BUSINESS MANAGEMENT

Business Management

Business Management

Introduction

In this paper we will focus on some selected question i.e. there are five questions that will be answered in this paper. The first question related with the management of small and large firms that how much they differ? It is clear that the the size of an organization could possibly leverage the effectiveness of diverse quality management practices. The small firms may lack managerial expertise than that of large firm. The second question related with the characteristics of small firms that distinguish from large firm. Large firms may distinguish from high value of quality management approach. Mostly 90% of employees lacks professional managerial skills. Furthermore, small business managers do not see incentives to be critical to advancing productivity. While, third question ask ask about the culture of UK that encourages entrepreneurship and business start ups. The UK Government also needs to address an enterprise gap of ambition, demographics and skills if it is to kick-start the entrepreneurial decade our economy urgently needs. This may impact on the economy of the country. The fourth question determines the limitation of small businesses. The Small companies are accomplished with minimum investment. So that the businesses are run with the plan to make more earnings with the least allowance of cash invested in a business. The last question related with entrepreneur who owns an enterprise, company or business venture and assumes significant responsibility for the risks and the outcome of it with the intention of making profitable returns.



Discussion and Analysis

Management of small firms differ from the management of large one

Long-term survival requires that companies be handled in a responsible and ethical manner by addressing environmental issues and employees career goals. There is furthermore the topic of obeying with the law of the land. (Brooke,1951,960) The information regarding the relative strengths and weaknesses of management of small firms reveals that the TQM principles such as employee participation and flexibility could, in fact, be more successfully applied in small firms than in large ones. For example, small business tends to advocate conception and can resource products at lower pricing due to low overhead. On the other hand, investigators argue that small firms lack clout with suppliers and need adequate capital. They also lack expert managerial expertise, which accounts for about 90% of little enterprise failures. These are critical facets for applying TQM. For example, scarcity of clout with suppliers could impact a firm's proficiency to dictate the quality of incoming material. Also, deficiency of capital may fix a small firm from speculating in high worth processes. Furthermore, knowledgeable and engrossed authorities is needed for successfully implementing TQM. Human resource management priorities and the traditions of low firms also disagree from those of wide firms. Small business owners and executives tends to look human resource management plans as being less meaningful than commerce, selling, and planning. (Blumstein ,1976,44). This presumes that the dimensions of an organization by itself does not limit its quality management ...