Challenges of change facing entrepreneurs and Kuwaiti SMEs

This research paper addresses a clear question: what are the critical factors that policy makers and entrepreneurs need to be aware of when operating in transitional economies in order to sustain SMEs? The SME sector is critically important to Kuwait’s transformation to a broad-based economy: one th...

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Autores principales:	Nouf Al Bazie, Ashley Braganza
Formato:	article
Lenguaje:	EN
Publicado:	Taylor & Francis Group 2020
Materias:	smes entrepreneurship small business owners sustainability enterprise policy change management kuwait Business HF5001-6182 Management. Industrial management HD28-70
Acceso en línea:	https://doaj.org/article/c4ef2c83cf634ff18b25bae264aa1294
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spelling	oai:doaj.org-article:c4ef2c83cf634ff18b25bae264aa12942021-12-02T14:41:55ZChallenges of change facing entrepreneurs and Kuwaiti SMEs2331-197510.1080/23311975.2020.1853997https://doaj.org/article/c4ef2c83cf634ff18b25bae264aa12942020-01-01T00:00:00Zhttp://dx.doi.org/10.1080/23311975.2020.1853997https://doaj.org/toc/2331-1975This research paper addresses a clear question: what are the critical factors that policy makers and entrepreneurs need to be aware of when operating in transitional economies in order to sustain SMEs? The SME sector is critically important to Kuwait’s transformation to a broad-based economy: one that is not reliant on oil alone. We studied Kuwaiti SMEs to identify criteria for change to survive in the nascent market. Our aim is to discuss these criteria in order to focus the attention of entrepreneurs and policy leaders. Policy makers should facilitate effective responses to change by SMEs; however, SMEs must address the challenges via effective change management. This process can be enhanced by policy makers promoting awareness of the factors discussed in this paper. Data was collected via interviews and a focus group with Kuwaiti entrepreneurs and policy makers. The data was analysed using qualitative methods to provide a rich picture of the criteria. We found seven factors that need to change in the Kuwaiti SME context. Our analysis yielded surprising results, such as SME CEOs’ lack commitment to their own business, and a lack of trust between entrepreneurs and their staff. Data collection was limited to the Kuwaiti SME sector.Nouf Al BazieAshley BraganzaTaylor & Francis Grouparticlesmesentrepreneurshipsmall business ownerssustainabilityenterprise policychange managementkuwaitBusinessHF5001-6182Management. Industrial managementHD28-70ENCogent Business & Management, Vol 7, Iss 1 (2020)
institution	DOAJ
collection	DOAJ
language	EN
topic	smes entrepreneurship small business owners sustainability enterprise policy change management kuwait Business HF5001-6182 Management. Industrial management HD28-70
spellingShingle	smes entrepreneurship small business owners sustainability enterprise policy change management kuwait Business HF5001-6182 Management. Industrial management HD28-70 Nouf Al Bazie Ashley Braganza Challenges of change facing entrepreneurs and Kuwaiti SMEs
description	This research paper addresses a clear question: what are the critical factors that policy makers and entrepreneurs need to be aware of when operating in transitional economies in order to sustain SMEs? The SME sector is critically important to Kuwait’s transformation to a broad-based economy: one that is not reliant on oil alone. We studied Kuwaiti SMEs to identify criteria for change to survive in the nascent market. Our aim is to discuss these criteria in order to focus the attention of entrepreneurs and policy leaders. Policy makers should facilitate effective responses to change by SMEs; however, SMEs must address the challenges via effective change management. This process can be enhanced by policy makers promoting awareness of the factors discussed in this paper. Data was collected via interviews and a focus group with Kuwaiti entrepreneurs and policy makers. The data was analysed using qualitative methods to provide a rich picture of the criteria. We found seven factors that need to change in the Kuwaiti SME context. Our analysis yielded surprising results, such as SME CEOs’ lack commitment to their own business, and a lack of trust between entrepreneurs and their staff. Data collection was limited to the Kuwaiti SME sector.
format	article
author	Nouf Al Bazie Ashley Braganza
author_facet	Nouf Al Bazie Ashley Braganza
author_sort	Nouf Al Bazie
title	Challenges of change facing entrepreneurs and Kuwaiti SMEs
title_short	Challenges of change facing entrepreneurs and Kuwaiti SMEs
title_full	Challenges of change facing entrepreneurs and Kuwaiti SMEs
title_fullStr	Challenges of change facing entrepreneurs and Kuwaiti SMEs
title_full_unstemmed	Challenges of change facing entrepreneurs and Kuwaiti SMEs
title_sort	challenges of change facing entrepreneurs and kuwaiti smes
publisher	Taylor & Francis Group
publishDate	2020
url	https://doaj.org/article/c4ef2c83cf634ff18b25bae264aa1294
work_keys_str_mv	AT noufalbazie challengesofchangefacingentrepreneursandkuwaitismes AT ashleybraganza challengesofchangefacingentrepreneursandkuwaitismes
_version_	1718389834978951168

Challenges of change facing entrepreneurs and Kuwaiti SMEs

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