Identifying and Prioritizing the Critical Factors for Success of SME Entrepreneurs: A study in Odisha

Authors

  • Sarita Mishra, Puspalata Mohapatra, Suryakanta Panda

Abstract

Growth of SME units in every industry significantly depends upon a range of critical factors. These factors are vital for these entrepreneurial units. This study intends to categorize and prioritize the key factors which are significant for their success with a special reference to Odisha, a state of India. This study came with the result that technical expertise of the SME entrepreneur gets more emphasis in the current scenario. It used multi-criteria decision making concept to priorities the criteria. As per the result of this study the ‘in use’ criteria are more relevant for success of an enterprise compared to perceived criteria. This study finds that ‘Technology Expertise skill’ is the most crucial component leading to success of a SME unit with consistency Index of 0.00757. Under the heading ‘Technological Expertise Skill’ there are four sub factors. This study confirms that ‘Idea generation and innovation’ a sub factor under ‘Technological Expertise Skill’ is on the highest position both local and global ranking of all sub criteria. This result is more pertinent to current set-up of SME success. The result of this study is consistent with the practical evidence on entrepreneurial success. The technological expertise skill makes the business competent enough for future survival.

Downloads

Published

2020-05-18

Issue

Section

Articles