Management of Small-Medium Scale Enterprises - BUS 313
17 Questions
0 Views

Choose a study mode

Play Quiz
Study Flashcards
Spaced Repetition
Chat to lesson

Podcast

Play an AI-generated podcast conversation about this lesson

Questions and Answers

What percentage of the UK's total revenue did SMEs contribute in 2016?

  • 47% (correct)
  • 80%
  • 70%
  • 60%
  • Approximately how many jobs do SMEs create yearly in India?

  • 2 million jobs
  • 1 million jobs
  • 1.3 million jobs (correct)
  • 500,000 jobs
  • What percentage of Ghana's employed labor force do SMEs contribute to?

  • 60% (correct)
  • 50%
  • 40%
  • 70%
  • In which year did US SMEs export goods worth $306.76 billion?

    <p>2007</p> Signup and view all the answers

    What was the percentage of GDP contributed by SMEs in Nigeria according to SMEDAN/NBS (2013)?

    <p>45%</p> Signup and view all the answers

    What is one of the major contributions of SMEs as mentioned in the text?

    <p>Contributing to nonfarm job creation</p> Signup and view all the answers

    What is the main focus of the course on Small and Medium Scale Enterprises (SMEs)?

    <p>Studying the role of SMEs in business environments</p> Signup and view all the answers

    Why are Small and Medium Scale Enterprises (SMEs) particularly important to business students?

    <p>Because they are the most prevalent form of business organizations worldwide</p> Signup and view all the answers

    Which statement best reflects the significance of SMEs in economic development?

    <p>SMEs contribute significantly to the economic development of countries</p> Signup and view all the answers

    In which countries do SMEs have a notable impact according to empirical statistics?

    <p>Both developed and developing countries</p> Signup and view all the answers

    What role do SMEs play in the business landscape?

    <p>Significantly contribute to various economies</p> Signup and view all the answers

    What is the estimated number of formal SMEs in emerging economies according to Oshinowo?

    <p>Between 25-30 million</p> Signup and view all the answers

    How are most international trade or economic-related organizations defining or identifying an SME?

    <p>By considering the company's annual turnover</p> Signup and view all the answers

    According to the Organisation for Economic Co-operation and Development (OECD), how are MSMEs usually defined?

    <p>Dependent on each country's legislation</p> Signup and view all the answers

    What is one of the challenges highlighted regarding the categorization and definition of SMEs across countries and academic literature?

    <p>Inconsistencies in size measurement</p> Signup and view all the answers

    How does the OECD view the quantification of SME size?

    <p>As a relative measure depending on the domestic economy's context</p> Signup and view all the answers

    What criteria do international organizations and countries like Nigeria use to define or identify an SME?

    <p>Balance sheet size</p> Signup and view all the answers

    More Like This

    Use Quizgecko on...
    Browser
    Browser