Topic: Small and Medium Enterprises
The major characteristic’s that SME has to possess inorder to reach Global Stage as perceived by many Leading Business Consultants, Managers are:
1) Entrepreneurial drive
2) Shared purpose
3) Expansion plans
4) Allocation of Limited Resources
An Entrepreneur of Small and Medium Scale Enterprises has to have strong passion to take company at the Global Level. He also has to induce the spirit within himself to his fellow men too. He has to sustain the positive energy throughout the expansion plan and also after post-expansion situation. He should never let his spirits go down at any point of time even in the worst phase. Some of the past SME’s have turned out to be best Operating Multinational Companies at present mainly because of the Entrepreneurs vision to take the Enterprise to greater heights.
All the subsidiaries of an Organisation should work as one coherent bundle in order to achieve the company’s objective. They should share common purpose and work as a single unit to achive this purpose. The purpose or objective should be reviewed at regular intervals as the company’s status changes and it should be manipulated to meet the changing requirements. Tata Group stands as a wonderful example who have achieved great success in the corporate Sector by sharing common values and achieving it by working as single entity.
As perceived by many, Expansion plans are not dictated by the Company’s Administrative and Management unit but by the Competitive Business World. Entry of Business at Global Level largely depends on the necessity of the Manufactured prouduct or services delivered by the company. Inorder for SME to carry its operation at Global level, Entrepreneur has to basically identify the scope of product or services in the market and has to constantly keep in touch with market situation and find suitable time to take it to higher level. He has to get the best people involved in the pre-Expansion plans and Post-Expansion plans to ensure that expansion is taking place at the right pace and in a proper manner.
One of the major tasks that define the Entrepreneurs ability to handle the situation is the allocation of limited Resources to gain maximum benefit while achieving best efficieny possible. The key to taking sme to Global stage largely depends on this factor to large extent.
All of these factors should operate with great synergy between them where ever necessary and finally yield Profit for the organisation which happens to be the main motive for Entrepreneurs to take their Organisation to Global Level.
Source: Economic Times, November 25, 2008
