Question

Characteristics of small and medium enterprises in india

Answer 1

Many SME companies are quite small and have only a very few employees. This limited staff is required to complete all necessary tasks including innovation, production, marketing, sales and accounting for the entire business; for example, the owner of the business may also be the manager who oversees all the areas of the company. This can be a disadvantage if employees do not have the required skill sets to perform multiple tasks well; however, this type of business structure promotes long-term stability rather than focusing on short-term results.

Answer 2

Answer:

Production or Procurement of Goods and Services: Business exists to satisfy the wants of the consumers. Thus, every business enterprise either manufactures the goods (pen, textbook, furniture, etc.) or acquires them from producers, to be further sold to consumers or users.