The preliminary presentation should include the following:
The title of the proposal, the problem, the significance, the literature review, and the scope of the study. The presentation should highlight the next steps of the proposal.
Preliminary
Presentation
Overview
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Research Topic
Introduction
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Introduction
• Coronavirus disease (COVID-19) is an infectious disease caused by the SARS-CoV-2
virus that attacks various organs and systems of the human body.
• This disease is an airborne disease therefore, it will spread very rapidly.
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Not only did this disease decline the human population it also declined the economy
drastically. With Covid-19 spreading so easily at an uncontrolled rate this caused
many businesses to be forced to shut down by the CDC (Centers for Disease Control
and Prevention). Through this time with businesses closing, people were unable to
pay their employees, maintain their work establishment and keep their employees
from being sick in this pandemic. With a lot of people losing their jobs some people
decide to take a huge risk and invest their money in a small business of their own.
Research Questions
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Scope of the Study
Scope of the Study
Literature
Review
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References
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Fairlie, R. (2020, August 27). The impact of COVID-19 on small business owners: Evidence from the first 3 months after
widespread social-distancing restrictions. Retrieved from NCBI: https://www.ncbi.nlm.nih.gov/pmc/articles/PMC7461311/
Holmes, J. (2018, July 16). The pros and cons of being an entrepreneur . Retrieved from QuickBooks:
https://quickbooks.intuit.com/au/resources/jobs-and-internships-for-students/the-pros-and-cons-of-being-anentrepreneur/
Ilukthenna, N. (2021, May 23). Economic and Social Benefits of Entrepreneurship. Retrieved from LinkedIn:
https://www.linkedin.com/pulse/economic-social-benefits-entrepreneurship-neranjan-ilukthenna/
Ketella, K. (2021, March 9). COVID Timeline. Retrieved from Yale Medicine: https:// www.yalemedicine.org/news/covidtimeline
Gap in Knowledge
Moving Forward
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(iv) John H. Kunkel’s theory.
Which is that individuals begin to start businesses to the
previous and present surroundings, social structures,
physical conditions and behavioral surroundings
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Impact of Globalization on Medium-to-Small Enterprises
Tobenna Onwumbiko
Dr. Carmella Lennon
Savannah State University
Intro To Business Research Section 03 Spring 2024 Co
25th March 2024
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Proposition Statement
The social and cultural impacts of globalisation on medium to small enterprises (MSEs) can be
explained through the help of five main propositions. MSEs will achieve higher levels of
employee engagement, creativity, and innovation if they prioritise diversity management and
workplace culture, thus having a competitive advantage in the global marketplace. Another key
point is that micro, small and medium enterprises (MSMEs) will penetrate markets more and
create customer satisfaction and brand loyalty in diverse cultural contexts the more they will
adapt their products, marketing strategies and customer experiences to reflect the local cultural
preferences and values. Social and environmental priorities and sustainability initiatives will be
part of the business model of MSEs, which will create a brand reputation, attract socially
conscious consumers, and provide long-term profitability and resilience in the global market.
Fifth is the shifting in the regulatory and policy environment, including the trade agreements and
the intellectual property regulations, which would affect the competitiveness, market
accessibility and ability to innovate and grow, meaning that active adaptation plans and advocacy
efforts are important. Conclusively, SMEs that invest in digital technologies, workforce training,
and strategic partnerships to overcome resource constraints and adjust to changes in the
marketplace will have a better chance of being competitive and resilient, as well as make use of
available emerging opportunities in the global economy. These propositions offer a perspective
on the business of MSEs that deals with such social, cultural, and regulatory complexities of
globalisation and the means of their incorporation into the world market as an engine of growth,
innovation, and sustainability.
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Theoretical Framework
The MSEs’ social and cultural influence on globalisation from the theoretical perspective is
based on several key sociology, economics, and management concepts. This model aims to
explain how globalisation directs MSE operation, workforce characteristics and dynamics, and
strategic and regulatory environments.
Innovation Diffusion Theory: The innovation diffusion theory considers the process of
spreading new ideas, technologies, and behaviours in and between societies within a certain
period. MSEs can use the innovation diffusion process to adopt, adapt, and improve their
respective businesses in the context of trends, emerging technologies, and best practices in their
industries. Through the experiences of the culture of innovation, experimentation, and
continuous learning, MSEs can keep up with the pace of change, create new disruptions in the
market, and search for new value propositions for clients on the global market.
Modernisation Theory: This theory proposes that technological innovation, economic growth,
and social change guide societies in the development steps. For micro and small enterprises,
modernisation theory proposes that globalisation is the impetus of global economic development
since it facilitates the dissemination of knowledge, technology, market integration, and culture
exchange, consequently leading to the restructuring of traditional industries and business
customs.
Resource Dependence Theory: This theory claims that organisations wholly depend on external
resources, namely capital, technology, and knowledge, to adapt and evolve. The resource
dependence perspective for MSEs states that access to global markets, networks, and
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partnerships is crucial to overcoming resource scarcity, enhancing competitiveness, and
capturing opportunities that a globalised economy provides.
Globalisation: Globalization is the interlinking or interdependence of economies, cultures, and
societies at a global level, which is possible due to technological development, transport
improvements, and communication advances. It includes import, export, capital, and idea flow
across national borders and involves trade, investment, and cultures.
Diversity Management: Diversity management incorporates practices aimed at fostering
diversity and inclusion in the workplace, recognising and utilising workers’ different
backgrounds, perspectives, and skills. MSEs with the capacity to manage diversity effectively
can benefit from multicultural workplaces, where workers’ creativity, innovation, and problemsolving skills will contribute to gaining a competitive advantage in international markets.
Cultural Adaptation: Cultural adaptation entails aligning the product, marketing strategy, and
customer interaction with those of the local market to be a good fit with the local cultural
attributes and values. MSEs that focus on cultural awareness in their strategies could achieve
higher customer satisfaction and retention, contributing to business expansion and sustainability
in the global cultural context.
Social Responsibility and Sustainability: Business actors’ moral, environmental, and social
aspects are now the pillars of their strategies. An MSE that gives back to society and the
environment by being socially sensitive and environmentally friendly can earn a good reputation,
may be selected by socially responsible consumers, and ultimately, succeed in the global market.
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Policy and Regulatory Environment: The policy and regulatory framework includes
government regulations, trade policies, intellectual property rights laws, and other rules and
regulations that establish the environment in which an MSE operates. Regulatory changes have
huge consequences for competitiveness, market access, and the ability to innovate and grow
MSMEs.
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References
Bai, C., Quayson, M., & Sarkis, J. (2021). COVID-19 pandemic digitization lessons for
sustainable development of micro- and small-enterprises. Sustainable production
and consumption, p. 27, 1989–2001.
Kondo, K., & Vicente, Â. J. B. (2023). The Coordination Imperative: A Comprehensive
Approach to Aligning Customer Demand and Inventory Management for Superior
Customer Experience in Retail (Doctoral Dissertation, Massachusetts Institute of
Technology).
Konfo, T. R. C., Djouhou, F. M. C., Hounhouigan, M. H., Dahouenon-Ahoussi, E.,
Avlessi, F., & Sohounhloue, C. K. D. (2023). Recent advances in the use of
digital technologies in agri-food processing: A short review. Applied Food
Research, 100329.
Mandal, B. P. (2021). Globalization and Society, KK Publications.
Saba, H. A. (2021). Influence of Microfinance Bank Services on the Performance of
Micro and Small Enterprises (Doctoral et al. University (Nigeria)).
Santeramo, F. G., & Lamonaca, E. (2022). Standards and regulatory cooperation in
regional trade agreements: What are the effects on trade? Applied Economic
Perspectives and Policy, 44(4), 1682–1701.
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Seoh, D., & Im, T. (2020). What drives national research and development performance?
Factors in competitive government financing of science and technology. Public
administration issues, 5, 191-215.
Setiawan, D., Adhariani, D., Harymawan, I., & Widodo, M. (2023). E-commerce and
micro- and small-industry performance: The role of firm size as a moderator.
Journal of Open Innovation: Technology, Market, and Complexity, 9(3), 100142.
Siregar, R., & Sudarmanto, E. (2023). Beyond Traditional Boundaries: Embracing Digital
Transformation for Enhanced Management Efficiency at Micro and Small
Business Enterprises West Science Interdisciplinary Studies, 1(06), 267–279.
Zimu, F. (2023). Exploring the Impact of Cultural Factors on Consumer Behavior in ECommerce: A Cross-Cultural Analysis. Journal of Digitainability, Realism, and
Mastery (DREAM), 2(03), 31–36.