Transforming Small Business (TSB)
The main objective is to improve the business model of the companies and show new opportunities coming from the market, technology and trends.
Improve overall competitiveness of emerging market SMEs, given their important contribution to the overall economy by providing comprehensive business assessment and solutions via newly trained consultants.
In Colombia, SMEs make up as much as 96% of existing businesses in Colombia, employ nearly 80% percent of its workforce, and yet contribute less than 40% of the countryÂ’s Gross Domestic Product. More concerning still, is the fact that less than 1% of all businesses in the country are said to implement any sort of permanent innovation process so as to remain competitive*. This is why it is relevant to create these scenarios, where SMEs can enhance their performance and competitiveness at no charge.
*Colciencias (2008). “Colombia Siembra Futuro”
The TSB program formed a team, made up of a senior consultant, a company and local and international students. Three phases were presented:
- Virtual training (remote): Three days, International and local students take virtual classes (6 hours; two hours per day) where they received information about program, experiences, methodologies and tools.
- Companies Diagnostic (Remote): Two weeks; in this phase, the senior consultant and local students visit the companies to gather information and feed the diagnostic, share data in parallel with international students, via remote meetings
- Proposal and action plan: one week face-to-face; previous arrival of international students, team works together to create and present the most suitable proposal to the company.
- Development of business consulting skills
- Knowledge about culture in small businesses
- Field work inside the companies
- Immediate impact on the business process
- Comprehensive view of all company´s functions