Managing Small and Medium Sized Enterprises

Managing small
and medium
sized
enterprises

INTRODUCTION
Managing Small and Medium Sized Enterprises refers to the use of different types of
methods and techniques through which the SMEs can be managed and run (Alahmari and
Duncan, 2020). Therefore, it is quite important for the managers of the enterprises to make sure
that they are able to manage the wide range of needs and requirements related to these
enterprises in a proper manner. For this report, Assael Architects has been chosen. It is a firm
providing services related to Architecture to its various customers and clients in the market. In
this report, a detailed discussion will be made on the development of its growth strategy to be
used for the future.
MAIN BODY
Nature of the entrepreneur behind the venture- The nature of the entrepreneur behind
the venture is that there is a huge demand for architecture services in the market and therefore it
is quite essential that these services are provided through making a team of architects which will
help in providing such type of services to the customers in the market and thus will ensure that
the organization is able to attain its goals and objectives in the market Assael Architects is
therefore an organization which will make sure that such type of services are provided to the
customers and clients in the market in a proper manner (Dankiewicz, Ostrowska-Dankiewicz and
Bulut, 2020).
SME Start-Up Processes- There is a specific process which is required to be used so
that a SME can be started (Gardi, 2021). Therefore, it is quite important that these steps are
followed as a part of this process-
 Researching Idea- Here the research on the idea is required to be done (Kramoliš,
Šviráková and Král, 2020). The idea behind starting Assael Architects was that the
customers and clients require the services related with Architecture to be provided to
them and thus it becomes quite important that such type of services are provided to them
in a proper manner.
 Preparing a Business Plan- It refers to ensuring that the preparation of a Business plan
can be done so that the Business Idea which has been framed is successfully
implemented. Therefore, a Business plan was prepared before starting Assael Architects.
 Creation of Budget- It refers to creating a Budget for the forecast of receipts and
expenditures in a particular time period. Assael Architects therefore created a Budget
before starting their operations for the purpose of proper management of their funds.
 Deciding the Business Structure- It refers to determining the Business Structure which
will be helpful in ensuring that the Business can function smoothly. Assael Architects