Managing Growth and Profit in Small Businesses

This assignment focuses on equipping small business owners with the knowledge and tools to foster growth and enhance profitability. It delves into crucial aspects such as strategic planning, financial management, marketing strategies, and operational efficiency. The goal is to provide a comprehensive framework for sustainable growth and success in the dynamic landscape of small businesses.

MANAGEMENT
AND
RUNNING SME

Table of Contents
INTRODUCTION...........................................................................................................................4
TASK 1............................................................................................................................................4
P1.Discuss the main considerations a small business or social enterprise needs to address
when planning and allocating resources to achieve business objectives................................4
M1. Apply relevant tools and techniques in a structured and analytical way to plan and
allocate resources in an organisational context......................................................................5
M2. Assess the importance of planning and allocating resources to achieve the business
objectives................................................................................................................................6
D1. Critically analyse the application of appropriate resources to demonstrate links between
resource allocation and achievement of business objectives..................................................6
TASK 2............................................................................................................................................7
P2. Explain and evaluate different processes of customer relationship management for a small
business or social enterprise...................................................................................................7
P3. The way small business can develop transnationally and determine merits and demerits.
................................................................................................................................................8
M3 Apply and evaluate the elements of the customer relationship management process in
relation to achieving business objectives...............................................................................9
M4 Evaluate the potential to develop transnational operations using the stage model of
internationalisation, assessing both benefits and challenges................................................10
D2 Critically evaluate the customer relationship management process at all stages and provide
recommendations for overcoming challenges of developing transnational operations........10
TASK 3..........................................................................................................................................11
P4 Produce an annual itemised monthly cash flow forecast showing fixed and variable costs
set against income for a specific organisation......................................................................11
P5 Explain how break- even analysis could be applied to an organisational situation........14
P6 Interpret key financial statements for an organisation in relation to how they contribute to
the successful management of the organisation...................................................................14
M5. Apply appropriate quantitative and analytical techniques to provide an appropriately
detailed cash flow forecast and break-even analysis............................................................17

D3. Produce an accurate cash flow forecast and break-even analysis with a critical evaluation
of how key financial statements contribute to the successful management of the business.17
TASK 4..........................................................................................................................................18
P7. Discuss key legislation and regulations that have implications on small businesses or
social enterprises..................................................................................................................18
M6 Evaluate the implications of key legislation and regulations in an organisational context.
..............................................................................................................................................18
D4 Critically evaluate key legislation and regulations that affect small businesses or social
enterprise organisations, taking future developments and changes into account.................19
CONCLUSION..............................................................................................................................19
REFERENCE.................................................................................................................................21

INTRODUCTION
Small and medium enterprise they are non-subsidiary enterprises where various types of policies and plans are used to manage the
several types of functions and operation of any enterprises. SME refer to small and medium business group of company which always try to
implement new as well as advanced technology in order to explore its business in various parts of world. There is various type of small and
business organisations that is performing in United Kingdom (Abuznaid, 2014). If we talk about the United Kingdom where very large number
of competition between them Walker & Dunlop is small and medium company, there Chairman and CEO is Willy maker and Executive vice
president is Steve Theobald. This company provide the most and best acquisition loan seen in years their work is step by step and cost
effectively. Walker and Dunlop is leading to the best every customers and every projects there mission is commercial real estate finance in
whole country there purpose is blend of trusted, build relation on every client and person like mutual type and make good reputation among the
society and so that aim is the big lenders in real state like commercial base in the country. This report is explain of the various method and
processes in the different type operations in efficient way so it is also explain the role of real state and loans and providing loan in the country in
effective way. Walker & Dunlop is asset of the management providing the stability of financial performance according to other competitor the
walker and Dunlop is different in providing superior loan service and everything to others.
TASK 1
P1.Discuss the main considerations a small business or social enterprise needs to address when planning and allocating resources to achieve
business objectives.
The management of any type of organisation that is needs to focus on to improve the management of different types you have to decide
on the business planning’s you have to increase the chances and business venture according to this start of your plans then you will needs to
guess and plan your messages and drafts one of the most important reason to plan your project and their contents according to business planning
so any small and medium enterprise objective is mainly plan of their contains and strategy for the organisations. Business plan is very
complicated documents that is making a lot of decisions and plans.
People and skills: people and skill is the pattern of behaviour and interaction with the among peoples that is related to the ability,
interaction, and personal effectiveness etc. so all over In order to improve the skills and knowledge of employee working in the organisation
basically human resource department is playing an important role in any organisation. This department is the backbone of any organisation.
Being a part it determine the service and facility types of requirement which are given good services for their customers. Walker and Dunlop
Chairman and chief Executive officer is capability to regulate their as per their capabilities in order to complete (Sluyterman, 2013).
Vision, goals and objectives: mission, vision and objective of the organisation is the very important tool in every organisation because
every organisation need to determine the objective of the mission for the organisations. The management needs to determine the condition of
market before starting its business the vision of any organisation need to explain the vision of the company and maximise of its profit level. This
leads to maintain effectiveness and efficient to perform different types of activities of the company in proper manner
Financial resource: financial resource is the most important part of any company. Financial resource is the term of financial control and
there structures like funds, cash, and other equivalents of the organisations every activities of company is based on this part because. And
financial control is very important part of the organisation where we are managing the all organisation work relate to the capital. The manager of
company need to analyses about the financial position of organisation this contain Balance sheet, P&L account and many other assets.
M1. Apply relevant tools and techniques in a structured and analytical way to plan and allocate resources in an organisational context.
Allocate the different resource and implement effective plan in order to perform different function of organisation in effective way. The
management want to consider two types of project management techniques which are describe below:
Gantt chart: This is the tool which is used to the number of product and which are the required fulfil of the demand and complete the
desire of the customers in proper manner this is main goal of the according to Gantt chart complete the objective and goals of the organisation in
effective and proper way this tool is use for satisfy the customer need and wants. This is helps to attract large number of customer in proper
manner. Gantt chart is use in graphical solution in accounting for project management there are many type of policies and strategies implement
in a company in effective and efficient way (Volery, Mueller and von Siemens, 2015).
Critical path analysis: critical path is most and very effective technique that is use in the organisation in different type of operations that
is very perspective of the business in proper manner. Basically critical path is a method that is set on the project in proper way. That is
commonly use in evaluate techniques.
M2. Assess the importance of planning and allocating resources to achieve the business objectives.
In any organisation there is achieve setting of objective goals and prepare the many type of policies and plans that function is very useful
in any organisation. In order to planning and resources that is very effective track for the organisations there is some resources in organisation
like funds, time and materials to prepare the many type of policies and plans in the organisation to proper form. Through proper planning,
4

Management of the company is able to allocate resources within the organisation in an efficient manner, that leads to better growth as well as
development of the business and expand the opportunities for the organisation in the longer run over period of time. Financial as well as
Commercial Objectives of a business can be achieved if the resources are allocated in a prudent manner.
D1. Critically analyse the application of appropriate resources to demonstrate links between resource allocation and achievement of business
objectives.
There are several tools as well as techniques that are being used by the managers of company in an effective as well as efficient manner
in order to attain the set objective and goals of the company in effective every organisation where is various type of resources in determine in the
organisations. Every organisation and there management also put their effort in the growth and marketplace. (Radwan, Jones and Minoli, 2012).
The resources that are being used by the organisation are scarce in nature and thus in order to attain proper efficiency. It is crucial to use proper
resource allocation approaches according to the available budget and available local resources to support the areas of a country in a way to
achieve long-term development with a future vision of becoming self-sustained.
TASK 2
P2. Explain and evaluate different processes of customer relationship management for a small business or social enterprise.
Customer relationship management: customer are most and valuable asset for the organisation because any organisation there growth,
profit and success all are the depend on customer satisfactions. If you are satisfy the customer then they are given a good profit in all time
according to their needs. Customer are the most important assets of organisation so customer support and service is very important for the
organisation growth and So organisation every business sizes can be beneficial for the organisation customer is most valued asset for the
organisation in any business so business processing is the increase of the level of customer satisfaction. Customer relationship management is
the major profile of any organisations. For this enterprises needs to define the roles and responsibility to employee working in the organisation in
proper manner. Complete demand and desire of customer in proper manner. Marketing manager want to know about the all type of marketing
research and to know about the customer demand in effective manner it is also needs to take different type of right decisions in order to perform
many types of task in proper manner.
Developing effective channels for customer communications: communication is very important for the businesses for the determine
buying behaviour and increasing the sales better communication is very important technique in business to retain your customers and customer
satisfaction because every management need to feedback of their customers in order to their need and wants. To determine the buying behaviour
of different customer in order to increase the selling of the product and services products to them. These communication channels are like mobile
phones, Web self-service, social media and many other services which aids to accomplish demand and desire of customer in effective and
efficient manner.
E-mail and digital marketing keeps strong relationship: strong relationship is establishing with customers because different need and
want of desire of customer is make a high growth and make high profit in proper manner. Excellent communication is understanding to know
about the desire and need of customers and create interest of to buy product and services. Email and digital marketing is good formation of
product and services in proper manner (Ward, 2016).
P3. The way small business can develop transnationally and determine merits and demerits.
Transactional business operations: These types of business operate at global level. They have its headquarter in domestic nation and
have branches at various parts of the country. The business organisation those are responsible for analysing the market and then after used to
make choose for the expansion. It is entirely related with the types of customers they available in the market. Manager of Walker & Dunlop
make valuable modification in their products and services. It can establish business various in different areas of nation in order to expand and
delivery latest product to their customers. There are various problems in several locations which would affects business growth and resistance.
Walker & Dunlop enters in transactional business in order to expand their business and make positive brand in delivering real state finance to
small and medium size companies. There are various ways through which company can go through international market such as:
Mergers and acquisition: In the option of Walker & Dunlop select some other international organisation to merger with it to increase
their business more effectively. It can be possible that domestic association can buy foreign organisation.
Joint venture: It is the combination two or more organisation that joined together in order to commence business more effectively.
Benefits of transactional business environment:
 Broader market base: When Walker & Dunlop operate in various parts of the nation, it would get various opportunity to meet out
various customer’s range. It is sole responsibility of managers to analyse overall demand and of credit need of the people at foreign level.
 Brand recognition: In company would operate in multiple location, then customer is more aware of their brand. Manager must use to
maintain quality of their services while providing funds to their customers.
Drawbacks of transactional business development:
5

Risk of failure: This is considered as primary limitation as they are various possibilities of failure of brand in new market. As because,
there are already so many company those are related with finance or credit services delivering.
Expensive: Transaction business operations is expensive approach because there is requirement of approval of government, charges of
entry in new country, registration, etc. So this is costly for Walker & Dunlop.
M3 Apply and evaluate the elements of the customer relationship management process in relation to achieving business objectives.
There are four points which are related to the customer relationship management process which are describe below:
Understanding the market and customer: This is the step of very important for the organisation to know about the customer desire and
demands. Proper understanding of the market is very important for the purpose of effectively understanding the customers and managing a
proper relationship with them in the longer run. There is a specific need to make sure that employees are trained in a manner to serve customers
and their needs in best possible way.
Develop the offer: This is the second step of the organisation that is giving different type of offers with new product and services in
effective manner. A customer usually prefers a company which offers products and services with discounts and other offers, thus it is necessary
to have certain schemes and offers on a consistent basis.
Acquire audience: This is the way of search new customers to increase growth and high profit for organisations. Under this step, the aim
of Walker & Dunlop would be to acquire customers and clients and then making a proper segmentation of the same, in an efficient manner.
Retain the customer: this is the last step of the organisation there is to gain loyalty and make large number of customers in long time
period.
Implementing a customer retention strategy helps in various ways to the organisation
 Identify and explore referral sales opportunities
 Build and foster constructive relationship with customers
 Identify and rectify flaws within company policies and processes
 Enhance brand reputation
 Understand future needs of the customers
M4 Evaluate the potential to develop transnational operations using the stage model of internationalisation, assessing both benefits and
challenges.
Management implement many types of operation and functions in limited time period. It is divided into the four equal parts.
Knowledge opportunity: this is very important part of this section which consider the different type of achieve goals and setting
objectives of the organisation in effective manner. The need is to analyse the market demand that prevails in the nation, in which the
organisation is planning to operate, this way it will be able to develop effective business plan that will be helpful for the organisation to develop
its business plans.
Relationship commitment decision: it is very important part for any organisation there is product and services to given by the company
in proper way. There is a need that proper relationship is developed by the management of Walker and Dunlop with its customers. A Small and
medium size business is usually can be grown by way of effective and efficient relationship commitment with its customers. Thus, the
organisation is responsible to make sure that there are proper procedure that is being followed by each and every individuals in the company to
maintain a effective relationship with customers over period of time.
Network Position: This is proper positioning in different type of product and there adv. And promotions (Terrey, 2013). Building a
proper Network Position in a different market is of paramount importance for the organisation. Through this Walker and Dunlop can build a
larger customer base and achieve growth in its business by addressing needs as well as demands of individuals over period of time.
There are various kinds of challenges that are being faced by the organisation while going for transnational operations, these includes
hiring capable workforce based on the needs and demands of consumers of that particular region, Also the expenditure that is incurred for
training and development of individuals in transnational operations is also a huge challenge for the organisation.
D2 Critically evaluate the customer relationship management process at all stages and provide recommendations for overcoming challenges of
developing transnational operations.
Company needs to ascertain 4C's of CRM process which are written below:
Correlate: It is concerned with the mutual relation and interaction with the transaction to build effective relationship. There is a need to
correlate with the needs of customers as to what are their needs and requirements, those queries shall not be taken for granted by the organisation
in any way.
6

Combine: It is concern with the building interaction and relation between consumer and user. Communication shall be done with
customers on a regular basis also feedbacks shall be taken from them in a effective manner, so that necessary modifications as well as
improvements can be made in the business and products and services, to be more specific, over period of time.
Cognize: It aids to gather different types of data and information about different business products and this leads to efficient management
of the whole organisation in the longer run. Data and Information is of crucial importance for a organisation, through this it can plan as well as
manage the needs and demands of customers by offering quality products.
Connect: Connect with the different channels, customers, suppliers and others, so that it is possible to learn what their requirements are
and those can be incorporated within the goods and services of the organisation. s
TASK 3
P4 Produce an annual itemised monthly cash flow forecast showing fixed and variable costs set against income for a specific organisation.
There is different sort of decisions which are accessible to association by which organization can apportion the diverse capital keeping in
mind the end goal to make solid position in the commercial centre. These sources is comprises of Equity back, bank advances, and numerous
other. These are specified underneath:
Equity finance. An association execute the distinctive sorts of procedures designate store to perform diverse task of business in
legitimate way. This guides is powerful choice to extend and develop of business in legitimate way (Paris and Leroy, 2013).
Bank loan: It is vital wellspring of which association can raise the assets for long haul and here and now. Before taking credit director
decide the rate of enthusiasm by the bank.
Leasing and hiring purchase: This source is the thought raising of assets by giving a few resources for opposite side to mastermind
reserves.
Balance Sheet, P&L and cash flow statement of the Walker & Dunlop:
Year 2017 (value in Thousand £) 2018 (value in £)
Fixed assets 85 100
Stock 10 15
Debtors 20 28
Bank 20 25
Total 135 168
Creditors 120 180
Bank overdraft 60 65
Total 180 245
Working capital 30 80
Profit and Loss Account at the year ended
2017 2018
Sales 20 30
Cost of sales 10 15
Gross profit 10 15
7

Overheads 6 7
Net. profit 4 8
Cash flow Statement
Cash Flow
budget
Particulars Jan Feb Mar Apr May June July August September October November December
Cash inflows
Investment 8000
Credit sales 2000 3000 3000 4500 1500 3500 4200 1000 2000 800 1200 1500
Total inflows 10000 3000 3000 4500 1500 3500 4200 1000 2000 800 1200 1500
Cash outflows
Fixed :
Equipment’s 2000 2500 1500 2000 1200 1500 800 200 300 100 600 300
Variable : Direct
material 300 300 200 300 150 500 300 400 500 100 100 400
Total outflows 2300 2800 1700 2300 1350 2000 1100 600 800 200 700 700
Net cash flow 7700 200 1300 2200 150 1500 3100 400 1200 600 500 800
Opening
balance 0 7700 7900 9200 11400 11500 13000 16100 16500 17700 18300 18800
closing balance 7700 7900 9200 11400 11550 13000 16100 16500 17700 18300 18800 19600
8

P5 Explain how break- even analysis could be applied to an organisational situation.
Break even tools is determine the about of total sales in which the basis of monthly, yearly basis. So this is fulfil of the desire and
demand of the customers in the market. This tool is determine to know about the customer and to know about the level of profitability. It help
the make different type of strategy like minimising the cost and maximise profitability of the company.
Break even analysis is a method used by management accountant and production management. This helps in categorising the production
cost on basis of fixed and variable. Fixed cost are those that are not directly relate with production of goods. This kind of cost remain same for
the entire time. Depreciation, rent, marketing cost, research & development and administration cost all are the example of fixed cost. Variable
cost is the one which is directly link with the level of production. This varies as per the level of production and it represent raw material, direct
labour, commission, fuel and many more. Total fixed and variable cost are compared with sales revenue in order to identify the sales volume at
which business makes neither a profit nor a loss. Following is the formula which is used by companies to calculate
BEP (in units): Fixed cost/ sales price per unit- variable cost per unit
Break even in dollars: Sales price per unit* Breakeven point in units
The current situation of Walker and Dunlop is that it has incurred heavy fixed cost developing new kind of products and thus it has to
make sure that the breakeven point is reached by selling around a specific number of units at a particular price.
Break -even – point: The Total Fixed Cost incurred by the company is 7,550 while Sales price is 20 variable cost is 10. Hence BEP = 7550/ 20-
12 = 945 Units.
P6 Interpret key financial statements for an organisation in relation to how they contribute to the successful management of the organisation.
Financial statement: Financial statement is activity of stage of the business and entity it. Is very important part of the any organisation
that is analyse of their information with the cash flow, balance sheet, profit and loss account there are also many type of information about the
distribution of capital funds which analyse various type of values in financial account. There are different factors of account are given below:
Balance sheet: In balance sheet there is a statement of asset, and liabilities in business and organizations there is all type of detailing in
related to income and expenditures, that statement is determine the various type of assets and liabilities explain in the account. This is most and
essential part of any organisations because balance sheet give information about the involve operations and cost in proper manner. It is also give
information about the assets which are perform in enterprises (Sterling and Pang, 2013).
Profit and loss account: Profit and loss account is the most important factor to find the financial position of the company. This is find the
profit and loss of the any organisation on the basis of year and monthly bases. It helps to give the performance level of organisation in proper
manner.
Cash flow statement: This is very essential part for company cash flow statement is the basis of financial, operating, and investing
activities so cash flow statement is basically flow of cash in the basis of business there result is changing their balance sheets. Cash flow reduce
the unwanted expenses of business in proper way In order to perform different types of functions of organisation in proper manner. And control
of the many type of cost and involve different type of product and services (Hickman and Silva, 2018).
Balance Sheet, P&L and cash flow statement of the Walker & Dunlop:
Year 2017 (value in Thousand £) 2018 (value in £)
Fixed assets 85 100
Stock 10 15
Debtors 20 28
9

Bank 20 25
Total 135 168
Creditors 120 180
Bank overdraft 60 65
Total 180 245
Working capital 30 80
Profit and Loss Account at the year ended
2017 2018
Sales 20 30
Cost of sales 10 15
Gross profit 10 15
Overheads 6 7
Net. profit 4 8
Interpretation of Financial Statement
Profitability
ratios Formula 2017 2018
Gross profit
ratio gross profit/net sales*100 50 50
Net profit ratio net profit/net sales*100 20 26.67
Liquidity
ratio Formula 2017 2018
Current ratio Current asset/current liability 0.28 0.28
Acid test ratio
Current asset-inventory/ current
liabilities 0.22 0.22
The above Interpretation clearly states that the gross profit margin of the company has remained the same as compared to the net profit
margin which has increased by 7% on an year on year basis.
The current ratio of the company has remained the same which shows that the level of current assets have not changed much as compared
to the current liabilities of the company. Same has been the case with acid test ratio of the company, this is because the level of stock has not
increased much and thus more or less a same figures has been derived under both the financial years.
The company shall focus on improving its Current ratio, as it is quite low and may hamper the working capital situation of the
organisation in the longer run.
M5. Apply appropriate quantitative and analytical techniques to provide an appropriately detailed cash flow forecast and break-even analysis.
There are many type of techniques is implemented by the management and appropriate cash flow and break even analysis in the effective
way. This methods is complete the many type of operation in proper way. Reduce the different type of function of the organisation in effective
manner. A business's cash flow break even point is a vital calculation that can help in evaluating the financial health of a company. It is the point
in the ongoing operation of a business at which sales revenue equals fixed and variable costs and cash flow is neither positive nor negative. A
break-even analysis is used to forecast the point based on the operating budget and projected sales revenue. The cash flow forecast and break
10

even analysis can provide effective and and efficient analysis of various aspects of the business, which is essential for making the business grow
and prosper in the longer run.
D3. Produce an accurate cash flow forecast and break-even analysis with a critical evaluation of how key financial statements contribute to the
successful management of the business.
Financial statement is the process of about the cash flow and profit and loss account .that is calculated of the funds and different type of
cash flows so financial statement is the process of the analysing of the company. And there well economic decisions including income, balance
sheet, and cash flows. There are many type of function is perform in different effective manner. Financial statement is determining the position
on the different type of time like yearly and monthly basis (Woldesenbet, Ram and Jones, 2012). Financial Statement includes various types of
statements that allow managers to take business decisions effectively. Break Even Analysis and cash flow statement can be prepared by Walker
and Dunlop to estimate the cash that will be required to fund its business operations and working capital. Thus, the need of financial statements
is quite huge within the business. All the stakeholders of a business like suppliers, customers, shareholders, Employees etc.
TASK 4
P7. Discuss key legislation and regulations that have implications on small businesses or social enterprises.
In order to maintain the product and services of the organisations. Walker & Dunlop they are increasing their service facility in the
different factors that is perform in different type of operations which are to control and maintain the many type of operations in effective manner.
Social enterprise is maximise the improvement of the organisation like social, financial and increase maximise profit of the organisation.
Maintain the different type operations in proper way in the organisation.
Tax and Employment (1976): it is very important act this act tax and policies there purpose by government of United Kingdom
(WHITAKER and PEDERSEN, 2013). There are many types of norms, rule and regulation is that is impact on different type of operation in
proper way. Those company who are not given tax as per the norm in fix time than government recover tax with penalty if company not given,
government ban of the organisations.
Data Protection act (1998): data protection, this is the rule about the relate to work for the organisation in effective and efficient
manner. This rule is give data information about the all activities in the organisation in company. So data protection is very important work for
the organisation in proper manner this is solve of the data related problem at the time of during any problems and issues then that is performing
in proper way.
Record keeping (2006): it is related to information about the store and data in the organisation in proper manner. And this act is play a
major role for the organisation in effective and efficient manner (Buck, MRK NETWORKS INC, 2014).
M6 Evaluate the implications of key legislation and regulations in an organisational context.
It is very important for the organisation to analyse the different type of rules and regulations that is explains the act needs by company in
proper manner. It is given protection for the organisation in different type issues and problems in related to tax and other. The various
legislations that prevails in a business environment do make a impact on the overall working of a business. The Laws and legislation framed by
the government impacts the business activities and also the behaviour of consumers in an effective way. There is a specific need to make sure
that right kind of analysis of the legislations are done, which will enable management to frame policies and procedure for the development of
business opportunities in the longer run.
D4 Critically evaluate key legislation and regulations that affect small businesses or social enterprise organisations, taking future developments
and changes into account.
In the organisation where employee play important role in proper manner. Many company want to health fitness of employees in the
organisation. Because they are maintain different type operation in proper way and increase the main performance of the company. That is affect
the services and product produces in the company so that mean health is important for employee and organisations (del-Palacio, Zhang and Sole,
2012). Some of the key legislations that impacts small business are Employment Contract Act, Healthy and Safety regulations Act, Data
Protection Act etc. These are some of the Acts which do impacts social business because these are being framed by the Government keeping in
mind the different nature of social business and they are not aimed to make profits but the idea behind this is upliftment of society by good moral
actions.
These acts have laid down the various kind of provisions, which ensures that the growth of small and social business does not get
hampered in any way. The ultimate aim is to develop the culture of business in these social organisations and protect them against any
discrepancies that exist within the external environment.
These acts tries to lay down the various regulations that needs to be followed by business organisations which are conducting business on
a social level. The regulations include the sources of funding available to various firms, taxation benefits and many other rebates that the
government has given to these organisations.
11

CONCLUSION
According to this report analysis of the management and operation plays a major role in small and medium organisations. Some
organisation need to maintain relationship with the customers and set of the objective and goals. In small and medium business firm there is
main problem is and many area of there is skills is very mandatory. Small and medium enterprise there is impact of skills and development in the
training for the SMEs. Skill and development is main ability of the organisation that is main platform small size businesses. A successful
development in SMEs where is train the all categories of the development of the identified training skills. In small and medium enterprises
where is innovation and competitiveness is big challenge in small industry according to market segment where is very importance thing in the
activity of innovation system. Because, where big competition entrepreneur is enter in the market with new innovation in small sizes businesses.
There mentally ability is younger so SMEs depend on their potential innovations. Innovative company’s main component is innovation like, new
product development, excellent services and others. Some companies differentiate their services to others like asset management and all thing
about the servicing for your clients. Then client receive the different high quality and customer service in the innovative business enterprises so
SMEs focus on the services and their clients that is build believing power of the company and then company achieving their goals for growth
and profits.
12

REFERENCE
Books and Journals
Abuznaid, S.A., 2014. Managing a family business in a complex environment: the case of Palestine. International Journal of Business and
Social Science. 5(10).
Buck, C.F., MRK NETWORKS INC, 2014. Automated system and method for provisioning and managing cloud desktop services. U.S. Patent
Application 13/950,814.
del-Palacio, I., Zhang, X.T. and Sole, F., 2012. The capital gap for small technology companies: public venture capital to the rescue?. Small
Business Economics. 38(3). pp.283-301.
Hickman, C.R. and Silva, M.A., 2018. Creating excellence: Managing corporate culture, strategy, and change in the new age. Routledge.
Paris, T. and Leroy, F., 2013. Managing transition in an artistic company with entrepreneurial management: A case study of Groupe Bernard
Loiseau.
Radwan, H.R., Jones, E. and Minoli, D., 2012. Solid waste management in small hotels: a comparison of green and non-green small hotels in
Wales. Journal of sustainable tourism. 20(4). pp.533-550.
Region-Sebest, M., 2013. The new small business leader: Skills for managing today's turbulent business environment (Doctoral dissertation,
Capella University).
Sluyterman, K.E., 2013. Dutch Enterprise in the 20th Century: Business Strategies in Small Open Country. Routledge.
Sterling, S. and Pang, C.L., 2013. Managing multi-mobility and multi-layered identity in China: how ethnic Chinese-Venezuelan returnees cope
with Chinese language, culture and identity. Asian ethnicity. 14(4). pp.511-524.
Terrey, N., 2013. Managing by Design: Enacted Through Situated Networks. Design Management Journal. 8(1). pp.52-61.
Volery, T., Mueller, S. and von Siemens, B., 2015. Entrepreneur ambidexterity: A study of entrepreneur behaviours and competencies in
growth-oriented small and medium-sized enterprises. International Small Business Journal. 33(2). pp.109-129.
Ward, J., 2016. Keeping the family business healthy: How to plan for continuing growth, profitability, and family leadership. Springer.
Woldesenbet, K., Ram, M. and Jones, T., 2012. Supplying large firms: The role of entrepreneurial and dynamic capabilities in small businesses.
International Small Business Journal. 30(5). pp.493-512.
13