2.1.5 How small businesses compete

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    How do small businesses compete?

    • Greater flexibility in responding to customer needs (customer service)
    • USP/product differentiation
    • By being niche providers as there will be little competition for niche markets
    • Better stakeholder relationships (as there is a shorter chain of command) meaning less distance between managers and employees
    • They also may be monopolists in their area e.g. a corner shop is better for consumers than a large store as they don’t to make big purchases as they might be expected to in a larger store.

     

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