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Strategy Management in Entrepreneurial Vs. Large Public Corporations - Research Paper Example

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Strategy Management In Entrepreneurial Vs. Large Public Corporations Name: Institution: Differences in process An entrepreneur is an individual who seeks to undertake a commercial venture with the sole objective of making profit (Napier, 2006). This is a comprehensive process that involves evaluation of a number of factors some of which include: competition, capital, customers, location, pricing, advertisement among others…
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Strategy Management in Entrepreneurial Vs. Large Public Corporations
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Download file to see previous pages A market that is left entirely at the mercies of private investors becomes capitalist in nature with every single investor coming up with individualistic schemes to maximize profits. It is, therefore, prudent for governments to protect their citizens from the exploitative nature of the private investors; this is best accomplished through the introduction of public corporations. In the transport sector, the government manages major train transport system and sets the fare for travelers. Other investors who would get interested in the industry would thus set their fares around that set by the government because should they charge exorbitantly no client would seek their services. From the above study, the difference between these two is very clear: entrepreneurial ventures are set to fetch profits while public corporations seek to level the market. The entrepreneur must consequently put into considerations the above stated factors and at the same time consider the position of public corporations. ...
They must also be able to manipulate the market factors to ensure that they attract the highest number of customers that would enable them achieve just that. All that differs is the technique that both entities employ to maneuver these market factors. Techniques Entrepreneurial venture uses a combination of techniques to achieve maximum profit, the most common of these techniques and one that is most utilized is advertising. This is the easiest way of ensuring and enhancing brand visibility. Advertising is mainly aimed at creating publicity for the products and services that are offered by a given entity. This is normally accompanied by a brand positioning statement which in most cases is exaggerated. Some of the advertising avenues that are often used include television and radio. In modern times and following the invention of the internet and the onset of the social media, the limit and possibilities of advertising are endless. The adverts commonly run in the media are more attractive and more expensive. They are also run in both the public and public media which makes them the more expensive. The entrepreneurial ventures also offer much more complimentary services and reliability. A transport company would offer more comfort, safety and security of the customer and their luggage. The entrepreneurs normally study the market effectively before setting up to undertake any investment in the sectors in which they are interested. In this study, major concentration is normally given to determining the faults of other players and then capitalizing on these faults to better their services thus boosting their trades. The public corporations also use certain techniques to ensure that they get the customers necessary to ...Download file to see next pagesRead More
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