HRM and leadership 2.2 Essay Example | Topics and Well Written Essays - 2750 words

HRM and leadership 2.2 - Essay Example Small businesses are an integral part of the economic growth and creation of job opportunities and that it is important that governments tap on it in order to promote growth (United States Office of International Information Programs 2004). The contribution of small businesses to economies is important in terms of the output and the input as well as the creation of jobs as one of the major aims of governments. In the United States, small businesses currently represent 98 per cent of all business enterprises and generate about 64 per cent of all new employment opportunities, and are the first line of employment providing training to many workers (SBA Office of Advocacy n.d.). Almost all nations in the world have the small businesses as the primary creator of jobs for all nations and therefore play an important role in enhancing the economy of a country. In the United Kingdom, there are about 4.4 million small and medium enterprises with almost all of them being made up of small and me dium enterprises, and further about half of the work force in the United Kingdom is employed in the small and medium enterprises generating a turnover of 48.7 per cent. Small businesses often referred to as small and medium enterprises (SMEs) play a critical role in the global economy creating jobs across international borders. In high-income countries, the formal small businesses with less than two hundred and fifty employees contribute about 50 per cent of the GDP globally and creates employment opportunities to about 70 per cent of the working population while in countries that are not members of the OECD the figures are higher. In countries that are classified as developing, the private sector comprises of micro, small and medium enterprises that employs millions of people. Recent research by International Finance Corporation (IFC) that covered 132 economies estimated that around 500 million people comprising about 97 per cent of the businesses in the world can be deemed as smal l business. Importance of Small Businesses to Economies Small businesses and entrepreneurs create job opportunities in any economy with statistics pointing that at least three out of every four persons that are employed work in a small business enterprise. Therefore, governments have found it important to develop these business enterprises in that they ensure that the growth of an economy is broad based, gender inclusive and sustainable in nature. In the United States, The Bureau of Labour Statistics shows that firms that have fewer than 500 employees employ about 55 percentage of employees in the private sector alone. The small businesses also fuel the growth of businesses with data from the Bureau of Labor Statistics indicating that from the year 1992 to 2007, small businesses with fewer than 500 employees created 64 per cent of the new employment opportunities. The small businesses also play an important role in driving the economies of nations, for example in the United States, the small businesses constitute more than half of the nonfarm private Gross Domestic Product and about 97.3 per cent of all U.S. exporters (McCracken and Danner 2011). According to

Risk - de Havillands Essay Example | Topics and Well Written Essays - 500 words

Risk - de Havillands - Essay Example Its jets had many advantage vis-Ã  -vis high speed, quieter and more comfortable interior, distinctive design etc. But management’s decision to launch its first commercial jet ‘Comet’ was fraught with many mistakes and lacked proper and comprehensive risk management plan. de Havilland management’s hurry to be the first to launch jet aircraft commercially was important because it saw the launch of Comet as setting of the standards for the aircraft industry. It also wrongly assumed that because it was leading aircraft company and known for its high performing designs, it could repeat its success in the commercial market also. The lack of proper research and its apathy for the security of the customers was key managerial issue that was overlooked or not properly researched. The development of new products need to be well research and well tested before bringing it to the people. Though de Havilland had introduced innovative changes in its commercial jet, Comet, the changes were not tested extensively and the jet was launched in hurry. The faulty design of the jet had resulted in three massive crashes which ultimately discredited the company in the eyes of its various stakeholders. The various perspectives of de Havilland case are important ingredients because they help to execute projects successfully. In the Havilland case, priorities were set wrongly. Passenger safety was overlooked in order to become the first one to set standards for aircraft industry. Moreover, the new designs were not tested and risks were not identified from different perspectives and outcome. This was a major blunder especially as it put to risks the lives of the people or its passengers. As a project manager, the case study helps to identify the flaws in the project. In the highly competitive business environment, while gaining leverage in the market greatly facilitates business outcome but sustaining the