This report includes two essays - one on employability and the other on SME. The first essay discusses 21st century skills and personal attributes that make an individual employable, while the second essay focuses on the challenges faced by SMEs in going global and possible solutions to overcome them.
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Table of Contents INTRODUCTION '..........................................................................................................................1 Essay 1............................................................................................................................................1 Clear understanding of employability........................................................................................1 Explain two main 21st century skills and two personal attributes that make you employable and justify why they are valuable in the workplace....................................................................1 Explain how could you develop one or more of these skills to be ready for the future workplace...................................................................................................................................2 Essay 2............................................................................................................................................2 Clear understanding of SME......................................................................................................2 Two major challenges that can stop an SME going global........................................................3 Possible solutions to overcome these problems.........................................................................4 CONCLUSION...............................................................................................................................4 REFERENCES...............................................................................................................................5
INTRODUCTION ' The following report includes two essays. The first is one is related to employability. It includes two main 21stcentury skills and two personal attributes that makes an individual employable. This includes how can an individual develop one or more skills for future success. Other essay is based on the topic SME. It consists of major challenges that stop SME to expand business in global environment and different solutions to overcome such problems. Essay 1 Clear understanding of employability Employability is defined as different context and meaning which describe a student's ratio of employment. Employability is an essential factor of the higher education. This is known as set ofobtainingunderstandingaspersonalattributeswhichwillfurtherhelpindeveloping individuals are employable and feasible for working and business environment. Employability is a concept which is related to getting jobs. This consists of broader attributes and skills it helps both employees and employers for working in the organisations effectively. Different skills are requiredfordevelopmentofemployabilityopportunitiessuchasproblemsolving,self- management, teamwork, learning capabilities, planning and organising. Search skills must be fulfilled in order to have effective working of the employees and Organisation. This helps companies to have skilled and talented employees who can work in an appropriate manner. Explain two main 21stcentury skills and two personal attributes that make you employable and justify why they are valuable in the workplace The skills of 21st century dead by different people for development of employability skills and learning skills. These are defined as universal needs that are required for a good career and this may vary in terms of career aspirations and value of the person. The skills of 21st century need for employability are communication, collaboration, creativity, thinking, positive mind, etc. Creativity is defined as essential skill which is the meaning of adaptation. On the other hand, creativity thinking is an initial quality for an individual to perform his job role in an appropriate way. These skills help in students for evaluating and analysing different topics which are related to innovation. Companies are benefited if employees are having innovative skills as in today's world there is huge advancement of Technology and due to this it is necessary to have competitiveadvantage.Collaborationasrelatedtoworkingofindividualingroupsand
achievement of goals in right time. Such skills are important for achievement of organisation objectives in specified time. There are different personal attributes which are helpful for people to do their job in an effective manner. This is a communication and optimism. Positive person has a peaceful mind and he is able to against all situations and do his work in right manner. Different problems are solved when individuals have positive approach towards different situations that create Kaios and problems. A positive person has power of managing his work in appropriate manner. An optimistic individual do not panic in negative situations. Communication is defined as the key factor which is helpful in understanding the steps of people. If there is presence of effective communication, then it is easy to have respect for each other at workplace. Collaboration is another skill that helps in different tasks and activities of the company in right mannersohelpfulinperformingdifferentfunctionsandactivitiesoftheorganisations effectively. Explain how could you develop one or more of these skills to be ready for the future workplace Skill development is defined as process of identification of skill gap and developing these skills. It has been analysed that if an individual is not having good communication skills, there aredifferentwaysofaccomplishingthese.Themainthingwhichcanenhancethe communication skill is showing respect towards task or activity. This includes multi tasking while communicating with others. This helps in developing more effective way in managing employeesinworkplace.Anotherwayofcommunicatingwithinorganisationincludes communicatingviaemailandtexts.Thus,itisnecessarythatanindividualmusthave communicationabilitiesformanaginghisorherworkintheworkplaceeffectively. Communication skills and creative thinking are two main skills that will help an individual in achieving success within the company. This will enhance multitasking and attainment of goals within time. Essay 2 Clear understanding of SME The full form of SMPS small to medium size organisation. This is helpful in maintaining revenue, assets and number of employees working in the company. The small to medium size organisation are those which have less than 500 employees working in the company. Search kind oforganisationsmakemajorityofbusinessindifferentcountries.Thesecompaniesare
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businesseswhichhavecertainlimits.Theabbreviationofthistermisusedbyvarious international organisations such as the European Union, the World Bank and the World Trade Organisation. SME's outnumber large organisations by wide margin and these also employ a lot of people. This can be explained with an example, the Australian SME's make up 95% of the business. It produces one third of the GDP and employ around 4.7 million people. Two major challenges that can stop an SME going global Internationalism is an essential factor which is helpful in maintaining the talent and retaining it in market. For SME’s globalisation or internationalism are two important factors that helps in growth and development. This is done by using digital transformation and this reduces the barriers for entering new foreign markets. Globalisation or Internationalism is defined as an important factor which is useful for economic growth of the company. A strong and attractive strategy is used by businesses for maintaining the brand image in foreign markets. The business managers who transforms from domestic organisation to international organisation are divided by in depth understanding of local markets, customers and tastes. SME’s are generally family business that started years ago. Globalisation has become a challenge for which SME’sare not prepared and they do not know how to cope up with this situation and enter new markets effectively. There are various barriers faced by small enterprises while going global such as internal as well as external barriers. The internal barriers include limited human resource, less information for locating and analysing markets, insufficiency of finance and difficulty of setting pricing strategies. On the other hand, External barriers include difficulties in transactions with foreign customers, competitors in international markets, regulations and rules that restricts exporting and globalising, low technological requirement and supply chain networks. These issues affect the functioning of companies in global market. Thus,these issues have to be overcome. The two main challenges that are faced by SME while entering into foreign markets is presence of competitors and lack of strong strategy. If a SME do not have strong marketing strategy, it is not easy to maintain a good reputation in market. Competitors are more strong in foreign markets. Thus, it is assigned that all organisations must be able to develop strong strategies in order to manage working in foreign markets.
Possible solutions to overcome these problems There are various problems that are caused while doing business. These challenges must be overcome by increasing the efficiency of the company. In this context of SME’s, there are different solutions for managing the adoption of culture. adoption of a culture of internationalism is essential. The number of employees hired in the company have proper knowledge of cultural intelligence, then only success organisations can be made in foreign markets. The leadership team sees strategy of internationalism as the key priority of international success of business. CONCLUSION It is concluded from the above discussion that the concept of employability skills is helpful for students to manage and handle their work and activities effectively. The Global expansion of SME’s is an important factor that is important in business world of today. This is evaluated that a student must have employability skills as this provides opportunities that a student must have to get a successful job. The second part of essay which is SME, it says that organisations must adopt effective and strong strategies that will help in capturing foreign customers. The globalisation concept is important as this helps in maximising profits and marketshare of the company.
REFERENCES Books and Journals Alauddin, M.D. and Chowdhury, M.M., 2015. Small and Medium Enterprise in Bangladesh- Prospects and Challenges.Global Journal of Management and Business Research. Benson, V., Morgan, S. and Filippaios, F., 2014. Social career management: Social media and employability skills gap.Computers in Human Behavior,30, pp.519-525. bin Atan, J., Raghavan, S. and Mahmood, N.H.N., 2015. Impact of training on employees' job performance:AcasestudyofMalaysiansmallmediumenterprise.Reviewof Management,5(1/2), p.40. Collet, C., Hine, D. and Du Plessis, K., 2015. Employability skills: perspectives from a knowledge-intensive industry.Education+ Training,57(5), pp.532-559. Kasiran, F.W., Mohamad, N.A. and Chin, O., 2016. Working Capital Management Efficiency: A StudyontheSmallMediumEnterpriseinMalaysia.ProcediaEconomicsand Finance,35, pp.297-303. Mishra, K., 2014. Employability skills that recruiters demand.IUP Journal of Soft Skills,8(3), p.50. Stewart, H. and Gapp, R., 2014. Achieving effective sustainable management: A small‐medium enterprisecasestudy.CorporateSocialResponsibilityandEnvironmental Management,21(1), pp.52-64. Suleman, F., 2016. Employability skills of higher education graduates: Little consensus on a much-discussed subject.Procedia-Social and Behavioral Sciences,228, pp.169-174.