Strategic Marketing Decisions for Small and Medium-Sized Enterprises (Sme)
Strategic marketing decisions for small and medium-sized enterprises (SME) entering the foreign market.
Introduction 600
The purpose of this study is to investigate whether small and medium-sized enterprises (SMEs) should develop marketing strategies which enables them to make an entry to a foreign market. The investigation will also look at the long term prospects of strategic decision by small and medium firms within the UK.
Available secondary data will be the main source for this investigating. Sources include publications about the significance of research such as, relevant journal articles from both academic source and non-academic source. The objective is to analyse and interprets the findings in various secondary sources and a literature review will also be included with this report. Although the research can be argued as insufficient in relation to statistics from field research but the purpose is to answer the research objectives. This also improves the understanding of how SME managers make decisions and how those decisions can affect their business performance. In order to achieve in depth result, an adequate primary research is needed but it also considered impractical as the resources are limited and also time consuming.
The SME stands for small and medium size enterprises and in the UK alone the business sector counts as 99.9% of total 4.8 million. (Small and Medium Sized Enterprise Statistics for the UK and Regions 2008, published 14th October 2009). In the UK Companies Act 2006 it defines a small company which has a turnover of more than £6.5 million and with no more than 50 employees. The medium size business can have turnover not more than £25.9 million and with not more than 250 employees. There are other institutional and regional definitions for SME exits but it depends on the purposes (e.g. definitions by industry or service industry or a statistical firm).
Strategic marketing decisions are those that that the SMEs make in
Introduction 600
The purpose of this study is to investigate whether small and medium-sized enterprises (SMEs) should develop marketing strategies which enables them to make an entry to a foreign market. The investigation will also look at the long term prospects of strategic decision by small and medium firms within the UK.
Available secondary data will be the main source for this investigating. Sources include publications about the significance of research such as, relevant journal articles from both academic source and non-academic source. The objective is to analyse and interprets the findings in various secondary sources and a literature review will also be included with this report. Although the research can be argued as insufficient in relation to statistics from field research but the purpose is to answer the research objectives. This also improves the understanding of how SME managers make decisions and how those decisions can affect their business performance. In order to achieve in depth result, an adequate primary research is needed but it also considered impractical as the resources are limited and also time consuming.
The SME stands for small and medium size enterprises and in the UK alone the business sector counts as 99.9% of total 4.8 million. (Small and Medium Sized Enterprise Statistics for the UK and Regions 2008, published 14th October 2009). In the UK Companies Act 2006 it defines a small company which has a turnover of more than £6.5 million and with no more than 50 employees. The medium size business can have turnover not more than £25.9 million and with not more than 250 employees. There are other institutional and regional definitions for SME exits but it depends on the purposes (e.g. definitions by industry or service industry or a statistical firm).
Strategic marketing decisions are those that that the SMEs make in
References: Lester Lloyd-Reason, Terry Mughan, (2002) "Strategies for internationalisation within SMEs: the key role of the owner-manager", Journal of Small Business and Enterprise Development, Vol. 9 Iss: 2, pp.120 - 129