University of Ghana http://ugspace.ug.edu.gh UNIVERSITY OF GHANA THE EFFECT OF OMNIBANK’S SME CLINIC ON BUSINESS MANAGEMENT CAPACITY AND KNOWLEDGE: THE CASE OF THE ACCRA METROPOLIS BY TURKSON JOSEPHINE APPIAWAAH (10337817) A LONG ESSAY SUBMITTED TO THE DEPARTMENT OF FINANCE, UNIVERSITY OF GHANA, IN PARTIAL FULFILMENT FOR THE AWARD OF A MASTER OF SCIENCE DEGREE IN DEVELOPMENT FINANCE JUNE 2019 University of Ghana http://ugspace.ug.edu.gh DECLARATION I herewith say that this study is the result of my own research and has not been presented to this or any other university for an academic award. All references used in the work have been fully recognized. I have exclusive liability for any weaknesses. ………………………………………....... .............…………………………… TURKSON JOSEPHINE APPIAWAH DATE 10337817 i University of Ghana http://ugspace.ug.edu.gh CERTIFICATION I hereby certify that this thesis was supervised in accordance with procedures laid down by the University. ……………………………………… ................…………………………… DR. LORD MENSAH DATE (SUPERVISOR) ii University of Ghana http://ugspace.ug.edu.gh DEDICATION I humbly dedicate this thesis to the Almighty God for His unending love and mercy. I also dedicate this thesis to my family and friends. iii University of Ghana http://ugspace.ug.edu.gh ACKNOWLEDGMENTS I am grateful to God throughout my life for His protection and guidance. I am always happy with his unmerited favor and love; in times of trouble, he never abandons me, bringing the right people to support me and to provide things that I need. Secondly, I am thankful to my supervisor, Dr. Lord Mensah for his guidance that has helped enrich this research valuable. You were an inspirational coach to me. I am deeply grateful to Mr Philip Mensah, Stephen Avornyo and Yaa Fosuwaa Gyamfi of OmniBSIC Bank, Accra, for their critical and insightful comments and for also sharing with me materials which were very useful for this study. In addition, I am grateful to my parents Mr. Matthew Turkson and Mrs. Victoria Turkson for their immense assistance towards my enrolment in the MSc programme at the University of Ghana Graduate Business School, and to my siblings- Matthew, Regina, Victoria and Leticia Turkson for providing one of my greatest needs for the enrolment of this programme. I will like to also show appreciation to Michael Awortwe, Bright Adjei, Efua Larbi and Emmanuel Andoh. May the good Lord bless you all for supporting me financially and spiritually since my admission at the University of Ghana. Similarly, my gratefulness goes to my colleagues namely; Solomon Buernortey Adi, Kwame Kyeremeh Barnieh, Nana Aba Anamoah, Richmond Darko Yeboah, Rhoda Lamptey, Freda Keteku, Doreen Aculey, Esther Asare-Bediako, Asikah Raymond, and Amoako Daniel. I say thank you, guys, for contributing to the achievement of this greatness. Lastly, I express my gratitude to Divine Allotey and Francis , the most cherished Teaching Assistants in the Department of Finance at the University of Ghana Graduate Business School, may the good Lord bless you dearly and also, to my very good friends- Delia Darko, Bridget Asante, Christiana Opare, Lotus Nyame, Lydia Owusu and Miranda Azar, thank you for always holding me down. I am grateful for the persistent love and encouragement, and to everyone whose name was not individually mentioned here. I say God richly bless you all for, I would not have achieved this success without your support and love. iv University of Ghana http://ugspace.ug.edu.gh TABLE OF CONTENTS DECLARATION ................................................................................................................................................ i CERTIFICATION .............................................................................................................................................. ii DEDICATION ................................................................................................................................................. iii ACKNOWLEDGMENTS .................................................................................................................................. iv TABLE OF CONTENTS ..................................................................................................................................... v ABSTRACT ..................................................................................................................................................... ix CHAPTER ONE ............................................................................................................................................... 1 INTRODUCTION ............................................................................................................................................. 1 1.1 Background to the Study ..................................................................................................................... 1 1.2 Statement of the Problem .................................................................................................................. 4 1.3 Aim and Objectives of the Study ......................................................................................................... 6 1.4 Research Questions ............................................................................................................................ 6 1.5 Significance of the Study ..................................................................................................................... 6 1.6 Scope of the Study .............................................................................................................................. 7 1.7 Organization of the Study ................................................................................................................... 7 CHAPTER TWO .............................................................................................................................................. 9 2.0 Introduction ........................................................................................................................................ 9 2.1 Conceptual Review of Literature ........................................................................................................ 9 2.1.1 Defining Related Terms ................................................................. Error! Bookmark not defined. 2.1.2 Importance of SMEs ................................................................................................................... 12 2.1.3 SMEs in Ghana ........................................................................................................................... 14 2.2 Theoretical Review of Literature ...................................................................................................... 15 2.2.1 Theory of Reinforcement ........................................................................................................... 16 2.2.2 Theory of Learning Types ........................................................................................................... 17 2.2.3 Theory of Experiential Learning ................................................................................................. 18 2.2.4 Theory of Social Learning ........................................................................................................... 19 2.3 Empirical Studies ............................................................................................................................... 20 2.4 Conceptual Framework ..................................................................................................................... 22 2.5 Conclusion ......................................................................................................................................... 24 CHAPTER THREE .......................................................................................................................................... 26 3.0 Introduction ...................................................................................................................................... 26 v University of Ghana http://ugspace.ug.edu.gh 3.1 Research Setting ............................................................................................................................... 26 3.2 Research Approach and Design ........................................................................................................ 26 3.3 Research Paradigm ........................................................................................................................... 28 3.4 Research Populations and Samples .................................................................................................. 29 3.5 Data Collection Instruments and Procedures ................................................................................... 31 3.6 Reliability and Validity ....................................................................................................................... 32 3.7 Data Analysis Techniques .................................................................................................................. 34 3.8 Ethical Considerations ....................................................................................................................... 35 3.9 Conclusion ......................................................................................................................................... 36 CHAPTER FOUR ........................................................................................................................................... 37 4.0 Introduction ...................................................................................................................................... 37 4.1 Results ............................................................................................................................................... 37 4.1.1 Questionnaire Retrieval Rate ..................................................................................................... 37 4.1.2 Demographic / Personal Information of Respondents .............................................................. 38 4.1.3 Firm Information ........................................................................................................................ 40 4.2 Main Results ...................................................................................................................................... 42 4.2.1 Objective One: Strengths and Weaknesses of OmniBank’s SME Clinic ..................................... 42 4.2.2 Objective Two: The Effects of SME Clinic on Business Management Capacity and Knowledge 46 4.3 Discussion of Findings ....................................................................................................................... 51 CHAPTER FIVE ............................................................................................................................................. 53 5.0 Introduction ...................................................................................................................................... 53 5.1 Summary of the Findings .................................................................................................................. 53 5.2 Conclusions ....................................................................................................................................... 54 5.3 Recommendations ............................................................................................................................ 55 5.4 Limitations ......................................................................................................................................... 56 5.5 Directions for Future Research ......................................................................................................... 57 REFERENCES ................................................................................................................................................ 59 APPENDIX .................................................................................................................................................... 63 Appendix A: Research Questionnaire ..................................................................................................... 63 vi University of Ghana http://ugspace.ug.edu.gh LIST OF TABLES Table 3. 1: Test-Retest Reliability Scores..................................................................................... 33 Table 3. 2 : Regression Variables ................................................................................................. 34 Table 4. 1 : Questionnaire Retrieval Rate ..................................................................................... 37 Table 4. 2: Gender Distribution of Respondents .......................................................................... 38 Table 4. 3: Age Distribution of Respondents................................................................................ 39 Table 4. 4: Educational Backgrounds of Respondents ................................................................. 39 Table 4. 5: Professional Positions of Respondents ....................................................................... 40 Table 4. 6: Industries / Sectors of Respondents ............................................................................ 41 Table 4. 7: Number of Years of Operation ................................................................................... 41 Table 4. 8: Strengths and Weaknesses of OmniBank’s SME Clinic ............................................ 43 Table 4. 9: Strengths of OmniBank’s SME Clinic Discovered During Interviews ...................... 46 Table 4. 10: Weaknesses of OmniBank’s SME Clinic Discovered During Interviews ................ 46 Table 4. 11: Business Management Capacity ............................................................................... 47 Table 4. 12: Business Management Knowledge ........................................................................... 48 Table 4. 13: Relationship between SME Clinic and Business Management Capacity ................. 49 Table 4. 14: Relationship between SME Clinic and Business Management Capacity ................. 50 vii University of Ghana http://ugspace.ug.edu.gh LIST OF FIGURES Figure 2. 1: Theory of Reinforcement .......................................................................................... 16 Figure 2. 2: Cognitive Model ........................................................................................................ 20 Figure 2. 3: Determinants of Training and Development Intensity Model................................... 21 Figure 2. 4: Conceptual Framework Diagram .............................................................................. 23 Figure 3. 1: Research Design Flowchart ....................................................................................... 28 viii University of Ghana http://ugspace.ug.edu.gh ABSTRACT The purpose of this research was to determine the extent to which OmniBank’s SME Clinic has had a positive effect on the business management capacity and knowledge of owners/managers of SMEs in Ghana, with focus on the Accra Metropolis. This was done primarily through: determining the strengths and weaknesses of OmniBank’s SME Clinic and investigating the effect of OmniBank’s SME Clinic on the business management capacity and knowledge of owners/managers of SMEs. Looking at the research methodology that was employed, for data collection purposes, questionnaires were administered to the owners and managers of 197 SMEs that participated in the SME clinic. Meanwhile, semi-structured interviews were conducted with the Managing Director, Corporate Affairs Manager, Head of Project and Performance, Team Lead, the junior staff of the Performance Department, and junior staff of the Corporate Affairs Department of OmniBank Ghana Limited. The study’s results indicated that the strengths of the SME Clinic were that: the personnel were very knowledgeable; presented both relevant and interesting information; used training methods that matched the participating companies’ requirements; it improved the knowledge and skills of the employees of participating companies, and it improved the productivity of participating companies. The weaknesses, on the other hand, were that it utilized too much theory; had a tendency to start too late; did not cover enough subjects; did not allocate enough time to its presentations, and did not go very deep into explanations. Furthermore, it was brought to light that the SME Clinic had improved the business management capacity of SMEs in the Accra Metropolis positively, but not significantly; and that it had both positively and significantly improved the business management knowledge of these same SMEs. ix University of Ghana http://ugspace.ug.edu.gh CHAPTER ONE INTRODUCTION 1.1 Background to the Study The term SME stands for the small and medium-sized enterprise. This is a term which attempts to identify firms which have a limited number of employees, financial turnover and/or balance sheet items (Magreth, 2012). SMEs remain an important tool for empowering citizens and also for economic growth; especially in developing countries such as Ghana. Apart from developing countries, it should also be noted that SMEs have also contributed to rapid economic growth in countries in Asia and North America (De la Torre, Peria & Schmukler, 2010). This, therefore, gives credence to Chittihaworn, Islam & Yusuf (2011, p. 183)’s claim that “SMEs play an important role in the economic growth and development of all countries; even the United States of America (USA).” It was further indicated that SMEs are a driving force behind many innovations, job creations, economic investments, and exports. In the African continent, SMEs constitute about 90% of all rural and urban businesses. In Sub-Saharan Africa, they are essential for the achievement of national development goals such as the alleviation of poverty and economic growth (Donkor, 2011). In Ghana, emphasis has been placed on the capacity of SMEs to create jobs, generate internal income, alleviate extreme poverty, halt the ongoing de-industrialization process, and curtail any further ethnic unrest associated with black economic prospects and social collapse. Many have even gone as far as to describe SMEs as the backbone of Ghana’s economic and social development for the last few decades (Akugri, Bagah & Wulifan, 2015). 1 University of Ghana http://ugspace.ug.edu.gh Currently, SMEs represent approximately 90% of all registered business in Ghana, contribute an estimated 70% to the country’s gross domestic product (GDP), and account for more than 80% of employment in the country (Akugri et al., 2015). According to Domeher, Musa and Poku (2017), this is appropriate because Ghana is a country with very high potential (with its abundant supply of enormous human and natural untapped resources), but equally, high inertia to develop. Therefore, SMEs are required to supplement the efforts of successive governments through increasing foreign direct investment (FDI), diversifying the economy, and initiating employment and entrepreneurship programmes. SMEs, however, are not without their challenges. In fact, the number one problem facing SMEs in Ghana today is access to credit (Donkor, 2011). In a study by Prempeh (2015), it was discovered that 60 percent of SMEs identified access to credit as their major constraint to expansion; with 69.1 percent of medium-sized firms, 45 percent of small enterprises, and 33.7 percent of microenterprises complaining about this. Access to credit is essential for the success of SMEs as it helps them to get their business projects off the ground, expand their operations, make the needed investments in technology, employ additional labour, increase productivity and improve both local and international competitiveness. However, as of late, there has been an inability of lenders such as banks, the government, and NGOs to trust SME business management and their ability to repay loans (Magreth, 2012). Another challenge facing SMEs has been their limited capacity to scale up poor corporate governance. The practice of corporate governance among SMEs in Ghana is currently very low. Over the years, it has been shown that well-governed companies have substantially better long- term financial results, grow faster and more sustainably, and can use good governance as a value 2 University of Ghana http://ugspace.ug.edu.gh proposition to attract investors. On the contrary, it has been shown that poor governance can lead to problems such as poor business performance, fraud and catastrophic failures (Domeher, Musa & Poku, 2017). Furthermore, the lack of management capacity has been another serious challenge facing SMEs. As a matter of fact, in many parts of the world (especially developing countries), very little has been done to develop the entrepreneurial and managerial capability of those who start businesses with little or no basic business management skills (Nkonoki, 2010). This is unfortunate, as according to Vanhaverbeke (2017), apart from access to finance or the availability of capital, the competitiveness of SMEs is also determined by the manner in which they manage their scarce financial, human and material resources, market complexities and changes, and handle environmental opportunities and threats. In other words, SMEs require the right knowledge and skills to manage their businesses in order to impact positively on their companies and the economy (Magreth, 2012). In order to address the modern-day shortcomings of SMEs, banks, financial institutions and other organizations have organized SME clinics to provide free training to business owners and managers on a regular basis; with training topics being based on the individual needs and popular requests of companies. Examples of some of the more prevalent topics being covered include human resource management, financial management, business development and marketing (Vanhaverbeke, 2017). OmniBank Ghana Limited is a Ghanaian owned bank with extensive and in-depth knowledge and understanding of the financial needs of Ghanaian businesses, families, and individuals. Its vision is to become the number one bank for SMEs and entrepreneurs in Ghana. In recent times, the bank 3 University of Ghana http://ugspace.ug.edu.gh has put together a free training programme for SMEs, business owners and the managers of various institutions on the best practices and solutions for managing various aspects of their businesses. This programme is known as the OmniBank SME Clinic. In doing so, it has made use of its own content, structure and training methodology (OmniBank, 2018). With regard to the methodology, OmniBank sends an invitation to most of the SMEs through its OmniBank Call Centre, with others being done via email and social media marketing. During the clinics, presentations are made to the members of these SMEs concerning the various subject matters such as Financial Management, Business Opportunities, Risk Management, Bookkeeping, Human Resource Management, Marketing and Sales Management, and other relevant business topics. These presentations come in the form of open seminars, modular training programmes, and mentorships (OmniBank Ghana Limited, 2018). 1.2 Statement of the Problem SMEs are those businesses whose turnovers, balance sheet items and personnel numbers fall below certain limits (Magreth, 2012). SMEs play a vital role in the economies of nations as they have the ability to create jobs, alleviate poverty, generate internal income, prompt investments in economies, increase the exports of nations, etc. In Ghana, it has been estimated that approximately 90% of all registered businesses are SMEs, they contribute approximately 70% to the nation’s GDP, and they account for over 80% of total employment (Akugri et al., 2015). It is because of this importance that many individuals, institutions and schools of thought have made the effort to improve upon the scanted growth of SMEs using different approaches and methodologies. This is in view of the major challenges that are facing SMEs in the country such as access to credit, their limited capacity to scale up poor corporate governance, and their lack of management capacity (Nkonoki, 2010; Domeher, Musa & Poku, 2017; Donkor, 2011). All these in totality are what 4 University of Ghana http://ugspace.ug.edu.gh prompted OmniBank Ghana Limited to set up the OmniBank SME Clinic to provide free training to SMEs, business owners and managers of companies on the best practices and solutions for managing various aspects of their businesses (OmniBank, 2018). Concerning previous studies on the subject matter, a study was conducted by Pansiri and Temtime (2008) to assess the managerial skills held by Botswanan SMEs for capacity building. Through the study, it was found that the perceived critical managerial factors (PCMF) affecting the performance of SMEs included managerial background, organizational development, human resource development, and managerial competency. Another study by Sulemana (2014) was conducted in order to determine the factors influencing the performance of small-scale entrepreneurs in the garment industry of the Tamale Metropolis of Ghana. According to the study’s findings, the performance was mostly affected by some specific entrepreneur characteristics such as gender and age; some dimensions of characteristics of enterprise such as size and location; and some dimensions of the external environment of firms such as market base and information access. A study by Ackah and Yuvor (2011) investigated the challenges faced by small and medium-sized enterprises (SMEs) in obtaining credit in Ghana. In the final analysis, the study revealed that the issues of collateral, a small equity base, high-interest rates, short repayment periods and the high rate of defaults in the repayment of loans contracted were the most significant challenges facing the SMEs in question. Of the studies that were found, none of these studies made any attempt to determine the effect of SME clinics on SME performance or potency. It is in light of the aforementioned that this study is being conducted in order to determine the extent to which OmniBank’s SME Clinic has had a positive effect on the business management capacity and knowledge of owners/managers of SMEs in Ghana. This is also based on OmniBank’s view 5 University of Ghana http://ugspace.ug.edu.gh that business management capacity and knowledge is the primary challenge facing SMEs in Ghana and has the power to resolve all of the other challenges (OmniBank, 2018). 1.3 Aim and Objectives of the Study The aim of this study is to determine the extent to which OmniBank’s SME Clinic has had a positive effect on the business management capacity and knowledge of owners/managers of SMEs in Ghana. In order to achieve this aim, the following objectives have been set:  To determine the strengths and weaknesses of OmniBank’s SME Clinic.  To investigate the effect of OmniBank’s SME Clinic on the business management capacity and knowledge of owners/managers of SMEs in the Accra Metropolis. 1.4 Research Questions  What are the strengths and weaknesses of OmniBank’s SME Clinic?  What has been the effect of OmniBank’s SME Clinic on the business management capacity and knowledge of owners/managers of SMEs in the Accra Metropolis? 1.5 Significance of the Study About significance, it is the view of the Researcher that this particular study will benefit society in a variety of ways. First of all, with respect to society in general, this study will provide citizens of Ghana and other countries with information pertaining to the strengths and weaknesses of OmniBank’s SME Clinic; and the effect of OmniBank’s SME Clinic on the business management capacity and knowledge of owners / managers of SMEs in the Accra Metropolis. With respect to academia, this study will not only add to the existing literature on the subject matter, but it will also serve as a reference to those researchers who desire to delve deeper into the research topic or 6 University of Ghana http://ugspace.ug.edu.gh explore other areas of the subject matter. The importance of this, according to Creswell (2013) is that the ultimate purpose of academic research is to seek truth and knowledge in order to enhance social development. Most importantly, this research will provide relevant knowledge to OmniBank Ghana Limited concerning the effectiveness of its SME Clinic in improving SMEs in terms of increasing the business management capacity and knowledge of their owners/managers. This information could also be important to SMEs who desire for such an improvement. 1.6 Scope of the Study This study deals with the effect of SME Clinics on the performance of SMEs. This study, however, will be limited to the following areas: the content, structure and training methodology of OmniBank’s SME Clinic; the strengths and weaknesses of OmniBank’s SME Clinic; and the effect of OmniBank’s SME Clinic on the business management capacity and knowledge of owners / managers of SMEs in the Accra Metropolis. This defines the scope of the study. 1.7 Organization of the Study This thesis will be organized into five separate chapters for which each will be independent, but all will be interrelated. Chapter one will provide an adequate introduction to the subject matter of the study and will include the background to the study, statement of the research problem, aim, and objectives of the study, research questions, significance of the study and scope of the study. Chapter two will review the conceptual, theoretical and empirical literature on the subject matter. This will be to determine the extent to which the subject matter has been covered in literature and research work. and to arrive at an adequate research gap. A conceptual framework will also be developed in order to guide this study. 7 University of Ghana http://ugspace.ug.edu.gh Chapter three will describe the way data was collected and analyzed for the purpose of this study. In doing so, it will include the research setting, research approach, and design, research population and sample, data collection instruments and procedures, methods for ensuring reliability and validity, data analysis techniques and ethical considerations. Chapter four will present the collected data, analyze this data, interpret it, and discuss the findings. Finally, chapter five will provide a summary of the findings, draw conclusions from those findings, provide study recommendations, describe the limitations of the study and provide directions for future research. 8 University of Ghana http://ugspace.ug.edu.gh CHAPTER TWO LITERATURE REVIEW 2.0 Introduction The purpose of this literature review chapter is to review, analyze and discuss literature which has been conducted on the effects of SME clinics on SME business management capacity and knowledge. The literature will come in the form of the conceptual, theoretical and empirical literature. The conceptual literature will cover the definitions of some key related terms as well as the importance of SMEs and SME clinics. Meanwhile, the theoretical literature will take a look at those theories on the subject matter which have been proposed by other researchers before concluding one particular theory to guide this study. Lastly, the empirical literature will comprise of empirical studies on the subject matter which will be reviewed and evaluated in order to arrive at a research gap. In addition, based on the guiding theory and empirical literature, a conceptual framework will be designed to guide this study. As a matter of fact, this conceptual framework will be used as a basis for the questions on the research instrument(s). 2.1 Conceptual Review of Literature SME The first term that will be looked at and review is the term “SME.” Unfortunately, there is nothing like a universal definition for the term which has ever been brought to light or asserted. In fact, several definitions of this term have been put forth by many different researchers over the past few decades. For instance, Ludwig and Owen-Boger (2017) defined an SME as a non-subsidiary, independent firm that employs less than a certain number of employees. By looking at this definition, it can be clearly seen that among the primary characteristics of an SME is the number 9 University of Ghana http://ugspace.ug.edu.gh of employees that work for the business. However, this definition does not include or assert the exact number of employees or the range of employees that an SME must-have. The European Union (EU) (2015), on the other hand, indicated that an SME in the European context is a firm with less than 250 employees and an annual turnover below €50 million and/or a balance sheet total below €43 million. Meanwhile, the United States International Trade Commission (USITC) (2010) defined it in an American context as a firm with fewer than 500 employees. Furthermore, from an Australian point of view, Wiessner, McDonald, and Banham (2007) asserted that an SME has fewer than 200 employees. From these definitions, one can immediately observe that the definition of an SME can vary based on one’s culture or geographic location. In addition, looking strictly at the European Union’s (2015) definition, revenue or financial position could be other factors which determine whether or not a firm is an SME. From a Ghanaian perspective, the National Board for Small-Scale Industries (NBSSI) did not actually go as far as to define an SME; they rather defined both small business and large business. It is believed, however, that a suitable definition could possibly be arrived at by locating the position at which these definitions intersect. For instance, by looking at the definition of a small business as one which employees between 6 and 29 persons with fixed assets (excluding land and buildings) not exceeding USD$100,000; and by looking at the definition of a medium-sized business as one which employs between 30 and 99 persons and possesses fixed assets not exceeding USD$1,000,000 (Ghana Investment Promotion Centre (GIPC), 2012). The last definition that will be looked at in this section was one which was provided by the Ghana Statistical Service (2010). They defined a small-scale business as one which employs less than 10 10 University of Ghana http://ugspace.ug.edu.gh persons, and a medium-sized business as one which employs more than 10 persons. As can be seen, however, they did not put a ceiling on the number of employees in a medium-sized business. In view of the definitions that have been looked at in this section, a suitable definition for an SME in the Ghanaian context can be given as “a firm which employs less than 100 persons and possesses fixed assets (excluding land and buildings) not exceeding USD$1,000,000.” SME Clinic SME clinic is another important term for this study. However, concrete definitions for the term could not be found. Nevertheless, definitions were inferred through the descriptions of SME clinics that were provided by a variety of sources. For instance, Union Savings and Loans (2018) described an SME clinic as a platform for providing free of charge training to business owners and managers on a regular basis. It was added that the topics addressed during the SME clinic are based on the needs and popular requests of the SMEs in question and may include human resource management, business development marketing, risk management, and financial management. Vodafone Ghana (2018) described an SME clinic as programmes designed to give SMEs with the requisite experience then need to enable them to grow and move to the next level. It was further indicated that these programmes may include various topics such as effective packaging, labeling, branding, understanding the customer, and how to take products globally. Additionally, Visionary Business Solutions (2018) defined an SME clinic as a programme which delivers visionary business solutions to pioneering entrepreneurs and small and medium-sized enterprises, inspiring them to create the next generation of global brands. The last definition that will be looked at was provided by OmniBank (2018). They described an SME clinic as a programme that provides free business support, advisory services, training, and 11 University of Ghana http://ugspace.ug.edu.gh networking opportunities from experts for business owners and managers in order to build capacity and share ideas regarding business opportunities, risk management, bookkeeping, human resource management, marketing, and sales management and other relevant topics; with topics chosen based on the needs and requests of the participants. Regarding the definitions that were provided above, the one by OmniBank (2018) will be utilized since, after all, OmniBank is the case study organization that is being studied. 2.1.2 Importance of SMEs After having defined the term SME, it is now important to explore the importance of SMEs in order to provide validity for this study. According to Hayford (2012), SMEs are of extreme importance to every nation and economy of the world; especially developing ones. This argument is in line with Wangmo’s (2016) statement that SMEs are the backbone of every economy and a key source of economic growth, dynamism, and flexibility in many nations. However, it must first be established that the importance of SMEs varies from nation to nation and economy to economy. Furthermore, Wangmo (2016) defended his statement by providing information that SMEs are an economic backbone since they have a tendency to contribute to both economic productivity and job creation since they employ more labor per unit capital than larger firms. Magreth (2012) added that SMEs also have a tendency to dominate new and fast-growing industries, and therefore, nations that discourage them indirectly discourage newer dynamic industries from springing forth and becoming vibrant. Additionally, economies consisting of older, larger firms face a risk of becoming arteriosclerotic. Another advantage of SMEs that was given by Kujala (2016) was that they have been shown to employ the largest amount of people in developing countries, and tend to serve as the foundation 12 University of Ghana http://ugspace.ug.edu.gh of the local private sector. This argument was corroborated by Stevens (2016) statement that countries with the lowest incomes have an average of 65% of all workers employed in companies with fewer than five individuals. Kujala (2016) indicated that this trend is since SMEs have lower capital costs associated with job creation since they are more labor-intensive than larger companies. In the case of Africa, according to Helpman (2011), SMEs account for more than 90% of all private businesses and contribute over 50% to its overall employment and gross domestic product (GDP). Some other important aspects of SMEs that was provided by Poon and Rigby (2017) were that they: are most often more innovative than larger firms; provide the public with investment opportunities, professional training, knowledge and skills; are a good source of revenue for governments in the form of taxes; and create conditions for the provision of infrastructure and other facilities (i.e. water, roads, electricity). Singh, Naz & Pathak (2010) brought Taiwan into the picture—a country considered by many to be the most successful developing country over the last 50 years that is built primarily on its dynamic SME sector. In doing so, they indicated that SMEs provide the country with a high growth rate and a low level of inequality. Finally, looking at the country of interest—the Republic of Ghana—a study conducted by Hayford (2012) brought to light that the SME sector is a major contributor to Ghana’s gross domestic product (GDP). However, it also indicated some major challenges which prevent the SME sector from maximizing its results; namely, the lack of access to credit, management inefficiencies, the inability to take advantage of advanced technology, regulatory constraints, and legal constraints. 13 University of Ghana http://ugspace.ug.edu.gh 2.1.3 SMEs in Ghana According to Hayford (2012), Ghana’s economy comprises of very small individual businesses, corporate bodies, multinational companies, and most importantly, small and medium-scale enterprises. According to Abor and Quartey (2010), SMEs in Ghana can be classified as either urban enterprises and rural enterprises, with urban enterprises being able to be subcategorized into “organized enterprises” and “unorganized enterprises.” The term “organized enterprises” was described by Abor and Quartey (2010) as those companies which pay employees and have a registered office. Meanwhile, they described “unorganized enterprises” as those consisting of artisans who perform their jobs at home, in open workspaces, or in temporary wooden structures, normally have few or no salaried workers, and rely primarily on apprentices or family members. Regarding rural enterprises, on the other hand, it was indicated by Kayanula and Quartey (2000) that they can be characterized as comprising of “family groups, individual artisans, and women engaged in food production from local crops.” They also pointed out that rural enterprises are usually involved in the following industries: bakeries, the production of wood furniture, the assembly of electronic items, agro-processing, food processing, the production of soaps and detergents, the production of fabrics and clothing, tailoring, textile and leather, blacksmithing, “tinsmithing,” timber and mining, beverages, bricks and cement, and mechanics. Nevertheless, SMEs account for more than 70% of the country’s GDP and act as a major form of business as well as a major employer. Furthermore, SMEs account for approximately 92% of all business in Ghana and constitute approximately 90% of the private sector’s contribution to Ghana’s GDP (Prempeh, 2015). 14 University of Ghana http://ugspace.ug.edu.gh Hayford (2012) went further to mention that the Government of Ghana (GoG) has a strong interest in the SME sector as they are of the view that it can transform the nation’s private sector into an engine of growth, and that it can also supply large corporations (i.e. transnational and multinational corporations) with goods and services. Another point that was made by Hayford (2012) was that Ghana’s SME sector has succeeded in expanding output, providing value-added activities to the country’s manufacturing sector, creating employment opportunities (mainly in the service sector of the economy) and contributing to broadening Ghana’s export base. Regarding national output, Akugri et al. (2015) mentioned that SMEs account for about 50% of the country’s national output and account for 60% of the country’s employment. Other benefits of SMEs in Ghana that were provided by Akugri et al. (2015) were that they provide a manner in livelihood to lower-income peoples; foster growth in the economy; generate income, and create employment. Concerning the creation of employment, Kujala (2016) indicated that currently, SMEs account for over 50^% of all fulltime employment in the formal sector and much more than that in the informal sector. For the past few years, banks in Ghana have been striving to establish their own SME departments to address the challenges that are constantly being faced by SMEs and provide SME related products and services such as SME clinic. Lastly, it was pointed out by Prempeh (2015), however, that the majority of SMEs are owned by females and are home-based. Being a very bold assertion, supporting information was sought after to either support or denounce it, but none could be found. 2.2 Theoretical Review of Literature A number of relevant theories on the subject matter were reviewed such as the Theory of Reinforcement, Theory of Learning Types, Theory of Experiential Learning and Theory of Social 15 University of Ghana http://ugspace.ug.edu.gh Learning. Each of these will be looked at critically in this section. However, only one of these theories will be selected. 2.2.1 Theory of Reinforcement Regarding the Theory of Reinforcement, it was proposed by the economist B.F. Skinner and posits that an individual’s learning behavior will be repeated as long as it is attached to a positive outcome or reward. According to Clark (2003), it can also work if it is attached to a negative outcome or reward; thus, the different terms “positive reinforcement” and “negative reinforcement.” In other words, the behavior of an individual is attached to the consequences of that behavior. It was stated by Al-Jishi (2009) that the Theory of Reinforcement assumes that certain stimuli shape behavior. Furthermore, it can be assumed that this theory does not deal strictly with individuals, but can also be applied to groups and organizations such as OmniBank. This theory and the different types of reinforcement are depicted in Figure 2.1. Figure 2. 1: Theory of Reinforcement Source: Clark (2003). 16 University of Ghana http://ugspace.ug.edu.gh Nonetheless, the Theory of Reinforcement has been used in different areas of study such as the raising of children, motivating employees in the workplace and animal training. However, no sources could be found which mentioned that this theory has also been used in the training of companies and organizations (Abonam, 2011). In the final analysis, it should be mentioned that since this study does not deal with factors needed to motivate OmniBank to pursue SME clinic training, the Theory of Reinforcement does not apply. 2.2.2 Theory of Learning Types The Theory of Learning Types is a theory that was posited by Robert Gagne. According to the theory, there are several different types of learning which each require different types of instruction. Gagne, however, was able to identify five major categories of learning which include: (1) verbal information, (2) intellectual skills, (3) cognitive strategies, (4) motor skills and (5) attitudes. It was further indicated that different internal and external conditions are required for each category of learning (Schunk, 2015). Another aspect of Gagne’s theory is that it organizes learning tasks for intellectual skills into a hierarchy according to complexity. With that, this hierarchy comprises of the following: stimulus recognition, response generation, procedure following, the user of terminology, discrimination, concept formation, rule application, and problem-solving. This was done in order to identify prerequisites that must be completed to facilitate learning at each level by performing a task analysis of a learning/training task. Furthermore, of importance, the theory outlines nine instructional events and corresponding cognitive processes which are as follows: (1) gaining attention (reception); (2) informing learners of the objective (expectancy); (3) stimulating recall of prior learning (retrieval); (4) presenting the 17 University of Ghana http://ugspace.ug.edu.gh stimulus (selective perception); (5) providing learning guidance (semantic encoding); (6) eliciting performance (responding); (7) providing feedback (reinforcement); (8) assessing performance (retrieval); and (9) enhancing retention and transfer (generalization) (Schunk, 2015). In the final analysis, looking at this theory, it appears that the nine instructional events and corresponding cognitive processes can be used as the training methodology for OmniBank’s SME clinic. 2.2.3 Theory of Experiential Learning Experiential learning refers to a learning process through experience or “reflection on doing.” It was first introduced by David A. Kolb in the 1970s and drew heavily on the works of John Dewey, Kurt Lewin, and Jean Piaget. This modern-day theory, however, was proposed by C. Rogers. According to C. Rogers, this type of learning style addresses a learner’s particular wants and needs. Furthermore, experience provides the individual with a maturity, increases the individual’s learning power, and provides the individual with the necessary knowledge (Napier & Gershenfeld, 2004). According to Kolb, the acquisition of knowledge by a learner results through him or her grasping and transforming the experience under consideration. Some strategies for grasping experience that Kolb suggested were concrete experience and abstract conceptualization. In addition, strategies for transforming experience included reflective observation and active experimentation (Napier & Gershenfeld, 2004). One last aspect of the theory that will be looked at that was provided by Kolb is that there are a number of different factors that can influence an individual’s preferred learning style; namely, 18 University of Ghana http://ugspace.ug.edu.gh (i) personality type, (ii) educational specialization, (iii) career choice, (iv) current job role and (v) adaptive competencies (Napier & Gershenfeld, 2004). Lastly, looking critically at this theory in relation to this particular study, it can be said that it doesn’t seem to apply since the nature of SME clinics severely limits the extent to which SMEs can enjoy the benefits of experiential learning. 2.2.4 Theory of Social Learning The last theory that will be examined is the Theory of Social Learning. This theory was developed by Albert Bandura and argues that individuals learn from one another primarily through imitation, modeling, and observation. However, observation is the dominant instrument of this theory. As a matter of fact, the theory argues that observing other people’s behaviors, attitudes and outcomes through modeling. Moreover, through modeling refers to the process of (i) observing others, (ii) forming an idea of how new behaviors are performed, and (iii) using this coded information as a guide to action (Van Wormer & Besthorn, 2017). In contrast to Skinner’s theory, it was argued by Bandura that mediating processes occur between stimuli and responses. In other words, human beings process information about the consequences of their behaviors before exhibiting those behaviors. In this regard, it was argued that human beings do not simply observe the behavior of a model and then imitate it (see Figure 2.2) (Van Wormer & Besthorn, 2017). Lastly, there were four mediational processes proposed by Bandura which consisted of: (1) attention, (2) retention, (3) reproduction and (4) motivation (Van Wormer & Besthorn, 2017). This theory, however, cannot be applied to the predicament in this particular study as social 19 University of Ghana http://ugspace.ug.edu.gh learning would not apply to SME clinics which instead rely on a highly organized and planned learning process. Figure 2. 2: Cognitive Model Source: Van Wormer and Besthorn (2017). 2.3 Empirical Studies Looking at a study that was conducted by Gamage and Sadoi (2008), the purpose of the study was to investigate the determinants of training and development practices in Japanese manufacturing SMEs. The explanatory variables that were tested on SME training and development were: (i) age of the firm, (ii) size of the firm, (iii) nature of control of the firm, (iv) changes in employment, (v) organizational support, (vi) growth in employees, (vii) business sector and (viii) the attitudes of owners and managers towards training. All of these variables can be seen in the study’s conceptual framework diagram which is shown in Figure 2.3. Through the study, it was discovered that the attitudes of owners/managers and organizational support towards training and development were the primary determinants of training intensity in Japanese SMEs. Perhaps these findings could be applied to this particular study in the sense that it could inform OmniBank on some possible factors which could hinder SMEs from signing up for its programme. 20 University of Ghana http://ugspace.ug.edu.gh Figure 2. 3: Determinants of Training and Development Intensity Model Source: Gamage and Sadoi (2008). Another study was conducted by Novak (2012) for the purpose of examining the training and development processes and practices within Queensland SME training and development innovators SMEs in order to identify good practice regarding training and development in the Queensland SME sector. With that being said, out of all of the research questions, the most relevant ones were: (i) What are the drivers (internal and external) of training and development in 21 University of Ghana http://ugspace.ug.edu.gh innovative SMEs?; (ii) What are the characteristics of a training development climate in innovative SMEs?; and (iii) What is the perceived role of training and development practices in organizational performance? According to the findings of the study, it was found that the presence of a human resource manager and government requirements were the main drivers of training and development among SMEs. Perhaps this could also apply to SMEs in Ghana as well. In addition, it was found that managers with educational levels of diploma and higher were more susceptible to training and development than those with lower educational levels. However, it should be mentioned that less than 50% of the SMEs that were surveyed possessed training and development policies. Finally, all of the SMEs that were surveyed indicated that they use both internal and external trainers. However, regarding external trainers, it was not indicated that any of the SMEs mentioned SME clinics. Nevertheless, it was mentioned that internal trainers were preferred as it was viewed to be a cheaper option and that internal trainers understand SME requirements better. Regarding external trainers, on the other hand, those that preferred them indicated that it was because they were viewed to be experts in training and development. Although there were many studies found on SMEs, their benefits and challenges, very few were found which dealt with SME training and development; and none were found which dealt specifically with SME clinics. 2.4 Conceptual Framework As can be seen in Figure 2.4, this study seeks to determine the effect of OmniBank’s SME Clinic on the business management capacity and knowledge of owners/managers of SMEs, thus leading to employee performance. Business management capacity and the knowledge of managers were 22 University of Ghana http://ugspace.ug.edu.gh identified to be two of the most serious challenges facing SMEs. In fact, according to Nkonoki (2010), the lack of management capacity has been a very serious challenge facing SMEs; and that in many developing countries (such as Ghana), very little has been done to develop the entrepreneurial and managerial capability of those who start businesses with little or no basic business management skills. Vanhaverbeke (2017) added that apart from access to finance or the availability of capital, the competitiveness of SMEs is also determined by the manner in which they manage their scarce financial, human and material resources, market complexities and changes, and handle environmental opportunities and threats. Magreth (2012) added that SMEs require the right knowledge to manage their businesses in order to impact positively on their companies and the economy as a whole. Business Management Capacity Employee Performance Business Knowledge Figure 2. 4: Conceptual Framework Diagram Source: Author’s Conceptualization (2019). 23 University of Ghana http://ugspace.ug.edu.gh 2.5 Conclusion The purpose of this literature review was to review, analyze and discuss literature which had been conducted on the effects of SME clinics on SME business management capacity and knowledge. Through the review of literature, it was arrived at that the terms SME and SME clinic are very important terms for this study. With that, a suitable definition for SME was found to be: “a firm which employs less than 100 employees with fixed assets not exceeding USD$1,000,000.” Meanwhile, an SME clinic can be defined as “a programme that provides free business support, advisory services, training and networking opportunities from experts for business owners and managers in order to build capacity and share ideas regarding business opportunities, risk management, bookkeeping, human resource management, marketing and sales management and other relevant topics; with topics chosen based on the needs and requests of the participants.” Regarding the importance of SMEs, it was brought to light that they contribute to both economic productivity and job creation; dominate new and fast-growing industries; employ the largest amount of people in developing countries; serve as the foundation of the local private sector in developing countries; account for more than 90% of all private businesses; tend to be more innovative than larger firms; provide the public with investment opportunities, professional training, knowledge and skills; are a good source of revenue for governments in the form of taxes; create conditions for the provision of infrastructure and other facilities; and are a major contributor to Ghana’s gross domestic product (GDP). After having looked at a number of theories on the subject matter such as the Theory of Reinforcement, Theory of Learning Types, Theory of Experiential Learning and Theory of Social Learning, it was arrived at that the Theory of Learning Types would be the most appropriate as it 24 University of Ghana http://ugspace.ug.edu.gh appeared that the nine instructional events and corresponding cognitive processes could be used as the training methodology for OmniBank’s SME clinic. Lastly, through a review of the empirical literature on the subject matter, it was found that there were no studies which made any attempt to determine the effect of SME clinics on SME performance or potency. This, therefore, serves as a research gap and justifies this study’s objectives of determining the strengths and weaknesses of OmniBank’s SME Clinic; and investigating the effect of OmniBank’s SME Clinic on the business management capacity and knowledge of owners/managers of SMEs in the Accra Metropolis. 25 University of Ghana http://ugspace.ug.edu.gh CHAPTER THREE METHODOLOGY 3.0 Introduction According to Graziano and Raulin (2012), a research methodology as the systematic method, comprising of methods and principles, that is used to both collect and analyze a study’s data. In line with this, this research methodology comprises of a research setting, research approach, research design, research paradigm, research population, research sample, sampling technique(s), data collection instruments and procedures, methods for ensuring reliability and validity, data analysis techniques and ethical considerations. 3.1 Research Setting A research setting describes the physical, cultural and social location in which a study is conducted (Graziano & Raulin, 2012). This study was conducted in the Accra Metropolis of Ghana—both the location of OmniBank’s headquarters as well as the residential location of the Researcher. It should be mentioned that this choice of a research setting made it easier for the Researcher to collect information about the bank’s SME clinic, as well as for her to collect and analyze data from the study’s respondents. 3.2 Research Approach and Design A research approach describes a researcher’s plans and procedures for conducting a study. It consists of the methods used for data collection, data analysis, and interpretation, as well as the underlying assumptions (Creswell, 2013). After having reviewed the assertions made by Creswell (2013), Graziano and Raulin (2012), Passer (2013) and Trochim, Donnelly & Arora (2015), it was 26 University of Ghana http://ugspace.ug.edu.gh determined that there are four main approaches to research; namely, the (1) quantitative approach, (2) qualitative approach, (3) mixed-methods approach and (4) emancipator approach. The quantitative approach usually involves a hypothesis which is then tested with the numerical analysis of data that is collected through polls, questionnaires, surveys or the manipulation of pre- existing statistical data. The qualitative approach involves the collection of non-numerical data in order to provide a narrative of the experiences of a specific group of people in their own words. The mixed-methods approach combines elements of both the quantitative and qualitative approaches and, in doing so, combines their strengths and offsets their weaknesses. The emancipator approach focuses on providing a voice to a marginalized group of people. In doing so, it describes their predicament in order to promote social change or reform in their favor (Passer, 2013). After having reviewed the uses of all of the aforementioned approaches, it was arrived at that it would be most beneficial for the study to utilize the mixed methods approach to research as it can be used to ensure triangulation, or the cross-verification of results via the use of different data collection methods and research subjects (Creswell, 2013). Concerning the research design, this study made use of the descriptive case study design. Descriptive research can be used to describe the features of a population or event that is being researched. Moreover, it can come in the form of observational methods, survey methods and case study methods. The case study method was chosen for this research. The reason for this was because of its advantage of being able to provide an in-depth look at individuals, groups, and/or events. In order to prevent expectancy effects, the Researcher utilized triangulation (as previously discussed) and made sure she remained as objective as possible during the research. The research design flowchart can be seen in Figure 3.1. 27 University of Ghana http://ugspace.ug.edu.gh Figure 3. 1: Research Design Flowchart Source: Author’s Conceptualization (2019). 3.3 Research Paradigm A research paradigm is a set of assumptions about how research problems should be understood and addressed (Creswell, 2013). The key research paradigms include the Positivist, Interpretivist, Pragmatism and Transformative paradigms. The Positivism paradigm is based on the assumption that reality is objective and requires both observation and reason to comprehend. The Interpretivist paradigm assumes that the world can be understood from people’s subjective experiences and 28 University of Ghana http://ugspace.ug.edu.gh viewpoints. The Pragmatism paradigm does not seek to debate on what is truth or reality. It rather focuses on what is feasible with respect to the research being conducted. Finally, the Transformative paradigm seeks to mitigate the power differentials or disparities which resulted in a group of people being marginalized (Passer, 2013). The Pragmatism paradigm was utilized since it advocates the use of the mixed methods approach to research—the chosen approach for this particular study. 3.4 Research Populations and Samples A research population refers to a group of individuals, objects or items that is well-defined and contains a similar, common or binding characteristic(s) or trait(s). A research sample, on the other hand, refers to a subset of a research population comprising of a group of people, objects or items used to make generalizations about the population (Passer, 2013). The statistical population (N) of the study consisted of all of the SMEs that had taken part in OmniBank’s SME clinic—403. In order to arrive at the statistical sample, the Yamane equation was used: Where:  no is the sample size;  Z2 is the abscissa of the normal curve that cuts off an area  at the tails (1 –  equals the desired confidence level);  e is the desired level of precision; 29 University of Ghana http://ugspace.ug.edu.gh  p is the estimated proportion of an attribute that is present in the population;  q equal 1-p. The human research population of the study comprised of: the management and staff of OmniBank Ghana Limited. Meanwhile, the human research samples consisted of: (i) the Managing Director, Corporate Affairs Manager, Head of Project and Performance (SME clinics), Team Lead of the Projects (SME clinics); (ii) the junior staff of the Performance Department (three (3) officers), junior staff of the Corporate Affairs Department (four (4) officers); and (iii) the owners and managers of the 197 SMEs that participated in the SME clinic. With regard to the 197 SMEs in question, the junior staff of the Performance Department, and the junior staff of the Corporate Affairs Department, they were all chosen with the use of the simple random sampling technique in which each research subject was chosen sporadically with an equal probability of being chosen. In contrast, the Managing Director, Corporate Affairs Manager, Head of Project and Performance, Team Lead of the Project, and the owners/managers of the 197 SMEs were chosen with the use of the purposive, non-probability sampling technique. This technique utilized the judgment of the Researcher to select those individuals whom she felt possessed the relevant knowledge and information to advance this particular study. 30 University of Ghana http://ugspace.ug.edu.gh 3.5 Data Collection Instruments and Procedures This study made use of two primary data collection instruments: (1) the questionnaire and (2) the semi-structured interview. The questionnaire consisted of a set of printed closed-ended questions with a choice of answers. Closed-ended questions were preferred based on their advantages described by Creswell (2013); namely, (i) it being quicker and easier for respondents to answer; (ii) the responses of different respondents being easier to compare, and (iii) the answers being easier to code and statistically analyze. The owners/managers of the SMEs were surveyed via questionnaires. This was in order to determine the strengths and weaknesses of OmniBank’s SME Clinic and to investigate the effect of OmniBank’s SME Clinic on the business management capacity and knowledge of owners/managers of SMEs in the Accra Metropolis. Before the surveys took place, permission had to first be sought after and granted by the head(s) of the institutions in questions. Afterward, dates were set to administer the questionnaires. Each respondent was given a questionnaire and approximately one (1) hour to complete it. For some, due to their busy schedules, it was necessary to leave the questionnaires with them until they were able to finally submit them at their own convenience. The survey took a total of 15 working days to complete. The semi-structured interviews, on the other hand, were flexible interviews in which the Researcher did not strictly follow a formalized set of questions, but occasionally asked follow-up questions for further clarification based on the responses given by the research subjects. These interviews were conducted with the Managing Director, Corporate Affairs Manager, Head of Project and Performance, Team Lead of the Project, the junior staff of the Performance Department, and junior staff of the Corporate Affairs Department. This was in order to determine 31 University of Ghana http://ugspace.ug.edu.gh the strengths and weaknesses of OmniBank’s SME Clinic. Like the questionnaires, these interviews had to be pre-scheduled and permission had to be granted before they could be conducted. Before the interviews were conducted, each of the respondents was given an interview guide consisting of the main questions that would be asked of them. This was done in order for them to prepare themselves for the actual interview. During the actual interviews, they were asked these questions and given ample time to prepare their responses while they were voice recorded after having granted the Researcher permission. This survey took a total of six (6) working days to complete. 3.6 Reliability and Validity Reliability is a research term which refers to the degree of consistency with which a research instrument produces stable and consistent results. Validity refers to the degree to which a research instrument measures what it is intended to measure (Creswell, 2013). In order to ensure reliability, test-retest reliability was employed. This involved the questionnaire being administered to a sample of test respondents (25 persons) who were not part of the actual research sample on two separate occasions. Scores were given for their answers and these scores were later correlated to determine the stability of the responses. As can be seen in Table 3.1, the stability score of 0.828 proves satisfactory. Concerning validity, on the other hand, it was ensured through a method known as face validity which was inspired by Passer (2013). Face validity involved the Researcher adopting the questions used in similar studies on the same subject matter for this study’s research instruments. 32 University of Ghana http://ugspace.ug.edu.gh Table 3. 1: Test-Retest Reliability Scores Agreement in responses of the Number (%) of individuals with participants on each item for the 2 the same responses on both day Questionnaire Item occasions (n = 25) 1 and 7 1 18 0.72 2 21 0.92 3 22 0.88 4 17 0.68 5 19 0.76 6 21 0.84 7 20 0.8 8 19 1.00 9 19 0.92 10 18 0.72 11 17 0.68 12 17 0.68 13 16 0.64 14 18 0.72 15 24 0.96 16 23 1.00 17 22 0.88 18 25 1.00 19 19 0.68 20 21 0.84 21 22 0.88 22 18 0.72 23 21 0.84 24 20 1.00 25 22 0.64 26 23 0.92 27 24 0.96 28 25 1 29 19 0.76 30 20 0.8 31 20 0.8 Mean 20.33 0.828 Standard Deviation 1.49 0.592 33 University of Ghana http://ugspace.ug.edu.gh Source: Fieldwork (2019). 3.7 Data Analysis Techniques After the questionnaires were submitted, the data was organized and inputted into an Excel spreadsheet before being processed by the Statistical Package for Social Sciences (SPSS) Version 22.0 with the use of descriptive statistics, inferential statistics, tables, charts, and simple linear regression. To set the meanings behind the values inputted, the “Variable View” tab was used. The following regression equations were used for the study: SCt = C + iBCt + ei-----------------------------------------------------------------------------------(1) SCt = C + iBKt + ei-----------------------------------------------------------------------------------(2) Table 3. 2 : Regression Variables Variables Definition and Measurement Expected Signs SME Clinic (SC) The instruction given to the SME during the + OmniBank SME Clinic. Constant term (C) Value at which the regression line crosses the Y- + axis. Idiosyncratic error term A residual value produced by the model when it + (ei) does not actually represent the relationship between the independent and dependent variables. Bi Coefficient for each of The coefficient for variable i which measures the + the variables probability of business management capacity or business knowledge for every change in instruction at the SME clinic. Business Management The ability of managers to run their SMEs + Capacity (BC) successfully. Business Management The sum of skills, experiences, capabilities and + Knowledge (BK) expert insight which SME managers use to run their businesses. Source: Researcher (2019) 34 University of Ghana http://ugspace.ug.edu.gh The qualitative data from the interviews, on the other hand, was analyzed using a method known as thematic analysis. The thematic analysis involved identifying, examining and recording patterns or themes that occurred within the data in order to describe the research phenomenon. This research method was inspired by Creswell (2013). 3.8 Ethical Considerations During the course of the study, some considerations were made to ensure that acceptable research practices were employed. This was in order to keep the Researcher beyond reproach in her academic institution and in the research community at large. One of these considerations was informed consent which involved allowing respondents to make the self-conscious decision to participate in the study. This was after informing them of the study’s purpose, the associated risks, and benefits of participation, as well as the fact that they possessed the right to withdraw their participation at any time during the research exercise. Another consideration that was made was with respect to anonymity and confidentiality. This involved ensuring that the research subjects’ identities and responses could not be identified at a later date. In doing so, they were asked not to write their names or any personal details on the questionnaires which could hint at their identity. Furthermore, when performing the analysis, the names of respondents were not used; rather their positions. Somehow related, privacy was another major consideration. To be specific, the questionnaires and interview transcripts were not viewed by anybody apart from the Researcher. Moreover, after they were used, they were then stored in a safety lock box with no one other than the Researcher having access to them. 35 University of Ghana http://ugspace.ug.edu.gh The last major consideration that was made was with respect to intellectual property. With that, the major area of concern was plagiarism, or the presenting of someone else’s works or ideas as one’s own, or incorporating them into one’s work without full acknowledgment. In order to avoid this infraction, a number of methods were adopted. These included the following and were inspired by Trochim et al. (2015): (i) paraphrasing the works of others; (ii) citing the works of others; (iii) quoting other researchers’ content exactly the way it appeared; (iv) citing quotes, and (v) creating a reference section. 3.9 Conclusion The purpose of this chapter was to describe the manner in which the study’s data was collected, analyzed and interpreted. In the final analysis, it was determined by the Researcher that it would be most prudent to make use of the mixed methods approach to research, descriptive case study design, Pragmatism paradigm, research questionnaires, and semi-structured interviews. These methods were used on the following research samples: (i) the Managing Director, Corporate Affairs Manager, Head of Project and Performance and Team Lead of the Project; (ii) the junior staff of the Performance Department, junior staff of the Corporate Affairs Department, and the owners / managers of the 197 SMEs that participated in the SME clinic. Furthermore, test-retest reliability and face validity were both used to certify the research instruments. Descriptive statistics, inferential statistics, tables, charts, and thematic analysis were used to analyze the collected data. Finally, the ethical considerations that were made were with respect to informed consent, anonymity, confidentiality, privacy, and intellectual property. 36 University of Ghana http://ugspace.ug.edu.gh CHAPTER FOUR DATA ANALYSIS AND DISCUSSION OF FINDINGS 4.0 Introduction This chapter presents the data that was collected during the study by the Researcher from OmniBank Ghana Limited’s Managing Director, Corporate Affairs Manager, Head of Project and Performance, Team Lead, junior staff of the Performance Department, and junior staff of the Corporate Affairs Department; as well as the owners / managers of the 197 SMEs that participated in its SME Clinic. After the presentation, the data is then analyzed, interpreted and discussed in relation to the research objectives. 4.1 Results 4.1.1 Questionnaire Retrieval Rate Out of the 197 questionnaires that were administered, a total of 63.45% (125) were retrieved, whereas 36.55% (72) had to be rejected due to irretrievability or not having been completed properly. Nevertheless, this retrieval rate is considered to be satisfactory according to Passer’s (2013) estimates who approved of at least a 60% retrieval rate when it comes to academic questionnaire administration (see Table 4.1). Table 4. 1 : Questionnaire Retrieval Rate Questionnaire Status No. of Respondents % of Respondents Retrieved 125 63.45% Not Retrieved 72 36.55% Total 197 100.00% Source: Field Data (2019). 37 University of Ghana http://ugspace.ug.edu.gh 4.1.2 Demographic / Personal Information of Respondents This section looks at respondents’ demographic/ personal information in terms of their genders, ages, educational backgrounds and positions occupied in their respective companies. 4.1.2.1 Gender Distribution of Respondents First off, with respect to the genders of the respondents, approximately 44.8% (56) were males, whereas 55.2% (69) were females. This is an indication that the number of female respondents exceeded the number of male respondents (see Table 4.2). However, it should also be mentioned that this figure differs from the national proportion of males to females in Ghana which was last recorded at 50.9% males to 49.1% females in 2017 (World Bank, 2017). Notwithstanding, this situation was accepted as it was unavoidable due to the simple random sampling technique having been employed. Table 4. 2: Gender Distribution of Respondents Gender No. of Respondents % of Respondents Males 56 44.8% Females 69 55.2% Total 125 100.00% Source: Field Data (2019). 4.1.2.2 Age Distribution of Respondents Concerning the ages of the respondents who were surveyed, 14.4% (18) were between the ages of 18 and 30 years; 40.0% (50) were between the ages of 31 and 40 years; 27.2% (34) were between 38 University of Ghana http://ugspace.ug.edu.gh the ages of 41 and 50 years; 16.8% (21) were above the age of 50; and 1.6% (2) of the responses were missing (see Table 4.3). Table 4. 3: Age Distribution of Respondents Ages No. of Respondents % of Respondents 18 and 30 years 18 14.4% 31 and 40 years 50 40.0% 41 and 50 years 34 27.2% Above 50 years 21 16.8% Missing 2 1.6% Total 125 100.00% Source: Field Data (2019). 4.1.2.3 Educational Backgrounds of Respondents Concerning the respondents’ educational levels, it was determined that 21.6% (27) of the respondents had reached JHS (or its equivalent); 44.8% (56) had reached SHS (or its equivalent); 10.4% (13) had achieved a diploma or HND; 12.8% (16) had achieved a bachelor’s degree; 2.4% (3) had achieved a master’s degree; 4.0% (5) had achieved professional certification; and 4.0% (5) of the responses were missing (see Table 4.4). The Researcher is of the personal view that the fact that the majority of respondents were able to achieve at least an SHS education is a strong indication that they were able to comprehend the questions that were asked of them and to provide the necessary responses. Table 4. 4: Educational Backgrounds of Respondents Ages No. of Respondents % of Respondents JHS (or its equivalent) 27 21.6% SHS (or its equivalent) 56 44.8% Diploma or HND 13 10.4% Bachelor’s Degree 16 12.8% Master’s Degree 3 2.4% Professional Certification 5 4.0% Missing 5 4.0% 39 University of Ghana http://ugspace.ug.edu.gh Total 125 100.00% Source: Field Data (2019). 4.1.2.4 Positions within their Organizations Looking at the positions that each of the respondents had occupied in their respective firms, 10.4% (13) had occupied the position of Managing Director; 10.4% (13) were other executives; 11.2% (14) were senior managers; 44.0% (55) were middle managers; 17.6% (22) were lower managers; and 6.4% (8) did not provide responses (see Table 4.5). Table 4. 5: Professional Positions of Respondents Professional Position No. of Respondents % of Respondents Managing Director 13 10.4% Executives 13 10.4% Senior Managers 14 11.2% Middle Managers 55 44.0% Lower Managers 22 17.6% Missing 8 6.4% Total 125 100.00% Source: Field Data (2019). 4.1.3 Firm Information When respondents were asked to indicate which industries their firms were involved in, 9.6% (12) indicated construction; 16.8% (21) indicated transportation and storage; 6.4% (8) indicated finance and insurance activities; 1.6% (2) indicated the repair of vehicles; 12.0% (15) indicated the trading of household goods; 16.8% (21) indicated hotels and restaurants; 11.2% (14) indicated other food and beverages; 21.6% (27) indicated manufacturing; and 4.0% (5) indicated education (see Table 4.6). As is apparent, the majority of respondents were involved in the manufacturing sector, and the minority were involved in the repair of vehicles. 40 University of Ghana http://ugspace.ug.edu.gh Table 4. 6: Industries / Sectors of Respondents Professional Position No. of Respondents % of Respondents Construction 12 9.6% Transportation and Storage 21 16.8% Finance and Insurance Activities 14 11.2% Repair of Vehicles 55 44.0% Trading of Household Goods 22 17.6% Hotels and Restaurants 8 6.4% Other Food and Beverages 14 11.2% Manufacturing 27 21.6% Educational Institutions 5 4.0% Total 125 100.00% Source: Field Data (2019). When respondents were asked to indicate the number of years their firms had been operating; 26.4% (33) indicated less than 1 year; 43.2% (54) indicated between 1 and 5 years; 16.8% (21) indicated between 5 and 10 years; 12.8% (16) indicated over 10 years; and only 0.8% (1) response was missing (see Table 4.6). As can be seen, the majority of the respondents had been in business for at least one year, but not so many for at least five years. Therefore, it can be concluded that the majority of companies that had participated in the SME Clinics were in their startup phase. Table 4. 7: Number of Years of Operation Professional Position No. of Respondents % of Respondents Less than 1 year 33 26.4% Between 1 and 5 years 54 43.2% Between 5 and 10 years 21 16.8% Over 10 years 16 12.8% Missing 1 0.8% Total 125 100.00% Source: Field Data (2019). 41 University of Ghana http://ugspace.ug.edu.gh 4.2 Main Results 4.2.1 Objective One: Strengths and Weaknesses of OmniBank’s SME Clinic This section will look at the strengths and weaknesses of OmniBank’s SME Clinic from both the SMEs’ OmniBank’s points of view. First off, considering the strengths of SMEs, Table 4.7 shows that overall, respondents agreed that the personnel of the SME Clinic were very knowledgeable (4.31, 0.124); the information that was covered in the SME Clinic was relevant (4.22, 0.418); the SME training was interesting (4.09, 0.151); the training methods that were used matched the companies’ requirements (4.01, 0.523); the SME Clinic improved the skills of their employees (4.01, 0.539); and the SME Clinic improved the productivity of their businesses (3.19, 0.584). However, respondents were uncertain if the SME Clinic reduced the need for employee supervision (3.76, 0.574); the SME Clinic reduced resulted in an improvement in job retention (3.61, 0.575); and if the SME Clinic resulted in an improvement in employee job satisfaction (3.54, 0.585). Concerning the weaknesses, respondents were generally of the sentiment that the SME Clinic utilized too much theory (4.14, 0.538). However, they disagreed that it was a total waste of time (2.14, 0.548), waste of money (2.01, 0.423), or was too long (2.01, 0.555). Lastly, the overall mean for the strengths and weaknesses construct was 3.441. In the final analysis, it can be seen that the perceived strengths of the SME Clinic outweigh the perceived weaknesses. However, as for the ultimate effects of the SME Clinic, it appears that despite its overall positive effect, its individual effects such as improving job retention, reducing the need for employee supervision and improving employee job satisfaction have been limited. 42 University of Ghana http://ugspace.ug.edu.gh Table 4. 8: Strengths and Weaknesses of OmniBank’s SME Clinic Statements Mean Standard Deviation The personnel of the SME Clinic were very knowledgeable. 4.31 0.124 The cost of the SME Clinic was reasonable. 3.14 0.558 The training methods that were used matched the companies’ requirements. 4.01 0.523 The SME Clinic improved the skills of their employees. 4.01 0.539 The SME Clinic improved the productivity of their businesses. 3.19 0.584 The SME training was interesting. 4.09 0.151 The SME Clinic had resulted in an improvement in employee job satisfaction. 3.54 0.585 The SME Clinic had resulted in an improvement in job retention. 3.61 0.575 The information covered in the SME Clinic was relevant. 4.22 0.418 The SME Clinic had reduced the need for employee supervision. 3.76 0.574 The SME Clinic was a waste of time. 2.14 0.548 The SME Clinic was a waste of money. 2.01 0.423 The SME Clinic utilized too much theory. 4.14 0.538 The SME Clinic was too long. 2.01 0.555 Overall Mean 3.441 Source: Field Data (2019). When the Managing Director of OmniBank was interviewed, he agreed that one of the major strengths of the SME Clinics is that the subjects covered are usually relevant to the organizations attending. He went further to indicate that the main reason for this is because: “Topics are chosen on a need basis and upon the request of attendees. This is not done too much sporadically or based on speculation.” 43 University of Ghana http://ugspace.ug.edu.gh However, on the downside, he indicated that the SME Clinics should cover some additional subjects and that not all of the subjects that have been proposed have been given adequate consideration. According to the Corporate Affairs Manager, rather than being a waste of time, attendees have rather argued that the Clinic does not allocate enough time to its presentations. For instance, many of them wanted a presentation on Financial Management to be extended. Meanwhile, the Team Lead of the Project was of a different opinion. He mentioned that: “Increasing the duration could cause the bank to lose the edge to convert its participants to potential clients; and by the way, most people leave before the closing period.” A weakness that the Corporate Affairs Manager brought to light was that: “There have been complaints about the late start of the programmes. However, in our defense, it can be argued that this is because many times, some of the participants are late themselves.” A point that was brought up by the Head of Project and Performance was that: “Some of the respondents have also mentioned that we should go much deeper into our explanations of the subjects that we teach. However, as we are limited on time, this can’t be done in these settings. As it is my opinion that we elaborate enough and to the point, others believe on the contrary.” 44 University of Ghana http://ugspace.ug.edu.gh One of the junior members of the Performance Department indicated that recently, participants have been complaining that there is not enough training being done on bookkeeping and finance and that too much training is being done in the area of marketing. According to another member of the Performance Department, a particular strength has been that: “I have heard a lot of comments off the record that participants have been very pleased with the content that they receive regarding the benefits of effective financial management.” A weakness that was presented by a junior officer at the Corporate Affairs Department was that: “There is too much theory involved and the programme does not focus too much on technical and vocational education.” Lastly, with regard to strengths, the Corporate Affairs Manager brought up three. They are as follows: (i) that a lot of the participant organizations benefit in terms of enhanced skill sets; (ii) that a lot of the participant organization benefit from enhanced general and specialized knowledge; and (iii) that the programme is being done for SMEs for free. Table 4.8 displays all of the strengths, and Table 4.9 displays all of the weaknesses that were discovered during the interviews that were conducted with respondents. 45 University of Ghana http://ugspace.ug.edu.gh Table 4. 9: Strengths of OmniBank’s SME Clinic Discovered During Interviews S/n Strengths 1. Subjects are relevant to the organizations attending. 2. The programme improved the general and specialized knowledge of all participants. 3. The programme enhanced the skill sets of participants’ employees. 4. Participants were able to freely access all of the information. Source: Field Data (2019). Table 4. 10: Weaknesses of OmniBank’s SME Clinic Discovered During Interviews S/n Weaknesses 1. The bank does not cover some of the subjects that are of interest to the companies attending. 2. Not enough time being allocated to the presentations. 3. The late start of the programme. 4. The bank should go deeper into their explanations of the subjects that they teach. 5. Not enough training being done on bookkeeping and finance, and too much training being done on marketing. Source: Field Data (2019). 4.2.2 Objective Two: The Effects of SME Clinic on Business Management Capacity and Knowledge Before arriving at the relationship between the study’s variables, it is first necessary to examine the descriptive statistics for each of the remaining variables—business management capacity and business management knowledge. Looking at Table 4.10 which discusses business management capacity, respondents appeared to agree that OmniBank’s SME Clinics contributed towards an improvement in the skills of their 46 University of Ghana http://ugspace.ug.edu.gh employees (4.57, 0.424); improved business productivity (4.317, 0.5324); the more efficient use of workforce (4.24, 0.657); and improved employee morale (4.08, 0.534). There was uncertainty, however, regarding whether or not the programme improved employee retention (3.42, 0.424); or improved employee job satisfaction (3.32, 0.534). Furthermore, there was disagreement as to whether the SME Clinics improved the companies’ sales (2.14, 0.532); or reduced the need for employee supervision (2.09, 0.122). The overall mean for the construct was 3.522, therefore indicating uncertainty. Table 4. 11: Business Management Capacity Standard Statements Mean Deviation Resulted in the more efficient use of the workforce. 4.24 0.657 Resulted in an improvement in sales. 2.14 0.532 Improved the skills of employees. 4.57 0.424 Improved business productivity. 4.317 0.5324 Improved employee job satisfaction. 3.32 0.534 Improved employee retention. 3.42 0.424 Improved employee morale. 4.08 0.534 Reduced the need for employee supervision. 2.09 0.122 Overall Mean 3.522 Source: Field Data (2019). Then next construct that will be looked at is business knowledge. Generally speaking, respondents were in agreement that the SME Clinic facilitated by OmniBank improved their financial management skills (4.85, 0.535); improved their sales and marketing skills (4.55, 0.422); and improved their customer service skills (4.32, 0.122). There was uncertainty as to whether it improved their leadership skills (3.88, 0.424); improved their project management and planning skills (3.12, 0.597); or improved their communications and negotiation skills (3.09, 0.23). They 47 University of Ghana http://ugspace.ug.edu.gh were certain, however, that it did not improve their delegation and time management skills (2.13, 0.923); nor improve their networking skills (1.97, 0.234). The overall mean for this construct was 3.333, therefore indicating uncertainty. Table 4. 12: Business Management Knowledge Standard Statements Mean Deviation Financial management skills. 4.85 0.535 Sales and marketing skills. 4.55 0.422 Communication and negotiation skills. 3.09 0.23 Customer service skills. 4.317 0.5324 Leadership skills. 3.88 0.424 Project management and planning skills. 3.12 0.597 Delegation and time management skills 2.13 0.923 Problem solving skills. 2.09 0.122 Networking skills. 1.97 0.234 Overall Mean 3.333 Source: Field Data (2019). 4.2.2.1 Regression Analysis Concerning regression analysis, this study employed simple linear regression to determine the relationship that existed between OmniBank’s SME Clinic, the business management capacity of the participant SMEs, and the business management knowledge of these SMEs. The equations that were used to determine these relationships are as follows: SCt = C + iBCt + ei---------------------------------------------------------------------------------(1) SCt = C + iBKt + ei---------------------------------------------------------------------------------(2) 48 University of Ghana http://ugspace.ug.edu.gh Equation 1 was used to determine the relationship between the SME Clinic and business management capacity, whereas equation 2 was used to determine the relationship between the SME Clinic and business management knowledge. SME Clinic and Business Management Capacity As can be seen in Table 4.12, the relationship between OmniBank’s SME Clinic and the business management capacity of the SMEs in question is positive, but not statistically significant as it can be seen that the R2 (or coefficient of determination) is 0.4976, but the p-value exceeds 0.05 at 0.078. Nevertheless, the R2 figure demonstrates that OmniBank’s SME Clinic explained the variation in respondents’ business management capacity by only 49.76%. In addition, the coefficient of 1.45 indicates that for a 1% change in the amount of exposure to the SME Clinic, a 1.45% change in business management capacity would follow. The relationship between OmniBank’s SME Clinic and business management capacity can be seen in Table 4.12. Table 4. 13: Relationship between SME Clinic and Business Management Capacity Standardized Coefficients Model Beta R2 Adjusted R2 T Sig. 5.124 .001 SME Clinic 1.45 0.4976 0.4042 21.53 .078 Source: Researcher (2019). 49 University of Ghana http://ugspace.ug.edu.gh SME Clinic and Business Management Knowledge As can be seen in Table 4.13, the relationship between OmniBank’s SME Clinic and the business management knowledge of SMEs in question is both positive and statistically significant with an R2 figure of 0.7428 and a p-value of 0.031. The R2 figure demonstrates that OmniBank’s SME Clinic explained the variation in respondents’ business management knowledge by an impressive 74.28%. Additionally, the coefficient of 0.8472 indicates that for every 1% change in the amount of exposure to the SME Clinic, a 0.8472% change in business management knowledge would follow. The relationship between OmniBank’s SME Clinic and business management knowledge is shown in Table 4.13. Table 4. 14: Relationship between SME Clinic and Business Management Capacity Standardized Coefficients Model Beta R2 Adjusted R2 T Sig. 8.585 .001 SME Clinic 0.8472 0.7428 0.7196 14.131 .002 Source: Researcher (2019). 50 University of Ghana http://ugspace.ug.edu.gh 4.3 Discussion of Findings The first research objective was to determine the strengths and weaknesses of OmniBank’s SME Clinic. This was arrived at through administering questionnaires to 197 former participant SMEs and conducting semi-structured interviews with OmniBank’s Managing Director, Corporate Affairs Manager, Head of Project and Performance, Team Lead, the junior staff of its Performance Department, and junior staff of its Corporate Affairs Department. It was found that the major perceived strengths of the SME Clinic were that: the personnel of the SME Clinic was very knowledgeable; the information that was covered in the SME Clinic was relevant; the SME training was interesting; the training methods that were used matched the organizations’ requirements; the SME Clinic improved the knowledge and skills of employees; and that the SME Clinic improved the productivity of businesses. Regarding the weaknesses, on the other hand, it was discovered that the SME Clinic utilized too much theory, did not cover enough subjects, did not allocate enough time to its presentations, started late, and that it did not go very deep into the explanation. The second research objective was to investigate the effect of OmniBank’s SME Clinic on the business management capacity and knowledge of owners/managers of SMEs in the Accra Metropolis. This objective was fulfilled by administering questionnaires to 197 former SME participants and then performing simple linear regression. The results indicated that the relationship between OmniBank’s SME Clinic and the business management capacity of SMEs in the Accra Metropolis was positive, but not statistically significant judging from an R2 of 0.4976 and a p-value of 0.078. It was also found that the relationship between OmniBank’s SME Clinic and the business management knowledge of SMEs 51 University of Ghana http://ugspace.ug.edu.gh in Ghana was both positive and statistically significant judging from an R2 figure of 0.7428 and a p-value of 0.031. Unfortunately, for both of these objectives, no study with similar objectives could be found. Therefore, no comparison or contrast in results could be made. 52 University of Ghana http://ugspace.ug.edu.gh CHAPTER FIVE SUMMARY, CONCLUSIONS, AND RECOMMENDATIONS 5.0 Introduction This chapter summarizes the findings of the study, draws appropriate conclusions from the findings, and make recommendations based on these conclusions. In addition, the research limitations are described from the perception of the Researcher. Furthermore, directions for future research are proposed. 5.1 Summary of the Findings The purpose of this thesis was to determine the strengths and weaknesses of OmniBank’s SME Clinic and to investigate the effect of OmniBank’s SME Clinic on the business management capacity and knowledge of owners/managers of SMEs in the Accra Metropolis. Regarding the strengths of the SME Clinic, it was discovered that as gathered from the perceptions of both OmniBank’s staff and SME participants, these included the personnel of the SME Clinic being very knowledgeable; the information that was covered being relevant; the SME training being very interesting; the training methods that were used matching the organizations’ requirements; the SME Clinic having improved the knowledge and skillsets of companies’ employees; and the SME Clinic having improved the productivity of companies. Meanwhile, the weaknesses included the SME Clinic having utilized too much theory; the SME Clinic having not covered enough subjects; the SME Clinic having not allocated enough time to its presentations; the SME Clinic having started too late; and the SME Clinic having not gone very deep into explanations about the subjects that it presents. 53 University of Ghana http://ugspace.ug.edu.gh Regarding the effect that the SME Clinic had on the business management capacity and knowledge of owners/managers of SMEs in the Accra Metropolis, it was found that the relationship between OmniBank’s SME Clinic and the business management capacity of SMEs was positive, but not statistically significant; and that the relationship between OmniBank’s SME Clinic and the business management knowledge of SMEs was both positive and statistically significant. 5.2 Conclusions Before the study was conducted, it was determined that SMEs play a vital role in the economies of nations as they have the ability to create jobs, alleviate poverty, generate internal income, prompt investments in economies, increase the exports of nations, etc. Moreover, that this importance has prompted many individuals, institutions and schools in Ghana to improve upon the scanted growth of SMEs in view of the major challenges that they have faced including access to credit, a limited capacity to scale up poor corporate governance, and a lack of management capacity. Interestingly, the following significant aspects and challenges are what actually promoted OmniBank Ghana Limited to set up an SME Clinic to provide free training to SMEs. However, no studies had been conducted which made any attempt to determine the effect of SME clinics on SME performance or potency. This is what encouraged the Researcher to beg the following research questions:  What are the strengths and weaknesses of OmniBank’s SME Clinic?  What has been the effect of OmniBank’s SME Clinic on the business management capacity and knowledge of owners/managers of SMEs in the Accra Metropolis? 54 University of Ghana http://ugspace.ug.edu.gh After having conducted the study, it was discovered that since its inception, OmniBank’s SME Clinic has been performing with both strengths and weaknesses; with the strengths having overcome the weaknesses. Regarding the strengths, these mainly comprised of OmniBank’s personnel being very knowledgeable; the information presented being both relevant and interesting; the training methods used to match the participating companies’ requirements; the SME Clinic having improved the knowledge and skills of employees, and the SME Clinic having improved the productivity of participating companies. Meanwhile, the weaknesses were observed to be the SME Clinic having used too much theory; having started too late; not having covered enough subjects; not having allocated enough time to its presentations, and not having gone very deep into explanations about the subjects that it teaches. In addition, it was found that OmniBank’s SME Clinic has improved the business management capacity of SMEs in the Accra Metropolis positively, but not significantly; and that it has both positively and significantly improved the business management knowledge of these SMEs. Unfortunately, there was no accurate determination of the effect that the SME Clinic had on the need for employee supervision, job retention or job satisfaction. 5.3 Recommendations Based on the findings of the study, the following recommendations are being made to assist with the future operations of the SME Clinic: First off, as it was brought to light that there were a significant number of respondents who indicated that the SME Clinic had not covered enough relevant subjects, OmniBank should therefore routinely conduct a field study in order to determine the subjects that it should offer to SMEs in Ghana based on their needs. According to Wangmo’s (2016) assertion, doing such would 55 University of Ghana http://ugspace.ug.edu.gh allow for an organization to stay abreast with the needs and concerns of SMEs in a dynamic, ever- changing business environment. Another recommendation that is being made is for OmniBank to add approximately 15% more time to its presentations. However, in line with an argument made by Lineham (2014), there should be short breaks in between each of the modules in order to prevent boredom or information overload. Furthermore, there should also be strict rules with regard to tardiness to prevent participant SMEs from being late and blaming their not receiving sufficient content on OmniBank. It is also being recommended that instead of focusing too much on the theory which, according to Hayford (2012), can lead to what is commonly referred to as “paralysis by analysis,” OmniBank should rather utilize practical examples to explain to respondents how the ideas and concepts proposed relates to their businesses. And they should also be given the opportunity to come up with examples themselves. The last recommendation that is being made is for OmniBank to ask participants if they need further clarification after each module, and to provide this when requested. This is in order to fulfill their need for OmniBank to go deeper into explanations about the subjects that it teaches. 5.4 Limitations As for the limitations of this study, the first one that will be discussed is the fact that the staff of OmniBank was allowed to communicate their views in a qualitative manner (via interviews), whereas the former SME Clinic participants were forced to do so in only a quantitative manner (via questionnaires). In fact, only being able to communicate their perceived strengths and weaknesses in a quantitative manner limited respondents’ range of answers which, in hindsight, 56 University of Ghana http://ugspace.ug.edu.gh was an error in judgment on the part of the Researcher. At least, they should have been given a section with which to indicate “other” perceived strengths and weaknesses. Another limitation was with respect to the sample size of respondents that were used. As previously mentioned, to date, over 400 respondents have participated in OmniBank’s SME Clinic, but only 197 were given the opportunity to provide their views; for which only 125 were able to effectively do so. Unfortunately, this could have skewed the findings in the sense that it represents the views and opinions of the majority of the sample, but not the majority of the research population. Nevertheless, it was argued by Creswell (2013) that, at times, sample sizes of less than 5% of a given research population can produce accurate results. 5.5 Directions for Future Research This study has been successful to the extent that it has been able to determine the strengths and weaknesses of OmniBank’s SME Clinic, and investigate the effect of OmniBank’s SME Clinic on the business management capacity and knowledge of owners/managers of SMEs in the Accra Metropolis. This is while experiencing limitations with respect to the sample size of respondents and the mode in which certain respondents (former participants) were surveyed. However, it should be mentioned that certain questions and issues arose during the course of the study which suggests that additional research must be conducted on the subject matter. These questions and issues are with regard to:  The actual effect of SME clinics on the need for employee supervision.  The actual effect of SME clinics on job retention.  The actual effect of SME clinics on employee job satisfaction. 57 University of Ghana http://ugspace.ug.edu.gh Additionally, the differences in methodologies and results between OmniBank’s SME Clinic and other SME clinics nationwide / worldwide could also be explored. Perhaps there are some mistakes that are being made by OmniBank or other SME clinic providers; and also some things that are being done correctly. 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Retrieved 8 June 2019, from https://www.worldbank.org/en/country/ghana/overview 62 University of Ghana http://ugspace.ug.edu.gh APPENDIX Appendix A: Research Questionnaire I am a final year student at the University of Ghana Business School (UGBS) pursuing an MSc degree in Development Finance. In partial fulfillment of the requirements for this degree, I am undertaking a study on the topic: “The Effect of OmniBank’s SME Clinic on business management capacity and knowledge: The case of the Accra Metropolis.” Please tick the box next to the most appropriate answer. Any information that you provide will be used solely for academic purposes. Section A: Demographic / Personal Information 1. Gender: Male [ ] Female [ ] 2. Age: 18 – 30 years [ ] 31 – 40 years [ ] 41 – 50 years [ ] Above 50 years [ ] 3. Educational Background: JHS (or equivalent) [ ] SHS (or equivalent) [ ] Diploma/HND [ ] Bachelor’s Degree [ ] Master’s Degree [ ] Professional Certification [ ] 63 University of Ghana http://ugspace.ug.edu.gh 4. Currently, what position do you occupy in your organization? Managing Director [ ] Executive [ ] Senior Manager [ ] Middle Manager [ ] Lower Management [ ] Other__________________________________ [ ] (Please Indicate) Section B: Firm Information 5. What industry(ies) is your firm currently involved in? (check all that apply) Construction [ ] Transportation and storage [ ] Financial and insurance activities [ ] Trade, repair of vehicles, household goods [ ] Financial intermediation services [ ] Hotels and restaurants [ ] Manufacturing [ ] Other_______________________________ (Please Specify) 6. How many years has your company been operating? Less than 1 year [ ] Between 1 and 5 years [ ] Between 5 and 10 years [ ] Over 10 years [ ] Other__________________________________ [ ] (Please Indicate) 64 University of Ghana http://ugspace.ug.edu.gh Section C: Strengths and Weaknesses of SME Clinic 7. On a scale of 1 to 5, with 1 indicating “Strongly Disagree,” 2 indicating “Disagree,” 3 indicating “Not Sure,” 4 indicating “Agree,” and 5 signifying “Strongly Agree,” please indicate your perceptions where it concerns the following statements. Statements Strongly Strongly Disagree Agree a. The personnel of the SME Clinic were very 1 2 3 4 5 knowledgeable. b. The cost of the SME Clinic was reasonable. 1 2 3 4 5 c. The training method(s) that was/were used matched 1 2 3 4 5 the companies’ requirements. d. The SME Clinic improved the skills of our 1 2 3 4 5 employees. e. The SME Clinic improved the productivity of our 1 2 3 4 5 business. f. The SME training was interesting. 1 2 3 4 5 g. The SME Clinic has resulted in an improvement in employee job satisfaction. h. The SME Clinic has resulted in an improvement in 1 2 3 4 5 job retention. i. The information covered in the SME Clinic was 1 2 3 4 5 relevant. j. The SME Clinic has reduced the need for employee 1 2 3 4 5 supervision. k. The SME Clinic was a waste of time. 1 2 3 4 5 l. The SME Clinic was a waste of money. 1 2 3 4 5 m. The SME Clinic utilized too much theory. 1 2 3 4 5 n. The SME Clinic was too long. 1 2 3 4 5 65 University of Ghana http://ugspace.ug.edu.gh Section D: Effect on Employee Performance 7. On a scale of 1 to 5, with 1 indicating “Strongly Disagree,” 2 indicating “Disagree,” 3 indicating “Not Sure,” 4 indicating “Agree,” and 5 signifying “Strongly Agree,” please indicate your perceptions where it concerns the following statements. Statements Strongly Strongly Disagree Agree Business Management Capacity a. The SME Clinic has resulted in the more efficient 1 2 3 4 5 use of our workforce. b. The SME Clinic has resulted in an improvement in 1 2 3 4 5 our sales. c. The SME Clinic improved the skills of our 1 2 3 4 5 employees. d. The SME Clinic improved the productivity of our 1 2 3 4 5 business. e. The SME Clinic has resulted in an improvement in employee job satisfaction. f. The SME Clinic has resulted in an improvement in 1 2 3 4 5 employee retention. g. The SME Clinic has resulted in an improvement in 1 2 3 4 5 employee morale. h. The SME Clinic has reduced the need for employee 1 2 3 4 5 supervision. Business Knowledge a. The SME Clinic improved our financial 1 2 3 4 5 management skills. b. The SME Clinic improved our sales and marketing 1 2 3 4 5 skills. c. The SME Clinic improved our communication and 1 2 3 4 5 negotiation skills. 66 University of Ghana http://ugspace.ug.edu.gh d. The SME Clinic improved our customer service 1 2 3 4 5 skills. e. The SME Clinic improved our leadership skills. 1 2 3 4 5 f. The SME Clinic improved our project management 1 2 3 4 5 and planning skills. g. The SME Clinic improved our delegation and time 1 2 3 4 5 management skills. h. The SME Clinic improved our problem solving 1 2 3 4 5 skills. i. The SME Clinic improved our networking skills. 1 2 3 4 5 Thank you for participating in this survey. 67