Professional Project Knowledge Management in SME

Question: Describe about the Professional Project for Knowledge Management in SME. Answer: Findings from the research After analysing the research data, it has been identified that the small and medium size industry in Australia has enabled to propose an important marketing strategy in order to establish a potential brand value in the target market. The proper marketing strategy is important to enhance the brand performance. The marketing strategies and the strategic planning adopted by the SMES in Australia have been assessed in this section. Falle et al. (2016) stated that every organisation has to maintain a strategic planning for preserving the brand value in the contemporary business environment. The findings from the literature indicate that the SMEs in Australian market are trying to uphold an extremely useful marketing approach so that the firms could influence the community towards the brand. Adding to this, more effective and efficient market practices is also highly essential for leading an improved economic arrangement in the entire business system (Dawson Mierzwiak, 2015). Thus, this w ould also be beneficial for the business development of small and medium business industries in Australia. It has been assessed that an empirical research based study has been conducted in the current research in order to explore the strategic planning of the business firms. The qualitative research on the study identifies that the actions taken by the major SME firms are the business strategy of those organisations to establish a sustainable market position. The literature also highlights some interesting findings through a series of interviews. Considering the opinion of Soto-Acosta et al. (2016), the findings from the interviews includes the strategic planning, business values, marketing needs and the other marketing strengths to set up a competitive advantage in the target market. Hence, findings from the section have been done by evaluating literature, and a conclusion has been driven on the current discussion. Discussions of the findings The meta-analysis conducted in the study is analysing the implementation of the marketing strategy. It has been identified that the entire research analysis has helped the research associate to determine a realistic marketing approach, which would create a good market plan to increase the market share of the organisations. In the opinion of Dawson Mierzwiak (2015), it has been speculated that almost 64% of the companies with an effective marketing strategy has a sustainable growth in the competitive marketplace. The relevant business planning for the small and medium enterprise has the different relevant marketing plan in order to get success. The findings from the study indicate that a marketing planning is also essential to influence the survival of the small and medium business organisation (Falle et al. 2016). The scholars stated that organisational changes are also required to keep a sustainable plan of activities. Furthermore, it has been found that use of the internet can be one of the great approaches to introduce an effective marketing plan. The social sites are the most interactive medium to implement an excellent marketing plan. In the addition, the marketing plan needs to be conducted by aligning with the organisational goals. The strategies of the marketing plan can be covered with the corporate aims and objectives so that a larger business setup can be achieved quickly. Conclusion The entire analysis of data indicates the importance of the marketing planning for all small and medium scaled enterprises in the market of Australia. It has been found that marketing planning is required in order to meet the organisational goals. A strategic marketing planning is essential to improve the regulatory value in the competitive market segment. On the other hand, it has been observed that strategic planning can also be formulated to identify the drawbacks faced by the organisations from the respective market domain. Moreover, it is cleared from the research that every organisation has to build a possible marketing plan to establish a sustainable market position in the competitive market. Recommendations Developing proficiency in the leadership aspect The SMEs in the Australian market are positioned in the most vulnerable stated with an unsterilized revenue margin. In the majority of the cases, the SMEs experience the specific issues due to its ineffective leadership styles and approaches. Moreover, the SMEs always require being experimenting with the indifferent and new ideas. Therefore, the enterprises need a supportive cooperation of the internal resources to receive enough confidence of exploring the depicted ideas. For the particular purpose, the leadership styles and the approaches of the Australian SMEs need to be useful and motivating enough, where the resources can also forecast on the affirmative professional growth. Besides, the leadership style also necessitated being including the cost-effective policies that can lead the organisations to increase the revenue margin with the minimal expenditure percentage. Furthermore, the work responsibilities require a lucrative formulation to increase the enthusiasm and the motivat ion amongst the resource lines, where the internal members can easily understand the job criterions and deliver the final outcomes with the positive energies. Advancement in the completive strategies The improvement of the completive strategies is highly essential for the SMEs in the Australian market. The previous researches conducted by the scholars reflect that the SMES primarily withstand the issues regarding greater floating customers. Since, high percentages of the SMEs are the start-ups thus, the customers feel hesitant to offer the unified loyalty towards the brands. With the purpose of increase the brand recognition in the market, the formulations of the competitive strategies require being improved. Considering the framework of the BCG Matrix framework, the SMEs majorly remain in the question market position. Therefore, the major challenge for the sector is to push up its sales volume to reach the star position. Lucrative competitive positioning often facilitates the SMEs to place the brand to attain market stability and thus, a competitive advantage. Persistent progression planning The advancement in the planning needs to be the most significant aspect for the SMEs in the Australian market. The management is necessitated to increase its potency in exploring the regular market updates, based on which the both the internal and the external strategies would be framed. The strategies need to be updated on the persistent basis to maintain the sustenance of the business progression. In addition, the foremost objective of the SMEs is to increase the strength of the internal resources. Thus, to attain the specific objectives, the supremacy of the policies needs to be continued. The internal employee always prefers to serve the organisation that provides a stable workplace culture. Additionally, along with the progression, the compensation structure of the employees also requires being improved. The above action would facilitate the enterprise to increase the employee engagement action, which would leave a direct impact on the organisational productivity. Areas of further research The current study explores the significance of the marketing strategies for the sustainability the SMEs. The evaluation is done on various gap methods, which helps the study to understand the shortcomings of the SMEs in the Australian market. Effective recommendations are also discussed that enacts to be the resolving aspects of the subject matter discussed in the problem statement. Therefore, the present research analysis would also help the future readers to understand the aspects of the SMEs, Australia. Limitations of the study Receiving the secondary data has been the major limitation of the research study. Finding out the updated data wi6thin the short period becomes the major challenge for the researchers. Moreover, the backdated information hardly satisfies the subject matter of the research topic. Therefore, the period for the study is not sufficient enough to accumulate the prominent base of the updated information from all the secondary sources like the journals, books, magazines and the corporate websites. References: Cerchione, R., Esposito, E., Spadaro, M. (2015). The spread of knowledge management in SMEs: A scenario in evolution. Sustainability, 7(8), 1021010232. 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