10000 words for main content of dissertation, 1000 words for appendix e.g. interview/survey script.
Please see the full research proposal as attached.
Guidelines
Your dissertation should contain a minimum of 10,000 words and a maximum of 12,000 words, not including the title page, table of contents, list of tables, list of figures, appendices and reference list. Note that the references in the main body of the text (i.e., in-text citations) are included in the word limit. There is no 10% leeway for dissertations over 12,000 words.
Research Proposal
1. Title (30 words)
The Impact of Entrepreneurial Strategies on Local Economic Development: A Comparative Study of Small and Medium Enterprises (SMEs) in Hong Kong’s Technology and Service Sectors
2. Research problem and overview of relevant academic literature
Research problem (70 words):
This study aims to investigate how entrepreneurial strategies employed by SMEs in Hong Kong’s technology and service sectors contribute to local economic development. It seeks to understand the challenges faced by these SMEs, the strategies they use to overcome them, and the role of government policies in supporting their growth and innovation. The research will explore how these factors collectively impact Hong Kong’s economic landscape.
Overview of key themes from academic literature (900 words):
Entrepreneurship and Economic Development:
The relationship between entrepreneurship and economic development has been extensively studied in academic literature. Wong et al. (2005) argue that entrepreneurship is a key driver of innovation and economic growth, particularly in knowledge-based economies. Their research, based on Global Entrepreneurship Monitor (GEM) data, suggests that high-growth potential entrepreneurship has a significant positive effect on economic growth. This finding is particularly relevant for Hong Kong, given its status as a knowledge-based economy.
In the context of Hong Kong, Au et al. (2013) explore the role of family businesses in fostering entrepreneurship. They highlight the importance of intergenerational entrepreneurship in sustaining economic growth and innovation. This perspective is crucial for understanding the entrepreneurial landscape in Hong Kong, where family businesses play a significant role in the SME sector.
SMEs and Local Economic Development:
SMEs are widely recognized as vital contributors to local economic development. In Hong Kong, SMEs constitute 98% of business establishments and employ about 45% of the workforce in the private sector (Hong Kong Trade and Industry Department, 2023). This statistic underscores the importance of SMEs in Hong Kong’s economic fabric.
The importance of strategic capabilities in SMEs has been highlighted by Ng and Kee (2018), who found that core competencies such as leadership, management skills, and strategic planning capabilities are crucial for SME success and their contribution to local economic development. Their research in the Asian context demonstrates that these internal capabilities significantly influence SMEs’ ability to create sustainable competitive advantages.
Challenges Faced by SMEs:
Lam and Harker (2015) provide insights into how entrepreneurs navigate challenges through their marketing and strategic decisions. Their research reveals that successful SME owners integrate marketing and entrepreneurial activities in response to market challenges, particularly in resource-constrained environments.
Tam and Gray (2016) emphasize the importance of organizational learning and development in SMEs’ lifecycle stages. Their research suggests that SMEs face different challenges at various growth stages, and their ability to learn and adapt is crucial for survival and growth.
Entrepreneurial Strategies for Growth and Innovation:
Lee et al. (2016) demonstrate how SMEs can achieve competitive advantage through effective knowledge management practices. Their research shows that knowledge acquisition, sharing, and application are critical for innovation and performance improvement in SMEs, particularly in technology-intensive sectors.
Cheng and Shiu (2019) explore how SMEs can enhance their market position through digital engagement and customer involvement. Their study reveals that social CRM strategies are particularly effective for SMEs in building customer relationships and driving innovation, especially in the service sector.
Government Policies and Support:
The role of government policies in supporting entrepreneurship and SME development is a critical theme in the literature. Initiatives like the Innovation and Technology Fund have had positive impacts, there is room for improvement in areas such as regulatory flexibility and support for early-stage startups.
Comparing Hong Kong’s SME support policies with those of other Asian economies, while Hong Kong provides substantial financial support, it lags in areas such as mentorship programs and international market access support. This research highlights potential areas for policy improvement to enhance the impact of SMEs on local economic development.
Intersection of Themes:
The literature reveals complex relationships between entrepreneurial capabilities (Ng and Kee, 2018), knowledge management (Lee et al., 2016), and customer engagement strategies (Cheng and Shiu, 2019) in driving SME success. While organizational learning and development play crucial roles in different lifecycle stages (Tam and Gray, 2016), the integration of marketing and entrepreneurial approaches remains fundamental to SME growth (Lam and Harker, 2015).
This research aims to build on these existing themes by providing a comprehensive analysis of how entrepreneurial strategies employed by SMEs in Hong Kong’s technology and service sectors contribute to local economic development. By examining the challenges faced, strategies employed, and the role of government policies, this study seeks to offer insights that can inform both policy-making and entrepreneurial practices in Hong Kong.
3. Research objectives (300 words)
Based on the research problem and literature review, the following research objectives have been formulated:
1. To analyze the contribution of SMEs in the technology and service sectors to Hong Kong’s local economic development.
This objective aims to quantify and qualify the economic impact of these SMEs, examining factors such as job creation, innovation output, and contribution to GDP. It will provide a foundation for understanding the significance of these sectors in Hong Kong’s economy.
2. To identify and examine the key challenges faced by SMEs in Hong Kong’s technology and service sectors.
This objective focuses on understanding the obstacles that hinder SME growth and development. It will explore issues such as access to finance, talent acquisition and retention, regulatory hurdles, and market competition.
3. To investigate and evaluate the entrepreneurial strategies employed by successful SMEs in overcoming challenges and fostering growth and innovation.
This objective aims to uncover the successful practices and strategies that enable SMEs to thrive despite challenges. It will examine areas such as innovation management, digital transformation, market positioning, and organizational adaptability.
4. To assess the effectiveness of current government policies in supporting entrepreneurial activities and local economic development in Hong Kong.
This objective seeks to critically evaluate existing government initiatives and their impact on SME growth and innovation. It will also aim to identify potential gaps in policy support and areas for improvement.
5. To develop recommendations for enhancing the impact of SMEs on local economic development in Hong Kong.
Based on the findings from the previous objectives, this final objective aims to synthesize insights and propose actionable recommendations. These may include suggestions for policy reforms, strategies for SMEs, and initiatives to foster a more supportive entrepreneurial ecosystem in Hong Kong.
4. Research strategy and methods (including access)
Outline and justify your research strategy (400 words)
This research will employ a mixed-methods approach, combining qualitative and quantitative methodologies to achieve a comprehensive understanding of the research problem. The primary research strategy will be a multiple case study design, supplemented by a survey.
The multiple case study approach is particularly suitable for this research as it allows for an in-depth exploration of SMEs in Hong Kong’s technology and service sectors (Yin, 2018). This strategy will enable a rich, contextual understanding of the entrepreneurial strategies employed by these SMEs and their impact on local economic development. By selecting multiple cases, the research can identify patterns across different SMEs while also acknowledging the unique contexts of each case (Eisenhardt and Graebner, 2007).
The case studies will focus on 8-10 SMEs, equally divided between the technology and service sectors. This number of cases should provide sufficient data for cross-case analysis while remaining manageable within the research timeframe (Creswell and Poth, 2018). The selection of cases will be based on criteria such as company size, years of operation, and demonstrated growth or innovation, to ensure a diverse and representative sample.
To complement the case studies, a survey will be conducted among a broader sample of SMEs in Hong Kong’s technology and service sectors. This quantitative component will provide a wider perspective on the challenges faced by SMEs and the strategies they employ. It will also allow for statistical analysis to identify trends and correlations that may not be apparent in the case studies alone (Bryman and Bell, 2015).
The mixed-methods approach offers several advantages for this research:
1. Triangulation: By using multiple data sources and methods, the research can enhance the validity and reliability of findings (Patton, 2015).
2. Complementarity: The qualitative case studies will provide depth and context, while the quantitative survey will offer breadth and generalizability (Johnson et al., 2007).
3. Development: Insights from the case studies can inform the design of the survey questionnaire, ensuring its relevance and comprehensiveness (Creswell and Plano Clark, 2017).
4. Expansion: The combination of qualitative and quantitative data will allow for a more comprehensive analysis of the complex relationships between entrepreneurial strategies, SME performance, and local economic development (Teddlie and Tashakkori, 2009).
This research strategy aligns with the research objectives by providing both detailed insights into individual SMEs’ experiences and broader trends across the sectors. It will enable a nuanced understanding of how entrepreneurial strategies impact local economic development in Hong Kong’s unique context.
Explain and justify how you will obtain your data (450 words)
Data collection for this research will involve both primary and secondary data sources, utilizing various techniques to ensure a comprehensive dataset that addresses the research objectives.
Primary Data Collection:
1. Case Study Interviews:
Semi-structured interviews will be conducted with founders, CEOs, or senior managers of the selected SMEs. These interviews will be the primary source of qualitative data for the case studies. The semi-structured format allows for flexibility to explore emerging themes while ensuring consistency across interviews (Galletta, 2013). Each interview will last approximately 60-90 minutes and will be recorded and transcribed with the participant’s consent. The interview guide will cover topics such as company history, challenges faced, strategies employed, and perceptions of government support.
2. Survey:
An online survey will be distributed to a broader sample of SMEs in Hong Kong’s technology and service sectors. The survey will be designed using Qualtrics software and will include both closed and open-ended questions. Topics will cover challenges faced, strategies employed, perceptions of government support, and impact on local economic development. The target sample size is 200 SMEs, with an expected response rate of 20-25% based on similar studies in Hong Kong. The survey will be distributed through business associations, chambers of commerce, and professional networks to reach a diverse range of SMEs.
3. Observation:
Where possible, site visits to the case study SMEs will be conducted to observe their operations and work environment. This will provide contextual data to complement the interview findings (DeWalt and DeWalt, 2011).
Secondary Data Collection:
1. Company Documents:
Annual reports, financial statements, and other publicly available company documents from the case study SMEs will be analyzed to provide contextual information and verify interview data.
2. Government Reports and Statistics:
Data from the Hong Kong Trade and Industry Department, Census and Statistics Department, and other relevant government bodies will be used to understand the broader economic context and SME landscape in Hong Kong.
3. Academic Literature:
Continued review of academic journals, books, and conference proceedings will inform the theoretical framework and provide comparative data.
Access and Ethical Considerations:
Access to SMEs for case studies will be facilitated through personal and professional networks, as well as through introductions from business associations. Initial contact will be made via email, followed by phone calls to explain the research purpose and secure participation.
For the survey, access to a broader SME population will be gained through partnerships with business associations and chambers of commerce. These organizations will be approached to assist in distributing the survey to their members.
Ethical considerations will be addressed by providing clear information about the research purpose, ensuring informed consent, maintaining confidentiality, and offering participants the option to withdraw at any time. All data collection and storage will comply with data protection regulations and the university’s ethical guidelines.
This multi-faceted data collection approach will provide rich, diverse data to address the research objectives comprehensively. The combination of in-depth qualitative data from case studies and broader quantitative data from the survey will enable a nuanced understanding of the impact of entrepreneurial strategies on local economic development in Hong Kong.