Free «Small Business» Essay
ASSIGNMENT: Consulting with small businesses requires an understanding of various aspects of business ownership and entrepreneurship
For a small business to hire a consultant, the individual has to have a better understanding of the various business ownerships and entrepreneurship because these are the vital reasons as to why a business should approach an individual to help it improve on a given perspective.
Business consulting is a situation where various business organizations get useful information from specialists in various fields of interest. This information helps them to improve on their performances. Organizations may set up consultation agencies and departments to help them in strengthening their relationship with other organizations. This facilitates organizations in getting vital industrial information that may enable it to move forward.
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An organization that has no such kind of department may hire the services of qualified management consultants who normally play some of the roles. Management consultants make recommendations pertaining future management practices in case the owner wants to exit and leave the firm. This can be in the hands of employees or family members. Business consultancy refers to the provision of services like information technology consuming, human resource consuming, raw materials minimization among others. I can strongly say that the idea of consultations especially in business leads to generation of new ideas and are very vital for proper functioning of the businesses.
According to Price (2010), employee communications and consultations are very vital especially in small businesses when the owner wants to exit from the operations of the business. The owner should properly communicate, and consult adequately before deciding to hang up his boots. This shall lead to proper psychological preparation of employees to embrace the incoming ownership and management of the firm.
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Consultants must be more knowledgeable about the activities of small businesses, internal environment, strengths of business, opportunities at its disposal, threats, as well as the government policies that are in place. A consultant must be an expert in a given field like let us say information communication technology who normally comes in to advise the business on how to go about its ICT business activities, this helps the firm to expand and progress adequately.
Currently, many businesses are hiring either current or former successful businesspersons who guide the management to greater heights. Such resourceful people normally advise the business on the kind of vital steps, and projects to put in place in order to achieve success. They narrate how they overcame many obstacles on their way to success.
Such resourceful individuals tend to challenge the newly established or struggling businesses to copy and improve on the proved mechanisms. They challenge them in order to pave the way to increased returns on investments’ and perpetual growths.
I am of the opinion that both established businesspersons and professionals in various investment fields are more significant because they avail varied and detailed expertise and experience to the business activities, successful businesspersons shall play the motivational part while experts will instill professionalism in the way a business is supposed to run.
I can conclude by saying both that the consulting firm and the consultant’s have both the moral and professional obligations to play for the benefit of each other, the consultants must express deep understanding of the subject matter in which their services are hired. The businesses should find a way of evaluating and accommodating the valuable ideas availed by the consultants so as to pave the way for improvements in performance and growth.
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It is very vital for any business owner intending to exit and leave the firm to task experts in coming up with a better decision. Doing that will see his ideas well applied and adhered to by the incoming management.