Significance and Purpose of the Study to the Organization
Lihar Organics is a company composed of one managing director, two managers and five employees. Hence, it is a small business enterprise. As discussed earlier in this paper, small and medium-sized enterprises are the backbone of the chemical industry in India. A prime mover of the industrial sector towards progress locally and globally, these SME’s provide brighter future for India’s economy.
With these things in mind, the researcher is of the opinion that conducting a study about a particular SME will help the other SME’s in India to take note of the subject organization’s strengths and weaknesses and use these to guide them to evaluate their own strategies, seek for improvement and always be vigilant for positive and negative changes that may affect the stability and profitability of the company. Management techniques and frameworks that are suited and tailor-made for small companies may also be unravelled.
Lastly, in doing a case study on Lihar, the various processes, procedures, and strategies that are needed for the establishment and operation of a business in the chemical industry are made known, paving the way for the readers and the public to familiarize themselves with these procedures in case they would be interested in the future to engage in the chemical industry as well.
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