Managing Small and Medium Sized Enterprises Assignment

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Added on 2021-01-02

Managing Small and Medium Sized Enterprises Assignment

Added on 2021-01-02

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MANAGING SMALL ANDMEDIUM SIZEDENTERPRISES

Table of ContentsEXECUTIVE SUMMARY.............................................................................................................1INTRODUCTION...........................................................................................................................1MAIN BODY...................................................................................................................................1Start up process............................................................................................................................2Business concept to make money................................................................................................3Sources of competitive advantage...............................................................................................3Demand........................................................................................................................................4competitive environment.............................................................................................................4Growth and development of business..........................................................................................4Challenges....................................................................................................................................5Growth and development strategy...............................................................................................6Government supportive measures................................................................................................8CONCLUSION................................................................................................................................8RECOMMENDATIONS.................................................................................................................9REFERENCES..............................................................................................................................10

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EXECUTIVE SUMMARYThis report will discuss about a small business unit in UK which is operating on smallscale. Ovation unit is considered as small medium enterprise. Reason behind a small scalebusiness is to put a position in market and to have profitability. Challenges will be discussed inthis report which come in between to achieve business objectives. Whole process of starting upbusiness will be discussed. Government measures will be analyzed which makes profitable tocompany to increase their market share. Some business tactics are applied in company whichwill be beneficial to gain competitive advantage. A conclusion is made which will discuss thesummary of report.INTRODUCTIONSmall medium enterprise (SMEs) refers to a small sized company which has less than250 employees. Its has turn over less than 50 million euro. SMEs are very important for countryin the role of employment. Present study lay emphasis on Ovation system limited. It is a smallcompany which has role in manufacturing and designing of video surveillance products forvarious departments like police, military and in other government sectors. Richard Gregory ismanaging director of ovation system limited. It was founded in 1987. It has headquartered inOxforshire, England. This report is to analyze the business development growth for Ovationsystem for both past years and future years as well. MAIN BODYOvation system limited is the manufacture of electronic components which includesdesign and production of electronic sub-assemblies. The one of the type of business of Ovationsystem limited is Video Surveillance Equipment and Systems for the Police and Military. Theyare specialized in the design and manufacture of precipitous, high performance videosurveillance products for the police, military and other government law enforcement agencies.Over the past 20 years company have gained an excellent reputation in the law enforcementmarket (Zhang, 2019). They also manufacture number of supporting products such asmicrophone and low light miniature cameras. The nature of the company is dedicated to ensurethe highest possible product quality and reliability. The production and design processes of thisorganization is certified to ISO 9001 quality management standards. People behind this business unit is a small family which has desire to open a smallbusiness unit which has involvement in security system. therefore they took a step to introduce1

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this company which kept products like video and audio recorder. Richard Gregory is one of theowner of ovation system limited who took the step of implementing manufacturing process andmarketing process. It is the organization which is characterized by intentional structure of roles andresponsibilities coordinated towards achievement of common goals. The other nature of thisorganization is applying professional ethics that examines ethical problems and principles thatarise in a business environment. The nature of business ethics includes code of conduct, based onsocial and moral values, gives protection to social groups, provides basic framework, requireseducation and guidance. Ovation follows this nature of business to attain long-term growth, costand risk reduction etc. Scope of business ethics include ethic in finance, marketing, complianceand production. Following these ethics any company can gain investor loyalty, attracting talentsand customer satisfaction.Start up processThe company is a small start up company having team of 24 members. Employees arepromoted by their involvement and communication by the company and also encourageemployees for ideas and suggestions. The communication between all staff and directors atOvation works well. As a start-up the company aim is to continual advances in technologies forthe media and communications industries and apply this innovative products for the security andsurveillance system (Reis, 2016. It is based near Oxford, Ovation Systems is privately ownedcompany which have started their business in 1987 as an electronic design consultancy whichfurther concentrated on high-speed digital electronic design projects. In 1990, there was a drasticchange applied by the company which was a risk taking start up also, they started developing itsown product range and changed their direction completely from consultancy to manufacturing. As starting their business earlier in manufacturing can cause a great risk as a start up butconfidence and curiosity led them o become a successful in this industry. Since 1990, OvationSystem has grown into a highly successful and profitable electronic design and manufacturingorganization, specializing in advanced video surveillance products and systems for high-endCCTV, police and military applications. Their technology is growing and changing so rapidlyand have a clear focus on customer needs. Their vision as a start-up is always about technologyand people. As a start up they focus on employees more than they put their time, skills and2

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