Management Activity Analysis in Small and Medium Sized Enterprise and Multinational Companies' Context

Knowledge is considered as one of the most important and competitive resource for sustenance of the organisation (Zack, 1999). It can be compared to the strategic resource that can be used and applied in various frames of the organisation. Experienced managers in the organisations believe that company can receive strategic advantage through knowledge and not the strategies or actions implemented by competitors. Knowledge can be regarded as a strong approach that opens numerous ways of success. It is that weapon that help organisation to evaluate solutions in financial and other professional difficulties.

SMEs play an essential role in the Singapore economy as they account for more than 50% of the economic growth and 70% of employment. The government has introduced various schemes and programs for SMEs to constantly improve their technology and infrastructure so as to sustain and generate higher economic growth.

Through our examination of Hislop (2013) and other supporting material during this class, we have discovered the characteristics and nature of knowledge management strategy. Using my organization as a back drop it has become clear the one does not merely undertake a knowledge management program and expect success. Instead, it requires a thorough examination of the organization, essential knowledge, key roles, policies, politics, available technology

Knowledge management was defined as the turning of information into actionable knowledge which can be accessed by people who can apply it. Robbins (2003) gives a time perspective in his definition of knowledge management. He mentions as part of knowledge management the distribution of the right information to the right people at the right time. Lytras et al (2002) gives a definition of knowledge management which emphasises the purpose of knowledge management. In the definition creation of new capabilities, enablement for superior performance, encouraging innovation and enhancement of customer value were mentioned. For the purpose of this study the researcher summarised knowledge management as the intentional process of coordinating people, technology and systems to optimise creation and sharing of intellectual

While Knowledge Management (KM) is important in any business however, there is no real agreed upon definition. KM is a concept that includes the

To get sustainable competitive advantage, the significant role of knowledge management has been explored. Knowledge management causes companies’ core competencies to become stronger. Therefore, competitive advantage has been more sustainable. Knowledge management is perceived as the development of organizing the intangible asset of a firm. The economic and production level of a company relies more on its brainpower, human capital and invisible competences than its physical assets. The function of each business relies upon the knowledge of its human capital.

The introduction of three simple key stages of strategies; Forming, Consolidating & Extending were explained comprehensively giving readers a good structured relationship strategies concepts and illustrating various SMEs attempts. Particularly I strongly agree the written points on the importance for the need for both SME and MNC in building commitment on partnership and agreements but must maintain honest, ethical behavior in business approach on both sides to ensure no abuse of power and status that may severely impact the law and relationship through un-resolving dispute highly may affect the entire company moral, reputation, creditability and team excellence. The author also emphasis the importance of the need for SME to have deep understanding of the competitive environment and obtain key objective appraisal of resources (intangible) is essential.

One interesting finding related to the growth of SMEs and the required competencies is that of the Churchill and Lewis (1983), and Scott & Bruce (1987). In their search for the development of a

In a competitive global market, micro, small and medium-sized enterprises (SMEs) play an increasingly important role in a nation’s economy. Today they make a substantial contribution to job creation, innovation, as well as entrepreneurial skills. A report conducted by European Commision(2005) stated that in the enlarged European Union of 25 countries, 23 million SMEs provide about 75 million jobs and account for 99% of all enterprise. SMEs are also the vital attributes for lifting the productivity of economy. This is primarily because SMEs are been considered as having a key role to play in providing new products. Take UK for example, SMEs have become more and more dynamic. SMEs have enjoyed higher productivity growth than

The purpose of this report is to introduce an overview about SMEs. A critical evaluation and analysis of two small and medium enterprises, Icosium and NotontheHighStreet.com will be presented in this report and also will include the following steps: the business concept and sources of competitive advantage, the current demand and the competitive environment, the growth and development of the business to date, the challenges of managing and running the business, an estimate of the current valuation of the business, the SMEs current growth and development strategy and future recommendation. Furthermore in work will include a conclusion and recommendation.

According to a survey on the Brazil economy, Haner (2011) showed that a major contribution to the growth of the Brazilian economy is due to the impact of the small and medium scale enterprises (SMEs). It is estimated that the SMEs account for 20% of the Gross domestic product (GDP) and 54% of total formal employment in the country (Office of Evaluation and Oversight [OVE] 2014). SMEs also play an important role in the economic development in Malaysia accounting for 33% of GDP, 58% of employment and 19% of export (Hashim 2015). There is a higher survival rate of SMEs in Malaysia with 97.3% of business establishments recognised as SMEs (Khalique 2011; Lim & Xavier 2015).

For example, in Canada, companies has to regard as those SMEs with less than 500 employees, while on the other hand, according to[Meghana Ayyagari, and Thorsten Beck and Asli Demirguc- Dagon, 2003 4], SME business is stated as the number of employees of these enterprises that employs 0-250 staff.

The research has shown that use of knowledge management can help in understanding the performance in the organizations and (Davenport and Prusak, 1998). Other more recent studies like done by Fugate et al. (2008) and Huang and Chen (2009) also have talked on the importance of knowledge management systems and their positive effect on organizational performance.

Small and medium-sized enterprises (SMEs) are a key source of innovation and make a significant contribution to the economy of New Zealand in terms of employment, output and growth. There is no universally definition of an SME in New Zealand. However, from a government perspective, they are considered to be firms having the following traits: personal ownership and management, having few specialist managerial employees, and they are not part of a larger business organization. These traits are typically demonstrated by SMEs in New Zealand, so New Zealand politicians and business organizations are usually define SMEs as enterprises with 19 or fewer employees. According to report 2011, SMEs account for 31% of total employment, and contribute 40% total outputs (Ministry of Economic Development, 2011).

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.