The argument holds that visionary and dynamic small and medium enterprises (SMEs) tend to position growth at the centre of strategy. However, there has been a growing body of literature that has examined how financial literacy can support owner-managersof SMEs in making solid financial decisions that will enhance the growth of their businesses. In the present study, financial literacy and financial resource availability were modelled as different antecedents of SMEs growth. Nevertheless, the boundary condition for such models has received very little attention in the context of Ghana. Accordingly, in regard to resource-based view (RBV) logic, the current research examined the implications of contingency variable financial literacy (proficiency) on the relationship between financial resource availability and SMEs growth, particularly in the context of Ghana. The findings of the current research revealed that high financial literacy led to more positive effect of financial resource availability on SMEs growth.
To expand the literature on embeddedness and life satisfaction, the present study examines the mediating role of work engagement in the relationship between organizational embeddedness and life satisfaction among hotel employees in Ghana. Multi-wave data were conveniently collected from 274 employees working as full timers in selected rated hotels in Accra. Structural equation modeling results demonstrated that organizational embeddedness positively influenced life satisfaction and links positively affected life satisfaction. Moreover, work engagement mediated the organizational embeddedness-life satisfaction nexus. Lastly, the results showed that work engagement mediated the effects of link and fit on life satisfaction. Managers of hotels should provide employees who offer frontline services with several important organizational resources such as fit and links to enhance their work engagement and therefore augment their satisfaction with life.
Despite the growing research on financial resources within the supply chain of SMEs, our understanding of the relationship between financial resource building efforts and financial resource availability remains lacking. This study draws on attention-based view theory (ABV) to develop and test an argument that heterogeneity in financial resource availability is explained by the differences in SMEs financial resource building effort. The proposed relationship is tested on a sample of 274 SMEs owners in Ghana. Structural Equation Modelling is used to test the hypotheses of the study. Findings from the study indicate that SME financial resources building effort via retained profit, personal savings, family and friends, supplier's credit and bank loan drive financial resource availability. The study findings provide a clear evidence that while financial resource availability is essential to SMEs performance, the effect largely depends on the differences in attention SMEs allocate to building their financial resource base from various sources of finance particularly retained profit and bank loan.
The primary aim of this current theoretical paper is to propose a research framework on the influence of Entrepreneurial Orientation (EO) on SMEs performance in Ghana with the role of Social Capital (SC) and Government Support Policies (GSPs). The study re-viewed existing literature and theories pertaining EO, SC and GSPs by using the five EO dimensions of Lumpkin and Dess (
1996
) to further ascertain the mediating and moderating effect of SC and GSPs in relation to SMEs performance and in Ghana and used measures of SC, and GSPs. A questionnaire will be administered to 380 registered SME-owners of Ghana based on Ghana Statistical Survey (2016) using simple random sampling technique, and the data will be analysed by the Partial Least Square-Structural Equation Modelling (PLS-SEM) approach to determine the emerged hypothesis. This study would be hinged on the resource-based view and the social capital theories stressing the need for SMEs to focus more on their unique internal and external resources that existed with-in their social capital network based on their reciprocal relations. This novel study would further provide new insight to practitioners to understand and appreciate the role of SC in explaining the EO of SMEs and how GSPs can enhance the EO and SMEs performance relationship.
Implementation of a conservation policy of preserving representative samples of all the natural ecosystems in the country has led to the establishment, from 1974, of two high-foresi national parks, namely the Bia and the Nini-Suhien, of an area now totalling 252 square kilometres or 0.3% of the original high-forests of Ghana. Continuing pressures to permit logging and other forms of exploitation for short-term cash benefits suggest that, unlike the national parks in the savanna zone, the need for high-forest national parks is yet to be fully appreciated.High-forest national parks are vital as:– A reference-base for scientific studies and for comparison with forests that have been modified through logging, sylviculture, and farming; they may thus provide data for decisions on the most desirable future management of high-forest areas;– A genetic bank for the most important timber trees and for rare and endangered species and other taxa of fauna and flora;– A focal point for the breeding and spreading of wild animals which are widely exploited for meat throughout Ghana;– As a tourist and recreational asset; the high-forest itself is the chief tourist resource within the high-forest zone, providing a unique atmosphere for relaxation and outdoor recreation; and– As an educational, cultural, ecological, and scientific, heritage of the greatest importance.Internally, therefore, the policy of creating and maintaining high-forest national parks needs to be strengthened against political and economic pressures, with pursuit of a vigorous effort at educating decision-makers and the general public to an understanding of the many intangible values of natural forests. Externally, a common habitat-conservation policy for the West African subregion is urged—not only to prevent smuggling of protected, rare, and endangered, species across national borders, but also because the environmental consequences of the abuse of Nature recognize no such national frontiers.
Often times it is argued that firm’s resources most especially financial resources have significant impact on performance. However, in spite of the indelible phenomenal impact of financial resources exhibit toward firm performance, relatively, the attention (effort) pay in building this financial resource is less examined. Relied on this assertion, this paper sought to engage attention-based view theory to develop a conceptual model to investigate whether financial resource building effort via sources of finance are able to result in SME performance. If the theoretical and conceptual model analysis confirm the above mentioned hypothesis, we can conclude that financial resource building effort by SMEs have wrongly been disregarded, which we anticipate to initiate further standpoint of studies.
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