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Starting a new business needs important guidelines such as: - Setting the goals - Planning - Organizing - Leading - Controlling - Monitoring In my project i'll talk about how to control and in terms improve businesses, especially small ones. My company's strategy is based upon: - Multi-suppliers: to eliminate shortening from single supplier, cosmetics and medicines are taken from more than one source.
Starting a new business needs important guidelines such as: - Setting the goals - Planning - Organizing - Leading - Controlling - Monitoring In my project i'll talk about how to control and in terms improve businesses, especially small ones. My company's strategy is based upon: - Multi-suppliers: to eliminate shortening from single supplier, cosmetics and medicines are taken from more than one source.
Starting a new business needs important guidelines such as: - Setting the goals - Planning - Organizing - Leading - Controlling - Monitoring In my project i'll talk about how to control and in terms improve businesses, especially small ones. My company's strategy is based upon: - Multi-suppliers: to eliminate shortening from single supplier, cosmetics and medicines are taken from more than one source.
guidelines such as: - Setting the goals - Planning - Organizing - Leading - Controlling - Monitoring In my project ill talk about how to control and in terms improve businesses, especially small ones. Definition of a small business A small business is a business that contains a small number of employees & small volume of sales: - In Australia, any business that contains employees < 15 is called a small business. - In EU (European Union) < 50 employees. - In USA < 500 employees.
This means that the definition of a small bus. vary from one country to another. Importance of small business Small Businesses Provide Better Customer Care Small Businesses Allow Owners the Freedom to Innovate Small Businesses Can Change Course Rapidly Small Businesses owners Are Highly Skilled Small Businesses Are the Backbone of the Economy
Advantages & Disadvantages of Small Business 1. Location: researches should done to choose the best suitable strategic and attractive location. 2. Competitors: owners & managers should differentiate their product to achieve competitive advantage over the market. - Competitors is one of the most important factors upon building a new (small) business.
Continued 3. SWOT Analysis: it is used to interpret the external & internal environments of the organization. - For internal environment: * Strength: - Suitable location - Competitive advantage - Attractive design for the workplace - Free delivery
Continued * Weaknesses: - decreasing in demand - Limited HR & staff - High cost of production - For external environment: Opportunities: - Development of new tech. - Government regulation softening - Big customer base Continued Threats: - Price competition - Economic pressure - New substitute product Strategies for Improving Small Business For the small business I have chosen in my project (pharmacy); my companys strategy is based upon: - Multi-suppliers: to eliminate shortening from single supplier, cosmetics and medicines are taken from more than one source. - Cost-cutting: by eliminating wastes & errors, redundancies, & inefficiencies in work areas
Continued - Retrenchment Strategy: designed to address organizational weaknesses and deficiencies that are leading to performance declines.
Recommendations - Build a strong relationship with customers based in trust will lead to make them loyal. - Continuous improvement of the products quality & customers service is essential. - Compensate and reward the innovative employees. - After sales services is the golden role. Conclusion:
Updating with continuous improvement leads to developing more & more the company.
The basic role : good reputations always leads to satisfied customers that in terms leads to make them loyal, and at last achieving profits