Micro enterprise fight for their survival in general and we talk about sustainable strategies in such enterprises. Can somebody help me in exploring the sustainable solution for micro enterprise?
Micro enterprise- firm's Investment in plant and machinery excluding land and building for enterprises engaged in manufacturing or production, processing or preservation of goods not more than 25 lakhs.
Small business suffers from many threats . Many businesses address sustainability in an ad-hoc manner, doing experimentation of permutation and combination of many strategies A strategic approach will help the small business to achieve the best results for business and will ensure that the approach ties in with your overall business objectives. Some of the strategic components for the sustainability of small business include:
- · Begin by identifying the pressures that are driving your business to become more sustainable.
- · Set a vision
- · Define objectives
- · Establish Current Position
- · Analyze Gaps
- · Develop Strategies
- · Design and Action plan
- · Implementation
- · Monitor and Review Continue to innovate and improve
analysing and adapting these will definitely provide sustainable solution for micro enterprises.
I'm not a specialist in the field of this question but think that the link below might be useful for thinking about the problem:
https://www.ifac.org/global-knowledge-gateway/sustainability/discussion/sustainability-imperative-small-business
A sustainable strategy can be used to fund or promote micro enterprises if a through study of the inputs and outputs of the work is carried out, thus providing profitable results.
Apart from the insightful responses of the colleagues, the attached link, concerning the question, may be helpful.
Regards
http://digitalcommons.newhaven.edu/cgi/viewcontent.cgi?article=1002&context=businessmanagement-facpubs
Innovative sustainable strategies requiring lower inputs would be more feasible for small business.
I think yes. A sustanaible strategy can work for a small business and transform this latter into a big business. That's why this strategy can be called sustainable.
I strongly agree that sustainable strategies can better implemented in small firms in comparison to large firms due their size but still why small firms become reluctant towards these or its just a buzzword in the firms of developing countries i.e. India.
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