The SMEs are competitive in Russia, but many under developments are causing a lag in the developments of the companies. There are many inconsistencies in the leadership, but other factors also discourage the improvement of the small companies. These issues include lack of resources in Russia, and also lack of capabilities. The development in infrastructure has proven to be slow and also lack of equipment. Many companies are waiving from the Russian market mainly because of the complexities and also the issue of transition economies.
SMEs are not taking advantage of strategies that will elevate them to economy driven positions. The SMEs are not taking the right measures to establish business relation. The SMEs have to commit themselves in the market, it terms of investing, acquire the best personnel and realize their potential through time management. Modes of success have to be analyzed and adopted through joint ventures, engaging in sales and distribution, getting the best contracts in the market and being in control (Albertini, 2011).
Research questions
When coming up with the research questions, the emphasis of the questions was on leadership for SMEs. The most relevant question would be "Is leadership the main factor slowing down development in SMEs?" The question focuses on the factors of leadership, and the best manner to manage small enterprises so as to expand them and stabilize the economy. The query's relevance is vital as it would assist to explain the outcome of effective leadership in SMEs. The question, therefore, analyzes and interprets market realities and also the aspects of free-market ideologies.
Definition of key words
The key word popularly evident in this article is Small and Medium Enterprises (SMEs). They are companies whose number of workers and employees and turnover hardly pass a certain criteria. Companies with less than nine employees would be considered to be micro-firms due to the limited number of employees. For a firm to be called a small firm it has to have up...
Small Medium Enterprise Set Up Mission statement Business goals Marketing Market research (location and size of market) Market segmentation (which segments will you target) Marketing plan Products/services and target market(s) Placement Promotions and advertising Pricing policy Evaluation of marketing Operations Legal and licensing requirements Organisational structure and staffing Insurance and security issues Business premises Equipment required Production process Critical risks/contingency plans Financial projections Capital expenditure forecast Sales forecast Cash flow forecast Projected profit and loss statement Owner's personal expenses (continued on next page) Environmental responsibility and Eco-sustainability Implementation timetable Conclusions and future directions Executive Summary Business Plan Structure The business plan
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