Human Capital, Innovation and Entrepreneurship in Micro and Small Businesses in Laos

Vixathep, Souksavanh; Phonvisay, Alay

doi:10.1007/978-981-13-3525-9_5

Cited by 8 publications

(9 citation statements)

References 33 publications

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“…in Lao SMEs, RBV theory underscores the significance of internal resources such as innovative capacity and entrepreneurial ability. In summary, RBV theory provides a framework for understanding how internal resources and capabilities contribute to competitive advantage, highlighting the importance of innovation and entrepreneurialism in fostering dynamic marketing capability and driving business success for Lao SMEs (Vixathep, 2014).…”

Section: Resource-based View (Rbv)mentioning

confidence: 99%

The Power of Dynamic Marketing Capability in Lao SMES: The Roles of Innovation and Entrepreneurial Capability

Syhachack,

Siriyota,

Thangchan

2024

RGSA

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Introduction: This quantitative study investigates the dynamic marketing capabilities of small and medium enterprises (SMEs) in Lao PDR, using the resource-based view theory (RBV) and the dynamic marketing capability theory (DMC) as theoretical frameworks. Methods: Data were collected through questionnaires distributed to 367 entrepreneurs in Vientiane, Savannakhet, and Champasack provinces. Structural Equation Modeling analysis was conducted using the SMART PLS 4.0 software. Results: Findings reveal that entrepreneurial capabilities and innovative abilities significantly influence the development of dynamic marketing capabilities among Lao SMEs. Dynamic marketing capabilities positively affected both marketing and firm performance. Discussion: The findings emphasize the importance of nurturing dynamic marketing capabilities for SMEs in Lao PDR. Environmental dynamism and government support examine the moderating role of external factors’ impact on SMEs' adaptability. Conclusion: This study underscores the significance of DMC for SMEs in enhancing organizational efficiency and profitability in Lao PDR. The findings can serve as a guideline for businesses and policymakers to navigate the complexities of the local business landscape.

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Section: Resource-based View (Rbv)mentioning

confidence: 99%

The Power of Dynamic Marketing Capability in Lao SMES: The Roles of Innovation and Entrepreneurial Capability

Syhachack,

Siriyota,

Thangchan

2024

RGSA

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“…Moreover, it accentuates the need for continuous concern for human development and is essential for developing entrepreneurship and development projects (Vixathep, 2017). Governments often aspire to increase human capital investment and develop their intellectual side, as well as promote sustainable human development by focusing on building dynamic capabilities (Vixathep and Phonvisay, 2019;Vargas-Hernandez and Gonzalez, 2020). Additionally, there is a positive relationship between the number of patents and technological development, while a negative relationship exists between creators, employment growth creativity, and knowledge development (Fényes and Mohácsi, 2020).…”

Section: Human Capital Theorymentioning

confidence: 99%

“…Secondly, an institution could use internal learning or external knowledge to research for the next generation, based on the present items or technology. Finally, an organization should exhibit innovative process systems that include a continuous cycle of creativity, digestion, and re-innovation rather than relying on the operation of basic knowledge, which causes the new information to quickly become obsolete and lose its value as a source of innovation (Foss and Laursen, 2012;Hamid, 2019;Vixathep and Phonvisay, 2019). The main element in building collective innovative capital is government supportive and competitive pressure which helps to foster an innovation climate in the newly emerging education market.…”

Section: Role Of Innovation Capabilities In Human Development Competi...mentioning

confidence: 99%

Innovation capabilities and human development competitiveness in education sector: Evidence from UAE

et al. 2022

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Innovation capabilities and human development in education sector is one of the key focused areas in United Nations Sustainable Development Goals. The current research is novel to integrate and address such constructs in single theoretical framework. Grounded in Human Capital Theory, this study aims to investigate the role of innovation capabilities in human development competitiveness in the education sector of UAE. Based on the qualitative research approach, data were collected through interviews with 70 experts and leaders working in this field of Human Development Index (HDI) and innovation development in the UAE in order to more comprehensively recognize the main dilemmas involved in the phenomenon under investigation. Results indicate a huge potential of growth and improvement in education sector of UAE for supporting country SDG goals. Furthermore, it applied the conceptual statistics of key performance indicators (KPIs) collected to analyze the UAE’s HDI, innovation capabilities, and human development competitiveness from 2014 to 2020. Results revealed insightful lessons for policymakers and scholars working in innovation management and sustainable development goals area. Especially, this research will bring key policy directions and future research avenues for better innovative capabilities development in the education sector in developing and low-income economies.

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“…In the case of family firm development, this included transforming state-owned enterprises to family-owned businesses in fields such as the garment industry, alongside trade, manufacturing and commercial companies. Based on the recent literature, following the development of a family businesses policy involving various dimensions (Vixathep and Phonvisay, 2019), data indicate the significance of the role of MSMEs as they accounted for 99.8 per cent and made up 37 per cent of the GDP.…”

Section: Literature Reviewmentioning

confidence: 99%

“…Like many other less developed countries, Lao PDR’s financial domain is focussed on new business (Vixathep and Phonvisay, 2019). Any challenge to women entrepreneurs and start-up capital involves whether it is a much better resource, whether there is access to finance, whether there are viable financing strategies and if working capital is available.…”

Section: Introductionmentioning

confidence: 99%

Financing accumulation for start-up capital

Daovisan

Chamaratana

2019

JFBM

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Purpose The purpose of this paper is to understand the sources of financing accumulation that women entrepreneurs of family businesses use for start-up capital in the garment sector of the Lao People’s Democratic Republic (Lao PDR). Design/methodology/approach This study presents insights gleaned from a qualitative case study into the ways in which women in Lao PDR finance their family businesses in the start-up phase. The authors conducted 36 in-depth interviews – the study used this purposive sample in each of its five rounds of data collection. The data were collected between December 2018 and April 2019 and were analysed by conducting a content analysis assisted by the software programme ATLAS.ti. Findings The results, though highly case specific, show Lao women’s ability to: accrue their experience, apply their knowledge, engage in self-employment, support their families and aspire to become entrepreneurs. The findings clearly illustrate that women are opportunity and necessity driven, can accumulate income, possess savings behaviour, can manage working capital, investment and accounting and have access to finance (loan and debt) and thus have the potential to become successful entrepreneurs. Originality/value By contextualizing women’s entrepreneurial practices, the paper contributes to an understanding of the sources of financing accumulation used for start-up capital in Vientiane, Lao PDR. Theoretically, the paper extends the knowledge of women entrepreneurs seeking the optimal stock of finance which has the potential to drive family business success.

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Human Capital, Innovation and Entrepreneurship in Micro and Small Businesses in Laos

Cited by 8 publications

References 33 publications

The Power of Dynamic Marketing Capability in Lao SMES: The Roles of Innovation and Entrepreneurial Capability

The Power of Dynamic Marketing Capability in Lao SMES: The Roles of Innovation and Entrepreneurial Capability

Innovation capabilities and human development competitiveness in education sector: Evidence from UAE

Financing accumulation for start-up capital

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