Cost Efficient Problem-Solving Techniques for Small Businesses

Abstract

The basic premise upon which the Production/Operations Management discipline is built is that organizations desire to manage a set of limited resources such that certain inputs are transformed into desired outputs in the most efficient and effective manner. This is true of any type or size organization: public or private, manufacturing or service, large or small. Yet, managers of small organizations may forego the use of Production/Operations Management (P/OM) techniques, sensing that the benefits to be derived from such techniques do not outweigh their costs. This article reports the results of a survey of P/OM practices in small firms and shows that there are needs small business managers have which can be satisfied through the use of cost-efficent P/OM techniques.