Principles of Productivity and Operations Management for Small and Mid-size Business
ABSTRACT
For this article, I selected a sector that has not been covered by authors and could hardly be found in books for Operations Management. I find this topics importance and significance to the global economy, and the Western, in particular, very high. Authors and advocates (e.g., Schroeder, 2004) dealt with the large enterprises, from both the manufacturing and service sectors; the smaller firms, known as Small Business, Minority Owned Business, SME (Small and Medium-size Enterprise), or SMB (Small and Medium-size Business), have been virtually ignored by them.
DEFINITION AND CHARACTERISTICS
A Small and Medium-size Enterprise is defined differently, according to the purpose of each definition; the UK Department of Trade & Industry (2001) suggests that it is mainly because of the wide diversity of businesses. The UK Department provides a basic definition of SME, one that was used by the Bolton Committee in its 1971 Report on Small Firms: a small firm is an independent business, managed by its owner or part-owners and having a small market share. The UK...
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