Analysis Of Small And Medium Sized Firms

The purpose of this essay is to critically discuss 2 debate topics using both opposing sides, for and against, in order to create an academic argument for each topic. Debate 1 will argue the points of “Starting a small business is too risky or can anyone do it?” will be supported with references of journals and articles. Debate 2 will analyse the for and against argument for the topic of “To fail to plan is to plan to fail: you must plan” where academic articles will be used to back up each point made to for each side of the debate. Business has been a foundation in society for centuries but only within the past 10 years has the UK government promoted SME’s (small and medium enterprises) and encouraged the public to invest in creating a business with incentive grants and education programmes such as Business gateway and the hatchery.

Small businesses are the backbone of national economy and play a leading role in innovations as well as in creating jobs. Small business has the intrinsic needs to growth. Obvious contributions of the growth of small businesses include the increased return on investment and job creation. The interesting and valuable question is how small business grows and are all small businesses growing? It is no surprise that the growth of business is a core topic both in organization theory and entrepreneurship, both are interested in the process and causes of business growth. Stages of growth models, which assume that business go through some distinct stages from birth to maturity, have been the most popular theoretical approach in academic to understand small business growth. Although the stages model of growth has been criticized for being too sequential and linear which is unrealistic and inconsistent with empirical evidence (e.g. Phelps et al., 2007; Levie and Lichtenstein 2010), various new stages models of business growth have been developed since the 1960s.

Weak online shopping facility: The Company is relatively new in online selling and need improvement in this regards.

According to Reece and O’ Grady (1987), average person uses a small business to refer to an owner-managed business that only employs people not more than twenty or twenty five. The major reason for going into business for one’s self is the desire to be one’s own boss. Working capital, the money necessary to find he business regular operations. Also, the key element in defining an entrepreneur is that they take risks. Each year, a million or so people balance the rewards and the risks of

Financial ratios are critical when it comes to the determination of not only the performance but also the financial health as well as stability of any given firm. In that regard, as a small business owner, I would utilize a number of ratios to find out how my business is really performing. Some of the ratios I would make use of in this case include the current ratio, debt ratio and net profit margin. According to Baker and Powell (2005), of all the liquidity ratios, the current ratio happens to be the most widely utilized. This ratio according to the authors "is computed by dividing the firm's current assets by its current liabilities." As a small business owner, this ratio would help me determine my business' ability and readiness to settle its short term obligations. On the other hand, the debt ratio according to Baker and Powell (2005) "measures the percentage of a firm's total assets financed by debt." It is essentially computed by dividing the sum of all the liabilities of a firm with the sum of its assets. A debt ratio of more than 1 in the case of my business would be an indicator that the value of the entity's assets is lower that the value of its debt. The reverse is true. The net profit margin according to Baker and Powell (2005) "measures the percentage of sales that result in net income." In the author's opinion, the same is computed by dividing the net income figure with the net

Small Studio is a graphic design and marketing firm providing a wide array of visual advertising and website design solutions for businesses and individuals. Based in Melbourne, Australia, Small Studio offers clients a complete package from advertising and design strategy, to content development, to the final artistic expression of the project itself. True to their name, the company is a small group of talented individuals whose philosophy is that a small team can work more closely with clients to deliver the desired results.

The medium sized sports company that is planning to outsource its business activities to a company in another country has the moral responsibility to fairly and justly contribute for the betterment of the other country with moderate level working conditions and lack of resources. Garret Hardin and Peter Singer propose two different perspectives of ethics. While Garret Hardin emphasizes that there are only limited resources on the earth and due to issues like poverty, overpopulation, and insufficient productivity in many countries, these resources are inappropriately utilized. The controls and regulations to give these resources in the hands of few competent people with particular qualities are harsh realities of this global economic perspective.

Our work is the most important part of our lives. No matter where we are or what we do, we can't escape our responibilities in order to support ourselves at least. Some people prefer to work in large comanies, others prefer to work within small companies. In my opinion, I would difinetely work within a small company for a few reasons.

“Tiny Tees” is a small company which specializes in the design of baby and toddler t-shirts. The way the business is organised is that the owner of the business designs t-shirts for babies and toddlers and sends the designs to the manufactures in order to print them in the selected fabrics. The customers of the company are independent retailers and the House of Frazer. The t-shirts are sent to the retailers by post. In year 7, the sales of the company were halved.

Its developmental and transformative qualities particularly on emerging global economies, has given great significance to the concept of entrepreneurship. The impact of entrepreneurship has more contributory value is most The concept of entrepreneurship has received significant global attention across the developed and developing countries due to its capacity to transform the economy (Le & Nguyen, 2009:867). The Global Entrepreneurship Monitor (2011:8) revealed that there are approximately 400 million entrepreneurs across 54 countries operating start-up businesses. These countries are grouped into three stages of economic development driven by: factor, efficiency and innovation (GEM, 2009:5). This is based on the level of

Innovation plays a key part in the life of small and medium enterprises (SMEs) from the industrial clusters. It is noticed a decline in the importance of factors sources of external economies) that empowered the initial outset of the firms. The long used external sources were starting to lose grip in the face of the needed environmental efficiency (Bianchi, 1998).

Entrepreneurship is difficult to define throughout its history research. Even nowadays, this concept is still a debatable point (Rajendra, et al., 2017). Based on four decades of research, Gartner (1988) concludes that entrepreneurs are founders of new firms. Shane and Venkataraman (2000) consider entrepreneurship as “a new venture’s risk-taking endeavor seeking an opportunity” and Fortunato (2014) adds innovative value into the concept of entrepreneurship. Thus, research on the definition of entrepreneurship continue. According to those diverse views, I will interpret six unique entrepreneurial characteristics and theoretically analyze each one. Risk taker, need for achievement and proactivity as my strengthens will be illustrated with my experience. Innovativeness, internal locus of control and tolerance for ambiguity are my weaknesses, thus I will describe relevant successful Entrepreneurs’ experiences.

Thesis Statement: The economy is for ever changing toward what has control of demands, the environment of entrepreneurship is high on the charts, however the small business are surviving equally with the large businesses.

This case study will identify an overview theory of power, conflict and legal issues in a Small and Median Business Enterprise (SME) ‘Grove Juice’. It will develop an integrated overview of Grove Juice background and define concepts related to the distribution channel of a Business to Business (B2B) relationship in marketing. Through examining B2B relationships for the Grove Juice company, readers will have a better understanding of power and conflict issues that are associated with the business. It will also explain how the issues in products and pricing can significantly influence the target market and consumer behaviour. It will highlight the positives and negatives of a B2B relationship and the disadvantages of Grove Juice competing

The importance of small and Micro Enterprises (SMEs) in the economy of any country cannot be overlooked. In fact for nearly 15 years, most researchers dealing with economic planning have highlighted the significance of these enterprises stating that they are a key player in realizing any country’s economic goals. As such, governments as well as other organizations with interest in development are laying plans and strategies to promote the establishment of Small and Micro Enterprises. This is seen as a move to ensure that there is full participation of SMEs in the country’s economy. The Small and Micro Enterprises have been known to contribute to a large extend as a source of innovation, entrepreneurial skills as well as source of employment. For example, statistics in 25countries of the European Union show that 99% of the jobs provided to its citizens come from the micro, small and medium-sized enterprises. Rowe (2008) points out that the British economy relies heavily on the participation of SMEs. On the other hand, 99% of the UK’s economy is composed of small and micro enterprises.