Quiz (formative)
Quiz (formative)
Why might some businesses find benefits in staying small despite the gains of growing in size?
Changes to technology in recent years have torn up traditional ways of doing business, consequently allowing businesses to target global markets and grow in terms of revenue and profit.
Staying small can help businesses be more flexible in responding to customer needs, therefore improving customer service and potentially becoming a unique selling point.
Growing in size can lead to businesses expanding their reach and market presence, whereas staying small can enable businesses to focus on niche markets and offer specialized products or services.
What strategies can a small online education provider use to compete with larger institutions in offering specialized courses?
How can a small artisan bakery use social media to compete with larger bakery chains and increase its market share?
How can a small business in the eco-friendly product market leverage technology to expand its customer base globally, while maintaining its unique selling proposition (USP)?
