Analyzing the Effects of Brexit on Small and Medium Enterprises

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TABLE OF CONTENTS
Introduction......................................................................................................................................1
LO1..................................................................................................................................................2
LO2..................................................................................................................................................3
LO3..................................................................................................................................................4
LO4..................................................................................................................................................6
Conclusion.....................................................................................................................................11
References......................................................................................................................................12

LIST OF FIGURES
Figure 1: Honey & Mumford's learning cycle.................................................................................7
Figure 2: VARK model...................................................................................................................9

Introduction
The Brexit is a withdrawal of the UK from the EU and its impact hugely to the small and
medium enterprises (SMEs). Regardless of either the no deal or Chequers Agreement Brexit
takes the effect in which EU citizen’s free movement will end. It will impact directly on the UK
business that is employing the citizen of the EU in the UK. The rules of employment for small
business are also changes due to Brexit. In the report, the knowledge of management and
business topics will be highlighted along with the literature review of SME related topic. Also,
the objectives and aims of SMEs compared to research project will also be elaborated in the
report. Lastly, personal reflection will be shown in the report that is supported by various
theories and leadership styles. In the UK around 130,000 small businesses will be mainly forced
to pay the VAT upfront usually on all imported goods from the EU after the Brexit.
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LO1
Besides a traditional internal knowledge source that is the own experiences of SMEs which allow
the international knowledge to get obtained outside the organizational boundaries of SMEs in
which spillovers, social ties and business networks is there. By concerning the previous
experiences, it is being developed mainly by an organization by managing the complexities and
also come up with the several challenges for entering into the developing country (Brannen et al.,
2017). For example, SME internationally experienced helps in knowledge about
internationalization knowledge basic such as knowledge of how to market the aboard, what kinds
of information is needed, and how it will be obtained.
As based on extant literature review, four main challenges have been identified which SMEs is
facing in acquiring the knowledge while entering into developing country after Brexit. The four
main challenges are myopic the managerial thinking, which prohibits the adopting of the unique
institutional environment potentially. The lack of well-developed agencies which disseminate,
analyze and collect the social and economic information in the developing country. The
relevance to the institutional knowledge is embedded mainly in the local network, and the local
networked of business is locked to the foreigners. This all suggests that the challenges in the
acquisition of the knowledge when entering into the developing country are contingent upon
various countries which are involved in this (Baesens et al., 2016).
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LO2
According to Cumming & Zahra (2016), stated that it would provide the entrepreneurship
implications and international business overview of the Brexit. Brexit is the monumental event
which is likely of having serious consequences, by raising the various challenges for an
organization all around the world. It is that effect that has maintained the economic, cultural and
political relations historically within the UK. The future relationship between the UK and EU is
hard to predict and less bright. The main fear between the researchers is mainly that the research
funding of the EU will dry up. As is the status quo, the UK research future is different certainly.
According to Bloom et al., (2018), the UK decides to leave the European Union in the year 2016
and created substantial uncertainty mainly for the UK business. This uncertainty nature is
completely different from typical uncertainty as of its political, breadth and length complexity.
The uncertainties all around the Brexit is primarily all about an impact on the business on longer
terms instead of short terms by including the uncertainty of the timing of the transition
arrangement as well as all around the Brexit nature (Eriksson and Kovalainen, 2015). The
campaigners of Brexit told its constituents which the UK is no longer responsible for paying into
a budget of EU. Brexit has made the population worrying percentage who will subscribe to
nationalism growing trend all around the world. A vote of leaving the European Union will
signify the growing distrust in commerce organization and worldwide trade.
According to Farstad et al., (2018), stated that UK potential implications are an exit from the EU
for survival and success of the Climate change act 2008, climate policy, and country flagship.
The hard and soft impact Brexit mainly for main features is being arrested in building on the elite
interview and building the documentary evidence along with the policy shaper and policymakers.
When leaving EU, it will allow Britain in terms of reestablishing themselves because as the truly
independent nation the Britons eventually will have to limit the amount of leisure, travel or work
which they are enjoying currently within the borders of EU (Fayol, 2016).
The economist forecast which separation might result in the tumultuous financial future which is
seen British Pound Sterling devaluation in which there is a decline of the country foreign
investment and shake of the global financial markets.
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LO3
The SMEs objectives and aims related to a specific research project is to help the business to
grow more rapidly, also helps every team member to understand the proper direction of your
business. The main objectives of our business are to improve collaborations’ and teamwork and
helps in achieving the objectives. The new starting is the main opportunities which set some
timescale of our business to review and reflect. This will not only help in evaluating the
effectiveness of strategies from the previous year; this will helps in setting your sights to achieve
the new objectives and aims and also helps you in achieving success (Aguinis et al., 2019). Your
goals must part the plan of the business and is become likely your objectives and aims of the
business.
By setting SMART objectives, the goals of your business will help you to evaluate the objectives
and goals which you have set properly. Also always be realistic of what you achieve, this can be
helpful for you in terms of breaking all the significant steps into the smaller chunks.
It is the system which helps in measuring the goals as well as also keeps you to keep in the track.
Also, this will keep this simple, like ticking off the task from the list as well as also use the
complex processes of measurement if this is relevant for the business. It will help in utilizing and
selecting the proper varied resources, acknowledged the information sources appropriately. It
will help in using and determining critical information. It will help in meeting with deadlines by
following the work plans and agreed procedures. It will also show commitment, enthusiasm and
initiative to a task.
This will make certain the countries of UK they seem the less hospitable in order to innovative
immigrants but either the Brexit deter the terrorism, make the stronger the UK and buy an
economy by independence have yet to seem. The big deals do not know the extent of an impact
on trade relationship, homes, jobs with the different countries and outside countries of union see
fragmented Europe because of the weakened one (Mezirow, 2018).
Brexit can break from the UK through the 2019 year, but of being an initial time in the history
which required a catalyst to the Brexit is invoked and is complexity a deal of being unraveled the
extension is not surprising. At a glance, it is what the UN interrupted process of Brexit looks like
this. The UK in the year 2015 is being liable for the £18 billion in that contribution.
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Current the fears are based on the speculations about the futures of people. Based on the future of
the development, innovation and research in the UK that is different certainly that exactly knows
what this looks like as well as it can be silver linings to come. This is enough more than anything
that led to a negative reaction from the UK researchers to vote of Brexit, with the palpable shock
sense, fear and disappointment, which is reported through scientific journals. Therefore, it is not
fear only which researchers have been stated. The main scientist in EU citizens and UK who is
receiving the grants of its research that moves along to the UK (Brockett and Hiemstra, 2018).
Thus, so much fear for a future of its international collaborations as well as for non-EU-UK
citizens’ security who are working in the UK.
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LO4
As per to my views, the culture of learning is the primary organizational collection, processes,
practice and values. Such conventions will motivate the organization and employees to develop
better competence and knowledge (Bloomberg & Volpe, 2018). The organization with the
culture of learning will motivate continuous learning as well as also believes that the system is
influenced by each other. The business environment since changes quickly, there are much small,
a medium organization will feel more pressure in learning faster than that of competitors or
losing the risk the business.
When leaving the EU, it will allow Britain in terms of reestablishing themselves because it is
truly independent nations. The similarities in among the elections are of shocking of the Donald
Trump of the UK, which is shocking approval of the Brexit. It is such support which is used to
measure in leaving them is called the Brexiters, and it is come with on the top in mainly four
countries of the UK. While the pro-Brexit campaigners are to claim that the contribution of the
UK is to EU is funding which is redirected now to the British research and science, certainly,
there is no guarantee which is in this case.
The fears currently are based on the speculation of the futures and needs of peoples. Once the
negotiations are under the way mainly for the UK in terms to find and leave the new place
globally in which Brexit implication has become clear. By developing the learning culture, no
longer is there, which is just another comparatively that of the fanciful idea and opinion. This is
becoming imperative more for an organization in order to cultivate the learning of what they are
wishing for staying in business. The main question which each business is facing because this is
considers the strong learning culture in terms of embracing the business environment.
Honey and Mumford Learning Styles
The Kolb is an inspiration for numerous theorists. For instance, Honey and Mumford's model,
the Learning Styles Questionnaire is derived directly from Kolb’s theory. It notes its debt to the
Kolb’s theory; therefore, also they note that which produced its own learning style questionnaire
as they have found Kolb’s LSI which has low validity face with the manager (Coghlan, 2019).
So instead than directly asking with the people how it will learn because the Kolb’s LSI which
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does, the Honey and Mumford will give them the questionnaire which probes the general
tendencies of behavior. Its reasoning is many people is never having consciously they really
learn.
Figure 1: Honey & Mumford's learning cycle
(Source: http://www.nwlink.com, 2019)
Honey and Mumford’s leaning cycle as well as differ slightly from the Kolb’s
 Having the experiences
 Reflection on this
 Drawing its conclusion
 By putting the theory into the practice of seeing of what actually happens.
As based on this result, learners are move around in which cycle jump again in any learning part
and after then this quit of what they will dream itself as being successful. It is model will
similarly look to it. It is such kind of people who are learning by doing things. They also need to
get the hands dirty, which are used to drive both the feet, first.
Reflector: It prefers to learn from the activities which allow them to review, think and watch and
what has happened. It likes to use brainstorming and journals. The lecture will help in providing
expert analysis and explanations. Such learners are like to understand such theory that is behind
an action. Also, they need facts, concepts and models to engage with the process of teach
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(Dhingra et al., 2016). Having an approach of open-minded to the learning is involving itself
fully as well as without the bias in the new experiences.
Theorist: It also prefers thinking issues by in the step by step manner. For examples, reading,
models, studies, case studies, analogies system and lectures. Through talking with an expert is
not helpful normally. The learners are like to properly understand such theories behind actions.
Also, they require the facts, concepts and model to engage more in the process of learning. Prefer
to synthesize and analyze, drawing of the new information in logical and systematic theory.
Pragmatist: It will also help in preferring in applying the new learning to the actual practice of
seeking if they will work or not. Likes, the observations, field work and laboratories and
coaching, feedbacks that link between problems and task on the hand. Such people are in need to
see how it put the learning into the practice of the real world (Truong, 2016). The abstract games
and concepts are of limited use until it may seem to the way of putting an idea into the actions.
The techniques, theories, trying innovative ideas and experiments are to see what they worked.
Activist: It will prefer the new experiences challenge, role-playing, assimilation and involvement
with the others. For example, the small group discussion, problem-solving skills etc. Such kind
of people will learn through thinking and observing what happened. Also, they can avoid the
leaping in as well as also prefer to watch from the sidelines. So to view experiences and prefer is
to the stand back from numerous perspectives, by collecting the data as well as also take time so
to work towards and draw the real conclusion.
VARK model
The styles of learning are a popular concept in education and psychology and are intended for
determining how it will learn best. VARK learning styles models will suggest that four main
kinds of learners are there that are as follows:
Different ways are there of learning style categorizing by including the Jungian learning style
and Kolb's model. VARK model is many popular representations. Fleming will develop the
inventory that is designed in helping the business about their learning preferences of an
individual (Weng et al., 2017). Fleming model that is referred often to as the learning style of
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VARK in which the learners are being determined through either they are having preferences of
auditory learning, visual learning, kinesthetic learning or writing and reading.
Figure 2: VARK model
(Source: mylearningstyleqxtan97.blogspot.com, 2019)
Visual learners: The visual learners will learn the best through seeing. The graphics displays
like videos, handouts, illustrations, diagram and chart and are helpful the tools of learners for the
visual learners. The people who mainly prefer such kinds of learning that would instead of seeing
the presented information in the visual instead than in the written form. It is the preferences
which include the information depiction in flow charts, graphs, maps and decides and circles
which people use in representing that is presented in words.
Aural learners: It will learn best through hearing information. It will also tend to get the deal out
of the lecture as well as also good in remembering the things which they are saying. It is the
perceptual mode which describes the preferences mainly for the information which is spoken or
heard. The learners who have much of this because its main report preferences are that they will
learn the best from the lecture, web chats, mobile phones, emails, discussion and talking the
things through. It will include the talking that is out of the loud and thinking to it (An & Carr,
2017).
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