Many small business were founded and grew to be succesfful o

Many small business were founded and grew to be succesfful on a platform of ethics and soical responsibility. However, more than a few of these companies became so scuessful that they were acquired by larger firms that may or may not respect the principles and values on which they were founded. How can such companies protect their core values as they grow from small firms to large ones and/or are acquired bu multinational conglomerates?

Solution

The key elements to consider for the small business growth when acquired by multinational conglomerates are

-          Encouraging the shared beliefs with positive attitude and maintaining the relaxed environment by establishing a structure for decision making, setting the priorities and treating each other within this

-          Extending the social awareness to the employee based on the business’s mission statement and training them

-          Being receptive to the customer by elevating the understanding and empathy

-          Transparency in communication by having open-door policy for employees

-          Keep the employees up to date on key decisions

-          Recognizing employees through reward system

-          External activities for employees to make them aware of who they work with on daily basis, this improves the confidence of an employee to boost the small business.