Project Proposal Assignment: Impact of Recession on SMEs
A full project proposal that should contain: a statement of the problem, research aim and objectives, justification and potential output of the research, conceptual framework and research hypotheses, methodology and organisation of the study.
Assessment task 3 requires the preparation of a full project proposal that should contain the following components:
A detail statement of the problem that you would like to investigate.
Research aim, objectives and research questions: What are the potential research objectives and questions that can address the problem?
Justification and potential output of the research project: Why is your chosen project important both theoretically and practically? What are the potential outputs and outcomes of your research?
Conceptual framework: An analysis of the literature relevant to the research topic that will give you the conceptual basis for conducting this research.
Methodology: Based on the conceptual framework, research aim(s) and objectives, you need to provide a detail description of the data collection methods and tools, data sources and the methods/tools that you will use to analyse the data.
Organisation of the study, project budget and schedule: Write the names of the chapters/sections of your research report, and briefly discuss what you will write in those chapters/sections followed by a brief description of budget for conducting this study and project schedule i.e., Gantt Chart.
This is an individual research task. You are required to demonstrate your understanding of the relevant body of works to a real-life business research. We expect you to read and reflect on at least sixteen recent refereed journal articles on your topic supported by any other evidence or information that can help refine the problem of your research, formulate conceptual framework and the methods of data collection and analysis.
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Impact of Recession on SMEs
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Institutional Affiliation
Table of Contents
TOC \o "1-3" \h \z \u HYPERLINK \l "_Toc462601669" Introduction PAGEREF _Toc462601669 \h 3
HYPERLINK \l "_Toc462601670" Research Questions PAGEREF _Toc462601670 \h 3
HYPERLINK \l "_Toc462601671" Problem Statement PAGEREF _Toc462601671 \h 4
HYPERLINK \l "_Toc462601672" Research Aim and Objectives PAGEREF _Toc462601672 \h 5
HYPERLINK \l "_Toc462601673" Justification of the Project (Literature Review) PAGEREF _Toc462601673 \h 5
HYPERLINK \l "_Toc462601674" Potential Research Output PAGEREF _Toc462601674 \h 6
HYPERLINK \l "_Toc462601675" Conceptual Framework PAGEREF _Toc462601675 \h 8
HYPERLINK \l "_Toc462601676" Methodology PAGEREF _Toc462601676 \h 9
HYPERLINK \l "_Toc462601677" Organization of the Study: Williams-Sonoma, Inc PAGEREF _Toc462601677 \h 10
HYPERLINK \l "_Toc462601678" Project Budget And Budget Justification PAGEREF _Toc462601678 \h 10
HYPERLINK \l "_Toc462601679" References PAGEREF _Toc462601679 \h 13
HYPERLINK \l "_Toc462601680" Appendix PAGEREF _Toc462601680 \h 15
Impact of Recession on SMEs
Introduction
According to Roxana (2009), Global Financial Crisis (GFC) has consistently revealed profound effects on all the sectors in the economy since the year 2008. Substantial effects have been felt on the SMEs, as they have limited resources, inclusive of capital compared to large firms (Ng & Wright, 2013). During the recession, the demand falls and clients are prone to postpone payments. Sellers experience a less probability of selling on credit, while both investors and banks become more conservative during the global and domestic market shrink. SMEs experience weak economic structures as a result of inadequate financial resources. Owing to their small size, SMEs find it very challenging to diversify or downsize economic activities (Beck, Demirgüç-Kunt, & Martinez Peria, 2016). SMEs find it challenging to survive the hardships. The situation necessitates the examination of the means in which global financial crisis (GFC) affects medium and small businesses. The actions by the government are also of the essence in the study.
The growth and survival of SMEs are necessary for global economies. The growth of SMEs leads to the creation of employment opportunities and improves the regional and national well-being of the economy. In the United States, employees in SMEs accounts for 50% of private sector labor. The industry substantially contributes to the Gross Domestic Product (GDP) of the US. The government has often designed policy measures, with the intention of improving SMEs’ environment.
Research Questions
RQ1: What ways were the effects of the recession on SMEs and how severe were the outcomes? Clearly, the GFC had a substantial impact on SMEs’ markets and financing. How serious were the consequences? The project is deemed to detail the impact of SMEs and GFC.
RQ2: How do the governments respond to the SMEs’ needs? SMEs are crucial to economic success. Thus, the government should assist in understanding the financial cri...
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