Managerial Impact on Small Businesses Context Term Paper

Pages: 55 (16627 words)  ·  Bibliography Sources: 1+  ·  Level: College Senior  ·  Topic: Business

Managerial Impact on Small Businesses

Context of the Problem

Today, all businesses are made up of two kinds of constituents: the physical and the non-physical (virtual). The physical constituents are objects such as machinery, building, along with people; the non-physical (virtual) constituents are objects such as information in relation to clients, intelligence in relation to how to get the optimum from a mechanized process and the privileges to make use of a specific development.

The information development offers, both large and small, corporations with an unmatched prospect to move constituents of their businesses from the physical sphere to the virtual sphere. The development of new products and services does not have to be carried out on paper, selling to customers does not have to take place within shops, and huge stocks of each and every product that one sells do not have to be stored. Nearly each and every constituent of a business can be transformed from the physical sphere into informational sphere that is kept and influenced inside a computer.

Novel regulations of economics take over, once that conversion, from the physical to the virtual, is made. Information can be influenced in so many methods that would not be possible with a physical item, information can be broadcasted all over the world at extraordinary pace, and information can be reproduced and put-up-for-sale many times over devoid of gaining extra expenses. These characteristics of information imply that companies that accept the virtual world can work with a dissimilar set of regulations, regulations that have been, more often than not, packed heavily in their support.

The manner in which most business managers operate their companies has made a lot of researchers and analysts recognize that all businesses have been experiencing, or are about to experience, an elementary transformation, a transformation so huge that it belittles any other transformation ever since the Industrial Revolution took place almost 200 years ago. Businesses, both large and small scale, have progressively moved their physical assets and business procedures from the physical sphere to the virtual sphere, novel regulations of economics are being occupied, and dissimilar regulations and business replicas are applied.

In spite of that the sheer size of the possible transformation, the management methods of most of the small businesses have been tightly founded on the physical. Most of the small business managers can, for case in point, assess, adjust and devalue physical assets, nevertheless, there is no decided process for accounting for the information they sustain about our clients, or in fact any additional information; assets that in numerous small businesses far surpass the value of the physical goods they put up for sale.

The purpose of this paper is to assess the underlying reasons that have either prohibited or made it difficult for small business managers to open their eyes to the information transformation that has been taking place, a transformation that has influenced almost all organizations, be it large or small, domestic or global, manufacturing or service.

Statement of the Problem

Information technology has transformed businesses all over the world. Nonetheless, many small business managers have yet to make use of this development. While, many analysts have cited cost as being the primary reason behind the failure of these small businesses to adapt and use Information technology in their small businesses, others have cited visionless policies and lack of information as being the primary reason behind the failure of these small businesses to adapt and use information technology in their small businesses.

Hypothesis

The study will attempt to disprove the myths of technology being out of the reach of small businesses due to cost. Many small businesses have found there way onto the Internet but others have failed to make the move to use technology. One of the primary reasons is cost and the other is the lack of knowledge from managers on how to proceed with the process.

With the rise of the Internet, the opportunities are endless, a company uses the Internet to display information about its goods and services, and other companies take it one step further and sell its goods and services directly off the Internet. This leads to other questions that cannot go unanswered in writing this research proposal. Can a manager be expected to prosper a business if the technology tools are not available?

Significance of the study

Firstly, the degree to which small business managers can in point of fact deliver benefits to not only their customers but also to their shareholders is still uncertain. The Internet business model and the small business managers that use it, along with the technology on which it is dependent upon are still comparatively young, so learning results have yet to be finished. In addition to that, most of the present studies carried out on the impact of small business managers and decision-making have been subjective, and the small number of methodical studies of Internet businesses does not discuss the subject being presently studied.

Secondly, the significance of the study of small businesses can be gauged from the fact that the collective forces of technology, demography, control, as well as, globalization have been pushing corporations, all over the world, to change extensively. The small business sector, especially, has been rigorously influenced. Therefore, it is imperative to comprehend the prospects of small businesses. Furthermore, we have also got to comprehend how these collective forces for change impact small businesses as well as the markets in which they take part (David Humphrey 2000).

Fourthly, business sector has been experiencing spectacular changes over the preceding twenty years. Global competition as well as Internet, has augmented demand for information technology, the commencement of e-commerce, and a consistent drive towards cost efficiencies through consolidations. The most interesting aspect, on the other hand, has been the driver behind these dynamics of transformation: the buyer. Despite the fact that this might give the impression to be a one-dimensional and somewhat evident fact, consumer-driven businesses has been a comparatively novel phenomenon in the increasingly globalized world. Keeping hold of the customer who, due to Internet and related technology, at present, has several choices other than those offered by the traditional businesses has paved way for the creation of novel customer service models and a novel method of doing business, the study of which is imperative.

Lastly, the benefit of the potential applications of the research's findings is that the use of information technology may acquire enhanced attention from the relevant quarters. In addition to that, small business managers will be able to identify the requirements to introduce and enhance internet services on a comprehensive scale. In addition, the result will give small business managers sufficient knowledge to not only strategize their Internet business plans in terms of the most effective way to move forward and the specific kinds of products and services that yield profitable results, but also effectively influence consumers to purchase their products/services.

We will now look at the research objectives

Research design and methodology

This thesis is a qualitative case study which focuses on the managerial impact on small businesses and the underlying reasons being reluctance shown by small business managers to make use of information technology and Internet. This case study is intended to reveal the individualistic attributes of small business managers.

Collection of Data

The tactic involved in this process collection of relevant data has been that concise and yet comprehensive information related to the topic (the managerial impact on small businesses and the underlying reasons being reluctance shown by small business managers to make use of information technology and Internet) has been compiled from articles published in various scientific journals and magazines by individual researchers, as well as, research institutions. Both, online resources and offline resources have been used to compile the data.

Data analysis and Search tactics

The data analysis and search tactic depended on manifold means so as to guarantee the most advantageous totality of facts and statistics available. At the outset a comprehensive literature exploration had been performed by means of internet, as well as, university and public library, as mentioned above. In this manner the bulk of published information relating to the topic (the managerial impact on small businesses and the underlying reasons being reluctance shown by small business managers to make use of information technology and Internet) had been distinguished, initially, and compiled, subsequently.

The analytical strategy employed in this paper has firstly identified the gravity of the situation at hand relating to the foundations of small businesses by taking into account what it is that managers of small businesses do that makes them unsuccessful in this information age. Appropriate theories and facts have been given to prove not only the seriousness of the situation but also the validity of the arguments. A brief yet concise overview is given of the present situation in the small-scale business sector by evaluating the strengths, weaknesses of their operations and functions and the emerging opportunities and threats due to enhanced competition and limited vision.

Limitations of the Study… [END OF PREVIEW]

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