Exploring Factors Affecting Retail Business Success And Failure In Irbid: Societal, Market, Supplier, Operational, Demographic
Keywords:
Retail Businesses, Success and Failure, Societal Influences, Market Adaptability, Resource-Based Theory.
Abstract
This qualitative study investigates the factors influencing the success and failure of retail micro-enterprises in Irbid, Jordan, through the lenses of Resource-Based Theory (RBT) and Open Innovation Theory (OIT). It focuses on five key areas: societal influences, market adaptability, supplier relationships, operational strategies, and demographic dynamics. The study employs an interpretive approach, grounded in the philosophical foundations of relativist ontology and constructivist epistemology, to capture the intricate and nuanced perspectives of micro-entrepreneurs in Irbid. In-depth semi-structured interviews with 18 entrepreneurs, selected through purposive sampling, provided rich, detailed insights into their experiences and perceptions. The data were analyzed using NVivo 14 software, facilitating thematic analysis and identifying underlying patterns and themes relevant to the research questions. The findings reveal the critical impact of societal norms and gender dynamics, the importance of strategic internal resource management, and the necessity of adaptable market strategies. Robust supplier relationships and effective operational strategies were identified as key to enhancing business resilience, while demographic factors such as age, gender, and education significantly influenced business outcomes. Despite limitations, such as potential biases in self-reported data and the context-specific nature of the findings, the study contributes to existing knowledge by highlighting the need for targeted support programs and strategic collaborations. Recommendations for future research include adopting interdisciplinary approaches to further explore the determinants of micro-enterprise success and failure in diverse contexts. The study's methodology allowed for a comprehensive qualitative analysis, offering valuable insights for policymakers, business support organizations, and entrepreneurs, ultimately contributing to the broader economic development of the region.
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Published
2024-09-14
How to Cite
Mohd Anuar Arshad, & Mohammad Khaled Azzam. (2024). Exploring Factors Affecting Retail Business Success And Failure In Irbid: Societal, Market, Supplier, Operational, Demographic. Revista Electronica De Veterinaria, 25(1S), 880-894. https://doi.org/10.69980/redvet.v25i1S.904
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