Employees may not feel committed to doing their best for the company Advantages Disadvantages There may be a more holistic Small businesses often do have a Continuous skills approach to training due to a dedicated Human Resources function development limited number of employees that focuses on skills development and Promotes individual and personal training development resulting in improved Continuous skills development is not productivity always easy in a small business because there is no time for training since everyone is involved in many different aspects It is expensive to use training consultants Employees may leave for better jobs as they gain more skills. Advantages Disadvantages Adequate Economies of scale can translate It is not always possible to test financing and into lower unit costs (or improved everything before implementing due to capacity productive efficiency) lack of finances. Small businesses can succeed simply They do not have product research by identifying a niche market and by departments and market researchers serving it really well. to gather the information before time Smaller firms can be more flexible They do not have correct equipment or and may be able to adapt quickly to best quality raw materials, which can changes in their markets or in the lead to faulty products. economy Advantages Disadvantages Planning, The is can quickly identify Not enough people to put monitoring monitoring and problems and areas of weaknesses. and evaluation systems and processes evaluation Can easily identify performance in place to prevent product defects and gaps and determine why they exist. other issues Small businesses can easily It takes time to put the correct systems analysing customer reaction to all in place to ensure that they prevent aspects of the marketing mix. defects, poor productivity and customer dissatisfaction.
Employees may not feel committed to doing their best for the company Advantages Disadvantages Continuous skills development There may be a more holistic approach to training due to a limited number of employees Promotes individual and personal development resulting in improved productivity Small businesses often do have a dedicated Human Resources function that focuses on skills development and training Continuous skills development is not always easy in a small business because there is no time for training since everyone is involved in many different aspects It is expensive to use training consultants Employees may leave for better jobs as they gain more skills. Advantages Disadvantages Adequate financing and capacity Economies of scale can translate into lower unit costs (or improved productive efficiency) Small businesses can succeed simply by identifying a niche market and by serving it really well. Smaller firms can be more flexible and may be able to adapt quickly to changes in their markets or in the economy It is not always possible to test everything before implementing due to lack of finances. They do not have product research departments and market researchers to gather the information before time They do not have correct equipment or best quality raw materials, which can lead to faulty products. Advantages Disadvantages Planning, monitoring and evaluation The is can quickly identify problems and areas of weaknesses. Can easily identify performance gaps and determine why they exist. Small businesses can easily analysing customer reaction to all aspects of the marketing mix. Not enough people to put monitoring and evaluation systems and processes in place to prevent product defects and other issues It takes time to put the correct systems in place to ensure that they prevent defects, poor productivity and customer dissatisfaction.