Readers of this blog will be aware that the mid segment in the British economy is badly in need of definition and recognition. Jyoti Banerjee identifies three layers of information that will help in this process.
The M sector is remarkably well-hidden in the British economy despite its sterling performance as a growth engine. Its features are well submerged under the SME definition. In order to get better definition of the M sector, we need at least three distinct layers of information, which in turn need to be configured in a way that will help two key stakeholders: executives of mid-sized organisations, and government.
Layer 1: Macro analysis on economic performance of the M sector
Macro-economic analysis needs to be generated to help policy-makers understand the benefits that the M sector brings to the economy, particularly in terms of growth, jobs and innovation diffusion. It would also cover the challenges that they face, particularly where the issues are such that policy-makers can impact on them through their actions and prescriptions.
Ideally, the macro data needs to be combined with direct feedback from M executives illustrating areas they are being held back in, or particularly benefiting from. The main aim should be to construct a case for what government needs to do to respond to the opportunities and obstacles facing the M sector.
Layer 2: Core content for M execs
The primary purpose of this layer of research would be to generate primers in some key areas in order to give an M executive a high-quality heads-up on the issues that they should be familiar with. Again, case studies would be useful in this context.
The sort of challenges that should be featured in such material should include:
- finding executive talent
- growth strategy
- access to finance
- applying technology to business processes
- globalisation
- getting external input
- regulatory compliance
Layer 3: Benchmarking and self-analytical materials
In this layer of research, the aim should be to help M execs assess their position (and their organisation’s position) relative to their peers. There is plenty of benchmarking material available on large enterprise performance but next to nothing on the key metrics mid-sized organisations can expect to deliver. If we are serious about helping mid-sized organisations reach a new level, we should be giving them the analytical tools to enable this uplift in performance.
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