Essay about Business Management : A Small Business

783 Words Jun 9th, 2015 4 Pages
In an economy where people are trying to get more consumer satisfaction with less available money, large corporate businesses tend to dominate the market. Large companies can drive down retail prices, afford the best locations, and provide one stop shopping. How does a small business expected to compete with such dominance in the consumer market for a reasonable rate of return on goods and services? There are five different items to focus on for the best chance of survival as a small business entrepreneur just starting out or trying to keep a business from becoming a statistic. These items are customer focus, quality performance, integrity and responsibility, innovation and globalization, and finding a special niche (Longenecker, Petty, Hoy, & Palich, 2012). The goal of most business owners is to build a successful business that can be sold for a profit after many years of successful customer service or relinquish it as a family business to continue the legacy and allow family and friends to gain financial benefits of being a business owner. While very few small businesses will ever become the next Walmart, Home Depot, or Microsoft there is no shortage of entrepreneurial dreams that drive business owners toward the one in a million chances of infinite success and wealth. Customer focus can drive a small business to be as successful as or even more successful than larger competition. Providing services and products that consumer’s desire and providing them…

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