Entrepreneur's Handbook

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Entrepreneur's Handbook

INTRODUCTION

 

More than 95% of the enterprises in Turkey are classified as Small and Medium Sized Enterprises (SMEs) with a maximum number of 249 employees. SMEs, which constitute the overwhelming majority of enterprises in our country, contribute approximately 3/4 of the employment, while paying more than half of the salaries and wages, providing a significant social and economic benefit. On the other hand, slightly more than half of the total value added can be created by SMEs, the remaining value added is created by large enterprises with 250 or more employees. (TURKSTAT, 2016).

Undoubtedly, large businesses have significant advantages over SMEs. Large businesses have the opportunity to work both more efficiently and more effectively with the excess of resources or assets they have. As a result, large businesses with significant market shares can continuously feed their resource pools. In addition, an important advantage of large businesses is their management and marketing skills. These skills are related to the qualifications of the managers and employees they can employ, as well as their strategic cooperation with other organizations. In addition to the large businesses, founders and their families, they also seek to diversify and enrich their skills by hiring outside managers.

However, producing low added value is not a fate for SMEs. Studies detect positive differences in the performance of enterprises that have a higher professionalization level and adopt a strategic management approach. This unit will focus on professionalization and strategic management.