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An Empirical Study on Strategy Implementation of SME in VUCA:A Case of Health Care and Wellness Start Up


Affiliations
1 Department of MBA, Pimpri Chinchwad College of Engineering, India
2 Department of MBA, Pimpri Chinchwad College of Engineering, Pune, India
 

Small and Medium Enterprises (SME’s) plays a most important part in the socio-economic growth of the country .Though, SME’s sector has consistently registered higher growth rate compared to the overall industrial sector, but then also they have been facing great challenges in the era of liberalization and Globalisation as well in today’s VUCA environment. SMEs are expected to a VUCA calamity in the market place than larger firms that hold the ability to soak up more shock. The Present study explores the problem of a Small enterprise Dr. Ratna’s The Edit Clinic a top obesity, hair & skin clinic in a prime locality in Pune and provide planned solution to it in relation to the changing market environment. Research presents a future-ready viable roadmap to nurture .The Edit Clinic business by 10X in next 2 years. An apparent business focus was established which is exact for the founder’s inspiration, ability, and experience. Clearly recognized competitors and effective competitive strategy was provided. Digital 4.0 technology enabled roadmap for business growth and transformation.

Keywords

SME, VUCA, Strategy, Business Plan, SWOT Analysis.
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  • Research Papers

  • Das, K. (2008), SMEs in India: Issues and Possibilities in Times of globalization, in Lim, H. (ed.), SME in Asia and Globalization, ERIA Research Project Report 2007-5, pp. 69-97.

  • Mwobobia, F.M. (2012), “The Challenges Facing Small-Scale Women Entrepreneurs: A Case of Kenyal”. International Journal of Business Administration, Vol. 3(2), pp. 112-121.

  • Garg, I. and Walia, S. (2012), “Micro, Small & Medium Enterprises (MSMES) in Post Reform India: Status & Performance”, Vol. 1(3), pp. 134-141.

  • Garg, N. (2014), “Micro, Small and Medium Enterprises in India: Current Scenario and Challenges”, Paripex Indian Journal of Research, Vol. 3(9), pp. 11-13.

  • Tripathi, M., Tripathi, S. and Dedhia, R. (2016), “Challenges faced by Micro, Small and Medium Enterprise (MSME) Sector in India”, International Journal of Science Technology and Management, Vol. 5(3), pp. 79-87.

  • Mathai, G. P. (2015), “Challenges and Issues in Micro, Small and Medium Enterprises (MSMEs) in India: A Current Scenario of Economic Growth”, Vol. 4

  • Aruna, N. (2015), “Problems Faced by Micro, Small and Medium Enterprises - Special reference to Small Entrepreneurs in Visakhapatnam”, IOSR Journal of Business and Management, Vol. 14(4), pp. 43-49.

  • Patil, S. G. and Chaudhari, P. T. (2014), “Problems of Small Scale Industries in India”, International Journal of Engineering and Management Research, Vol. 4(2), pp. 19-21.

  • Reports/Websites

  • Consultancy.in (2017): Indian business and management consulting market picks up growth.

  • http://shodhganga.inflibnet.ac.in

  • Online Warwick database: marketline

  • Strategic Management and business policy by Azhar Kazmis

  • https://alopexoninnovation.com/2013/09/27/how-smes-can-better-withstand-market-uncertainty/


Abstract Views: 569

PDF Views: 184




  • An Empirical Study on Strategy Implementation of SME in VUCA:A Case of Health Care and Wellness Start Up

Abstract Views: 569  |  PDF Views: 184

Authors

Srushti Malkar
Department of MBA, Pimpri Chinchwad College of Engineering, India
Anuja Johri
Department of MBA, Pimpri Chinchwad College of Engineering, Pune, India

Abstract


Small and Medium Enterprises (SME’s) plays a most important part in the socio-economic growth of the country .Though, SME’s sector has consistently registered higher growth rate compared to the overall industrial sector, but then also they have been facing great challenges in the era of liberalization and Globalisation as well in today’s VUCA environment. SMEs are expected to a VUCA calamity in the market place than larger firms that hold the ability to soak up more shock. The Present study explores the problem of a Small enterprise Dr. Ratna’s The Edit Clinic a top obesity, hair & skin clinic in a prime locality in Pune and provide planned solution to it in relation to the changing market environment. Research presents a future-ready viable roadmap to nurture .The Edit Clinic business by 10X in next 2 years. An apparent business focus was established which is exact for the founder’s inspiration, ability, and experience. Clearly recognized competitors and effective competitive strategy was provided. Digital 4.0 technology enabled roadmap for business growth and transformation.

Keywords


SME, VUCA, Strategy, Business Plan, SWOT Analysis.

References