Data on Contract management practices adopted by small and medium enterprises

Data on Contract management practices adopted by small and medium enterprises. 

The objective aimed to measure the contract management practices adopted by small and medium enterprises.  The research objective measured four statements which include, practicing contract risk management, dispute resolution knowledge, contracting terms and conditions knowledge and traditional purchasing practice

 Practicing contract risk management

The statement aimed to know whether small and medium enterprises are practicing contract risk management. The study indicated the following level of respondent’s response on the statement.

Table Business registration knowledge

Source: Field Data, (2020)

The findings from table 4.13 show that, 68.5% of the total respondents disagreed that most of the businessmen are not practicing contract risk management strategies, while 18.3% of the respondents agreed with this statement.

This implies that whenever there is a loss as a consequence of uncertainty in their business they are not able to identify, analyze evaluate, monitor and review these risks. This was explained by Kibeshi, (2019) who explained five ways of managing procurement contract risk with contract management as putting it in writing, assigning risk, audit and compliance, holding supplies accountable and force majeure.

Dispute resolution knowledge

The statement aimed to know whether small and medium enterprises are having enough knowledge in dispute resolution or not. The study indicated the following level of respondent’s response on the statement.

Table  Dispute resolution knowledge

Source: Field Data, (2020)

The findings from table 4.14 show that, 67.9% of the total respondents disagreed that most of the businessmen are not aware on bet ways of resolving dispute in business, while 28.8% of the respondents agreed with this statement.

This implies that whenever there is a kind of disagreement between two business over the terms and agreements signed between two or more partners most of people engaging in business are not aware on the process of solving the conflict. These are supported by Davel, (2015) who put forward different ways of mediating conflicts in business such as litigation involving court help, arbitration, and mediation which help to maintain a healthy and effective business relationship after the dispute.

Contracting terms and conditions knowledge

Data on Contract management practices adopted by small and medium enterprises. The statement aimed to know whether small and medium enterprises are aware and using contracting terms and conditions in their business. The study indicated the following level of respondent’s response on the statement.

Table Contracting terms and conditions knowledge

Source: Field Data, (2020)

The findings from table 4.15 show that, 74.0% of the total respondents disagreed that most of small and medium enterprises are not aware and using contracting terms and conditions in purchasing and selling their products while 18.3% of the respondents agreed with this statement.

Data on Contract management practices adopted by small and medium enterprises

This implies that most of businessmen are not following on the terms such as legal status of parties, obligations of contractors, long-term and short term agreements, price and payments. Olusola, (2017) recommended to people engaging in business that following the terms and conditions of business will eliminate effects such as disputes, misunderstandings, losses within business and will provide a clear environment between business partners.

Traditional purchasing practice

Data on Contract management practices adopted by small and medium enterprises. The statement aimed to know whether small and medium enterprises using traditional purchasing practice for their business. The study indicated the following level of respondent’s response on the statement.

Table Traditional purchasing practice

Source: Field Data, (2020)

The findings from table 4.13 show that, 69.9% of the total respondents disagreed that most of the businessmen are not using traditional practice in conducting business, while 28.8% of the respondents agreed with this statement.

Data on Contract management practices adopted by small and medium enterprises. This implies that most people business people do not focus on negotiating with suppliers and ensuring that best price is being charged for certain products. These correlated with Robert, (2015) who explained key steps should be followed when purchasing products which involve request to purchase, supplier selection, purchase order, fulfilments, goods recipient and supplier payments.