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Author(s):
Laven Ubandoma Joshua, Agbaeze Emmanuel Kalu (Prof.), Egrinya Francis Ogabo (Ph.D.).
Page No : 1-35
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Economic Environment and Entrepreneurial Development in North Central Nigeria
Abstract
This work sought to determine the impact of Economic Environment (EE) and Entrepreneurial development in North central, Nigeria. The unprecedented factors arising from inconsistencies, to lack of continuity of policies and programmes implementation constitute a lot of constraints that impede on the establishment, growth and development of Small and Medium Enterprises (SMEs) in the North central, Nigeria. The specific objectives of the study were to: (i) Ascertain the extent to which unemployment rate effects start-up business and entrepreneurial development in North central, Nigeria. (ii) Evaluate the extent to which total tax rate effects the growth of business enterprises in North central, Nigeria. (iii) Assess the extent to which domestic interest rate by banks to private sector impact on entrepreneurship development in North central, Nigeria. The study adopted survey research design, and ex-post facto, the population of the study was 18,173 staff made of owner-founder and management staff, from 2,178 private enterprises that registered with the respective state ministries of trade, commerce, industry and tourism in North central, Nigeria. A sample size of 377 was drawn from the population using Krejcie and Morgan (1970), sample size determination. The instrument used for data collection was mixed method: Quantitative method (structured questionnaire) and Ex-post facto (secondary data). The hypothesis were tested using Augmented Dickey-Fuller (ADF) and Phillips Perron (PP) to ascertain the time series properties of the variable for hypothesis one. Hypotheses two and three were tested using simple linear regression. The findings revealed that, to a large extent the listed Economic factors had significant negative relationship with entrepreneurial development in North central, Nigeria. Based on the findings of the study it was recommended that, there should be strategic policy by government and individual put in place to ensure substantive numbers of work force engaged in both private and public sectors; government should encouraged entrepreneurial development by enforcing on financial institutions to issue one-digit interest rate loan to entrepreneurs and business concern to boost business activities in the region. More so the issue of double taxation on entrepreneurial activities should be minimized or avoided to provide a level plane ground for business enterprises to strive, grow and develop in North central, Nigeria.
| 2 |
Author(s):
Chikere Peter (Ph.D.), Renner Blessing Awaji-ima (Ph.D.).
Page No : 36-45
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Innovative Behaviour and Opportunity Recognition in Food and Beverages Firms, Port Harcourt.
Abstract
The study examined innovative behaviour and opportunity recognition of food and beverages firms in Port Harcourt. The study used a correlational research methodology, and the population consisted of 25 food and beverage businesses in Rivers State. The study used a census survey with a managerial staff focus in addition to its population of 25 food and beverage companies. One hundred twenty-five (125) copies of the questionnaire were made available in total. The data collected for this study were analyzed through descriptive and inferential statistics. The Spearman Rank-Order Correlation Technique was employed to test the various hypotheses formulated with the aid of the Statistical Package for Social Sciences (SPSS). From the data generated and analysed, it was empirically discovered that a positive and significant relationship exists between Innovative Behaviour and Opportunity Recognition of food and beverages firms in Port Harcourt. Problem solving and creativity showed a strong positive relationship with s opportunity recognition of food and beverages firms in Port Harcourt. The study concluded that engaging in innovative behaviour will achieve bumper success in many food and beverages firms. Following the conclusion above, the study therefore recommends that; Food and beverages firms in Port Harcourt should adopt problem solving approach to take advantage of market opportunities and improve sales and also food and beverages firms should be creative and innovative, especially through new product development, being first to market with new products.
| 3 |
Author(s):
Chikere Peter (Ph.D.), Blessing Awaji-ima Renner .
Page No : 46-59
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Entrepreneurial Design Thinking and Marketing Performance of Food and Beverage Firms in Port Harcourt, Rivers State
Abstract
The study examined the relationship between entrepreneurial design thinking and marketing performance of food and beverage firms in Port Harcourt, Rivers State. This study adopted a correlational research design, with the population of the study comprising 25 food and beverage firms in Rivers State. Sequel to the population of the study, which is 25 food and beverage firms, the study adopted a census study with a focus on the managerial staff (production manager, quality control manager, marketing manager, and procurement manager). The questionnaire was distributed in a frame of four (4) copies per firm. A total of one hundred (100) copies of the questionnaire were distributed. The reliability of the instrument was determined using Cronbach's alpha test and it stood at 0.88, higher than the benchmark of 0.7. The data collected for this study were analyzed through descriptive and inferential statistics. The Spearman Rank-Order Correlation Technique was employed to test the various hypotheses formulated. The empirical results of this study confirmed that all the dimensions of entrepreneurial design thinking (creativity, and problem solving) were found to be significant predictors of marketing performance as measured by sales growth. Since all the dimensions of entrepreneurial design thinking are significant predictors of marketing performance, it is therefore concluded that entrepreneurial design thinking has the potential of improving marketing performance of food and beverage firms in Port Harcourt, Rivers State. Based on the findings and conclusions, the study recommends that: food and beverage firms should come up with creative designs, novel products and services that will catch the customer’s attention and improve marketing performance. Also, food and beverage firms, especially those facing different challenges, should adopt a problem solving approach to enable them to improve their sales growth.
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Author(s):
Obonetse Fulu .
Page No : 60-69
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Assessing the Utilization and Effectiveness of Content Marketing in Business Practices in Botswana
Abstract
The study ascertains the extent to which content marketing is used by businesses. The objective of the study was to ascertain the extent to which content marketing is used by businesses. The study employed the quantitative research method where the data for the study were collected through the survey approach. The regression method was employed to analyse the data collected and it was found that: access to micro content does not significantly influence individual trust for a product compared to access to large content. However, access to content, online presence, age, and gender significantly influence consumer trust. Content marketing, higher online purchasing behavior, and higher consumer age significantly increase trust for a product. Males were less likely to have reduced trust compared to females. The research suggests that modern consumers are more concerned with the quality and dependability of information than its length. Therefore, businesses should focus on providing accurate, transparent, and dependable information. Content marketing plays a crucial role in fostering consumer confidence, as it increases trust by providing thorough and trustworthy information. This highlights the importance of digital marketing methods and the need for businesses to invest in informative, precise, and interesting content marketing efforts to increase brand trust and customer loyalty.
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Author(s):
Obonetse Fulu.
Page No : 70-85
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Strategic Foundations: Unravelling the Role of Business Strategy and Structure in Fostering SME Success in Botswana
Abstract
The study investigated the influence of business strategy and structure on SMMES business success in Botswana. The study was guided by market orientation theory which holds significant importance within the field of marketing research, as it underscores the need for organisations to align their internal processes, products, as well as strategies with the current market conditions. The quantitative research approach was employed, and the Poisson regression employed to analyse the survey data collected. It was found that strategic planning expertise, the application of a corporate strategy, employee inputs, and adherence to rigorous standards are all associated with a large rise in profitability. The results also highlight the value of a cooperative strategy within the company. When staff members participate in decision-making, they develop a sense of ownership and dedication to the company's success, which leads to increased commitment and output. Customer experiences, operational effectiveness, and ultimately the bottom line is all positively impacted by this. The emphasis on adhering to rigid guidelines also emphasises the significance of discipline and uniformity in operations. The study concludes that Botswana's SMMEs should prioritise strategic planning and ongoing skill development to adapt their company operations to changing market needs, so ensuring long-term growth and competitiveness. Policymakers and business support institutions should cultivate a cooperative environment that promotes employee involvement in decision-making and the implementation of strict operational benchmarks to stimulate innovation, productivity, and responsibility within the small, medium, and micro enterprise (SMME) sector.
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Author(s):
Ibrahim Musa, El-Yaqub Ahmad. B., Sule Magaji.
Page No : 86-101
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Impact of Commercial Bank’s Credits on Manufacturing Output in Nigeria: An Ex-post Factor Research Design Approach
Abstract
This study employed an empirical analysis to investigate the impact of commercial banks' credit (CBC) on manufacturing sector output (MSO) from 1992 to 2021. The approach utilised is Ex-Post Facto Research Design. The study’s findings indicated that CBC has a beneficial and substantial influence on MSO. The long-term value of CBC has a positive and substantial impact on MSO. A 1% rise in Credit to Small and Medium Businesses (CSM) led to a 0.1866% increase in MSO. Conversely, a unit increase in deposit interest rate (DINR) resulted in a 0.0081% fall in MSO. In the long run, a unit increase in Government Capital Expenditure (GOV) caused a 0.1482% increase in MSO. Therefore, through its monetary authority, the Government makes an efficient policy that allows the manufacturing sector and small and medium enterprises to access bank credit at low interest rates.
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Author(s):
Christabel D. Brownson, Abasi-ene O. Bassey.
Page No : 102-120
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Innovative Behaviour: Male Vs Female Entrepreneurs in Akwa Ibom State
Abstract
It is observed that there are more male entrepreneurs engaged in entrepreneurial activities than female entrepreneurs given a number of factors that hinder the female entrepreneurs. However, does this translate to the male entrepreneurs being more innovative than the female entrepreneurs? This study aims to examine the innovative behaviour of male and female entrepreneurs in Akwa Ibom State. Using a survey design and a purposive sampling method, 250 respondents were examined for the study and the data analysed using descriptive statistics revealed the findings that both male and female entrepreneurs have similar levels of innovative behaviour, although the female entrepreneurs exhibited a slightly higher level of innovative behaviour in the areas of product innovation, process innovation, market innovation and raw materials innovation. The result indicated that the male entrepreneurs’ process innovation led to a slightly speedier delivery of their goods compared to the female entrepreneurs and that their goods stand out against competitors compared to the female entrepreneurs. In organisational restructuring, both male and female entrepreneurs have a similar level of innovative behaviour, however, the female entrepreneurs tend to reorder each division of their businesses to ensure employee’s effectiveness more than the male entrepreneurs and profit tend to increase more for the female entrepreneurs who reorder their businesses compared to the male entrepreneurs. Hence, more female citizens in the state need to be encouraged to startup and to stay creative and innovative.
| 8 |
Author(s):
Everlyne Sikenyi, Ambrose Kemboi , Ronald Bonuke.
Page No : 121-138
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Serial Mediation Effect of Firm Size and Dynamic Capabilities on the Relationship Between Leadership Style and Competitive Advantage of Manufacturing Firms in Kenya
Abstract
Competitive Advantage plays a significant role in developing and accomplishing organizational goals. However, some of the organizations are struggling to attain a competitive cutting edge against competitors. Previous studies have been done on the effect of different leadership styles on Competitive Advantage with mixed findings, therefore, requiring the inclusion of moderating or mediating variables. The purpose of this study is to establish the serial mediating effect of Firm Size (FSZ) and Dynamic Capability (DC) on the relationship between Leadership Style (LS) and Competitive Advantage (CA). The specific objectives were to assess the effect of Leadership Style and Dynamic Capabilities on Competitive Advantage, to establish the effect of Leadership Style on Firm Size, and to establish the mediating effect of Firm Size on the relationship between Leadership Style and Competitive Advantage. The study was guided by; the Resource Based View, Porter’s Generic Strategy of Competitive Advantage, Five Forces of Competitive Position and Capability Based View Theories. A positivism paradigm and explanatory research design were used. A sample size of 400 out of 795 manufacturing firms registered by Kenya Association of Manufacturers (KAM) and operating in Nairobi County, Kenya was obtained using Yamane’s formula. Data was collected using a close-ended questionnaire and analyzed using descriptive statistics including mean, standard deviations and inferential that is correlation and Hierarchical Regression analysis. Further, Hayes Model 6 was used to test the mediations and mediation hypotheses: The results showed that LS (β=.419 and LLCI = .323, ULCI = .516), FSZ (β=.23 and LLC I = .138, ULCI = .330) significantly influenced CA. Additionally, LS (β=.635 and LLCI = .554, ULCI = .716) has a significant effect on FSZ. The results further showed that FSZ mediated the relationship between LS and CA (β=.148, Boot LLCL =. 073 and Boot ULCI= .218). In conclusion, the study established that Firm Size mediated the relationship between Leadership and Competitive Advantage. The findings clarify the alignment of Firm Size with CA for manufacturing firms in Kenya. Therefore, managers should be cognizant of the size of the firm which influences the abilities of the firms to attain Competitive Advantage.
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Author(s):
Akinleke Wasiu Olaitan (Ph.D.).
Page No : 139-151
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An Examination of the Attitudes of Polytechnic Students to Entrepreneurship Education
Abstract
It is a fact that entrepreneurship has important roles to play in any nation’s socio-economic growth as it helps graduates to establish their own businesses, thereby creating jobs rather than depending on governments and private establishments for employment. This explains why entrepreneurship training was held important among students in higher institutions globally. However, gender differences have been observed in the attitudes of students towards such education. This study was conducted to investigate how students’ gender might influence their attitudes toward entrepreneurship training in order to reinforce the opinion and behaviour of potential entrepreneurs in Nigeria. Three hundred and fifteen (315) randomly selected HND II students of the Federal Polytechnic, Ilaro, Ogun State were involved in the study. The study was conducted in a classroom environment during some of their classroom sessions. A questionnaire which has 32 items (divided into three sections) was developed to gather information from the students. It was formed in Likert’s 5-point format and subjected to a pilot study. After information was collected from the students, it was subjected to statistical analysis using SPSS V21. It was realized that gender is an important factor of entrepreneurship education as a significant difference was observed in the perceived behavioural control of the male and female respondents. It was also discovered that students’ academic field does not make them feel differently about entrepreneurship lessons. It was then recommended that faculties must adopt methods and approaches that ensure gender neutrality when delivering entrepreneurship instructions. Also, policymakers in the education sector must make sure that the core objectives of entrepreneurship education are emphasized in all academic curriculums.
| 10 |
Author(s):
Ifekanandu Chukwudi Christian (Ph.D.), Ihuoma Chukwudi Ifekanandu.
Page No : 152-169
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Value Innovation Strategies and Sales Growth of Food and Beverage Firms in South-South Nigeria
Abstract
This study examined value innovation strategies and sales growth of food and beverage firms in South-South Nigeria. The study adopted the positivist research philosophy and the correlational research design. The population of this study consisted of all the 82 registered food and beverage firms in South-South Nigeria. The sample size of 68 firms was used for the study. The sample size was determined using the Taro Yamene’s formula. The sampling unit was made up of managers of the 68 selected food and beverage firms in South-South Nigeria. A structured questionnaire was used as the main instrument for data collection. The data collected were analyzed statistically while the Pearson Product Moment Correlation Coefficient (PPMCC) was used to test the formulated hypotheses. The SPSS software program version 24 was used to perform the bivariate analysis. The findings revealed that ideation has a significant relationship with sales volume growth of food and beverage firms in South-South Nigeria. This study also found a significant relationship between ideation and sales revenue growth of food and beverage firms in South-South Nigeria. A significant relationship was found between value creation and sales volume growth of food and beverage firms in South-South Nigeria. The study equally found a significant relationship between value creation and sales volume growth of food and beverage firms in South-South Nigeria Based on these findings, it was concluded that value innovation strategies such as ideation and value creation significantly relate to sales growth of food and beverage firms in South-South Nigeria. Based on the findings and conclusion, it was recommended that food and beverage firms in South-South Nigeria should adopt value innovation strategies as it would enhance the sales growth of their firms.
| 11 |
Author(s):
Margaret K. Otolo, Stephen M. A. Muathe, Linda Kimencu.
Page No : 170-192
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Beyond Survival: How Does Organisational Support Mediate between Intrapreneurial Strategies and Performance of Public Universities in Kenya?
Abstract
Intrapreneurship is critical for public universities as it helps the universities obtain a competitive advantage. For intrapreneurship to thrive, it should be inculcated in the public university culture, mission, obligations and goals. Studies posit that management support, reward systems, social relationships, knowledge-sharing and work discretion spur intrapreneurial activities in an organisation. It is against this backdrop that this study sought to establish the mediating effect of organisational support on the relationship between intrapreneurial strategies and the performance of public universities in Kenya. The research was guided by the resource dependency theory and utilised a positivist philosophy. A combination of descriptive and explanatory research designs was used. The unit of analysis was 20 public universities, and the unit of observation was 400 participants. A semi-structured questionnaire was used to collect primary data. With the help of SPSS Version 23, quantitative data was analysed, using descriptive and inferential statistics. Qualitative data was analysed using content analysis and the findings were expressed guided by the objectives of the study. Multiple regression models were used to test the association between variables, and the results obtained were presented using figures and tables. A statistically significant (β-0.760, p=0.000<0.05) and partially mediating influence of organisational support on the relationship between intrapreneurial strategies and the performance of public universities in Kenya, was observed. The study concluded that organisational support mediates the relationship between intrapreneurial strategies and the performance of public universities in Kenya. Therefore, the study recommends that public university vice-chancellors create an enabling environment for the adoption of intrapreneurial strategies.
| 12 |
Author(s):
Ifekanandu Chukwudi Christian (Ph.D.), Ihuoma Chukwudi Ifekanandu.
Page No : 193-212
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Frugal Innovation Strategies and Supply Chain Performance of Food and Beverage Firms in South-South Nigeria
Abstract
This study explored frugal innovation strategies and supply chain performance of food and beverage firms in South-South Nigeria. It critically analyzed the dimensions of frugal innovation strategies (value innovation, cost cutting advancement and technological innovation) and relate them to supply chain performance measures (product availability, on-time delivery and supply chain flexibility) of food and beverage firms. The study applied the positivist research philosophy and correlational research design. The population of this study comprised 82 registered food and beverage firms in South-South Nigeria. The sample size consisted of 68 food and beverage firms in South-South Nigeria. The Taro Yamene’s formula was used to determine the sample size for the study. The sampling unit consisted of managers of the selected food and beverage firms in South-South Nigeria. A structured questionnaire was used for data collection in this study. The data collected were analyzed statistically while the Pearson Product Moment Correlation Coefficient (PPMCC) was used to test the formulated hypotheses. The SPSS software program version 24 was used to correlate the data collected on the study variables. The findings revealed that value innovation has a significant relationship with product availability, on-time delivery and supply chain flexibility of food and beverage firms. This study also revealed that cost cutting advancement has significant relationship with product availability, on-time delivery and supply chain flexibility of food and beverage firms. The study equally revealed that technological innovation has a significant relationship with product availability, on-time delivery and supply chain flexibility of food and beverage firms. Based on these findings, it was concluded that frugal innovation strategies such as value innovation, cost cutting advancement and technological innovation are significant predictors of supply chain performance of food and beverage firms in South-South Nigeria. Based on the findings and conclusion, it was recommended that food and beverage firms in South-South Nigeria should adopt frugal innovation strategies as it would improve their supply chain performance.
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Author(s):
Nwagwu Chinedu John.
Page No : 213-228
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Impact of Foreign Aids on Poverty in Nigeria (1992 – 2023).
Abstract
Aids for citizens of a country like Nigeria cannot be overlooked. People require financial and other forms of assistance to be able to meet their basic needs. Conversely, the significance of all the assistances received from foreign bodies on households and nonprofit institutions in Nigeria is not clear. The study examined Net Official Development Assistance and Official Aid Received (NAID) and its effect Households and NPISHs Final Consumption Expenditure (HNFC). The study used time series, relying on secondary data. It used Augmented Dickey Fuller (ADF) as unit root test. It further tested the long run relationship among the variables via Johansen co- integration test. Simple regression model equation was adopted for the work. The study revealed that NAID have a significant effect on HNFC. The study concluded that NAID are the predictors and determinants for NAID in Nigeria. The study recommends that more foreign aids be encouraged in Nigeria.
| 14 |
Author(s):
Kenneth Murimi Bidan, Maria Wambui Mung’ara (Ph.D.).
Page No : 229-243
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Evaluation of Growth Strategies on the Organizational Performance of Retail Stores – A Case Study of Quick Mart Supermarket Stores In Nairobi, Kenya
Abstract
The purpose of the study was to evaluate the impact of growth strategies on the organizational performance of retail stores in Nairobi with Quick Mart supermarket stores in Nairobi as the case study. The question guiding this research was: How does technology adoption strategy impact the organizational performance of Quick Mart supermarket stores in Nairobi County? The blue ocean strategy theory provided support for this investigation. A descriptive research strategy was used. The target population for this study was 125 managers who work at Quick Mart. A purposive sampling procedure was used to obtain a sample size of 95. This study used both descriptive and correlational analysis as its research design. Data was gathered using structured questionnaires. The data gathered was analyzed through descriptive analysis and presented in tables. The findings indicated a Pearson correlation of 0.841 for technology adoption and the regression analysis indicated a beta coefficient of 0.620 for technology adoption. The study concluded that technology adoption had a highly positive significant impact on organizational performance. The study suggested that to improve organizational performance, growth tactics should be adopted more widely.
| 15 |
Author(s):
Praygod Wilfred Chao, Thereza Israel Mugobi (Ph.D.).
Page No : 244-258
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Tax Incentive Mediates Foreign Direct Investment Determinants and Hotel Performance in Arusha Tanzania.
Abstract
This study seeks to explain the mediation effect of tax incentives on the relationship between ownership advantage (OWA), location advantage (LA), and internationalization (INT) factors determining Foreign direct investment (FDI) on hotel performance (HP). The study proposes the mediation model of tax incentives and FDI toward hotel performance in the Arusha region, of Tanzania. The proposed order of the model is that foreign direct investment depends on OWA, LA, and INT which may become applicable through tax incentives and tax incentives may further predict hotel performance. The measurement scale was borrowed from different studies and responded Includes hotel owners, managers, executive officers, and employees. Data were collected from August 2022 to February 2023; whereby 257 filled questionnaires were gathered and 236 were usable for further analysis. Final questionnaires were analyzed using SPSS and Structural Equation Modeling (SEM). The findings support that tax incentive fully mediates the relationship between ownership advantage and FDI toward hotel performance and partially mediates location advantage and internationalization on FDI investments toward hotel performance. The paper strengthens theoretical arguments by indicating the mediation effect of tax incentives on the relationship between the determinant of FDI, OWA, LA, INT, ICT, and hotel performance. Thus, this study adds to the literature as it has confirmed the eclectic paradigm theory.
| 16 |
Author(s):
Habu Bah-yaye Adamu (Ph.D.).
Page No : 259-268
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The Positive Impact of Social Responsibility (SR) Strategy on the Performance of SMSEs and Entrepreneurs in the North East Region of Nigeria.
Abstract
This study, empirical assessment of the effects of social responsibility (SR) strategy on the performance of SMSE’s and possible improvement on entrepreneurs in the north east region of Nigeria was undertaken and found that social responsibility has made an impact on the operation, economic growth and survival of SMSE’s sub-sector in Yobe State of Nigeria. The study was built in SMSE’s sector of the region, the “Thermo Fisher’s 4i Values” (Integrity, Intensity, Innovation and Involvement) it made up the sector in questions a great interaction with customers, suppliers and partners, communities and each other. These four values are foundational to our SR approach (Thermo Fisher scientific, 2020). Incognizance of the importance of SMSE, this study has expanded the body of knowledge in respect to social responsibility of small and micro enterprises. Specifically, the study worked out means in which SMSE sector be encouraged profitably. Only few of SMSE’s do participate and recognized the activities of SR. The study also recognized that financial institutions like banks, individual financer and government are attracted to few SMSE that participated in SR (Basariya, Al Kake, 2019). The study realized that “Social Responsibility (SR) has become a fundamental way of defining the role of business in society” (Itziar & Josep, 2011). Other prominent writers in this context believe that, the needs of current and future generations cannot be met unless there is respect for natural systems and international standards protecting core social and environmental values. It is increasingly recognized the critical role of business sector. As a part of society, it is in business’ interest to contribute to addressing common problems. Strategically speaking, the study has captured that business can only flourish when the communities and ecosystems in which they operate are healthy (Marylyn, Caroline & Sheena, 2011., Judy & Victoria, 2011., Cameron, 2011., Tobias & Frank, 2011., Min-Dong, 2011, &Babafemi, 2015).
