| dc.description.abstract | The general conclusion from literature on major problems faced by SMEs in the jewelry exporting
sector are financial issues, poor management skills and marketing expertise, poor IT Infrastructure,
unsupportive policies, lack of proper communication on strategies and limited implementation of
strategies. Literature reveals that if the above are handled well, it results in organizations yielding
improved sales, profitability, improved product offering, increased brand awareness as well as
reduced costs. While this literature has been confined to some parts of the world and across various
other industries, it is not so in the jewelry industry especially in Zimbabwe; therefore, the purpose of
this research was to try and fill the research gap by doing an evaluation of the major problems,
implications and key success factors in the fine jewelry industry of Zimbabwe. The research its
findings, conclusions and potential applications were aimed at adding value for the policy makers in
the country, the corporate world, and the academic community. This research was based on a survey
done in the jewelry industries operating in precious stones and metals.
Empirical data was obtained through questionnaires from management and staff. The respondents
were taken across the board from directors, managers to non-managers. In-depth information was
acquired from respondents through the use of structured and unstructured questions. The researcher
employed a both quantitative and qualitative philosophy. Data displays in the form of content analytic
summary tables and graphs were used in the analysis.
The study found out that most of companies in the jewelry industry are poorly financed and in some
cases funds are misused. Poor management skills, poor technology infrastructure and poor
communication characterize most of them in the industry. The study also found that the staff
complement in the industry is highly short of marketing expertise. There is limited implementation of
marketing strategy and while the theoretical benefits are evident from the feeble marketing strategy
implementation being done, the industry's products are still unknown in the market.
The research validates the proposition that Lack of marketing expertise has a negative impact on
business growth in SMEs in the jewelry exporting sector in Zimbabwe. The study recommends that
educational authorities should look into making custom-made marketing, policy redrafting and
operations qualifications for jewelry industry. Captains of the industry are recommended to send their
staff for such trainings. It is further recommended that managers across companies in the
v
jewelry industry should embark on a full scale implementation of any new marketing and exporting
strategies, with emphasis on control measures to check its effectiveness. The regulatory authorities
should remove adverse licensing and policies to enable an environment where the industry can grow. | en_US |
