Small Business Case Study

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Recommended: The benefits of globalization

In the 21st century the economy is becoming more globalized and this is highly beneficial for large multi multinational corporation. Globalization is defined as “The worldwide movement toward economic, financial, trade, and communications integration” according to BusinessDictionary.com(n.d). Big business can gain a lot when they utilize the benefits brought by globalization. Also, they can benefit from the workplace diversity which often leads to an increase in productivity and creativity. While, all of this can be a benefit for huge business, but might be a risk for the small business. Small business owners do not have such huge amounts of capital to invest in their business. So it is difficult for them to compete with huge business owners. …show more content…

According to Blasingame (2003) there are 3 groups of people who influence a small business; internal team, the founder and the key players who make the company works. It also mentioned that a well capitalized but a poor functioning team may be valuable on paper when it comes to market, they invaluable overall. The internal team needs to have a very strong teamwork to help the small business to be a success. External teams are people who are paid professionally. The external teams are one of the key factors to help a small business with their knowledge and professional skills. In order to be successful, small business owners must have very good connections. Lastly, the owner or founder of the business must have leadership theories to help them succeed. Without a good leader and team, it is very hard for a small business to succeed. As we know, everyone has their limitations and one person cannot finish the entire job. According to Robbins, Judge, Millett, & Jones, (2010, p.218) leadership is the ability to influence a group towards the achievement of a vision or a set of goals. In other words, leadership is a key for success and a good leader will keep their workers or employees motivated. A highly motivated team increases productivity. According to Robbins, et al, (2010, p.119) motivation is the process that account for an individual’s intensity, direction and persistence of effort towards attaining a

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