IS SMALL BEAUTIFUL? Name: Class: Instructor: Institution: Date: Is Small Beautiful? Introduction Small business enterprises face a lot of competition in the current market worldwide. So much of different dimensions in the styles of maintaining a good business crop up and some of them need to be considered…
In reality, approaches to business management may be based on entrepreneurial constituents. These will ultimately describe at a greater depth articulate the small business field management, something that is the center of focus in this piece of writing. Entrepreneurial style of management in small and medium-sized enterprises (SMEs) is anticipated is associated with success. This means that, through the styles of management, a small business firm would experience a high growth from one level to another. It is true to say that entrepreneurial management is associated with type of firm; that is, growth rate. The growth rate in itself may be either high or low as Eugene, Hampson, Ian and Beryl (2003) explain in their work. This work will for sure check on variability that exists in small business firms and the kinds and their managerial styles. Literature Small firms are numerous and operational in virtually all parts of the globe. They have a sense of global competence, and a thought about them introduces a deal of effectiveness in terms of management and style. It is better to understand the meaning and the relationship that the managers of the firms have with those that help them run their business. In the first place, it is imperative to understand the meaning of entrepreneurship. ...
Following the small nature of firms, they become easy to manage in the hunt for their growth and profitability. This comes because of innovative ideas and behaviors that an entrepreneur allies with. Character traits of an entrepreneur who is success oriented clearly spring up. They cover all most aspects of growth-targeted areas that we need to see in the entrepreneurs. We will consider the character traits in a broad manner to see how successful small business owners should operate. To begin with, there is so much to do with personality traits. This makes an entrepreneur legible enough to discern what to do at the very appropriate moment. Personality traits in any small business owner cannot allow for an exceptional thing that may ruin the business. Attitude of any small business owner boosts the general outcome of the business. In fact, a positive attitude has all it takes to see success in the business. In this regard, it instills a better level of self- effectiveness, strength of a higher order and so on. In many cases, eagerness to change according to the current situations that face SMEs is a real stepping-stone to success. This is better off when still when a small business owner shows a great deal of interest in getting involved in creativity and innovation. A business becomes so beautiful to manage in the sense where there is competition aggression and that burning need for success and achievement. Consequently, these are what constitute the logic of small business being beautiful. In a small business enterprise, planning is considerably easier. Its management is swift since it offers a friendly environment for the owners and their customers at large. This does not ...
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Small businesses are generally taken to be those that have less than 50 employees, however, other definitions consider that a small firm can hire up to 100 employees, or that other factors need to be taken into account, such as the type of ownership (Atkinson, 2008).
This study is attempts to critically appraise the management styles within companies of various sizes, in order to ascertain and illustrate the impact that variations in management styles may have upon the employment relationship.
Very often small business is positioned as small fish in the ocean, where only strong sharks can survive due to strict conditions, rapidly changing environment and high competition. On the other hand, in the modern globalized world being an owner of a small business warrants the need to have a strong position to withstand the challenges and hardships in case business owners’ rights are not protected.
In most cases, small businesses are referred to as entrepreneurial opportunities and small business owners are called entrepreneurs. A small business can be in auto repair, financial audits, hair styling, computer services, candy production, or clothe retailing among others.
Entrepreneurship has provided the platform for individual investment that is the dominant driver for small business achievements. Currently, discourse and political debate focuses on structures to stimulate, support and evaluate enterprise through aid to overcome barriers to growth.
The respective managers should understand the aspect of financial management in order to succeed in their day to day operations. Financial management is an activity which involves managing funds and financial activities in a business organization in order to meet the business demands.
Globalisation in one of its truest and most literal meanings means the process that is used to make a local phenomena or a concept a global or a globally accepted one and to market it through out the world in order to achieve certain organizations or for that matter any sort of goal.
Among the key factors contributing to such failure lies the lack of proper information systems and monitoring strategy of the business operations and financial aspects (Venter, Eden & King 2004). This results in poor business
In the field of entrepreneurship study, the concept of personality traits and psychological traits has been a subject of a number of debates and controversies. Personality Traits is one of the most popular research areas and it is also one of the subjects which has one of the
ategic management in small firms pertains to business planning approach within such companies rather than on the study of management processes and the development of strategic management within smaller entities (Mazzarol, 2004).
This paper is devoted towards the development of
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