also showed that there was a lack of regular training and development for the employees to improve their key skills and knowledge and this is an area that should be addressed. Therefore, the management should re-structure the goals they provide and implement mentorship and training programs. The study concluded that the company partially used recognition and reward programs but they were not effective in motivating employees to perform. It was revealed that pay received and the benefits package was not viewed by the employees as being competitive when compared to other construction organizations. The study concluded that money was a highly motivating factor for the employees and management should look into increasing the monetary and benefits package they give. The current recognition and reward programs were perceived by the employees as being inequitable and unfair.Therefore, the study recommends that management re-evaluates and re-engineers the current recognition and reward program and therefore change the perception of the employees about it. Keywords: Employee Motivation, Employee performance, Goal-Setting, Financial Incentives, Recognition and Reward, Employee training

An Investigation of the Role of Entrepreneurship Agencies for Entrepreneurship Development in Nigeria

The study was designed to explore the role of entrepreneurship agencies in enhancing entrepreneurship development in Nigeria. This paper investigates the challenges, problems facing the entrepreneurship agencies in Nigeria. The research paper utilized an explanatory qualitative approach based on the in-depth interviews with ten Nigerian Organizations based in Ogun State Nigeria. The research also brought to knowledge the several challenges with entrepreneurship agencies in Nigeria including poor planning and execution of the programmes, general indiscipline of the officials and beneficiaries, Inadequate funding, Lack of coordination of the programme. The study demonstrates the need for the Federal Government of Nigeria, Organizations and Entreprenueurs to see the importance and perceived benefits of entrepreneurship agencies for entrepreneurship development. It is recommended that developing countries particularly Nigeria should adopt a good strategic plan on gainfully engaging the youth because youths are regarded as the future of the nation and the act of indiscipline by the officials of these agencies and beneficiaries should be eradicated. Keywords – Entrepreneurship, Entrepreneurship Agencies, Entrepreneurship Development, Entreprenueurial, Challenges, Nigeria

The Impact of Process Innovation on Organisational Performance

Abstract Innovation has been at the heart of economic and social development. The rise of modern industrial powers in North America and Europe as well as the economic success of many recent developing countries were all based on rapid increases in the speed of technological process and managerial innovations. As such it is imperative for developing countries to focus on and understand the effective innovation policies as a means to promote public welfare and growth. The objectives of the study are to determine if Process Innovation has significant effect on Organisational Performance and also to examine if there is a significant relationship between Process Service Modification and Sales Volume. 114 copies of questionnaire were administered to NNPC Staffs-Ikoyi branch in Lagos State Nigeria to get primary data that treated and tested appropriate research questions and hypotheses accordingly. The study adopted survey method and Cronbach Alpha for test retest reliability. SPSS was also employed in testing the research hypothesis. The study found out that process innovation has a significant effect on organisational performance and there exist a significant relationship between service modification and sales volume. The study recommends that there should be clarified objectives with the process innovation project which helped to visualize a future layout and also a clear linkage between suppliers and uncertainty reduction in the process innovation must be observed which reduced uncertainties in process times for the current state and the future

Adult Presentation of Meckel's diverticulum – A Case Report

Meckel’s diverticulum (MD) is a congenital outpouching or bulge in the lower part of the small intestine. It is the most common congenital defect of the gastrointestinal tract. MD is usually asymptomatic but when symptomatic, typically presents in childhood. A case is presented of a 33-year-old Caucasian man who presented with multiple episodes of bright red blood per rectum prior to hospital admission, with associated weakness and nausea. The patient denied abdominal discomfort, fevers, or vomiting. Eventually, it was found that the patient had a Meckel’s diverticulum with an associated focus of active extravasation from a dilated mesenteric vein. The feeding artery was successfully embolized with cessation of flow to the draining vein. Colonoscopy and computed tomography (CT) scan were inconclusive, and the patient ultimately underwent diagnostic laparoscopy and small bowel resection of the Meckel’s diverticulum to prevent further bleeding by removing aberrant tissu

International Business Environment and Constraints of Small and Medium Enterprises in Nigeria

The extent to which environmental factors affect small and medium and enterprises (SMEs) in emerging markets has been controversial in recent time. Also, the internationalization of businesses appear to achieve advance reckoning as a result of  the influence of globalization on most national economies giving rise to decrease in environmental barriers and government-imposed barriers due to continuous improvement  in technology. The population of the study consisted of randomly selected employees of selected manufacturing and services SMEs, in Nigeria. A total sample of 334 respondents was considered through the administration of a structured questionnaire. The statistical tools included multiple regression and correlation analysis through the SPSS computer packages. The results showed that foreign legal systems (FLS), has significant relationship on the businesses’ survival rate (at P =0.00). It was also found out that cultural differences (CD) has significant relationship with business sales (at P=0.00). Hence, the study recommends that Businesses must ensure they carry-out proper environmental analysis before entering the international market as this will help in identifying critical issues that needs to be solved before eventually entering the international market that is even more competitive than the local market

Moderating Influence of Strategic Human Resources Management Practices on Small-Medium Firm Performance

The paper examines the link between Strategic Human Resources Management (SHRM) and Small-Medium Firm (SMF) Performance. The objectives of the study are to explore the link between Strategic SHRM practices and Small-Medium Firm Performance and also to examine whether factors like size, maturity, planning level, and availability of human resource department make any difference in practicing SHRM to the selected firms in the food industry in Nigeria

International Business Environment and Constraints of Small and Medium Enterprises in Nigeria

The extent to which environmental factors affect small and medium and enterprises (SMEs) in emerging markets has been controversial in recent time. Also, the internationalization of businesses appear to achieve advance reckoning as a result of  the influence of globalization on most national economies giving rise to decrease in environmental barriers and government-imposed barriers due to continuous improvement  in technology. The population of the study consisted of randomly selected employees of selected manufacturing and services SMEs, in Nigeria. A total sample of 334 respondents was considered through the administration of a structured questionnaire. The statistical tools included multiple regression and correlation analysis through the SPSS computer packages. The results showed that foreign legal systems (FLS), has significant relationship on the businesses’ survival rate (at P =0.00). It was also found out that cultural differences (CD) has significant relationship with business sales (at P=0.00). Hence, the study recommends that Businesses must ensure they carry-out proper environmental analysis before entering the international market as this will help in identifying critical issues that needs to be solved before eventually entering the international market that is even more competitive than the local market

Learning cum Development Outcomes and Training Budget of Technology Based Entrepreneurial Firms in a Recessive Economy

Learning and development outcomes in organizations have been of contention in most technology based entrepreneurial firms in recessive economies like Nigeria and the inability to appropriate finance for learning and development priorities tend to inhibit the growth of human capital in the nation’s economy at large. The research analyzed the effect of operation budget on learning effectiveness during recession and evaluated the effect static budget on competitive advantage during recession. The findings showed that operation budget have significant effect on learning effectiveness (at P =0.004). It was also found that static budget does not have any significant relationship with competitive advantage (at P= 0.084). The research concludes that economic meltdown has not too many effects on learning and development outcomes of human capital as organizations still gets value for trainings on employee with reference to productivity in Nigeria. The study further recommends that entrepreneurial firms should create enabling operating environment for employees through right learning and development policies to avoid degradation of human capital

Strategic Leadership and Sustainability of Small and Medium Enterprises in Nigeria

Industrija malih razmjera u Nigeriji smatra se važnim elementom gospodarskog rasta jer pridonosi bruto nacionalnom proizvodu, a neprijeporno je da strateško vođenje utječe na uspjeh malih i srednjih poduzeća te njihovu održivost. Osnovni cilj istraživanja jest ispitati kakav utjecaj primjena strateškog vođenja ima na uspjeh i održivost malih i srednjih poduzeća u Nigeriji u smislu društvenog utjecaja. Podijeljeno je oko 300 upitnika malim tvrtkama. Studija je pokazala da postoji značajan utjecaj strateškog planiranja na održivost profitabilnosti malih i srednjih tvrtki, a rezultati pokazuju da su direktori koji održavaju profitabilnost upravo oni koji strateški planiraju. Studija je također otkrila da povrat investicijskih ulaganja malih i srednjih tvrki ovisi o prikladnosti liderskih praksi. Studija preporučuje malim tvrtkama da učinkovito implementiraju strategije kako bi ostvarile korporativne ciljeve domaćeg malog i srednjeg poduzetništva.The small-scale industry in Nigeria is considered to be an important element to the growth of the economy in contributing to the gross domestic products of the economy and it has been of contention that strategic leadership has influenced and sustained the performance of small and medium enterprises. As such, the main objective of the study is to examine how the exercising of strategic leadership has influenced and sustained the performance of small and medium enterprises in Nigeria in terms of social impact. About 300 questionnaires were administered to small sized companies. The study found that there is a significant influence of strategic planning on sustaining small and medium enterprise profit performance and the results indicated that the managers that sustain profitability performance are those that are strategic in planning. Also, the study discovered that the return on investment of Small and Medium Enterprise depends on the appropriateness of its leadership practices. The study recommends that small-sized companies should be effective in their strategy implementation in order to achieve the corporate objectives of indigenous Small and Medium Enterprises