Management Accounting 1 Report: Mid-Market Innovators' Analysis

This report provides a literature review and analysis of mid-market innovators, exploring their market strategies, customer focus, and financial considerations. The report examines the pricing approaches used by these companies, which often involve dynamic pricing based on supply and demand, as well as their emphasis on customer experience and lean organizational structures. It also addresses the challenges these innovators face, such as securing financial resources, recruiting and retaining talent, and maintaining a competitive edge. The findings highlight the importance of quality and customer satisfaction in the mid-market, the impact of technology, and the need for these businesses to make smart choices to succeed. The report also references key challenges faced by these companies including recruiting and retaining talent, maintaining a healthy work culture, executing strategies, increasing revenue, beating competition, increasing market share, communicating effectively, securing financial resources, and achieving economies of scale.

MANAGEMENT
ACCOUNTING

3. Literature review
According to Michael (2017), various sources have been taken into consideration to
understand the concept of mid-market innovators and their recent trends. To understand how the
mid-market innovators have developed a market for themselves in a cut-throat competition.
According to Popescu and Wu (2007) , middle market comprises of small and middle
enterprises having an employee strength between fifty to one thousand and a turnover between
$10 to $500 million. The pricing approaches used by such companies include dynamic form of
pricing that changes according to supply and demand of the customers. It has also been observed
that these companies tend to focus on maximization of customer experience and leaner
organisational structures.
According to Kaplan and Atkinson (2015), allocation of funds needs to be done carefully
due to limited availability of finances to these innovators. Due to advent of technology, the mid-
market innovators are not able to invest much in these and may end up using old technology for
many years in their operational functions across the organisation. Freshness of skills and quality
of goods and services offered stand high on the priority scale as compared to their counterparts
that include large businesses. The success of middle-markets has been attributed mainly to the
smarter choices made by them. While answering the question, which are the major foundations
for companies to build loyalty and trust?- it has been observed that 60% of the executives of
mid-sized companies see increased focus on customer experience as their priority. There are
eight major challenges are faced by these companies- recruiting and retaining talent,
maintenance of healthy and accountable work culture, executing strategies to achieve goals,
increasing top-line earnings on a year-on-year basis, beating competition, increasing market
share, communicating effectively, securing financial resources and achieving economies of scale.
5. Findings
In this analysis middle market only focus on the quality and the customer satisfaction
which is very important for any business. Because large organisation run their business for the
purpose of profit. Small business used cheap quality material to build products because of the
shortage of funds. Middle market set their prices according to demand of products and the supply
fulfil by the market. Company always clear with it's goals and vision which is going to help

further to take any step. Innovation is the best part of any organisation, if any business create
something innovative than it will become a market leader. Technology help the organisation to
increase their sales and productivity which is ultimately increase the profit of the company.
Basically small or large enterprises is not able to change their technology because it
involves huge amount of investment. Small company do not have sufficient funds to invest in the
technology. Large business already invested huge amount in their technology so they can't
change technology frequently but middle level companies can do this. Large organisation mostly
focus on promotions but middle-market only focus on making better quality products and
provide better services. More than 60% middle level organisation improve their image in the
customer's mind. These organisations make sure that they will hire right people for the right job
and build qualified workforce. After that try to retain the employees of the organisation and
maintain their skills. Middle-market businesses have to follow strict budget. Digital platform
increase the sales of goods and brands will able to sell their products direct to the customers.
Middle-size company have to face eight big challenge if company survive than it goes longer. To
create supportive network is a big issue in the market and it is faced by every middle size
organisation.

REFERENCES
Books and Journals
Michael, D. (2017). Rhythm Breakthrough Conference 2018. Retrieved January 17, 2019, from
http://breakthrough.rhythmsystems.com/
middlemarketcenter.org. (2015). A RepoRt fRom the NAtioNAl CeNteR foR the middle mARket
ANd.
Popescu, I., & Wu, Y. (2007). Dynamic Pricing Strategies with Reference Effects. Operations
Research, 55(3), 413–429. https://doi.org/10.1287/opre.1070.0393
Kaplan, R. S., & Atkinson, A. A. (2015).Advanced management accounting. PHI Learning.