Open Access Original Research Article

Product Innovation and SMEs Performance in the Manufacturing Sector of Ghana

Abraham Osei, Shao Yunfei, William Ansah Appienti, Solomon Kwarteng Forkuoh

Journal of Economics, Management and Trade, Page 1-14
DOI: 10.9734/BJEMT/2016/29906

Small and Medium Enterprises (SMEs) are the growth engines for economic development of both developed and developing countries in the areas of job creation, contribution to Gross Domestic Product (GDP), poverty alleviation, and innovation of business ideas. As a result of this, several efforts have been made towards the improvement of their performance. Previous studies based in most advanced countries have established that in today’s globalized and competitive environment, companies focusing on innovation achieve not only competitiveness, but are also able to sustain them for a longer period of time for higher performance. The aim of the study is to establish the contribution of product innovation to the performance and growth of SMEs in Ghana. Using firm level data and the structural equation model, product innovation was grouped into three (Development of new product, Introduction of new product and Improvement of existing product), whiles performance indicators were the growth in number of employees and total sales of the firm. The results indicated a positive growth path between all the three variables and the firm’s performance with the introduction of new products having the highest, indicating that, firms can improve their performance by adopting product innovative practices with much concentration on the introduction of new products.

 

Open Access Original Research Article

Using AHP Method Exploring the Key Factors of Choosing to Buy Luxury Products in Flagship Stores with Experiential Marketing

Chien- Hui Yang, Ya- Chen Hsu, Chen- Yu Chen

Journal of Economics, Management and Trade, Page 1-12
DOI: 10.9734/BJEMT/2016/29650

Aims: This study investigated the key factors of choosing to buy luxury products in luxury flagship stores based on the concept of experiential marketing.

Study Design:  Survey design was used and the questionnaires were distributed to the consumers who had shopped bought luxury products in luxury flagship stores. A total of 30 questionnaires were distributed to the target audience and were all completed and returned.

Place and Duration of Study: Survey design was conveniently sampled in Taiwan, starting from March 2015 to July 2015.

Methodology: This study, based on the concept of experiential marketing, used Analytic Hierarchy Process (AHP) and Strategic Experiential Modules (SEMs) to explore the key factors of shopping in luxury retailers' flagship stores.

Results: Based on the results of the study, the criteria have been ranked according to the following priorities: relate experience, sense experience, act experience, feel experience, and think experience. Furthermore, the best five sub-criteria are “reminder of social regulation and classification,’’ “attract my senses,” “think about actions and matters of behaviors,” “provide utilizable actions,” and “feel interesting.”

Conclusion: Since the luxury industry has become a highly competitive market, it is relatively very important to know the demands of the consumers precisely and predict the requirements and the trends of the market. The study concluded that the “relate experience” is the main factor of choosing to buy luxury products in flagship stores. It is because owning boutique packages can reflect the owner’s social status. Luxury companies can create personal interaction with other consumers and sense of fulfillment in order to enhance the value of their products, their brands or their companies. The results of this study can provide the luxury enterprises to develop marketing strategy.

 

Open Access Original Research Article

Determinants of Balanced Scorecard Adoption: A Review of Perspectives

Martha Evi Oghuvwu, A. S. Omoye

Journal of Economics, Management and Trade, Page 1-11
DOI: 10.9734/BJEMT/2016/29290

The main focus of this study was to examine the determinants of the adoption of balanced scorecard as a performance measure using the library based methodology which relies extensively on the review of relevant literature. From the survey of empirical literature, it can be inferred that the adoption of the balanced scorecard in developing countries is still at an embryonic stage. Based on the contingency theory, the study identifies that the adoption of balanced scorecard as a choice of performance measurement could be dependent on firm size, attitudinal factors, top management support, organisation culture and environmental factors. In conclusion, based on the extant literature reviewed it appears that the differential adoption of the balanced scorecard may be linked to a variety of factors. This link can be subjected to empirical validation in further studies.

 

Open Access Original Research Article

The Effect of Safety Culture on Safety Performance: Intermediary Role of Job Satisfaction

Dilaver Tengilimoglu, Elif Celik, Alper Guzel

Journal of Economics, Management and Trade, Page 1-12
DOI: 10.9734/BJEMT/2016/29975

Aims: Development of safety culture at work environments which has emerged as an important solution in the field of occupational health and safety is important for minimizing the number of occupational accidents and diseases. The main purpose of this research is to determine the relationship between safety culture, safety performance and job satisfaction and propose a model showing how safety culture increases safety performance via the mediation of job satisfaction, and to determine whether occupational accidents are caused by unsafe practices or unsafe work environments.

Study Design: The research was designed as a cross-sectional field study. Survey technic was used as the data collection method and the survey consists of 73 questions.

Place and Duration of Study: A mining enterprise operating in the city of Kutahya, Turkey in January 2014

Methodology: Convenience sampling method was used and the data was collected face to face from the employees who volunteered to participate in the research. The collected data was analyzed via SPSS Statistics 22 and AMOS 20 program was used in order to determine the relations between safety culture, safety performance and job satisfaction. The values for which P=.05 has been accepted as statistically significant.

Results: A total of 358 employees constitute the research sample. More than half (52%) of the employees perceive unsafe worker practices as the most common reason of occupational accidents. Also, significant relationships were found between safety culture, safety performance and job satisfaction. These results point out that human factor has the most important role in the prevention of occupational accidents. Accordingly, businesses and employers should establish and disseminate safety culture in their organizations.

 

Open Access Original Research Article

Intellectual Property Rights and Innovation: Implications for Added Value Creation in Africa

Laurent Oloukoï, Modeste Senou

Journal of Economics, Management and Trade, Page 1-8
DOI: 10.9734/BJEMT/2016/28053

This paper analyses mainly the type of relation existing between intellectual property rights (IPR), innovation and added value in six (06) countries of Africa namely Benin, Côte d’Ivoire, Senegal, Kenya, South Africa and Tunisia. The Auto Regressive Distributed Lag (ARDL) approach is used. The main results stemming from analyses reveal, among others, that is the effect of IPR on added value and growth remainder ambiguous ; ii) The IPR encourage investment and innovation which causes added value creation ; iv) The use of innovation and the possibility to imitate the innovation constitute the source of added value creation, economic growth and development. The paper recommends at last that it is very important to direct economic policies toward IPR promotion, the development of innovations, the use and imitation of innovations.

 

Open Access Original Research Article

Poultry Farms Risk Management by Insurance: Evidence from Ghana

Cosmos Adjei, D. P. K. Amagashie, H. Anim-Somuah, Boahen Atta Oppong

Journal of Economics, Management and Trade, Page 1-8
DOI: 10.9734/BJEMT/2016/26636

This study assessed poultry farmers’ decision to pay for poultry insurance in the Dormaa Municipality of Ghana, from a random sample of 100 commercial chicken producers. The paper employed the Contingent Valuation and Tobit models. The results showed that 72% of farmers are willing to pay GHS 31.00 or 3.10% on average of the chicken value of GHS 1000.00 ($263.52) to insure. Poultry farmers with multiple income sources tend to substitute insurance for other forms of occupation. The study found risk influence producers decision to insure because they have moderate frequency and impact.  Prior experience with insurance, severity of disease serve as incentives for insurance and age serve as disincentive for agricultural insurance which require capacity building programmes to strengthen farmers demand for insurance whilst insurers take advantage of this potential market to sell viable insurance products.            

 

Open Access Short Research Articles

Attractiveness and Location: Attesting Attractiveness of Locations by Business Service Final Decision Implementation vis-à-vis to Location Factors

Leisa Moreno

Journal of Economics, Management and Trade, Page 1-13
DOI: 10.9734/BJEMT/2016/24491

The objective of this paper is to attain a consensus about location attractiveness attested and possibly measured by business service performance after implementation final decision at a host market. After combining theories of location, agglomeration phenomenon, “tertiarization” and strategies of location follows suggestive econometric treatments of variables keen to attest attractiveness. The focus is dragged on the coefficient interpretation on the cause/effect relationship under cross section analysis conditions. Positive and significant results using French data base mostly related to service sector for 2013 as fiscal. An audacious attempt to quantify what remains as qualitative characteristic indeed. Further work is needed to validate reliability to the knowledge of Attractiveness at once to finally be more than just subjectively measured.

 

Open Access Review Article

Energy Market Integration and Trade Liberalization

Jasmeet Kaur, Madhubanti Dutta

Journal of Economics, Management and Trade, Page 1-12
DOI: 10.9734/BJEMT/2016/28506

Energy Market Integration (EMI) has been a goal for many regions, including East Asia, for quite a long time. This study treats trade and income as endogenous and estimates the overall impact of trade openness on environmental quality using the instrumental pricing variable technique for ASEAN economies. We find the impact is large in the long term, after the dynamic adjustment process, although it is small in the short term. Economic integration and trade liberalization in ASEAN had a sustained economic growth over the last several decades. Asia has become the world’s most vibrant region. It maintained an impressive growth rate. Access to large markets allowed Asian countries to utilize their economies of scale on the one hand, and stimulate growth in their productive sectors on the other. With the rise of Asia, it is time for these countries to assist and become an integrated market of their own. Thus, energy is at the center of all issues due to its importance for domestic and international economy and environment. Certain countries that lag behind in energy market integration need to learn from either their past experiences or from other nations and focus their efforts on their relatively weak dimensions. A simple correlation has been used to see the relation between Trade, GDP Growth and other determinants; the results of which shows that there is a Moderate degree of Negative Correlation between trade and GDP growth, a high degree of positive correlation between trade & CO2 emissions and a high degree of positive correlation between GDP growth & CO2 emissions.