EFFECT OF BUSINESS PROCESSES ON THE BUSINESS DYNAMICS OF SMEs EXPERIENCES OF POST-PANDEMIC ECONOMIC REACTIVATION

Authors

  • YESID ARIZA OSORIO American University Corporation, associate professor. La Guajira, Colombia.
  • MICHEL GRILLO QUINTERO

Keywords:

Business processes, SMEs, Economic Recovery, Business Dynamics, Innovation

Abstract

The objective of the research was to establish the relationship between business dynamics through the effectiveness of business processes and the management of innovation in these processes. To achieve this, information was gathered from 205 SMEs that participated in an economic recovery project in the Caribbean region of Colombia. A questionnaire was used to measure the effectiveness of business processes, evaluating the practices of the functional areas of the organizations and the innovation applied in these processes. Through multiple regression analysis, the impact of innovation in business processes on the organizational dynamics of SMEs was examined. The results highlight the importance of key aspects: a thorough analysis of the business environment enhances market adaptation and business dynamics. Solid strategic design and process innovation are essential for success and competitiveness. Adequate employee remuneration positively impacts their motivation and performance, benefiting business dynamics. Effective product promotion is crucial for attracting customers and increasing revenues. Additionally, policies on collections and payments and a fair distribution of profits influence the financial position and growth of the company.

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Published

2024-07-28

How to Cite

ARIZA OSORIO , Y., & GRILLO QUINTERO , M. (2024). EFFECT OF BUSINESS PROCESSES ON THE BUSINESS DYNAMICS OF SMEs EXPERIENCES OF POST-PANDEMIC ECONOMIC REACTIVATION. Key People, 8(2), 9–31. Retrieved from http://revistas.ulatina.edu.pa/index.php/genteclave/article/view/360

Issue

Vol. 8 No. 2 (2024): KEY PEOPLE

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Copyright (c) 2024 YESID ARIZA OSORIO , MICHEL GRILLO QUINTERO

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