Hi, I need help with essay on Business organisation. Paper must be at least 2500 words. Please, no plagiarized work!
As such a firm’s response to market changes is structured by its form of capitalism, which has its own features like particular management structure, systems, culture, and legal governing bodies. Thus, success and failure of an enterprise depends on its investment strategy in different system structures and personnel. Accordingly, the British SMEs follow the personal form of capitalism. It is significant to verify how this personal form of capitalism has helped the British SMEs to flourish. Let’s consider some stats on British SMEs in this regard (Chandler .
According to BT Business special report by Bourne (July 2007), importance of small businesses in British economy can be judged from the number of enterprises in the UK, which is 4.3 million, 99.3% of which have less than 50 employees on their roll. Small businesses generate about 10.3 million jobs in the UK, which is 46.8% of all jobs. Turnover of 36.4% UK businesses is above £800 billion annually. Technology is a big reason according to BT Business report in the expansion in SME’s and it is an add-on to the smaller businesses tradition of collectively working by building further on personal relationships.
By getting their business online, SMEs are trying to scale the ladder of progress. Some stats to consider: 60% businesses have online presence, 2% use the online medium for advertisement, 9% are listed on other websites, 8% have a totally dedicated online strategy and 21% have no web presence.
About three-quarters of small businesses (74%) view the internet as an important tool in achieving their business targets in the approaching 5 years and 63% businesses assume that they can better compete with bigger players and varied markets through internet.
Personal capital being the plus factor of British businesses, they work in the direction of personal relationship and winning the faith of their customers,