Trendsetters shops Assignment Example | Topics and Well Written Essays - 3000 words

Trendsetters shops - Assignment ExampleThe dainty and medium enterprises atomic number 18 the enterprises which play a very important role in the global economy and constitute 90% of the global economy. Because of the saturity in the developed countries the Small and medium sized enterprises are making more advancements in the developing nations which are mainly the BRIC countries (Brazil, Russia, India and China). The WTO has recognized the importance of these small graduated table industries and thus has promoted these industries. The small and medium enterprises are the enterprises which beget with their give innovations and inventions and survive competition in nine to succeed globally. This notify is a personal report and in this topic I will focus mainly on the development of our own small medium enterprise called the Trendsetters in which I and my brother are partners and it is a family occupancy. I have been into this descent line as soon as I completed my higher s econdary exams. I began my role in the fuddled as accountant. This topic and firm has been chosen by me for my research purpose as I have personalized experience in the firm and I foresee my future in this firm. arising of as an accountant in the business I have started managing all the aspects of the business in rank to carry our family legacy further. I and my brother have started discussions concerning all details about the shop wish well the supply chain procedures that we need to adopt, the pricing and the marketing strategies that needs to be implemented, the seasonal highs and lows etc. SMEs invoke competition and entrepreneurship and hence have external benefits on economy wide efficiency, innovation, and aggregate productivity maturation. SMEs are generally more productive than large firms. SME expansion boosts employment more than large firm growth because SME are more labor intensive (Small and Medium Enterprises, 2011, P.1). This research will shed light on Trendse tters as case dissect and example of successful small business in India. This research relies on the case study methodology, whereby personal description is provided which calls for analytical as well as descriptive study and provides accurate information on the actual developments in the research topic. 2. History of Trendsetters Shop My Grandmother was the judgement from where such an idea of family business emerged. She was a great textile designer and she could make her own designs which of cross she did not market only when created for her own family uses. Due to her talent people came to her for design tips on their clothes. My bugger off grew up hearing this that many people wanted my nanna to start her own small business but my grandmother was afraid because of the knits and guts that is required in the business field. My father had then acquired his business administration degree and instead of venturing out and sourcing him to other firms he decided with grandmother to start his own business so that his academic excellence and my grandmothers ideas of design could merge together and they started a small garment factory. There was difficulty in procurement of initial not bad(p) and the initial capital was a loan with 10% interest from the Regional Rural Bank in our locality. With 5 of my grandmothers friends our businesss first contract began. It was a very small contract but it ensured confidence in my father to further the business. My father became the managing director of the firm. The present number of employees in the firm is 75 which consist of designers, purchase officials, logistics officials and marketing officials. Comments Even though the enterprise is a small scale it shows the merger of business idea with high academic excellence. It is notable how the family merged skills with education in order to start their own business. Another area in which small entrepreneur has faced the difficulty is that of solicitude. The principles of management have not been properly studied and translated into practice owing to the influence of old traditions and customs. It has seldom daunted to