SME MANAGEMENT (MGT601)
ASSIGNMENT NO. 02
(NON GRADED)
DUE DATE: 24TH JANUARY, 2014
MARKS: 20
ASSIGNMENT:
The small and medium enterprises (SMEs) are considered as backbone of
economy in all regions of the world. They simply accelerate economic activity,
job creation and capital formation for the common good rather than increasing
surplus for the few. The small and medium enterprises (SMEs) are also the
major sector in consuming the non-agricultural work force of any country.
There are approximately 2 million Micro, Small and Medium Enterprises in
Pakistan. These include 400,000 manufacturing units, 600,000 Service
sector units and 1 million Trade sector units. SMEs (Manufacturing units)
contribute approximately 34 billion Rupees a year to GDP. They constitute
nearly one third (29%) of the total value of manufacturing in the country.
Most of the advanced countries Like Japan and Korea are managing more
than 70% of their GDP and Pakistan is lacking in this sector as huge
progress can be made in this sector
What does it really take to make a business successful? This is not an easy
question to answer, as each entrepreneur has a different definition of
success. The answer of success is too simple: “The key to a successful
business is customer service and retention. That is so much more important
than marketing. An entrepreneur is one man show, who has to make all
decision regarding the enterprise (Finance, Procurement, Marketing, HR,
Supply chain etc).
Considering the fact that you are the head of an enterprise (Younis Marble
industry), who are going to launch themselves in the precious stone/Marble
sector at a medium scale level, Which acclaim high fame for its enduring
colors, finest reshaping abilities and durability etc. The newly established
enterprise facing the problem of recruiting the right candidates for its right
jobs as it is a new venture.
Being a SME student and having the knowledge of selection and
recruitment process, what would you suggest to enterprise (Younis
Marble industry) for the selection of right candidate in the minimum
possible time and in a cost effective way?
ASSIGNMENT NO. 02
(NON GRADED)
DUE DATE: 24TH JANUARY, 2014
MARKS: 20
ASSIGNMENT:
The small and medium enterprises (SMEs) are considered as backbone of
economy in all regions of the world. They simply accelerate economic activity,
job creation and capital formation for the common good rather than increasing
surplus for the few. The small and medium enterprises (SMEs) are also the
major sector in consuming the non-agricultural work force of any country.
There are approximately 2 million Micro, Small and Medium Enterprises in
Pakistan. These include 400,000 manufacturing units, 600,000 Service
sector units and 1 million Trade sector units. SMEs (Manufacturing units)
contribute approximately 34 billion Rupees a year to GDP. They constitute
nearly one third (29%) of the total value of manufacturing in the country.
Most of the advanced countries Like Japan and Korea are managing more
than 70% of their GDP and Pakistan is lacking in this sector as huge
progress can be made in this sector
What does it really take to make a business successful? This is not an easy
question to answer, as each entrepreneur has a different definition of
success. The answer of success is too simple: “The key to a successful
business is customer service and retention. That is so much more important
than marketing. An entrepreneur is one man show, who has to make all
decision regarding the enterprise (Finance, Procurement, Marketing, HR,
Supply chain etc).
Considering the fact that you are the head of an enterprise (Younis Marble
industry), who are going to launch themselves in the precious stone/Marble
sector at a medium scale level, Which acclaim high fame for its enduring
colors, finest reshaping abilities and durability etc. The newly established
enterprise facing the problem of recruiting the right candidates for its right
jobs as it is a new venture.
Being a SME student and having the knowledge of selection and
recruitment process, what would you suggest to enterprise (Younis
Marble industry) for the selection of right candidate in the minimum
possible time and in a cost effective way?
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