updated MT Problems of management of the small scale companies.pptx

Contemporary Management

1. Problems of management of the small scale companies Group (5) Osama Mohamed Abd El-Rahman Emad Al-Alfy Sayed Salim

2. A small business is an independent profit- orientated business unit that is personally managed by the owners ,It provides the ideal environment for entrepreneurs to test their talents. S mall scale companies Characteristics of Small Scale companies

3. Problems of management of the small scale companies M icro-Management , Business owners often shouldering all the administration at the same time ( Time management ) 3- Personal Management “ Owner is wearing too many hats ’’ 1- Challenges in labor quality, employee recruitment Small-scale businesses are facing difficulty in recruiting skilled employees Can’t offer higher salaries and attractive benefits. 2- Demotivated Employees and retention Job insecurity, adverse job environment, even the job nature. Demotivated employees eventually leave their job without prior notice, leaving the business owner little or no time to recruit and train a replacement. Work hard to motivate your employees by every possible means Employees like to feel valued and appreciated,to develop loyalty that drives good retention iring with a clear vision. have to start hiring with a clear vision. Hire for the role you most need right now. To attract top people, you need to be competitive. Delegate authority and empower the team and set aside time for yourself Hire contractors like accountants and other experts for business advice

4. 4- Ignore Expert Opinion Small business owners often don’t ask for help from individuals specialized in different fields, They operate their business enteirely alone 5- Reluctant to Change in Response to Market Conditions (Non-Resilience) As Einestein’s quote ‘’ The measure of intelligence is the ability to change ‘’ 7- Lack of training Unsafe Work Environments , Unsatisfied Employees, Reduced Productivity and Increased Staff Turnover 6- Lack of Process & System Unfortunately, many businesses do not have formal structures to guide them . Problems of management of the small scale companies Let people share their ideas!, get their creative juices flowing. Embrace uncertainty with knowledge and a plan of action Establish Scenario planning , start incorporating it into a strategic approach SWOT analysis to build out strategy Every part of your business should have a documented set of standard operating procedures (SOPs). personal development through learning and training

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