17 Questions
What is the main focus of the course on Small and Medium Scale Enterprises (SMEs)?
Understanding the global business environment
Why are Small and Medium Scale Enterprises (SMEs) important to business students?
They contribute significantly to economic development
What role do SMEs play in developing economies?
Contribute to economic development
In which types of countries do SMEs contribute significantly to economic development?
Both developed and developing countries
What is the significance of SMEs according to empirical statistics?
They play a vital role in developing key sectors of economies
What percentage of the total revenue in the UK did SMEs contribute to in 2016?
60%
Which country had SMEs contribute 80% to employment generation?
Nigeria
What was the total value of exports by US SMEs in 2007?
$306.76 Billion
In which country were SMEs recorded to have contributed approximately 70% to total employments generated in 2016?
UK
What is one of the major contributions of SMEs mentioned in the text?
Employment generation
What is the approximate percentage of GDP that SMEs contribute to in Ghana?
60%
How many formal Micro-Enterprises are estimated to be part of the approximately 365-445 Million MSMEs in emerging economies?
55-70 Million
What aspect is used by most international organisations to define or identify an SME?
The company's annual turnover
Why is there no universally acceptable definition for MSMEs according to OECD?
Quantitative measures such as size are relative to the context of a domestic economy
Which organisations cited in the text are involved in using categorisations to define or identify an SME?
All of the above
What is the estimated number of total MSMEs in emerging economies?
365-445 Million
What does the text indicate about the formal SMEs among the estimated MSMEs in emerging economies?
25-30 Million are formal SMEs
Explore the course on Small and Medium Scale Enterprises (SMEs) offered by the University of Lagos Faculty of Business Administration. Learn about the introduction, importance, and in-depth understanding of SMEs in the global business landscape.
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