The leadership of Small and Medium Enterprises are more often than not caught up in a catch-22 situation. While they are focusing on taking their business global and raise it up to the next level, most of their time gets eaten up by the day to day management and in many cases micro-management of the company.
For your company to grow, you have to rise up above the day to day management
IndiaMART Knowledge Services asked many experts and enquired about how SMEs, especially companies which are low on Human Resources and hence highly tightened on the available working bandwidth, can grow to the next level. A level where the top management is focussed on growing the company and not engaged in day to day micro-management of the company.
But my business needs me, how can I achieve this?
Many entrepreneurs, especially the Small and Medium Enterprise segment, always have been thinking about creating a self replicable and scalable structure for their business, which provides them with the time and resources in terms of critical band-width to take their business further.
The team of experts at IndiaMART Knowledge Services suggests the following to help SMEs achieve the next level of growth:
Business leaders in SME's need to work on the emotional attachment to their business. Appropriate investments in technology and people have to be made to ensure scalability and self replication into formation of strong business processes.
SME's must create, maintain and manage strong global alliances. These must be focused towards complimenting business values and propositions with partners who share the similar passion and hunger for global exposure working with a strategy in place.
The 7 Enablers of Growth for SME's:
As a result of constant interaction with SME's in India and the learning's in the past, our Knowledge Services team has put together these 7 enablers of growth for SME's:
For your company to grow, you have to rise up above the day to day management
IndiaMART Knowledge Services asked many experts and enquired about how SMEs, especially companies which are low on Human Resources and hence highly tightened on the available working bandwidth, can grow to the next level. A level where the top management is focussed on growing the company and not engaged in day to day micro-management of the company.
But my business needs me, how can I achieve this?
Many entrepreneurs, especially the Small and Medium Enterprise segment, always have been thinking about creating a self replicable and scalable structure for their business, which provides them with the time and resources in terms of critical band-width to take their business further.
Source: http://www.banking4tomorrow.com/wp-content/uploads/2010/09/SMEsucccess.jpg
The team of experts at IndiaMART Knowledge Services suggests the following to help SMEs achieve the next level of growth:
Business leaders in SME's need to work on the emotional attachment to their business. Appropriate investments in technology and people have to be made to ensure scalability and self replication into formation of strong business processes.
SME's must create, maintain and manage strong global alliances. These must be focused towards complimenting business values and propositions with partners who share the similar passion and hunger for global exposure working with a strategy in place.
The 7 Enablers of Growth for SME's:
As a result of constant interaction with SME's in India and the learning's in the past, our Knowledge Services team has put together these 7 enablers of growth for SME's:
- Strong knowledge and understanding of target market
- Strong sense of Customer's perceived value perception of the proposition
- Quality and Technology processes to be put in place
- Strong Business Management Systems (Business Processes) to be implemented
- Strong focus on People growth and knowledge management
- Strong systems in place to manage finances
- Strong processes to drive and manage Innovation
Though there can be more, but these are the common most enablers to address the growing concern of SMEs regarding business growth- building strong business processes is the key.
To know more on- How you can free yourself from your day to day operational role to scaling up your business and still having enough band-width to look at global opportunities, drop in a comment to this post and our team of experts will touch base!
No comments:
Post a Comment