Provide a model for the success of investment in small and medium industries using Structural-Interpretive Modeling (ISM) Approach
Subject Areas :
Industrial Management
Hoseyn Vafaeibasir
1
,
Mansour Esmaeilpour
2
,
Masoumeh Ahmadishoja
3
,
Hossein Jafari
4
,
Mozhgan Akbari
5
1 - Department of management,, islamic azad university of hamedan
2 - Faculty Member of Computer Engineering, Hamedan Branch, Islamic Azad University, Hamedan, Iran
3 - Department of Management-Islamic Azad University of Hamedan-Hamedan-Iran
4 - Master of Accounting, Allameh Amini Bahnemir Institute of Higher Education, Babolsar
5 - Master of Business Administration, Payame Noor University of Hamadan
Received: 2021-09-20
Accepted : 2022-05-01
Published : 2022-04-21
Keywords:
small and medium industries,
Content Analysis,
Structural-Interpretive Modeling,
Success,
Abstract :
The aim of this study is to identify the factors and provide a pattern that can lead to successful investment in small and medium industries and show a way for industrial entrepreneurs to enter this important economic field with more awareness. This research is a qualitative research based on interviews with 15 industrial experts in the public and private sectors. After conducting interviews and initial coding using content analysis, out of 215 initial codes, 5 main categories of specific research Using the structural-interpretive modeling (ISM) approach, these categories were classified at different levels and the relationships between them were revealed. The results showed that 5 general groups of factors including: managerial factors, entrepreneur-related factors, production-related factors, market factors and environmental factors are involved in the success of small and medium industries, which according to the entrepreneur-related factors research model in the lowest Surface is in fact the cornerstone of the model and environmental factors play an intermediate role between the three levels of the model. This research will help small and medium industry managers to think of better measures to reduce investment risk and pave the way for growth. Industrial and increase employment in the country smoother.
References:
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Al-Tit, A., Omri, A., & Euchi, J. (2019). Critical success factors of small and medium-sized enterprises in Saudi Arabia: Insights from sustainability perspective. Administrative Sciences, 9(2), 32.
Baron, R. A. (2004). Psychological perspectives on entrepreneurship: cognitive and social factors in entrepreneurs' success. Current Directions in Psychological Science, 9(1), 15-18.
Benzing, C., Chu, H. M., & Kara, O. (2009). Entrepreneurs in Turkey: A factor analysis of motivations, success factors, and problems. Journal of small business management, 47(1), 58-91.
Berger, A. N., & Udell, G. F. (2006). A more complete conceptual framework for SME finance. Journal of Banking & Finance, 30(11), 2945-2966.
Bouazza, A. B., Ardjouman, D., & Abada, O. (2015). Establishing the factors affecting the growth of small and medium-sized enterprises in Algeria. American International journal of Social science, 4(2), 101-115.
Braun, V., Clarke, V. (2006). Using thematic analysis in psychology. Qualitative Research in Psychology, 3(2), 77-101.
Butterfield, L.D., Borgen, W.A., Amundson, N.E., & Maglio, A.T. (2005). Fifty years of the Critical Incident Technique: 1954–2004 and beyond. Qualitative Research, 5(4), 475–497.
Carneiro, V., da Rocha, A. B., Rangel, B., & Alves, J. L. (2021). Design Management and the SME Product Development Process: A Bibliometric Analysis and Review. She Ji: The Journal of Design, Economics, and Innovation, 7(2), 197-222.
Carter, R., & Auken, H. V. (2006). Small firm bankruptcy. Journal of Small Business Management, 44(4), 493-512.
Cassell, C., & Symon, G. (Eds.). (2004). Essential guide to qualitative methods in organizational research. sage.
Curran, J. & Blackburn, A. (2001). Researching the Small Enterprise. London: Sage, 69-99.
Danaeifard, H. (2008). Challenges of Public Management in Iran. Tehran: Samt Publications.
Fischer, M., Imgrund, F., Janiesch, C., & Winkelmann, A. (2020). Strategy archetypes for digital transformation: Defining meta objectives using business process management. Information & Management, 57(5), 103262.
Hayton, J. (2015). Leadership and Management Skills in SMEs. Warwick Business School: Department of Business, Industry and Skills, 180-198.
Koch, A., Strobel, A., Kici, G., & Westhoff, K. (2009). Quality of the Critical Incident Technique in practice: Interrater reliability and users' acceptance under real conditions. Psychology Science Quarterly, 51(1), 3.
Kusa, R., Duda, J., & Suder, M. (2021). Explaining SME performance with fsQCA: the role of entrepreneurial orientation, entrepreneur motivation, and opportunity perception. Journal of Innovation & Knowledge, 6(4), 234-245.
Lampadarios, E., Kyriakidou, N., & Smith, G. (2017). Towards a new framework for SMEs success: a literature review. International Journal of Business and Globalisation, 18(2), 194-232.
Marchetta, F. (2012). Return migration and the survival of entrepreneurial activities in Egypt. World Development, 40(10), 287-320.
Noorul Haq, A., & Kannan, G. (2007). A hybrid normalised multi criteria decision making for the vendor selection in a supply chain model. International Journal of Management and Decision Making, 8(5-6), 601-622.
Obaji, Nkem Okpa, Aslan Amat Senin, and Dele Olaolu. (2018). Factors associated with SMEs Success and The Triple Helix of Entrepreneurship. 10th Global Advances in Business Communication Conference, Malaysia.45-88.
Svetličič, M., Jaklič, A., & Burger, A. (2007). Internationalization of small and medium-size enterprises from selected central European economies. Eastern European Economics, 45(4), 36-65.
Trang, T. K. (2016). Key success factors of SME entrepreneurs: Empirical study in Vietnam. International Journal of Business and Management, 11(1), 136.
Van Praag, C. M. (2003). Business survival and success of young small business owners. Small business economics, 21(1), 1-17.
Zaridis, A. D., & Mousiolis, D. T. (2014). Entrepreneurship and SME's organizational structure. Elements of a successful business. Procedia-Social and Behavioral Sciences, 148, 463-467.
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Alasadi, R., & Abdelrahim, A.M. (2008). Analysis of small business performance in Syria. Education, Business and Society: Contemporary Middle Eastern Issues, 1, 50-62.
Al-Tit, A., Omri, A., & Euchi, J. (2019). Critical success factors of small and medium-sized enterprises in Saudi Arabia: Insights from sustainability perspective. Administrative Sciences, 9(2), 32.
Baron, R. A. (2004). Psychological perspectives on entrepreneurship: cognitive and social factors in entrepreneurs' success. Current Directions in Psychological Science, 9(1), 15-18.
Benzing, C., Chu, H. M., & Kara, O. (2009). Entrepreneurs in Turkey: A factor analysis of motivations, success factors, and problems. Journal of small business management, 47(1), 58-91.
Berger, A. N., & Udell, G. F. (2006). A more complete conceptual framework for SME finance. Journal of Banking & Finance, 30(11), 2945-2966.
Bouazza, A. B., Ardjouman, D., & Abada, O. (2015). Establishing the factors affecting the growth of small and medium-sized enterprises in Algeria. American International journal of Social science, 4(2), 101-115.
Braun, V., Clarke, V. (2006). Using thematic analysis in psychology. Qualitative Research in Psychology, 3(2), 77-101.
Butterfield, L.D., Borgen, W.A., Amundson, N.E., & Maglio, A.T. (2005). Fifty years of the Critical Incident Technique: 1954–2004 and beyond. Qualitative Research, 5(4), 475–497.
Carneiro, V., da Rocha, A. B., Rangel, B., & Alves, J. L. (2021). Design Management and the SME Product Development Process: A Bibliometric Analysis and Review. She Ji: The Journal of Design, Economics, and Innovation, 7(2), 197-222.
Carter, R., & Auken, H. V. (2006). Small firm bankruptcy. Journal of Small Business Management, 44(4), 493-512.
Cassell, C., & Symon, G. (Eds.). (2004). Essential guide to qualitative methods in organizational research. sage.
Curran, J. & Blackburn, A. (2001). Researching the Small Enterprise. London: Sage, 69-99.
Danaeifard, H. (2008). Challenges of Public Management in Iran. Tehran: Samt Publications.
Fischer, M., Imgrund, F., Janiesch, C., & Winkelmann, A. (2020). Strategy archetypes for digital transformation: Defining meta objectives using business process management. Information & Management, 57(5), 103262.
Hayton, J. (2015). Leadership and Management Skills in SMEs. Warwick Business School: Department of Business, Industry and Skills, 180-198.
Koch, A., Strobel, A., Kici, G., & Westhoff, K. (2009). Quality of the Critical Incident Technique in practice: Interrater reliability and users' acceptance under real conditions. Psychology Science Quarterly, 51(1), 3.
Kusa, R., Duda, J., & Suder, M. (2021). Explaining SME performance with fsQCA: the role of entrepreneurial orientation, entrepreneur motivation, and opportunity perception. Journal of Innovation & Knowledge, 6(4), 234-245.
Lampadarios, E., Kyriakidou, N., & Smith, G. (2017). Towards a new framework for SMEs success: a literature review. International Journal of Business and Globalisation, 18(2), 194-232.
Marchetta, F. (2012). Return migration and the survival of entrepreneurial activities in Egypt. World Development, 40(10), 287-320.
Noorul Haq, A., & Kannan, G. (2007). A hybrid normalised multi criteria decision making for the vendor selection in a supply chain model. International Journal of Management and Decision Making, 8(5-6), 601-622.
Obaji, Nkem Okpa, Aslan Amat Senin, and Dele Olaolu. (2018). Factors associated with SMEs Success and The Triple Helix of Entrepreneurship. 10th Global Advances in Business Communication Conference, Malaysia.45-88.
Svetličič, M., Jaklič, A., & Burger, A. (2007). Internationalization of small and medium-size enterprises from selected central European economies. Eastern European Economics, 45(4), 36-65.
Trang, T. K. (2016). Key success factors of SME entrepreneurs: Empirical study in Vietnam. International Journal of Business and Management, 11(1), 136.
Van Praag, C. M. (2003). Business survival and success of young small business owners. Small business economics, 21(1), 1-17.
Zaridis, A. D., & Mousiolis, D. T. (2014). Entrepreneurship and SME's organizational structure. Elements of a successful business. Procedia-Social and Behavioral Sciences, 148, 463-467.
