How Technology and Innovation Is a Key Factor for SMEs to Grow in India Small & Medium Enterprises (SMEs) are socially and economically important sectors in India that provide 60 million jobs representing 15% of India’s workforce through 26 million enterprises. Due to their unique characteristics and their multi-faceted contributions in terms of technological innovations, employment generation and exports, etc., SMEs have been considered as one of the driving forces of modern economics. Among their
SME the acronym which stands for “Small and Medium Scale Enterprises” can be said to describe independent organizations or firms which employ fewer that a certain number of employees usually 250 as defined in the European Union , 300 in Nigeria , 500 in the Unites States of America and 200 in some other countries . The number of employees however is not the only criteria for qualifying SMEs: They are equally defined by their annual turnover which has been set to not exceed 50 million euro (applicable
business creation. A review of literature identified three main schools of thought in regard to entrepreneurship and SMEs. First, a humanistic school of thought focuses on the entrepreneurs and their personal respective concerns. Accordingly, the entrepreneur's personalities and backgrounds including family, education, work experience and entrepreneurship, gender, age etc., play decisive roles in creating successful new. Second, the environmental factors were forwarded as influencing factors, referring
to meet their own needs” said Gro Harlem Brundtland. The essay “How can SMEs respond to the challenges of responsibility and sustainability in a way that might lead to sustainable future of capital city of your country of origin” aims at providing arguments regarding one of the South East Asian countries, Malaysia’s capital city-Kuala Lumpur. According to the essay, …The essay introduces… II) Discussion The definition of SMEs in Malaysia are solely based on a settled quantitative measure; for example
aim of the study is to investigate the reasons which prevent SMEs from operating globally and to develop a strategy to assist SMEs in achieving globalization. The research builds on the theoretical framework that globalization is a key factor contributing to the success of SMEs. Data will be collected by distributing a standard questionnaire to a select group of business consultants who specialize in relocation or globalization of SMEs. The findings of the survey will be used to identify the constraints
Small and Medium Enterprises (SMEs) contribute for 56% of total employment to the Dutch economy (CBS, 2010). Opposed to their larger counterparts, these SMEs have limited resources and have to deal with relative more uncertainty. As all firms, SMEs have to effectively use their resources to survive. Many of these small and medium companies are dedicating resources to strategic planning in the post start-up phase (Storey and Greene, 2010). One of the main purposes of strategic planning is to promote
characteristics, which involve strategy, process and organization, play a significant role to make decision on the development of innovation types. Conventional strategy is focused more on incremental innovation through development or improvement of existing products and services, while technology strategy encourages radical innovation by focusing on emerging trend. An additional internal characteristic of SMEs consist
competitiveness are only some of the most common goals of virtually every company. The role of information system for an enterprise has grown significantly in past decade. Nowadays it is impossible to reach the competitive advantage without information system (IS) supporting these goals. An efficient IS needs a sustainable strategy. For the scope of this work it is assumed local corporation as a small to medium enterprise (SME) and mainly active on one national market. Its opposite, a multinational corporation
will gain general “empathy” to the society as a whole. When analyzing social responsibility and its responsiveness, one must have basic knowledge of the structure of the business sectors first. According to the Federation of Chambers of Commerce, SMEs constitute the largest part of the global economy where 80% of the total workforce
preparation of accounting statements and its information usage the business. In the context of SMEs, accounting information is important as it can help the firms manage their short-term problems in critical areas like costing, expenditure, and cash flow also taxation daily accounting transactions by providing information to support monitoring and well control. Defined Small and Medium Enterprises (SMEs) Small and Medium Enterprises have been defined in various ways according to the capital of the