Challenges in Graduate Employability and SME Globalization Solutions

This report delves into the challenges faced by graduates in securing employment, focusing on essential employability skills such as communication, professionalism, adaptability, and initiative, while also examining the crucial role of flexibility and problem-solving. Furthermore, the report identifies significant hurdles for UK SMEs aiming to expand globally, specifically addressing language barriers and legal and political factors. The report proposes practical solutions, including hiring local staff and specialists, to overcome these obstacles and facilitate successful international expansion. The report emphasizes the importance of adaptability in the face of dynamic business environments and highlights the need for SMEs to generate funds for global ventures. The report concludes by providing insights into how businesses can navigate these challenges and achieve their goals.

Understanding
Business

Table of Contents
MAIN BODY...................................................................................................................................1
Question 1 Challenges facing graduate employability prospects in meeting the needs and
expectations of employers...........................................................................................................1
Question 2 Two challenges currently facing UK SMEs in going global and suggest possible
solution to overcome these challenges .......................................................................................2
REFERENCES................................................................................................................................5

MAIN BODY
Question 1 Challenges facing graduate employability prospects in meeting the needs and
expectations of employers.
Employability is the term which refers to individual ability to gain initial employment,
maintain employment as well as obtain new employment is needed. In simple words, it is related
to individual capability of getting and keeping work done (Graw and et. al., 2019). In addition to
this, employability is having set of knowledge, skills, understanding as well as personal attributes
within particular person which make him/her employed within that they can be satisfied and
successful. Apart from this, it can be said that there is requirement of employability skills within
individual for getting career as well as future opportunity Within individual there is requirement
of several skills as well as personal attribute for becoming employable. Explanation of these
skills are as follows:-
Communication is most common employability skill which needed within individual to
get employable. Because employer look for candidate who know how they have to get their point
across clearly, articulately as well as professionally. Along with communication skills it is
important to be a good listener because it help in taking opinion of other people in board activity
as well as also assist in taking feedback (Steiner-Khamsi, Appleton and Vellani, 2018). In
addition to this, communication skill is needed within individual who want to get employed
because it will help in sharing important information with other colleagues. Along with this, also
assist in taking their opinions related to particular task. Apart from this, another employability
skill is professionalism because employers expect that person to who they are hiring is
committed to deliver best standards, adopt right procedure of conducting activities as well as
maintain high level of confidentiality. If individual is not performing allotted task in professional
manner then it will give negative impact on working of entire organisation. So it is necessary to
have professional skills as it result in accomplishing goals and objectives within effective
manner. These are two skills which is needed within individual for making them employable and
it also help in gaining better future opportunities.
Apart from this, there are some personal attributes on that employers focus while hiring
candidates because these will help them in completing assigned work within effective manner
(Smith, 2018). adaptability is one of personal attribute which employers want within candidate
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while hiring them as it is important to adapt several things while working within an organisation.
Because business environment is dynamic in nature and several modification take place within
that which require to adopt several new skills and some other things for conducting operations of
company in effective manner. Along with this, another personal trait is initiative which is most
important as it is needed within individual because several situation rise within organisation
which require to take initiative (Zhang and Zhu, 2018). As initiative taken by individual help
organisation in accomplishing their goals as well as objectives within effective manner. Along
with this, individual skills as well as personality traits play important role in company and have
some value also. As it help in conducting activities within effective manner and also assist in
accomplishing goals and objectives within required duration.
Apart from this, in future several situations take place for which individual have to
develop some skills in them. So they can come out of that particular situation in effective manner
and accomplish goals and objectives within required duration. Most important skills which
needed to be develop is flexibility because in business several condition change quickly which
require to be react quickly by employers as well as their employees (Täuscher and Laudien,
2018). Within this flexibility play important role as it help in adapting required things within
more effective manner. On the other hand, another skills is problem solving because now a days
within business environment several situation rise due to that company looking for people who
are motivated for taking challenges with minimal direction. Thus, it is important that employees
have to see when something require to be done and react accordingly. In simple term it can be
said that, individual have to develop these skills within them for getting better future
opportunities in future. As it help in conducting activities within effective manner and also assist
in accomplishing goals and objectives within required duration.
Question 2 Two challenges currently facing UK SMEs in going global and suggest possible
solution to overcome these challenges
Small and medium size enterprises are those which maintain revenue, assets as well as
number of staff members below certain threshold. Along with this, they play important role in
economy, providing job opportunity and help in shaping innovation. Government of particular
nation also offer incentives including favourable tax treatments as well as better access to loans
because these companies help in development of economy. In addition to this, medium size
enterprise has fewer than 250 staff members and turnover up to €50 million as well as balance
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sheet total approx. €43 million. Whereas, small business have staff of fewer than 50 and
turnover up to €10 million as well as balance sheet of approx. €10 million. Apart from this,
micro-business has fewer than ten employees and either a turnover of up to €2 million or a
balance sheet total of up to €2 million (What is the definition of an SME, 2018). When SME
organisations going to establish their business at global level there are several challenges which
they face such as culture, political changes, language barriers, legal legislations, tax tariffs and
many more. There are mainly two current challenges which UK SME is facing while they are
establishing their business at global level explanation of these challenges are as follows :-
Language barrier is most common challenge which small and medium size organisations
is facing because every nation have their own language. While conducting business activities at
global level company have to adopt those local language of particular area. It may create
difficulties for them in conducting their business operation in effective manner (Yang, Ren and
Adomavicius, 2019). Along with this, company have to hire employees while establishing their
business at particular area. For them it is important to hire that particular local area staff
members because they are aware about language of that particular area. Thus, hiring local people
of that particular area help small and medium size company to overcome with the challenge of
language barriers. Along with this, for existing staff members company have to provide language
related sessions so they also get basic knowledge about language of that particular nation. In
addition to this, it will help business firm in dealing with their customers in more effective
manner as well as also in understanding their need and wants.
Apart from this, another challenges is related to legal and political factors as it is very
simple that every nation have their own rules, regulation as well as policies which are designed
by government of that particular nation. For each and every organisation it is important to follow
these policies so they will not face any issue and conduct their operations within effective
manner (Petzold and et. al., 2018). Thus, for small and medium size organisation legal and
political factor became major challenges as companies have to modify their existing strategy as
per specific country regulation which became sometime difficult for companies. It became major
challenge because sometimes few regulation get slip from mind which may result in any strict
legal action for those business firm. Thus, to overcome with this challenges it is important for an
organisation to hire specialist who keep focus only on implementation of legal rules and
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regulation. Because in that situation there will be less chances of missing any regulations or
policies.
These are major challenges which small and medium size organisations are facing while
expanding their business at global level. Along with this, there is one major challenge is money
as they have limited funds and for business expansion there is requirement of funds (Najmaei,
2018). This also create challenges for small and medium size enterprises, to overcome with this
issue company have to generate funds. There are several sources of funds generation such as
bank loan, family and friends etc.. In simple term it can be said that every challenge have their
solution also which company can implement within their working as it also result in easy global
expansion.
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REFERENCES
Books and Journal
Graw, S. and et. al., 2019. Understanding business law. LexisNexis Butterworths.
Steiner-Khamsi, G., Appleton, M. and Vellani, S., 2018. Understanding business interests in
international large-scale student assessments: a media analysis of The Economist,
Financial Times, and Wall Street Journal. Oxford Review of Education, 44(2), pp.190-
203.
Smith, T. W., 2018. Challenging Nature: understanding business perceptions and actions
regarding biodiversity(Doctoral dissertation, University of Leeds).
Zhang, X. and Zhu, T., 2018. Understanding Business–Government Relations in China:
Changes, Causes and Consequences. In Business, Government and Economic
Institutions in China (pp. 3-45). Palgrave Macmillan, Cham.
Täuscher, K. and Laudien, S. M., 2018. Understanding platform business models: A mixed
methods study of marketplaces. European Management Journal, 36(3), pp.319-329.
Najmaei, A., 2018. Understanding Business Models on the Cloud. In Encyclopedia of
Information Science and Technology, Fourth Edition (pp. 1141-1152). IGI Global.
Petzold, N. and et. al., 2018. How do they do it? Understanding business model innovation in the
context of disruptive innovation. In ISPIM Conference Proceedings (pp. 1-53). The
International Society for Professional Innovation Management (ISPIM).
Yang, M., Ren, Y. and Adomavicius, G., 2019. Understanding user-generated content and
customer engagement on Facebook business pages. Information Systems Research,
30(3), pp.839-855.
Online
What is the definition of an SME, 2018.[online].Available
through<https://www.simplybusiness.co.uk/knowledge/articles/2018/12/what-is-an-sme/>
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