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There are companies that are seriously considering going global, while there are other which want to go lean. Every business owner wishes to keep the focus on more revenue, and…
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Download file to see previous pages nfrontational competition has been a neglected topic over the past couple of years, owing to the ghost of Recession that snatched away finances from many small businesses. However, the scene is a bit different now.
The United States, along with many other leading economies of the world have realized that investing time and money in small businesses which have novelty and new ideas is going to be a great way to begin building the shattered economies and reviving economic stability in these countries. Therefore, most business administration courses today have a significant chunk of literature dedicated to small business management and its various problems. Talking of growing small businesses, it has been noticed that most tech start-ups that get going are eventually bought by major platforms like Yahoo, Google, Microsoft or Facebook. Therefore, when it comes to having an original technology released in the market, the run is either for funding (crowd/venture) or getting enough traction to be bought by the bigger franchisees.
This is where companies that are lean and want to maximize their incoming revenues, face the toughest of competitions. When we say competition, it is natural that one might consider it to be similar to market competition as faced by big businesses. However, the situation is different when it comes to small businesses and lean companies. To begin with, lean companies focus on a niche audience and offer products, services and deals of limited variety. A direct result of this is that they face two situations when it comes to competition. Firstly, they may face no competition at all. Secondly, they may not face wide market competition but have to put up with more focused confrontational competition wherein a direct competitor that is equal in size and strength makes moves that directly affects sales of the lean company. Let us go into each situation separately.
Small businesses operating with limited resources have to face hardly any competition ...Download file to see next pagesRead More
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