Small Business Management Assignment Example | Topics and Well Written Essays - 750 words - 1

Small Business Management - assignment Examplehe proposed business is established, product and services improve in quality as the managers get through more experience in production and in some situations the original business concept and circumspection change as entrepreneurs are hit by the reality on the ground (Films for the Humanities & Sciences (Firm), Films Media separate and Video Education Australasia, 2010, p.52).Small companies can avoid becoming obsolete by scanning the commercialize and the threats by carrying forbidden a clear and concise analysis of their business environment under the PEESTLE (Political, Environment, Economic, Social, Technology, estimable and Legal factors) and SWOT analysis (Strengths, Weaknesses, Opportunities and Threats) so as to establish the available opportunities and threats. With the above mentioned analysis, such businesses would put on their strengths and weaknesses hence able to employ effective strategies that would enable them foc us on their strengths as they look for alternatives to control up the loopholes (Sitarz, 2011, p.45).Technology based companies can only keep up with the rapidly changing markets, products and competitors by remaining updated with the current trends in the technology industry as well as ensuring that they are advance(a) enough so as to outdo their business rivals. This can be achieved by ensuring that they carry out regular business analysis and market research so as to establish the exact call for of their targeted customers (Sitarz, 2011, p.45). Moreover, they have to ensure that they have highly innovative and creative product development teams. Having the right system is the most crucial factor that determines success of any type of business. Raising resources becomes easier as long as a given business is applying the right business strategies, and at times is able to use otherwise peoples money, an aspect that is highly encouraged by economists and business experts.Entrepr eneurs usually experience the scrap of differentiating their companies from the