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The Iron Test-Tube: Is a Substantive Debate about Biotechnology Possible?

The Iron Test-Tube: Is a Substantive Debate about Biotechnology Possible?

Author(s): Paula Olearnik / Language(s): English Issue: 13/2014

Biotechnological issues – especially those concerning genetic engineering – are one of the most pressing political challenges of the 21st century. We are deeply divided about how to make policy decisions in this field because of the disagreement in our philosophical and religious worldviews. This paper considers whether – and if so how – substantive debate in this area is possible. It will argue that despite differences in worldviews substantive claims have little hope of succeeding in today’s world, because of two countervailing impulses: the technocratic (the desire on the part of many scientists to have a free hand in their work) and the libertarian (that regulation be left to market forces). These impulses drive policy decisions regarding biotechnology to be based on purely formal rational calculations, on means rather than ends. However it will further be argued that although praxis must take a certain priority over theory – policy decisions regarding biotechnology need not await consensus on all sides regarding substantive claims – it is possible, and highly favorable, to escape the certain aspects of the narrowly rationalistic debate that currently prevails.

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Polityka naukowa. Innowacyjność w polityce Stanów Zjednoczonych Ameryki

Polityka naukowa. Innowacyjność w polityce Stanów Zjednoczonych Ameryki

Author(s): Radosław Rybkowski / Language(s): Polish Issue: 16/2015

Celem jest zaprezentowanie polityki naukowej USA jako integralnej części polityki publicznej USA, tak jak jest ona postrzegana w najnowszych publikacjach dotyczących tej problematyki.Problem i metody badawcze: Polityka naukowa może być narzędziem stymulującym rozwój społeczno‑ekonomiczny. Zastosowany przegląd literatury przedmiotu z XXI wieku pozwala na odnalezienie istotnych cech amerykańskiej polityki naukowej.Proces wywodu: Artykuł rozpoczyna omówienie publikacji podkreślających znaczenie nowoczesnych technologii. Następnie omówiono działania władz federalnych mających na celu pobudzenie i wspieranie innowacyjności w USA. Związki postępu technologicznego z cyklami gospodarczymi podsumowują znaczenie polityki naukowej.Wyniki analizy naukowej: Wbrew prezentowanym czasem opiniom – w XXI wieku o postępie technologicznym decyduje nie tylko niewidzialna ręka rynku, ale także często niedostrzegana interwencja rządu.Wnioski, rekomendacje, innowacje: Innowacyjność wymaga wsparcia ze strony władz publicznych, przy czym należy pamiętać, że wspieranie innowacyjności dotyczyć powinno szerokiego spektrum działań, obejmującego i wstępne poziomy edukacji.

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The Effects of Economic Reforms in India in the Early 1990s

The Effects of Economic Reforms in India in the Early 1990s

Author(s): Vijay Narayanan,Ikemefuna Allen,Nahidah Naser / Language(s): English Issue: 17/2015

The aim of this paper is to understand the economic reforms that were undertaken in the late 1980s and early 1990s in India and their relevance today. The study is based on a literature review. The findings from the literature review are validated from data on growth at the national and regional levels. It was found that much of the effects of the reforms are relevant even today in the Indian context. There has been a positive impact on growth due to liberalisation policies. Economic indicators such as GDP and FDI have been on an increasing trend. The removal of trade barriers has had a positive effect on industry. Employment opportunities have increased in both rural and urban areas resulting in a reduction in unemployment. On the negative side, the observed growth is not inclusive. There has been regional a disparity in growth among the different states with some states growing faster than others. Moreover, not all sectors enjoy the benefits of liberalisation. The agriculture sector, for example, has not seen any or at least very few reforms. Thus to sum up, the government of India needs to continue the reforms and ensure that the benefits of an open market reaches one and all.

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Europeanization of European Businesses: Economies of Scope and Managerial Implications

Europeanization of European Businesses: Economies of Scope and Managerial Implications

Author(s): Krzysztof Wach / Language(s): English Issue: 19/2016

RESEARCH OBJECTIVE:The article takes as objective the identification and evaluation of the current state-of-the-art and tendencies of Europeanisation of European businesses and onceptualisation of modelling the Europeanisation process of businesses and their strategies.THE RESEARCH PROBLEM AND METHODS: Although initiated in the political sciences, since the beginning of 21st century the research into the phenomenon of Europeanisation has been more and more confidently entering the economic sciences. The study is based on a typical literature review using the conventional research methods of deduction, reduction, synthesis and theoretical modelling. THE PROCESS OF ARGUMENTATION: On the one hand, the presented discussions have a character of creative synthesis and systematics of the output of economic sciences within the scope of business Europeanisation, which includes three overlapping areas, namely the theory of the firm, the theory of internationalisation and the theory of international entrepreneurship, all of them developed both in economics and in management. On the other hand, the work is an attempt of the conceptualization of the business Europeanisation process in the holistic, inter-disciplinary representation. The search for universal determinants and mechanisms of business Europeanisation was determined by several purposes which were achieved in the course of the undertaken research works.RESEARCH RESULTS: The article proposes a conceptual framework to analyse Europeanization of a firm in its business environment, with its internal characteristics such as competitiveness and flexibility to focus on the factors, mechanisms, fields and sense of Europeanization.CONCLUSIONS, INNOVATIONS AND RECOMMENDATIONS: Based on the in-depth literature study and as the contribution the Author suggest that Europeanization strategies are assigned into four fields of an adapted internationalization matrix: Pan-European, Sub-European, Euromultiterritorial and Eurominimalistic strategies.

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Biznes cyfrowy – wyzwania wobec strategii internacjonalizacji przedsiębiorstwa

Biznes cyfrowy – wyzwania wobec strategii internacjonalizacji przedsiębiorstwa

Author(s): Małgorzata Poniatowska-Jaksch / Language(s): Polish Issue: 20/2016

CEL NAUKOWY: Celem artykułu jest zidentyfikowanie obszarów, z którymi wiążą się nowe wyzwania wobec strategii internacjonalizacji w warunkach digitalizacji gospodarki.PROBLEM I METODY BADAWCZE: Podstawowym proble­mem zaprezentowanym w publikacji są zmiany w podejściu do strate­gii internacjonalizacji wynikające z poszerzenia przestrzeni rynkowej o przestrzeń wirtualną. W opracowaniu zastosowano analizę tekstów źródłowych i metodę opisową.PROCES WYWODU: Wyzwania wobec strategii internacjona­lizacji przedsiębiorstwa poszukiwane są w trzech płaszczyznach. Pierwsza to przestrzeń, w której prowadzona jest działalność, druga to specyfika produktu cyfrowego, a trzecia to rynek produktów cyfrowych.WYNIKI ANALIZY NAUKOWEJ: Wysoka trwałość produktów cyfrowych, łatwość kopiowania i szybko spadające ceny produktów cyfrowych sprawiają, że jednym z ważniejszych źródeł przewag kon­kurencyjnych są innowacje i regulacje zwłaszcza w odniesieniu do ochrony praw intelektualnych. Kluczem do sukcesu w tym zakre­sie, łączącym się z poszerzeniem przestrzeni rynkowej, są platformy internetowe.WNIOSKI, INNOWACJE, REKOMENDACJE: Nowy przestrzenny wymiar gospodarki – wirtualny, sprawia, że w odróżnieniu od gospodarki trady­cyjnej procesy internacjonalizacji mogą być inicjowane przez klienta, a nowym obszarem badawczym jawią się zakres i metody geoblokowania.

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Developing enterprise in teaching processes managed by PhD students. 
Case studies.

Developing enterprise in teaching processes managed by PhD students. Case studies.

Author(s): Lidia Jabłonowska / Language(s): English Issue: 33/2016

Research Objective: This article aims to discuss the results of research conducted as part of a project carried out by PhD students at Warsaw School of Economics in 2014-2015 within the context of work culture in business education, including the developments attitudes of entrepreneurship. The Research Problem and Methods: The main research problem is formulated in the following, complex question: What is the teaching culture of the teaching processes carried out by PhD students and which elements of the processes are emphasised and which are not taken into account by them? The research method was case study. The Process of Argumentation: The analysis of empirical data is preceded by an overview of the theories of work culture in business education within the context of the latest trends in education as a result of changes in the (business) environment, including the changing expectations of university graduates with business degrees in terms of their attitudes to enterprise. Research Results: The processes under analysis only marginally take into account an education that develops attitudes of entrepreneurship, i.e. freedom of activity, flexibility and creativity, responsibility sharing, openness to new roles, the use of best practices and, last but not least, atmosphere of innovation. Conclusions, Innovations and Recommendations: Research shows that contrary to expectations, the predominant approach to teaching adopted by candidates for academic teachers is the mechanistic-passive culture model. Only to a small degree does their teaching show features of the humanistic culture model, which is based on interactive forms of teaching and activating methods, which means that the teaching process is not focused on developing the students’ attitude of entrepreneurship. In this situation, practical teaching of doctoral candidates concerning innovative didactic methods, including business methods and implementation of social competence within teaching, is of particular importance.

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Productivity Commissions: the New Public Policy Tool of Global Competitiveness? The Argentina-Australia Case

Productivity Commissions: the New Public Policy Tool of Global Competitiveness? The Argentina-Australia Case

Author(s): Castor López / Language(s): English Issue: 25/2017

The comparative analysis of long-term developments in Argentina and Australia is a historic issue in the academic fields. This may be due to the fact that both countries belong to the group of the so-called “fortunate countries,” for their availability of vast territorial areas (Australia with 7.7 million km2 and Argentina with 2.8 million km2 continental areas), low population rates (only about 24 million inhabitants in Australia and over 43 million in Argentina) and significant natural, agricultural and mineral resources. Brazil, China, the United States, Russia, India, Canada, the Democratic Republic of the Congo and even Indonesia are also large countries with immense natural resources.

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To Play or Not to Play: The Use of Game Theory in International Relations

To Play or Not to Play: The Use of Game Theory in International Relations

Author(s): Marina Elena Tătărâm / Language(s): English Issue: 4/2003

In the past two decades, the surge of interest in modeling national security, regional alliances, international political economy and domestic politics - to name just a few - using the tools of Game Theory has met both with considerable optimism and with sobering pessimism from quantitative and qualitative political scientists everywhere. The present paper aims to herald a comprehensive systematization of game theoretic analysis, which has been typically confined to choice case studies, and to post-hoc analysis of world events. A better typology of the approaches and testable controls that have emerged within Game Theory may shed additional light on international relations and allow for its entrance into more respectable circles of world studies theorizing.

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ANALYZING CORE DRIVERS OF SOCIETAL CHANGES IN READY TO WEAR GARMENT INDUSTRY OF INDIA

Author(s): Sharmila Sharan,Vibhuti Jha / Language(s): English Issue: 2/2019

Markets is a social system supplying society’s material needs. In today’s scenario in India, because of fast socio-cultural changes, audiences have high exposures, information and knowledge about trends, availabilities, options and uniqueness of products available and entering the market. Hence businesses need a very careful and cautious handling of the aforesaid fact in strategic planning. Manifestation of dominating societal aspects viz. social media, societal & cultural changes, rise of newer market segments, vulnerable yet aspirational youth and growing consciousness in producers & marketers are propelling the wheel of change in marketing strategies, in Indian garment market in the light of aspects like change in mindset & attitude, changing life styles, quick changing buying & usage behaviors, changing social exposures etc.In this context, companies require to analyzechange drivers of the sector to consider changing societal elements and their impact on the target segments in order to frame sustainable marketing strategies. The significance of such “change drivers” has increased in recent years in India, especially after entry and success of “affordable Chinese product” in all the segments , making it essential to understand issues like changing mindsets and societal status of customers. Now such changes require in-depth study, analysis and inclusion in strategic planning to cater and engage the target better. This need of incorporation of changes drivers in strategic planning is studied in context to ready to wear garments sector of India as this sector it is not only about selling the product but it is all about selling a life style under changing customer perception. This study will help in understanding and incorporating changing societal influences to include them in strategic planning, product development and marketing with holistic approach.

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AGRO-ECONOMIC EFFECT OF GEORGIAN AND EUROPEAN BEEKEEPING MARKET

Author(s): Tea Khositashvili,Zaza Baazavi,Mariami Khositashvili,Sandro Chalatashvili / Language(s): English Issue: 2/2019

The European Union has expanded a number of times throughout its history by way of the accession of new member countries to the Union. Former USSR republic of Georgia and the EU have maintained relations since 1996. The government expressed a desire to become a member state of the EU. To enhance their relationship, the EU and Georgia have signed several agreement in recent years. EU encourage Georgia to further approximate with European legislation and standards and initiated the process of supporting Georgian economy for further integration into EU. In recent years the European Union has been supporting rural and agricultural development of Georgia, the country with the the longest history of beekeeping and honey production. On 27 June 2014, The European Union and Georgia signed an Association Agreement. The agreement introduced a preferentialtrade regime – the Deep and Comprehensive Free Trade Area. Based on having better-matched regulations, this regime increases market access between the European Union and Georgia. In this work, alongside with statistics and brief history, we present our view of the future of this cooperation which can be based not only on export of honey to the EU market, but the Georgian Bee itself. It is estimated that pollinators, mainly honey bees, contribute at least 22 billion EUR each year to the European agriculture industry. They ensure pollination for over 80% of crops and wild plants in Europe. In recent years the quality and area of pollination in Europe has been decreasing. These issues can greatly benefit from the specific characteristics only Georgian Bee is known for, like longest tongue (proboscis) and exceptional gentleness. We strongly believe, that due to various strengths and features only this specie boasts, the export of Georgian Bees will lead to very fruitful collaboration for both parties.

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Redefining the reference librarian in the university environment

Redefining the reference librarian in the university environment

Author(s): Lenuța Ursachi / Language(s): English Issue: 2/2020

The reference librarian and the services provided hold more than ever the attention of users at the “Dunărea de Jos” University Library of Galati (DJULG). The Internet, technology and struggle for survival left a significant mark on both librarians' skills and reference services in the new context of the information society. In order to align with new trends in librarianship and to respond effectively to the increasingly complex demands of users, the reference librarians had to move beyond the traditional and reinvent themselves. As a result, new skills have been acquired and new services emerged in the information landscape of the university library. // The paper examines the evolution of the reference services at DJULG over the last ten years, emphasizing the changes of the librarian profile in this area. The variety of information sources, the emergence of new information technologies, the movement on open access have been the main elements that contributed to the professional development of the reference librarian and the implementation of new models of services for users. The case of the university library in this study reveals different profiles of the reference librarian: researcher, educator in information literacy, bibliometrician, wikilibrarian, digital resources manager, reference manager etc. Not far from the truth, we can say that the reference librarian became a chameleon, from the perspective of information evolution and ensuring sustainable library services.

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Fear psychosis : Marketing strategy for next gen buyers

Author(s): Sharmila Sharan,Vibhuti Jha / Language(s): English Issue: 1/2023

Marketing has reached the holistic concept era where a business is acting as single entity not to ignore any potential segment. Hence, companies look for profitable segments and strategies holistically for a sustainable business performance . The Millennial are considered as the largest buyers & influencers of new and proven commodities worldwide. This is the generation that have taken over the workforces and are the strongest economic force segment to recognize. This generation is vulnerable on choices , rational/ less emotional on buying approach, evaluative on advantages, benefits and disadvantages , with great buying power and sources of information. So making them to remain associated with the brand, making them to do repeat buys, control their rationality and evaluative approach is not the easy task. Marketers need to do something strategically to “hold” them to buy their products and remain engaged . Companies believe that the only thing this rational, non emotional, evaluative, money minded customer could be handled is to make him “fearful about his health, safety & security. Create threats to these sensitive aspects and then offer solution for those , he will believe that you care for him the most. In recent years this strategy has come up as Fear Psychosis which is an extension of emotional Psychosis in marketing context . It is the only thing seems to be working on this generation. Fear-based marketing influences the audiences’ psychology and urges them to take action to minimize that fear. This strategy has helped businesses to keep the customers engaged with the brand and believe that company cares for him better than others.

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DIGITAL TRANSFORMATION IN EDUCATION: A COMPARATIVE ANALYSIS OF MOLDOVA AND ESTONIA AND RECOMMENDATIONS FOR SUSTAINABLE FINANCING

DIGITAL TRANSFORMATION IN EDUCATION: A COMPARATIVE ANALYSIS OF MOLDOVA AND ESTONIA AND RECOMMENDATIONS FOR SUSTAINABLE FINANCING

Author(s): Adrian ANDRONIC / Language(s): English Issue: 2/2023

This paper explores the digital transformation of education in Moldova, with a comparative analysis of Estonia's successful experience in this area. First, the article provides an overview of the current status of digital transformation in education in Moldova and identifies critical challenges in financing this process. Next, the Education Strategy 2030 in Moldova, which aims to improve the functionality of the educational system through the effective implementation of digital technologies to ensure the quality and sustainability of education, is discussed. The success factors of digital transformation in education in Estonia, including government support, high levels of digital literacy, a strong IT sector, and a culture of innovation and experimentation, are identified. Finally, the paper provides recommendations for financing digital transformation in education in Moldova, including allocating a specific portion of the state budget, seeking funding from international organizations and donors, and exploring opportunities for educational institutions to generate income. The implications for policy and practice and suggestions for future research are also discussed.

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THE ROLE OF DIGITAL TECHNOLOGY IN THE DEVELOPMENT OF ENTERPRISES IN THE EUROPEAN UNION

THE ROLE OF DIGITAL TECHNOLOGY IN THE DEVELOPMENT OF ENTERPRISES IN THE EUROPEAN UNION

Author(s): Marina Coban / Language(s): English Issue: 2/2023

The adoption of digital technologies by EU businesses enables them to achieve better performance in terms of productivity, management practices, innovation and has a major impact on the economic growth of European countries. The aim of the paper is the analysis of digital transformation of enterprises in the EU states. We used comparative analysis of existing data from the Eurostat database. Several indicators are analyzed in this paper, such as the degree of digital intensity, the use of Cloud computing, Big data, Artificial intelligence, the share of SMEs that sell online and sell online cross-border in various EU countries. The advantages and disadvantages of e-commerce as well as the problems faced by SMEs in selling online cross-border, such as problems related to returning products, solving complaints and disputes, lack of knowledge of foreign languages were highlighted. Our study provides an overview of the current state of adoption of digital technologies by EU businesses and identifies the main trends of digital technologies progress in different EU countries.

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Tourists as Stakeholders. For a Better Tourist Involvement in Promoting Sustainable Tourism

Tourists as Stakeholders. For a Better Tourist Involvement in Promoting Sustainable Tourism

Author(s): Isbășoiu Dan Gheorghe / Language(s): English Issue: 1/2023

The development of tourism activities will be achieved, in line with global and regional policies, by promoting sustainable development and increasing stakeholders’ involvement. Beyond the affirmation of principles, it is necessary to establish concrete methods for integrating tourists, as stakeholders, into the decision-making process of tourism companies and for educating tourists in the choice of sustainable tourism destinations and activities. This article aims to review some possible methods for educating and involving tourists in sustainable tourism principles and behaviours, with reference to the measures already undertaken by large groups of tourism establishments.

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Explorarea peisajului ESG și impactul acestuia în sectorul de afaceri și investiții

Explorarea peisajului ESG și impactul acestuia în sectorul de afaceri și investiții

Author(s): Andreea Larisa Olteanu (Burcă),Alina Elena Ionașcu / Language(s): English Issue: 15/2023

The purpose of this paper is to identify the impact and importance of ESG in the business and investment world in the past few years and how can we implement ESG criteria into our businesses to continue to have profitable and investable businesses. The research is focused on the role of ESG decisions within organizations and how they can impact the value of a company. The research hypothesis is that there are various decisions of becoming ESG complaint you can take, but not all of them are profitable decisions. So, instead of taking decisions based on the implementing costs and short-term expenses, an organization should take into consideration long-term profits and a possible increase in the company’s valuation. Achieving success involves identifying these factors well in advance before they can adversely impact the well-being of the company. This allows for proactive measures to mitigate any potential detrimental consequences that may arise. This can be accomplished through ongoing monitoring of these variables, creating a dynamic process, and making informed decisions based on a solid understanding of the operational processes and needs of each company. Because of its massive politicization, ESG has become perceived more as a cost center instead of a value center. Business leaders consider that they are being forced to report something without value for their businesses when they should be asked how to turn this in their favor to make business more valuable. This paper also presents the importance of sustainable developments and how they can impact investment decisions. Analyzing the behavior of the biggest investment firms, we can identify those metrics that show if a company’s decisions about ESG implementation make it investment material.

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Determinants of frequency of wine consumption in Croatia

Determinants of frequency of wine consumption in Croatia

Author(s): Nenad Vretenar,Jana Katunar,Vinko Zaninović / Language(s): English Issue: 2/2023

Purpose: In the last 10 years, wine consumption in Croatia has increased and consumer habits and expectations have changed. Understanding consumer behavior in relation to wine consumption is important for wine-producing countries where wine is an important component of economy. The aim of this study is to identify the factors that influence the frequency of wine consumption in Croatia, where wine production is an important agricultural activity in terms of the number of people employed in the sector and an important factor in the development of tourism. Methodology: Empirical research was conducted by means of a questionnaire filled out by 169 wine consumers who visited a wine fair in the Croatian Adriatic region. Based on the collected data, we developed and estimated a multinomial logit model. Results: The results indicate that wine is consumed more frequently by men, married people, people in long-term relationships, and older people. In addition, people with high levels of education tend to drink wine less frequently. The paper explains the reasons for somewhat puzzling results and suggests future avenues of research. Conclusion: Behavioral differences were confirmed in this study between subsample groups in accordance with four demographic characteristics, i.e., gender, age, marital status, and education criteria. Our analysis showed that males are more likely to consume wine than women, older than younger and less educated than more educated participants. Our results help wine marketers to segment and target wine consumers.

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Vyučovanie finančnej gramotnosti v regionálnom školstve

Vyučovanie finančnej gramotnosti v regionálnom školstve

Author(s): Zuzana Gončárová,Jana Piteková,Ľubica Ďurajdová / Language(s): Slovak Issue: 2/2023

Increasing financial literacy in the population of children and youth is a prerequisite for preventing financial problems of individuals in adulthood. The larger part of the population will have the opportunity to learn about personal finance already during schooling, the higher the assumption that they will avoid complications related to money and property management in the future. The introduction of the issue of financial literacy into the curriculum, but above all into the state education programs, is the subject of research in the submitted paper. At the same time, it contains recommendations that were formulated with the aim of effectively introducing financial literacy into individual school education programs.

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Interactive Effect of Foreign Direct Investment (FDI) Inflow and Absorptive Capacity on Economic Growth in the African Countries

Interactive Effect of Foreign Direct Investment (FDI) Inflow and Absorptive Capacity on Economic Growth in the African Countries

Author(s): Oluwatosin Olatunji OGUNYOMI-OLUYOMI,Adeyemi Olayiwola Babasanya,I.O. Oseni / Language(s): English Issue: 4/2023

Numerous studies have examined the impact of FDI inflows on economic growth, yet, fewer studies have considered the role of absorptive capacity (ABS) factors to influence FDI inflow on the host economic growth. Unlike existing studies, this study empirically investigates the interactive effect of FDI inflows and absorptive capacity factors on economic growth among the five African countries over the study period from 1970 to 2019. In line with the main objective, the study employed static panel OLS assuming the five African countries are indifferent as well as the panel cointegration to estimate short run and long run relationship, assuming the five African are different within the study periods. Results found that only FDI inflows and trade openness positively affects economic growth in the short run while in the long run, FDI inflow and financial development, as well as FDI inflow and infrastructural facilities have a positive impact on economic growth in the African countries. Therefore, the study recommends that the presence of the absorptive capacity factors matters, especially, trade openness, financial development and infrastructure will help to absorb FDI inflow optimally to stimulate economic growth in short run and long run in the African countries.

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Entrepreneurial Orientation and Performance of Business Enterprises

Entrepreneurial Orientation and Performance of Business Enterprises

Author(s): Augustine IHEROBIEM,Mayowa Ebenezer Ariyibi,Olakunle SHOKOYA / Language(s): English Issue: 4/2023

The study examines the effect of entrepreneurial orientation on the performance of business enterprises. Five dimensions of entrepreneurial orientation which include Innovativeness, Risk Taking, Proactiveness, Autonomy, and Competitive Aggressiveness were used in the study and their effect on business enterprises in Ogun State, Nigeria. The study used a descriptive research survey and the population of the study consists of 200 business enterprises registered in the Ijebu Ode Local Government Area of Ogun State, Nigeria, and a sample size of 132 from that population was determined using the Raosoft sample size estimator at a 5% error tolerance and 95% level of confidence. Out of the 132 questionnaires distributed, 113 were returned, giving the study a response rate of 86%. Data were analyzed descriptively and inferentially using SPSS. The findings indicated that Innovativeness, Proactiveness, Risk Taking, Autonomy and Competitive Aggressiveness had a significant effect on business enterprise performance with coefficient and p-value of β1 =0.283 (p-value <0.05), β2 =0.251 (p-value <0.05) β3 =0.281 (p-value <0.05), β4 =0.180 (p-value <0.05) and β5 =0.153 (p-value <0.05) respectively. It is concluded that entrepreneurial orientation is a strong factor in the achievement of the strategic aims and objectives of a business enterprise. It is recommended that businesses should continuously forecast into the future in order to identify likely market demands, pursue additional proactive measures to address those needs, and continuously be innovative and creative in order to further improve product quality and be able to introduce new products to the market that will stand the test of time.

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