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Korea Federation of Small & Medium Business - Essay Example
Korea Federation of Small & Medium Business was established in 1962, after the SMEs act was declared and enacted in the constitution in 1961. The federation operated and continued to expand and in 1974, it opened its first launch branch in Daegu/Gyongkik. From this one the federation has been able to open other thirteen branches nationwide…
The federation continued to grow and in 1994, the Workface Service Corps for following workers was established. In 1997, small and medium business training centre was established.
There was marked growth on the federation in the 1990s which continued in the 2000s. In 2004, the federation establish outlet in Daegu and in 2004, it opened an agency office in Wonju, Gangwon-do which brought to seven the number of agency offices national wide. In 2006, the federation changed its name to Korea federation of small and medium business (Kbiz). This is an outline of a brief history of how the federation has evolved since the 1960s to play it's currently role in the economy and in the business world.
During its establishment the federation had set vision which was defined by a set of objectives. Kbiz had the vision of becoming a reliable partner of small and medium enterprises in order to realize dreams and goals in their operation. Therefore it was aimed at standing at the centre of the creation of new opportunity and future value offering the necessary support to the SMEs to help them continue with their innovation, and take them through their challenges.
In order to achieve this it had a hope model that outlined what the federal is aim at achieving. ...