IDEAS home Printed from https://ideas.repec.org/a/ibn/ijbmjn/v12y2017i6p151.html
   My bibliography  Save this article

A Review of Critical Success Factors Which Drives the Performance of Micro, Small and Medium Enterprises

Author

Listed:
  • Isaac Mabhungu
  • Breggie Van Der Poll

Abstract

The survival of Micro, Small and Medium Enterprises (MSMEs) depends on their ability to effectively manage the factors that affect their performance. The study identifies through literature review, the various factors that may be critical to the success of MSMEs in the retail sector, and therefore enhance their survival. Identification of Critical Success Factors (CSFs) is important in that it may bring to the attention of MSMEs those CSFs which need to be focused on in order to operate in a profitable and sustainable manner. Owner/manager commitment, employee commitment, business planning, innovation, management of costs, customers, suppliers, information, revenue, competitors, sources of finance, enterprise’s pool of resources and conformance to regulations were identified as some of the CSFs which influence the success and survival of MSMEs. The study is informed and guided by the stakeholder theory. The research lays a foundation for future study on performance measurement framework for MSMEs in the retail sector.

Suggested Citation

  • Isaac Mabhungu & Breggie Van Der Poll, 2017. "A Review of Critical Success Factors Which Drives the Performance of Micro, Small and Medium Enterprises," International Journal of Business and Management, Canadian Center of Science and Education, vol. 12(6), pages 151-151, May.
    • Handle: RePEc:ibn:ijbmjn:v:12:y:2017:i:6:p:151
    as

    Download full text from publisher

    File URL: http://www.ccsenet.org/journal/index.php/ijbm/article/download/64169/37080
    Download Restriction: no
    File URL: http://www.ccsenet.org/journal/index.php/ijbm/article/view/64169
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Andrew Wild, 2010. "Learning the wrong lessons from history: Underestimating strategic change in business turnarounds," Business History, Taylor & Francis Journals, vol. 52(4), pages 617-650.
    2. Minna Saunila, 2016. "Performance measurement approach for innovation capability in SMEs," International Journal of Productivity and Performance Management, Emerald Group Publishing Limited, vol. 65(2), pages 162-176, February.
    3. Nicholas Collett & Naresh R. Pandit & Jukka Saarikko, 2014. "Success and failure in turnaround attempts. An analysis of SMEs within the Finnish Restructuring of Enterprises Act," Entrepreneurship & Regional Development, Taylor & Francis Journals, vol. 26(1-2), pages 123-141, April.
    4. Feindt, Sylvie & Jeffcoate, Judith & Chappell, Caroline, 2002. "Identifying Success Factors for Rapid Growth in SME E-commerce," Small Business Economics, Springer, vol. 19(1), pages 51-62, August.
    5. Edelman, Linda F. & Brush, Candida G. & Manolova, Tatiana, 2005. "Co-alignment in the resource-performance relationship: strategy as mediator," Journal of Business Venturing, Elsevier, vol. 20(3), pages 359-383, May.
    6. Matthew Tucker & Michael Pitt, 2009. "Customer performance measurement in facilities management," International Journal of Productivity and Performance Management, Emerald Group Publishing Limited, vol. 58(5), pages 407-422, June.
    7. Davidsson, Per, 1991. "Continued entrepreneurship: Ability, need, and opportunity as determinants of small firm growth," Journal of Business Venturing, Elsevier, vol. 6(6), pages 405-429, November.
    8. Coles, Jeffrey L. & Daniel, Naveen D. & Naveen, Lalitha, 2008. "Boards: Does one size fit all," Journal of Financial Economics, Elsevier, vol. 87(2), pages 329-356, February.
    9. Helena Forsman & Serdal Temel, 2011. "Innovation And Business Performance In Small Enterprises: An Enterprise-Level Analysis," International Journal of Innovation Management (ijim), World Scientific Publishing Co. Pte. Ltd., vol. 15(03), pages 641-665.
    10. James Foreman-Peck & Gerry Makepeace & Brian Morgan, 2006. "Growth and profitability of small and medium-sized enterprises: Some Welsh evidence," Regional Studies, Taylor & Francis Journals, vol. 40(4), pages 307-319.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Unger, Jens M. & Rauch, Andreas & Frese, Michael & Rosenbusch, Nina, 2011. "Human capital and entrepreneurial success: A meta-analytical review," Journal of Business Venturing, Elsevier, vol. 26(3), pages 341-358, May.
    2. Luis Javier Garcia-Martinez & Sascha Kraus & Matthias Breier & Andreas Kallmuenzer, 2023. "Untangling the relationship between small and medium-sized enterprises and growth: a review of extant literature," International Entrepreneurship and Management Journal, Springer, vol. 19(2), pages 455-479, June.
    3. Juan R. Ferrer & Mar�a Carmen Garc�a-Cortijo & Vicente Pinilla & Juan Sebasti�n Castillo-Valero & Ra�l Serrano, 2022. "Business growth and sustainability in the spanish wine industry," Documentos de Trabajo dt2022-03, Facultad de Ciencias Económicas y Empresariales, Universidad de Zaragoza.
    4. Vasilii Erokhin & Dmitry Endovitsky & Alexey Bobryshev & Natalia Kulagina & Anna Ivolga, 2019. "Management Accounting Change as a Sustainable Economic Development Strategy during Pre-Recession and Recession Periods: Evidence from Russia," Sustainability, MDPI, vol. 11(11), pages 1-23, June.
    5. Shaikh, Ibrahim A. & O'Brien, Jonathan Paul & Peters, Lois, 2018. "Inside directors and the underinvestment of financial slack towards R&D-intensity in high-technology firms," Journal of Business Research, Elsevier, vol. 82(C), pages 192-201.
    6. Messele Kumilachew Aga, 2023. "The mediating role of perceived behavioral control in the relationship between entrepreneurship education and entrepreneurial intentions of university students in Ethiopia," Journal of Innovation and Entrepreneurship, Springer, vol. 12(1), pages 1-18, December.
    7. M. Kamil Kozan & Levent Akdeniz, 2014. "Role of Strong versus Weak Networks in Small Business Growth in an Emerging Economy," Administrative Sciences, MDPI, vol. 4(1), pages 1-16, February.
    8. Aidis, Ruta & van Praag, Mirjam, 2007. "Illegal entrepreneurship experience: Does it make a difference for business performance and motivation?," Journal of Business Venturing, Elsevier, vol. 22(2), pages 283-310, March.
    9. Adi Masli & Matthew G. Sherwood & Rajendra P. Srivastava, 2018. "Attributes and Structure of an Effective Board of Directors: A Theoretical Investigation," Abacus, Accounting Foundation, University of Sydney, vol. 54(4), pages 485-523, December.
    10. Kuang, Yu Flora & Qin, Bo, 2009. "Performance-vested stock options and interest alignment," The British Accounting Review, Elsevier, vol. 41(1), pages 46-61.
    11. Charlie Weir & Oleksandr Talavera & Alexander Muravyev, 2011. "The Return on Human Capital: the Case of UK Non-executive Directors that are also Executive Directors," University of East Anglia Applied and Financial Economics Working Paper Series 029, School of Economics, University of East Anglia, Norwich, UK..
    12. Carlos Bazan, 2022. "Effect of the University’s Environment and Support System on Subjective Social Norms as Precursor of the Entrepreneurial Intention of Students," SAGE Open, , vol. 12(4), pages 21582440221, October.
    13. Lanfeng Kao & Min-Hsien Chiang & Anlin Chen, 2024. "To mitigate the effect of underwriter bargaining power on IPO pricing through audit committee under an economy of little information asymmetry," Review of Quantitative Finance and Accounting, Springer, vol. 63(1), pages 147-167, July.
    14. Vu Quang Trinh & Neelu Seetaram & Kiet Tuan Duong & Xuan Vinh Vo, 2023. "Collusive behaviour, risk and performance of tourism firms," Tourism Economics, , vol. 29(8), pages 2103-2128, December.
    15. Dragos Ilie, 2015. "Credits and Bank Guarantee Letters in Entrepreneurship Development During Crisis," The AMFITEATRU ECONOMIC journal, Academy of Economic Studies - Bucharest, Romania, vol. 17(38), pages 212-212, February.
    16. Marco Allegrini & Giulio Greco, 2013. "Corporate boards, audit committees and voluntary disclosure: evidence from Italian Listed Companies," Journal of Management & Governance, Springer;Accademia Italiana di Economia Aziendale (AIDEA), vol. 17(1), pages 187-216, February.
    17. Laura Baselga-Pascual & Antonio Trujillo-Ponce & Emilia Vähämaa & Sami Vähämaa, 2018. "Ethical Reputation of Financial Institutions: Do Board Characteristics Matter?," Journal of Business Ethics, Springer, vol. 148(3), pages 489-510, March.
    18. Md. Borhan Uddin Bhuiyan & Solomon Opare & Zahir Ahmed, 2024. "Does Audit Committee Busyness Affect Financial Restatement? Evidence from Audit Committee Share Ownership," Australian Accounting Review, CPA Australia, vol. 34(1), pages 29-54, March.
    19. Rimon Emile & Aiman Ragab & Sandy Kyaw, 2014. "The Effect of Corporate Governance on Firm Performance, Evidence from Egypt," Asian Economic and Financial Review, Asian Economic and Social Society, vol. 4(12), pages 1865-1877, December.
    20. Rüdiger Fahlenbrach & Angie Low & René M. Stulz, 2010. "The Dark Side of Outside Directors: Do they Quit When They are Most Needed?," Swiss Finance Institute Research Paper Series 10-17, Swiss Finance Institute.

    More about this item

    JEL classification:

    • R00 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General - - - General
    • Z0 - Other Special Topics - - General

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:ibn:ijbmjn:v:12:y:2017:i:6:p:151. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Canadian Center of Science and Education (email available below). General contact details of provider: https://edirc.repec.org/data/cepflch.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.