Richard Sennett describes three factors which impact on the nature of modern work and organizations. How do these factors impact upon Smaller and Medium sized Enterprises (SMEs)?

Small and medium sized businesses are well recognized and acknowledged worldwide as vital and significant contributors to economic development, job creation, and the general health and welfare of economies, both nationally and internationally (Morris and Brennan 2000). The small business sector represents a statistically significant proportion of the world economy. <Small business growth: Intention, ability, and opportunity, Alison Morrison, John Breen, Shameem Ali, Journal of Small Business Management. Milwaukee: Oct 2003.Vol. 41, Iss. 4; pg. 417&…

…future corporatist since they will be able to increase their productivity and scale through gradual growth and experience of the market not only domestic but globally and this will bring about better lifestyle amongst people and will lead to improvement of the economy and society. Hence, larger and smaller companies should work together in order to bring about the best of efficiencies of both companies and bring about betterment of each other and the society.