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Small Business Management - Literature review Example

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The author fo this review "Small Business Management" touches upon small business enterprises that face a lot of competition in the current market worldwide. Admittedly, much of different dimensions in the styles of maintaining a good business crop up and some of them need to be considered. …
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Small Business Management
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Download file to see previous pages In reality, approaches to business management may be based on entrepreneurial constituents. These will ultimately describe at a greater depth articulate the small business field management, something that is the center of focus in this piece of writing. Entrepreneurial style of management in small and medium-sized enterprises (SMEs) is anticipated is associated with success. This means that, through the styles of management, a small business firm would experience high growth from one level to another. It is true to say that entrepreneurial management is associated with a type of firm; that is, growth rate. The growth rate in itself may be either high or low as Eugene, Hampson, Ian, and Beryl (2003) explain in their work. This work will for sure check on the variability that exists in small business firms and the kinds and their managerial styles. Literature Small firms are numerous and operational in virtually all parts of the globe. They have a sense of global competence, and thought about them introduces a deal of effectiveness in terms of management and style. It is better to understand the meaning and the relationship that the managers of the firms have with those that help them run their business. In the first place, it is imperative to understand the meaning of entrepreneurship. According to Eugene, Hampson, Ian, and Beryl (2003), entrepreneurship is a process. They see a process of generating something that is not similar to its value through dedicating needed time and effort. All the risks (including financial, psychological and social) that come by when the process of entrepreneurship is on are assumed.  An entrepreneur is on the look to receive personal satisfaction and a resulting reward in monetary terms.
Following the small nature of firms, they become easy to manage in the hunt for their growth and profitability. This comes because of innovative ideas and behaviors that an entrepreneur allies with. Character traits of an entrepreneur who is success-oriented clearly spring up. They cover all most aspects of growth-targeted areas that we need to see in the entrepreneurs. We will consider the character traits in a broad manner to see how successful small business owners should operate. To begin with, there is so much to do with personality traits. This makes an entrepreneur legible enough to discern what to do at the very appropriate moment. Personality traits in any small business owner cannot allow for an exceptional thing that may ruin the business. The attitude of any small business owner boosts the general outcome of the business. In fact, a positive attitude has all it takes to see success in the business. In this regard, it instills a better level of self- effectiveness, the strength of a higher order and so on. In many cases, eagerness to change according to the current situations that face SMEs is a real stepping-stone to success. This is better off when still when a small business owner shows a great deal of interest in getting involved in creativity and innovation. A business becomes so beautiful to manage in the sense where there are competition aggression and that burning need for success and achievement. Consequently, these are what constitute the logic of small business being beautiful. In a small business enterprise, planning is considerably easier. Its management is swift since it offers a friendly environment for the owners and their customers at large. This does not require so much of time because simplicity accorded to the small business enterprise. ...Download file to see next pagesRead More
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