SMEs wealth creation model: A conceptual framework

Article


Asikhia, O.U. and Jansen van Rensburg, M. 2015. SMEs wealth creation model: A conceptual framework. African Journal of Hospitality, Tourism and Leisure. 4 (1), pp. 1-19.
TypeArticle
TitleSMEs wealth creation model: A conceptual framework
AuthorsAsikhia, O.U. and Jansen van Rensburg, M.
Abstract

Given the high failure rate of small and medium enterprises (SMEs) globally, this study aimed to identify domains of SME wealth creation. The study used a developmental configuration approach with a derived mathematical model, which are powerful tools for building and relating detailed models consisting of several variables and domains, illustrating complicated and inter-related relationships between several variables. The basis for the developmental configuration applied in the present study was an in-depth review of academic literature on wealth creation. The paper concludes with the presentation of a theoretical conceptual model of wealth creation. The six major domains included in this model are human resources, technology, innovation and creativity, unit cost economies, organizational infrastructure and strategy. The new conceptual model provides an entirely new premise for viewing wealth creation at the firm level, particularly for SMEs. The study also provides different indicators for the identified domains.

JournalAfrican Journal of Hospitality, Tourism and Leisure
ISSN
Electronic2223-814X
Publication dates
OnlineJan 2015
Publication process dates
Deposited31 May 2024
Output statusPublished
Additional information

VOLUME 4(1) January-June 2015

Web address (URL)http://www.ajhtl.com/uploads/7/1/6/3/7163688/article44vol4(1)2015_(2).pdf
Related Output
Is part ofhttps://www.ajhtl.com/2004-2015.html
LanguageEnglish
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