The pathway to winning: optimizing small and medium enterprises performance in the construction industry through tailored success factors

IF 7.1 3区 管理学 Q1 BUSINESS
Yenus Muhammed Argaw, Yingqi Liu
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Abstract

Small and medium-scale enterprises (SMEs) play a crucial role in most developing countries. However, many of these enterprises face a range of challenges that hinder their growth and survival. This research aimed to examine the critical success factors affecting the growth of different sizes of SMEs in the Ethiopian construction industry. The novelty of the paper lies in addressing the identification problem found in the existing literature by employing appropriate estimation techniques to quantify the contribution of multiple success factors, thereby moving beyond descriptive statistics. Using an ordered logit model, we obtained interesting and informative results about the effects of critical success factors on the growth of SMEs. The results invariably suggest that the contribution of the critical success factors depends on the firm's specific factors (annual turnover). We found that not all factors exert comparable effects on success; certain factors wield a substantial influence for larger SMEs, whereas others demonstrate a significant impact on smaller SMEs. The gender of the owner has a positive and significant impact on the sustainable growth and success of Ethiopian construction firms with an annual turnover below 500,000 Birr. In contrast, for firms with an annual turnover above 500,000 Birr, the entrepreneur’s education level and entrepreneurial orientation are strongly and positively associated with firm success, showing a greater influence compared to lower-turnover firms. Therefore, this paper strongly recommends SME owners, managers, and staffs consider the level of annual turnover as the effectiveness of success factors depends on the level of annual turnover.
制胜之路:通过量身定制的成功因素优化建筑行业中小企业的绩效
中小企业在大多数发展中国家发挥着至关重要的作用。然而,其中许多企业面临着一系列阻碍其成长和生存的挑战。本研究旨在研究影响埃塞俄比亚建筑业中小企业不同规模增长的关键成功因素。本文的新颖之处在于通过采用适当的估计技术来量化多个成功因素的贡献,从而超越描述性统计,解决了现有文献中发现的识别问题。使用有序logit模型,我们获得了关于关键成功因素对中小企业成长的影响的有趣和翔实的结果。结果总是表明,关键成功因素的贡献取决于公司的具体因素(年营业额)。我们发现并不是所有的因素对成功都有类似的影响;某些因素对较大的中小企业有重大影响,而另一些因素则对较小的中小企业有重大影响。业主的性别对年营业额低于50万比尔的埃塞俄比亚建筑公司的可持续增长和成功具有积极和重大的影响。相比之下,对于年营业额在50万Birr以上的企业,企业家的教育水平和创业取向与企业成功有着强烈的正相关关系,比低营业额的企业表现出更大的影响。因此,本文强烈建议中小企业所有者、管理者和员工考虑年流动率,因为成功因素的有效性取决于年流动率。
本文章由计算机程序翻译,如有差异,请以英文原文为准。
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来源期刊
CiteScore
11.70
自引率
3.40%
发文量
30
审稿时长
50 weeks
期刊介绍: European Research on Management and Business Economics (ERMBE) was born in 1995 as Investigaciones Europeas de Dirección y Economía de la Empresa (IEDEE). The journal is published by the European Academy of Management and Business Economics (AEDEM) under this new title since 2016, it was indexed in SCOPUS in 2012 and in Thomson Reuters Emerging Sources Citation Index in 2015. From the beginning, the aim of the Journal is to foster academic research by publishing original research articles that meet the highest analytical standards, and provide new insights that contribute and spread the business management knowledge
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