Innovation and Small Business Essay Example | Topics and Well Written Essays - 1000 words

Innovation and Small Business - Essay Example Most owners of work together during the process of promoting their small business, for instance, the owner of a coffee shop would work with the owner of a cafe in selling specific signature coffee brand in the restaurant. It is possible for customers at two points to purchase the products of the two companies and this will create opportunities for both businesses for each (Pies et al, 2010). Advice can be got from several small business owners support groups just like She Owns it, where the members of the group gather and discuss together with their peers issues related to their employees, expansion, issues to do with customer service among others. Members in of such groups range from people who are starting businesses to long-term business owners and they provide each other with advice and understanding since they are able to identify issues and concerns that affect each other. Networking in small businesses helps in both forming relationship with other businesses, free advertising also takes place for the company. Small business owners have clear understanding of the importance of having the name of their company out and through promoting the name of a company through peers does this form of advertising well (Pies et al, 2010). ... There is guarantee that when people upgrade their profession they will not come back, therefore managers in professional firms have the task of creating an environment in which the employees are motivated frequently and ensure they are able to balance their commitment to that of the firm as well as the customer. On the contrary, when managing manufacturing firms, the main challenge faced by managers is the management of competing business practices within the firm; looking at the finance function of the firm, they may prefer to communicate using emails while another department such as the human resource department may prefer using memos (Pies et al, 2010). Such type of differences in the manufacturing firm has detrimental effects on its operations especially when they impact on its effective operation, or in the delivery of quality goods and services. When there is weak communication processes, ordering processes and payment of invoices become difficult; therefore, ending these compe tition can take place through institution of company-wide standards. Small manufacturing firms also face these problems and here the manager will have to face several functions, these requires all team members to understand how the firm works and follow the laid down procedures (Pies et al, 2010). Geodis Wilson is a global logistic provider and they provide logistical services; on top of this freight services, the company offers value added services that include customer clearance and insurance in addition to its normal logistic handling services. The company delivers goods from door-to-door and on a timely basis, from one continent to another; this is one thing while use of transit time in realizing tied up capital is another thing. Geodis Wilson is able to accomplish both