The small and medium enterprises (SMEs) are considered as backbone of economy in all regions of the world. They simply accelerate economic activity, job creation and capital formation for the common good rather than increasing surplus for the few. The small and medium enterprises (SMEs) are also the major sector in consuming the non-agricultural work force of any country.
There are approximately 2 million Micro, Small and Medium Enterprises in Pakistan. These include 400,000 manufacturing units, 600,000 Service sector units and 1 million Trade sector units. SMEs (Manufacturing units)
contribute approximately 34 billion Rupees a year to GDP. They constitute nearly one third (29%) of the total value of manufacturing in the country.
Most of the advanced countries Like Japan and Korea are managing more than 70% of their GDP and Pakistan is lacking in this sector as huge progress can be made in this sector What does it really take to make a business successful? This is not an easy question to answer, as each entrepreneur has a different definition of success. The answer of success is too simple: “The key to a successful
business is customer service and retention. That is so much more important than marketing. An entrepreneur is one man show, who has to make all decision regarding the enterprise (Finance, Procurement, Marketing, HR, Supply chain etc).
Considering the fact that you are the head of an enterprise (Younis Marble industry), who are going to launch themselves in the precious stone/Marble sector at a medium scale level, Which acclaim high fame for its enduring colors, finest reshaping abilities and durability etc. The newly established enterprise facing the problem of recruiting the right candidates for its right jobs as it is a new venture.
Being a SME student and having the knowledge of selection and recruitment process, what would you suggest to enterprise (Younis Marble industry) for the selection of right candidate in the minimum possible time and in a cost effective way?
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SME MANAGEMENT (MGT601)
ASSIGNMENT NO. 02
Being a SME student and having the knowledge of selection and
recruitment process, what would you suggest to enterprise (Younis
Marble industry) for the selection of right candidate in the minimum
Some suggestions from my side for the enterprise (Younis
Marble industry) for the selection of right candidate in the minimum possible time and in a cost effective way. These suggestions are given below.
The criteria that enterprise look for will depend on the nature of the job but it is important to define exactly what enterprise really want from ideal candidate before start the short listing process. Before start enterprise has two lists. The absolutely essential criteria and he desirable criteria. Try to avoid the temptation to put all desirable criteria in the essential category. Enterprise should have approximately double the essential criteria in list of desirables. Try to flexible and remember that if (Younis Marble industry) take too many people out initially may miss the best candidate for the role.
To do this work In minimum possible time it is helpful for the enterprise to check the educational qualification, professional qualification, professional experience and evidence of competencies of all candidates and to keep thing fair it is a good idea to come up with a rating system and rank candidates according to each defined criteria. It is good idea to setup a single spreadsheet to make things easier for (Younis Marble industry) to keep track, or can also utilize an applicant tracking system
To selection of right candidate in the minimum possible time and in a cost effective way the process easier enterprise can use the following steps:
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