The part that Micro, Small and Medium Enterprises (MSMEs) play, both in developed and developing countries, cannot be over emphasized and therefore their existence and survival is a matter of concern not only for the policy makers but also for the researchers. Large number of MSMEs die the same year that they are established. The current research was taken up to understand how MSMEs manage their risk and whether enterprise risk management is essential for survival and sustainable development of MSMEs. The objective of the research was to (1) understand the peculiar nature of the MSMEs which make them vulnerable, (2) explore the various risks confronted by MSMEs, (3) understand how the MSMEs manage their risk, (4) understand 'Enterprise Risk Management' and its components and (5) explore the relevance of 'Enterprise Risk Management' for the survival and sustainable development of MSMEs. The results show that MSMEs by virtue of their size, inadequate resources and restricted know-how generally confront wide-ranging risks. In MSMEs the management of risk is concentrated in the hands of the owner-managers and there are no systemic linkages between the planning and risk management. Therefore, this study stresses the need for integrating an effective enterprise risk management system with planning and administration within the MSMEs, to avoid fatal consequences.KEYWORD: risks, risk management, enterprise risk management, sustainable development JEL:D22,G32,L53, M13
It is well acknowledged fact thatentrepreneurship is an engine of economic growth and social development. Women entrepreneurship though has been growing around the world, but the evidences suggest that women entrepreneurscontinue to be adversely affected by the numerous socio-economic issues in the male dominated business societies, which hugely undermine the morale of women entrepreneurs.The current study was taken up to investigate the working of twenty sevenwomen entrepreneurs working on micro and small levels, in different areas of Uttar Pradesh (India), who have created employment opportunities for thousands of people living at grass root level and also created new prospects for the rural artisans in theirregion. The study aims to explore the various the obstacles faced by the women entrepreneurs working in different areas of Uttar Pradesh (India),analyze the impact of the prevailing constraints and challenges on the progress of these women entrepreneurs, and recommend the aspects that he to be looked into by the policy makers, to address the issues and challenges. It is also anticipated that the findings will bring to light valuable insights, which might be used by the policymakers, organization and institutions who intend to assist more and more entrepreneurs, especially women entrepreneurs, to venture into businesses. The study revealed multifarious constraints and challenges faced by the women during their entrepreneurial journey. In the current study we have tried to classify these constraints into four broad categories: Socio-Cultural Issues; Economic Issues; Psychological Issues and Managerial Issues.
Purpose Entrepreneurship has been recognized as a vital tool to combat youth unemployment and rising exclusion, as it is an incredible force that impacts economic development and societal growth by stimulating innovation, job creation and social empowerment. On the other hand, higher education institutions (HEIs) can foster entrepreneurship and thus develop entrepreneurial self-efficacy, self-employment, innovation, enhanced ability to risk-taking and thus result in benefiting people, society, organizations and economy. This prompted the authors to carry out an in-depth investigation of published research on entrepreneurship development and HEIs across Gulf Cooperation Council (GCC) countries. Design/methodology/approach This study strives to analyze the work carried out until now on entrepreneurship development in HEIs across GCC countries and describe the constructs characterizing it. Bibliometric and content analysis were carried out, integrating citations in Scopus database for last 10 years. Two software packages – Bibliometric R and VOS viewer – were used to investigate the research questions and construct various visualizations of bibliometric networks. Thematic mapping of this multidimensional research area is demonstrated, and evolving trends are identified. Findings Findings revealed that research on entrepreneurship development in HEIs is more prevalent in UAE and Saudi Arabia followed by Oman and Qatar. However, more efforts are required to further consolidate cross-national collaborations among all the GCC countries to obtain a comprehensive overview of the regional context. Originality/value Such a comprehensive bibliometric review coupled with content analysis on entrepreneurship development in HEIs across GCC countries has not yet been published, to the best of the authors’ knowledge.
Corporate governance is a significant tool to build strong and long relationships among various stakeholders in kinds of business organizations. Family businesses are not an exception to this. Like any other businesses, family businesses also need to have governance in place and practice to achieve the business strategies and to have long-term succession. Family-owned businesses are the backbone of many countries' economies in the world contributing substantial portion of GDP. Considering these, it is important to know the best practices of governance in family owned business organizations and the role played by governance to improve the strengths of these businesses. The chapter throws light on family business governance and explores various important practices highlighting their advantages and disadvantages in detail.
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