Managing SMEs: Growth and Development Strategy for The Furniture Practice

Managing SMEs

Executive summary
The current project is based on evaluation of exiting UK SME and along with design better
growth and development strategy for the business. The current study is based on The furniture
practice that was founded in 1997, with a vision of creating and providing furniture for office
and house space. Along with this the Furniture practice is working for last 24 years in this sector
with interior professionals to gain improved success. The current study is based on secondary
sources of information which comprises of discussion about the nature of the entrepreneur
behind the venture, SME start-up processes, current level of demand and the competitive
environment, challenges of managing and running the business and SMEs current growth and
development strategy.
Table of Contents
Managing SMEs.......................................................................................................1
Executive summary..........................................................................................................................2
INTRODUCTION...........................................................................................................................1
FINDINGS.......................................................................................................................................1
The nature of entrepreneur behind venture.................................................................................1
Process of SME start-up..............................................................................................................2
Concept of business and competitive advantage sources............................................................2
Demand and competitive environment.......................................................................................3
Development and growth of business.........................................................................................3
challenges to run and manage a business:...................................................................................4
Current growth and development strategy of organisation.........................................................5
Available government support measures for SMEs....................................................................5
CONCLUSION................................................................................................................................6
RECOMMANDATIONS................................................................................................................6
REFERENCES................................................................................................................................7