Small and Medium Enterprises Essay Example | Topics and Well Written Essays - 1250 words

Small and Medium Enterprises - Essay Example OECD (2009) in one its recent reports states that SMEs happen to be key generators of employment and income while driving the innovation and growth potential. In the OCED area half of the labour force has been employed by the SMEs only. Figures of UK employment indicate that out of 4.7 million business establishments in UK 99.3 percent were small firms with about 50 employees, while only 0.6 percent firms were there with 50-249 employees. With globalisation, the management of SMEs have now started giving more thought towards the viability of the venture in the long-term before making strategic decisions for acquiring different types of resources. The global financial crisis has also impacted the functioning of this sector quite adversely, because they do not have the desired backup of resources, which is available to the larger enterprises. While on the one hand many multinational enterprises have started leveraging the economies of operation in different regions or countries the SME s are bound to look for ways to contain the damage within the limited areas of their operation. While it is believed that even under normal circumstances, SMEs require specific policies and programmes for their survival and growth, under the global financial crisis, it appears all the more crucial that they are in a position to find out a friendly government. While on the one hand the government wishes to have more investment from abroad, thus facilitating the MNCs entry into the country, on the other the safeguard of SMEs interests happens to be a major political issue in the country. Definition Though SMEs exist in good numbers everywhere around the globe, but there is no uniformity on the definition of SME because of practical considerations. Each country has different classifications of SMEs. Some countries define SMEs based on the number of employees, while others depend on the value of the assets. In general, the lower employment limit for a small enterprise is between five to ten workers and the upper limit is between 50 to 100 workers. Similarly the upper limit for a medium enterprise is usually set between 100 and 250 employees. However, it is difficult to adopt one definition of SMEs in all the countries, because the state of the SMEs also depends on the size of the markets or the economy in which they are operating. For example, a firm with 50 employees in the USA would be considered smaller (relative to the size of the U.S. economy) than a firm of this size in Bolivia. In UK, sections 382 and 465 of the Companies Act 2006 define SME based on the turnover and numbe r of employees1. A company with a turnover of not more than 3.26 million and not more than 50 employees is considered a small company and a company with turnover of not more than 25.9 million, with not more than 250 employees is termed as medium sized company. Importance of SMEs Small and medium enterprises (SMEs) play an important role in a nation's economy. They are resources for innovation and they provide a wide base of employment. In addition, SMEs are the most essential sector for a healthy dynamic market economy. Chew

Automotive component Assignment Example | Topics and Well Written Essays - 1500 words

Automotive component - Assignment Example It is part of the wheels of the machine which offer a lot of advantages in the automobile ensemble, as well as within the auto industry in general. The wheels make the automobiles run, and the tires are the coverings of the wheels to make the ride pleasant. They protect the total ensemble from crumbling into pieces when they are used. What are tires ? Tires are parts of automobile that provides the coverings for wheels that is used for the general locomotion of the whole machine. They are black donut like forms generally made up of rubber and other complex materials. Tires make the automobiles steer, brake and corner easily along the road. The presence of tires makes the ride comfortable and safe. Tires must be durable and they make the automobiles last for long time. What are Tires Made of? Tires are products of engineering technology mostly made up of rubber. Rubber compounds come from polymers such as Natural Rubber, Isoprene Rubber, Styrene Butadiene and others. They are mixed wi th softeners, reinforcement materials and other various chemicals. Mostly, natural rubber coming from rubber trees are the preferred materials used to manufacture tires. Rubbers are the most suitable materials for tires because they have high tear strength, wear resistance, impact resilience, and low heat generation. In order for the rubbers to achieve such characteristics, they are subjected to heat and pretreated with various chemicals. The rubber materials are enhanced with substances such as waxes and antioxidants. These substances protect the rubber from aging and wearing caused by heat, ozone and deflection. Tires are structured with steel cords to provide reinforcement and strong body. These steel cords have high level of carbon content to assure that the tires would have superior tensile strength with high modulus of elasticity in the entire length. The total performance of tires depends upon the construction of these cords to assure that tires are durable and would last a l ong period of time (Tire Materials, n.d). What are the design parameters of tires? Tires look simple from the outside, but they are actually mixtures of various materials processed and designed through sophisticated equipment and facilities. They are intricately formed and manufactured so as to make them durable, flexible, and make them last long. There are many parameters in the design of tires to consider them as those having high quality. Tires are designed with tread, beads and sidewalls. Treads are the patterned and molded surfaces that come in contact with the road surface. The body and sidewalls gives the shape of the tire and the rubber covered beads embedded with metals and wires holds the wheel tires. The tread depth is the parameter that shows the wear and tear of the tire. It can be measured through the difference of the top of the rubber tread with the bottom of the deepest grooves of the tire. The tread wear percentage is calculated for the remaining usability of the e ntire tire. Tires have maximum load. The load of the tire is related to the overall size and diameter of the tire. Tires with higher loads are considered to have stronger internal construction. Tires are also marked with their allowable inflation pressure for the general safe operation for tires with specific load ratings. Every tire has an allowable recommended inflation pressure