Mapping Critical Success Factors Across MSME Enterprise Status: A Correspondence Analysis Approach in Telangana

Micro, Small and Medium Enterprises (MSMEs), Critical Success Factors (CSF), Entrepreneurial Success, Enterprise Status

Study focus on the relation with the Critical Success Factors(CSFs) and the status of the enterprise with the Micro, Small and Medium Enterprises (MSMEs) sectors in the state of Telangana, India. Random sampling from the MSME units with udyam registrations are considered for the data collection by using a structured questionnaire. Correspondence Analysis is done to identify the relation among the CSFs and MSME status. Findings of the research include that Market related and management factors are inclined by Micro Enterprises, whereas technological, government and social factors are closely associated with the Small Enterprises; Individual and financial factors obsessed Medium Enterprises. Strategic decision making for the MSME development is the need identified along with the policy interventions to be modified according to the market requirements. Suggestions of the study include: success rate of Micro enterprises is enhanced through the integration of individual, technological and financial factors. Personal leadership and financial planning can be encouraged to strengthen the Small enterprsies and the Medium enterprises benefit with the study of market dynamics, innovation in technology and knowledge on government schemes.