Small and Medium Enterprises

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Small and Medium Enterprises (SMEs) are the backbone of global economic activity. In emerging economies, SMEs account for over 90% of firms, 60-70% of employment and 55% of GDP. In fact, in India, SMEs contribute more than 8% of the country’s GDP and account for 45% of the manufactured output and 40% of exports. However, the growth of SMEs, especially in India and other emerging countries has slowed down over the last few years. As I see it, a good number of these companies — as enterprising as they may be — are unable to transcend the barrier of scale. Improving the scalability, performance, and sustainability of SMEs can help achieve the economic growth that is sustainable and truly global. Advisories that can solve the key issues faced by these firms — lack of short and long term growth strategy, lack of efficient marketing and sales practices, and lack of exposure to industry best practices and new technologies — are the McKinseys and the BCGs that only multi-million dollar companies can afford. My dream is to start a low-cost strategy-consulting firm that will provide advisory solutions to SMEs in emerging economies. I hope that through my initiative I will be able to create growth stories for quite a few SMEs and eventually contribute in a small way by strengthening global economy and changing the life of a few thousand people for better. My work experience at Keane, a US-based $1 billion IT services firm, exposed me to operational side of IT such as business requirement gathering, application designing, and application development. Later at McKinsey & Co., with its Global IT Services division, I worked on a few critical and high-impact projects that exposed me to strategic side of IT such as the importance of efficient an... ... middle of paper ... ...ng with business and products teams to ensure a timely and an effective implementation of our recommendations. This is helping me to learn nuances and challenges faced by organizations such as resistance to change, budget constraints, people issues, differences in priorities of different stakeholders etc. in implementing consulting solutions, an experience that will help me not only in business school but also during my consulting career to provide solutions that can also be easily implemented. I believe that with my diverse work experience and learning from IT and analytics industries and the skills I hope to pick up at business school I will be able to get into a global strategy-consulting firm as a Consultant. My experience thereafter along with my previous work and life experiences will help me make a small contribution to society through my own consulting firm.
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