The influence of supply chain and human competence on improving the efficiency of small businesses in countries with developing economies

Abstract

To increase finance performance any small company needs to improve its management in supply chain and human competence (response). The main aim of our work is aimed at identifying universal marketing audit tools that could help small businesses to increase efficiency and profitability. A sample of 144 small businesses through a survey were used for research. The study applied the SmartPls program for finding marketing audit tools. Our research showed that supply chain management and response (reaction to feedback from employees or customers) are main tools of marketing audit to help improve a small business. We found that marketing audit has a positive effect on both current market efficiency and current profitability. Results also show that, despite the direct benefits of marketing audit, many small companies in emerging markets do not adopt audit due to lack of marketing knowledge. This study can be a reference for owners of small businesses in emerging markets. We developed novel tools of marketing audit that could help small businesses. This paper is an original contribution to managerial knowledge.