BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -Competition and economic development are two factors that have allowed small companies to act like they are big in this dynamic environment and competitive market.

Detailed explanation-2: -Working together to meet potential customers. Small and large companies can join together to offer challenges, events and opportunities to meet potential customers.

Detailed explanation-3: -Larger businesses tend to have a more rigid hierarchy and a bureaucratic structure because they have more employees. In this hierarchy, the board of directors and the CEO have the most control in the chain of command. In contrast, many smaller companies only have a small group of people or a single person in charge.

Detailed explanation-4: -The growth of big businesses can hurt small-business profitability. Big businesses can deploy more marketing professionals and product designers to gain share in new markets. Small businesses are usually at a competitive disadvantage because they do not have comparable resources.

Detailed explanation-5: -It goes without saying that small businesses promote and encourage local entrepreneurship. But more than that, this article continues that, “Small businesses provide opportunities for entrepreneurs, jobs for neighbours and gathering places for communities.