Social Media as a Promotional Tool Towards SME’s Development: Evidence from the Financial Industry in a Developing Economy

Amoah, John; Jibril, Abdul Bashiru

doi:10.1080/23311975.2021.1923357

Cited by 32 publications

(32 citation statements)

References 63 publications

(58 reference statements)

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“…That is to say, the combined effect of these factors would consequently hinder the survival of SMEs operation in the developing economies given the swift growth of innovation in the 21 st century business environment. Therefore, the findings agree with (Wang, 2016;Amoah & Jibril, 2021) that such factors warrant SMEs' sustainability in the long run. Furthermore, since business dynamism has changed recently, SMEs are to embrace such changes to operate for a longer period and enjoy the benefits of business sustainability.…”

Section: Discussionsupporting

confidence: 88%

Barriers of Smes’ Sustainability in Sub-Saharan Africa: A PLS-Sem Approach

Amoah

Jibril

Luki

et al. 2021

IJEK

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Undoubtedly, entrepreneurial knowledge is a prerequisite for the survival of every business organization. To this, the contribution of Small and Medium Enterprises (SMEs) in the socio-economic development in most developing economies cannot be underestimated. Both developed and developing countries are living testimonies of their contributions to their nation’s growth and development. However, extant literature shows that as competition and innovation intensify in the global business market, many SMEs in developing countries are constrained by external forces that hinder the sustainability of these businesses. Hence, this paper aims to find out the mitigating factors warranting SMEs’ sustainability from the viewpoint of entrepreneurs and business owners, particularly in the manufacturing sector of Ghana, a Sub-Saharan Africa region. To achieved this objective, the study deployed a simple random sampling technique with 370 valid responses through a structured questionnaire for the analysis. Relying on PLS-SEM (partial least square and structural modeling) with the aid of ADANCO 2.2.1 software version revealed that factors such as financial challenges, technology; market penetration & acceptability; and research & development are barriers facing SMEs sustainability in the Ghanaian manufacturing sector. This study would be beneficial to entrepreneurs and business owners of SMEs in most developing countries and provide deeper insight into the SME literature at large. This study would further strengthen SME entrepreneurs and business owners to fully devise strategies that can help them to override such migrating challenges and equipped them to effectively stay competitive in the long term for the firm’s growth and survival. The limitation and future research directions are equally presented in the paper.

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Section: Discussionsupporting

confidence: 88%

Barriers of Smes’ Sustainability in Sub-Saharan Africa: A PLS-Sem Approach

Amoah

Jibril

Luki

et al. 2021

IJEK

Self Cite

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“…The benefits are realised from the enhanced customer engagement made possible by using the social media as an advertising tool in favour of SMEs for improving their local as well as global presence (Amoah & Jibril, 2021).…”

Section: Discussionmentioning

confidence: 99%

Impact of social media on business performance: with reference to small and medium enterprises, Western Province, Sri Lanka

Gunawardane

Dulanjana

Siriwardana

et al. 2022

Sri Lanka J. Soc. Sci.

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Social media plays as an advertising mechanism an integral part in enabling business organisations to reach new horisons in the modern world. Inspired by the rapid penetration of clienteles made possible by social media platforms, organisations across the globe embark on exploring opportunities available for them to strengthen their brand relationships and promote their goods and services in new territories. Against this background, this paper aims to identify the impact of social media on the marketing aspect of small and medium-scale enterprises (SMEs) in Sri Lanka. It involves conducting empirical research to test the hypothesised relationships between SMEs and social media based on the conceptual framework developed after reviewing the relevant literature. The data were gathered by distributing a structured questionnaire among a sample of 101 respondents from the Western Province of Sri Lanka who operate their businesses along with an established social media presence. In the course of analysing the data, the hypotheses were tested using the method of multiple regression analysis. The results reveal that the incorporation of social media in advertising helps SMEs boost their awareness of customer perspectives and strengthen their customer relations and thereby having a significant impact on their business performance. The study also explains the implications and benefits of social media in developing the marketing aspect of SMEs.

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“…The importance of social media in assisting businesses cannot be overstated. Social media enables the blending of social interactions on online retailers by facilitating contact with consumers and aids in promoting products and services by allowing targeted, timely, and exclusive promotions and coupons to be distributed to potential customers [22] .…”

Section: Social Media and Online Shoppingmentioning

confidence: 99%

Exploring Items for Measuring Social Media Construct: An Exploratory Factor Analysis

Nasidi

Ahmad

Dahiru

2022

j. of intell. commun.

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Exploratory factor analysis (EFA) is a technique for determining a measure’s factor structure and assessing its internal consistency or reliability. EFA is essential for determining which components should be included in the study instrument. Social media is one of the most critical factors that affect online shopping behaviour. Thus, this study aims to use exploratory factor analysis to validate an instrument measuring social media in the context of online shopping. The questionnaire used in this study is adapted from previous studies. The researchers utilised a cross-sectional research design to conduct the EFA, collecting data from 100 respondents using a structured survey. The result shows that the construct has one component. The KMO is 0.892, and the outcome of Bartlett’s Test of Sphericity was significant (Chisquare = 510.816, p-value 0.000; this indicated that the data are okay to proceed. Cronbach’s Alpha was higher than 0.7, meaning that all items are reliable. The study concludes that the instruments used to measure social media in this research are valid and reliable.

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Social Media as a Promotional Tool Towards SME’s Development: Evidence from the Financial Industry in a Developing Economy

Cited by 32 publications

References 63 publications

Barriers of Smes’ Sustainability in Sub-Saharan Africa: A PLS-Sem Approach

Barriers of Smes’ Sustainability in Sub-Saharan Africa: A PLS-Sem Approach

Impact of social media on business performance: with reference to small and medium enterprises, Western Province, Sri Lanka

Exploring Items for Measuring Social Media Construct: An Exploratory Factor Analysis

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