- Recognizing the employees’ effort is what matters most to most people across the world, according to a recent survey (Chase, 2006). So, constant appraisal of the work done as well as material incentives work better to help the workers.
- Relations with the financial partners need to be kept updated, for with the increasing competition in every market, both customers and flow-of-cash factors should be satisfied constantly.
For a business to survive and thrive, attention should also be paid to the maintenance of a secured backup plan in case of troubled times. Financial backups as well as human power and mechanical power backups are required in order to keep the business working efficiently.
Consumerism: An important factor for SMEs
The growing advertisement marketing has increased exponentially due to online marketing. Every commodity, be it a gadget or a dress needs to be sold with proper packaging (Mc Donald, 2011). SMEs had foreseen this situation and modified its policies accordingly. The penetration of the market in this situation is possible by extensive internet marketing and fashionable products. The dresses which are popular today may not remain so a day after, so it is the need of the time to be innovative. The new strategies have to be recognised with precision so that the sale of the dresses increases day by day. The female wear is something which registers a constant change in taste of the customers. So, the companies imbibed the dynamic deigning of the dresses, lingerie outfits with care. This execution is the most crucial aspect of achieving a quality target because the work is basically done by the lower stratum workers.