It is not enough for small and medium-sized enterprises to do their jobs well in order to continue their activities and grow even more.
Production, service and even social responsibility, no matter what field, should be knowledgeable about many issues that may pose opportunities or threats as well as basic activities. Not only do they have access to information, but they also make a prediction about the effects that this information will have in the short and medium term, and thus taking positions accordingly become the sine qua non of survival.
Strategies of key players in the world economy such as Germany, America, China, Russia, economic indicators of developing countries, OPEC's oil-related statements create changes that affect the basic costs of businesses almost every day. While fluctuations in exchange rates deeply affect all enterprises that are dependent on imports and exports, the fluctuations in energy prices are reflected in the financials of every enterprise without exception.
In an environment where global changes affect the life of an enterprise in such a short time, only the energy and knowledge of the boss is not enough to manage an enterprise when our own internal dynamics are added. I mean economic policies, tax, minimum wage, accounting, incentives etc. To follow the developments in these issues, to identify the issues that will affect the business positively / negatively is not a job to be done by the company owner / owners at the top of the company.
Nowadays, the necessity of institutionalization of SMEs has become an indisputable fact. The most important issue here is to take a healthy transformation by considering the conjuncture we try to summarize above. In order to achieve this goal, SMEs are increasingly resorting to logical issues and buying services from specialized firms.
In order to be able to carry their growing businesses to the future in a healthy manner, the Company's owners are able to obtain such services in marketing / sales, accounting and finance areas, and thus improve their internal structure through the transfer of information.
The companies that receive consultancy on marketing / sales issues can be differentiated according to their competitors in terms of positioning their products / services, customer experience, reaching new customers with new sales channels in the market, advertising, public relations.
Another important issue is the demonstration of professional approaches in financial management of enterprises. Many businesses may have to face unnecessary costs because they do not have sufficient competence in matters such as cash flow, collections, financing alternatives.
For example, it is frequently encountered that import / export companies continue to work with high-cost short-term loans when they do not use relevant instruments to minimize exchange rate risk, while making investments to grow. Especially in financial markets where different alternatives are offered for investment financing, using these opportunities is critical in enterprises with growth potential.
It is becoming increasingly important for businesses to review current business practices in key issues such as marketing / sales, financing and production in an increasingly competitive environment, and find opportunities for improvement and implement them within a specific plan.
The ever-changing market conditions now make it almost impossible to manage the company by traditional methods, but it seems difficult to capture this change without having to transfer information from outside.
Best regards,
Mehmet Kırca