Volume :4 Issue :4 Year : 2014

• INDUSTRY ENVIRONMENTAL FACTORS AND THE MARKETING ORIENTATION PRACTICES OF NIGERIAN SMALL BUSINESS ENTERPRISES: A Factor Analytic Assessment
  ►Adekunle Abiodun IDRIS
  
   10.52283/NSWRCA.AJBMR.20140404A01
  
  ABSTRACT
  The study investigated the effects of industry environmental factors on the marketing practices of small business enterprises in Lagos, Nigeria. The study sets out to consider the importance of the dimensions of industry environments on SBEs marketing practices and to ascertain the degree of association between the two, if any. Using a survey design and quota sampling, structured questionnaire was used to obtain data from 545 entrepreneurs and senior marketing personnel. These were analyzed using factor analysis, ANOVA and other tools in the predictive analysis software (version 19.0). The findings shows that market turbulence and buyer power were the most influencing industry factors. The study also found a significant and positive relationship between industry factors and marketing practices of the surveyed SBEs. The paper proposed a model to explain the influence of industry factors on marketing practices of SBEs. It further makes some recommendations for marketing practitioners and suggestions for further studies
  Keywords:  Industry environment, Marketing practices, Marketing orientation, Small business enterprises, Factor analysis, Nigeria

  Pages:01-17         .   View Article
  

• FORMAL CONTRACTUAL AGREEMENTS: AN EXPLORATORY ASSESSMENT OF TRANSACTION COST THEORY FROM EMERGING MARKETS PERSPECTIVE
  ►Emmanuel Chao and Mushumbusi Paul Kato
  
   10.52283/NSWRCA.AJBMR.20140404A02
  
  ABSTRACT
  This study aimed at exploring how formal contractual agreements are predicted by Transaction Cost Analysis (TCA) theory using firms from emerging markets. The setting of this study was Tanzania. Dependent variable was formal contractual agreement, while performance ambiguity and buyer asset specificity were used as key predictor variables. The study was conducted through surveying, which included small, large and medium enterprises. N = 150 firms involved and all of them were engaging in to business-business relations (buyer-seller relations). The response rate was about 65%. Data analysis used ordinary least square regression analysis. This study found out that asset specificity still had strong determination on formal contractual agreement. Performance ambiguity itself found not to have significant positive effect on formal contractual agreement but its effect was dependent on asset specificity i.e. the interaction between asset specificity and performance ambiguity influence positively on formal contractual agreement. These findings do not contradict with other empirical studies from developed economies. This suggests the possibility for extending TCA theoretical predictions to firms in emerging markets, especially at this time when there is growing need for outsourcing in these markets. Again this has to take into account other variables like nature of firm, institutional and cultural differences. Such variables have not been used in this exploratory study.
  Keywords: Formal contractual agreement, buyer asset specificity, and performance ambiguity and environmental uncertainty

  Pages:18-23         .   View Article