The role of SMEs in social and economical development of developed and developing countries is well established. The small and medium scale industry plays a major role in resource utilization, employment creation, and income generation. …
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Diagnostic audit is one of the important audit tools that examine the marketing operation of a specific business unit. Objective of the study The study has provided the backdrop for the crystal clear review of the marketing components and activities of the companies under the small and medium scale enterprise. The study has been conducted considering three companies such as Jain Estates, Multisoft Systems and Infinity Informatics. Multisoft Systems is an India-based software development company listed under growing SMEs in India. Infinity Informatics is an information technology products development company situated in Bangalore. Jain Estates is one of the emerging real estate company listed under SMEs list in India. These three small and medium scale enterprises are increasing their market reputation slowly and gradually. The major objective of the study is to review or assess the marketing and business capabilities for these small and medium-scale enterprises. In order to uncover the study, the following objectives can be set for the purpose of research work. Determining and closing the marketing and business capability gap. Implementation of marketing audit and toolkits in order to betterment the SMEs business and marketing capabilities. Importance of the Diagnostic audit to measure the marketing performances of the three companies. Elaborating the findings of thorough analysis and recommendation plan for the problem statements. In order to draw a decision, the study needs a conclusion whether the marketing audit is effective or not in terms of the business practices of the three small and medium-scale enterprises. Marketing and business capability gap The gap between the...
It is necessary as it identifies and rectifies the problems in business practices. The marketing audit efficiently assesses the business performance of a company. The owners of SMEs need to learn and implement the audit for the betterment of their business practices. The government should organize some events or programs related to the awareness and importance of the marketing audit considering the SMEs as the SMEs significantly contribute to countries’ economical development. The SMEs owner can be benefited by such awareness programs. Moreover, it is necessary that small and medium-scale enterprises appoint an external market auditor due to the small size of industry. In order to evaluate marketing planning and performances and establishment of improved and integrated business strategy, the marketing auditor is need to be appointed in a SME.
Without effective assessment of previous business performance, SMEs cannot rectify and improve their business performance in the near future. The above study has clearly stated the potential of small and medium-scale enterprises. Moreover, it is feasible from the research work that effective marketing audit will help structure the marketing budget for sales and marketing activities of specific products and services.
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Additionally, the business continuity requires cautious planning for down time for maintenance or upgrades, dealing with the system related problems that may turn out to be the cause for temporary service disturbance and business application downtime. With the purpose of dealing with such kind of challenges, virtualization guarantees performance optimization by assigning the exact resources for instance, cache, CPU, throughput, bandwidth and server, storage I/O and network to the selected application according to the workload demands and business priorities.
The company has 190 employees (165 contracted employees and 25 project-based employees) working in 3 cities. The company board believes in social contribution and fulfilment of social duties. Good social performance can be ‘ensuring good corporate governance, product responsibility, employment conditions, workers rights, training and education’ (Mazurkiewicz), thus, along with primary stakeholders, secondary stakeholders need to be considered as well.
According to world bank report, small and medium sized businesses contributes over 55 per cent of GDP and forms 65 per cent of total employment in most countries (Analoui & Karim 2003). In today’s globalized business environment small and medium sized businesses are experiencing challenges in exploiting new innovations and retaining talented and good employees.
(in order of likelihood) that could impact your business.] 9 Legal considerations [List the legislation which will have some impact on the running of your business. For example: consumer law, business law, or specific legislation to your industry. 9 Sustainability plan 10 Market research [What statistical research have you completed to help you analyse your market?
2. In 2008, the European Union implemented the Small Business Act for Europe 3. The same act contributed to the improvement of European Union small and medium enterprises. 4. The act increased innovative and creative competitiveness in the small and medium enterprise market.
According to the report the foregoing represents a daunting challenge, in that these areas contain psychological as well as motivational facets, in addition to the organizational precepts. The cross-organizational implications, impacts, effects and influences are both subtle as well as profound, with the more successful enterprises employing both facets to maximise their success.
The small business success depends on the management and business skills. Things to consider in planning a small business like in period picture framing and small craft workshop for furniture business needs a good and effective business plan. According to Prof Johan Strydom 80% of all South African small businesses fail in the first five years of their existence.
Information about their sales history, which would be their fundraising history, is not available. Their Facebook Page has a lot of fans, but very few actually participate in the ongoing chatter – for every posting they have, they either