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Hi, need to submit a 1500 words essay on the topic Small Business Management Evaluation.Download file to see previous pages... Small business management entails precise analysis of how an entrepreneur
Hi, need to submit a 1500 words essay on the topic Small Business Management Evaluation.
Download file to see previous pages...Small business management entails precise analysis of how an entrepreneur provides the goods and services of his business in the market. It involves identifying the strengths and weaknesses of the business to be able to handle them in the production stage and ensure competitive advantage. An efficient management of a small enterprise requires an efficient marketing plan strategy that indicates the approach of the venture operation. The owner should establish the structures of the business that can effectively define the qualified professionals for the job. Operation of the small enterprise entails control of marketing strategies, sales, and advertising of the enterprise (Zimmerer &. Scarborough, 2005, p. 12). Experts agree that marketing and sales represent the cornerstones of the starting business. Therefore, management of marketing sales is increasingly crucial for development and stability of the venture. In addition, the operation of a small enterprise requires various operation skills, for instance, strong communication skills. Strong verbal and listening abilities are increasingly crucial in small enterprise. A sales manager must utilize proper words in an appropriate manner to pass the message accurately and clearly so as not to offend the clients. He must ensure effective customer care service to maintain customers for the productivity of the business. An employee motivation skill is crucial – the manager must device workers motivation strategies to ensure that workers operate towards attaining crucial successes. Time management skills enable the manager to operate under strict time schedules and ensure fixed deadlines are met in time (Pickle &. Abrahamson, 2006). Conflict management skills – entrepreneurs should be wise and diplomatic to be able to mediate local disputes that occur regularly in the business. Mitigating the challenges as they appear enables the manager to prevent future challenges that may slow down or interrupt business operations. Negotiation skills, on the other hand, allow entrepreneurs to negotiate with clients and workers. Managing a small business needs a market target analysis because each enterprise has a target percentage of clients. Customer identification and target market identification is increasingly imperative to ensure a critical product campaign. In other words, promotion cost and the market campaign will be interrupted and expensive without customer and market identification, (Longenecker, Moore, &. Petty, 2003, p. 23). Market identification eases the role of promotional plans creation. Quick financial investment is critical – economists agree that small business operators should keep a well-managed planned budget for marketplace campaign and adhere to that budget. Quick financial investment ensures various market mechanisms such as Television adverts and Banner adverts for the success of the venture.
