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Small and medium-sized enterprises (SMEs) or small and medium-sized businesses (SMBs) are businesses whose personnel numbers fall below certain limits. The abbreviation "SME" is used by international organizations such as the World Bank, the European Union, the United Nations and the World Trade Organization (WTO).

SMEs outnumber large companies by a wide margin and also employ many more people. For example, Australian SMEs make up 98% of all Australian businesses, produce one-third of the total GDP and employ 4.7 million people. In Chile, in the commercial year 2014, 98.5% of the firms were classified as SMEs.In Tunisia, the self-employed workers alone account for about 28% of the total non-farm employment and firms with fewer than 100 employees account for about 62% of total employment.In developing countries, smaller (micro) and informal firms, have a larger share than in developed countries. SMEs are also said to be responsible for driving innovation and competition in many economic sectors. Although they create more jobs, there is also a majority of job destruction/contraction.

Overview

SMEs are important for economic and social reasons, given the sectors role in employment. Due to their sizes, SME are heavily influenced by their Chief Executive Officers, a.k.a. CEOs. The CEOs of SMEs often are the founders, owners, and manager of the SMEs. The duties of the CEO in SME are difficult, and mirror those of the CEO of a large company: the CEO needs to strategically allocate her/his time, energy, and assets to direct the SMEs. Typically, the CEO is the strategist, champion and leader for developing the SME or the prime reason for the business failing.

At the employee level, Petrakis and Kostis (2012) explore the role of interpersonal trust and knowledge in the number of small and medium enterprises. They conclude that knowledge positively affects the number of SMEs, which in turn, positively affects interpersonal trust. Note that the empirical results indicate that interpersonal trust does not affect the number of SMEs. Therefore, although knowledge development can reinforce SMEs, trust becomes widespread in a society when the number of SMEs is greater.

           Faraday's law of induction

Faraday's law of induction (briefly, Faraday's law) is a basic law of electromagnetism predicting how a magnetic field will interact with an electric circuit to produce an electromotive force (EMF)—a phenomenon called electromagnetic induction. It is the fundamental operating principle of transformers, inductors, and many types of electrical motors, generators and solenoids.

The Maxwell–Faraday equation (listed as one of Maxwell's equations) describes the fact that a spatially varying (and also possibly time-varying, depending on how a magnetic field varies in time) electric field always accompanies a time-varying magnetic field, while Faraday's law states that there is EMF (electromotive force, defined as electromagnetic work done on a unit charge when it has traveled one round of a conductive loop) on the conductive loop when the magnetic flux through the surface enclosed by the loop varies in time.

Faraday's law had been discovered and one aspect of it (transformer EMF) was formulated as the Maxwell–Faraday equation later. The equation of Faraday's law can be derived by the Maxwell–Faraday equation (describing transformer EMF) and the Lorentz force (describing motional EMF). The integral form of the Maxwell–Faraday equation describes only the transformer EMF, while the equation of Faraday's law describes both the transformer EMF and the motional EMF.

History : 

Electromagnetic induction was discovered independently by Michael Faraday in 1831 and Joseph Henry in 1832.Faraday was the first to publish the results of his experiments.In Faraday's first experimental demonstration of electromagnetic induction (August 29, 1831), he wrapped two wires around opposite sides of an iron ring (torus) (an arrangement similar to a modern toroidal transformer). Based on his assessment of recently discovered properties of electromagnets, he expected that when current started to flow in one wire, a sort of wave would travel through the ring and cause some electrical effect on the opposite side. He plugged one wire into a galvanometer, and watched it as he connected the other wire to a battery. Indeed, he saw a transient current (which he called a "wave of electricity") when he connected the wire to the battery, and another when he disconnected it.This induction was due to the change in magnetic flux that occurred when the battery was connected and disconnected.Within two months, Faraday had found several other manifestations of electromagnetic induction. For example, he saw transient currents when he quickly slid a bar magnet in and out of a coil of wires, and he generated a steady (DC) current by rotating a copper disk near the bar magnet with a sliding electrical lead ("Faraday's disk").

Michael Faraday explained electromagnetic induction using a concept he called lines of force. However, scientists at the time widely rejected his theoretical ideas, mainly because they were not formulated mathematically.An exception was James Clerk Maxwell, who in 1861–62 used Faraday's ideas as the basis of his quantitative electromagnetic theory.In Maxwell's papers, the time-varying aspect of electromagnetic induction is expressed as a differential equation which Oliver Heaviside referred to as Faraday's law even though it is different from the original version of Faraday's law, and does not describe motional EMF. Heaviside's version (see Maxwell–Faraday equation below) is the form recognized today in the group of equations known as Maxwell's equations.

Lenz's law, formulated by Emil Lenz in 1834, describes "flux through the circuit", and gives the direction of the induced EMF and current resulting from electromagnetic induction (elaborated upon in the examples below).

Reliance Jio had reduced the ringing time of its outgoing calls to other networks to 20 seconds, but now the time limit has been extended to 25 seconds

• The regulator has also asked the telcos to reach a common answer as to what the ringing time should be. Reliance Jio has said that the lower network costs on its balance sheets are because of the deployment of the 4G VoLTE technology, unlike the other telcos’ 2G customers who are charged Rs 1.5 per minute for calls. This is also the reason as per the telco why its network is being bombarded by numerous missed call alerts from the other networks. It is also true that right now, Bharti Airtel and Vodafone Idea are the net gainers in the IUC payouts because of the network asymmetry

Source :  telecomtalk.info