Effects of Globalization on the Small and Medium Enterprises (SMEs) in the Manufacturing Sector in Zambia: A Case of Sperior Milling Company Ltd., Sobi Industries Ltd., Bimbe Trading Company Ltd., Dulux Zambia, Phillips Specialized Systems Ltd., Tiger Ani
1 Department of Business Studies and Humanities, Rockview University, Lusaka, Zambia.
2 Department of Humanities and Social Sciences Education, Rockview University, Lusaka, Zambia.
Research Article
World Journal of Advanced Research and Reviews, 2023, 20(01), 690-700
Publication history:
Received on 06 September 2023; revised on 14 October 2023; accepted on 16 October 2023
Abstract:
Observations that have been made on the impact of globalization on certain sectors of Zambia’s economy have attracted the attention of various researchers on the subject of globalization. This study centered on the effects of globalization on the manufacturing sector in Zambia. The was carried out on the seven Small and Medium Enterprises (SMEs) and the Zambia Development Agency (ZDA). The study employed both qualitative and quantitative methods to sample respondents. The research used both primary and secondary data. Primary data was obtained using closed–ended questionnaires while secondary data was collected using the Internet, journals, and, textbooks. Secondary data was obtained from various sources such as government publications, technical and trade journals, public records, diaries, letters, biographies, or work. Also, this study adopted a case study design that used multiple sources of evidence to analyze and evaluate specific phenomena or instance. Frequency tables, graphs, figures and pie-charts were used to analyze the qualitative and quantitative data. Data was also analyzed by the use of software; Statistical Package for Social Sciences (version 26) and Microsoft Excel (version 16). The study revealed that due to the use of improved technology in the manufacturing sector, globalization has enabled the SMEs to develop sufficient, reliable and modern infrastructure. This has contributed to increased production. The findings also indicated that there has been improved accessibility by SMEs to formal funding or finances. Quality of goods produced by SMEs has been enhanced as competitive indicators and quality assurance. The study therefore recommended that appropriate strategies, such as developing networking relationships with other firms, must be carefully designed and implemented in order to take advantage of global market opportunities and minimize the challenges from increasing competitive intensity. Furthermore, there is need for SMEs to embrace technology to streamline processes, increase efficiency, stay competitive, and consider e-commerce platforms for online sales if relevant to your industry.
Keywords:
Globalization; Manufacturing Sector; Production; Small and Medium Enterprises (SMEs) and Technology.
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Copyright © 2023 Author(s) retain the copyright of this article. This article is published under the terms of the Creative Commons Attribution Liscense 4.0