An exploration of what a small business needs to do to compete against 'big box' chains such as Wal-Mart.
Written in 2009; 3,836 words; 14 sources; APA; $ 105.95
Paper Summary:
The paper reviews the literature in the area of small business and its competition against the 'big box' retailers such as Wal-Mart and K-Mart. The paper identifies various strategies for small businesses to compete with the 'big box' companies, such as location, use of the Internet and customer service. The paper concludes that consumers greatly desire small business competition to return to their hometown, but the small business must provide something more than the 'big box' while remaining competitively priced, retaining quality products and providing customer service.
Outline:
Introduction
Management, Marketing and Service
Summary
Conclusion
From the Paper:
"Bannock (2003) states that "the vulnerability of small firms arises virtually by definition from the small scale of their human and financial resources." Bannock states that The Committee of Inquiry on Small Firms, chaired by the late John Bolton identified three characteristics in itS economic definition of small firm as follows: (1) A small market share, that is not large enough to influence national prices or quantities; (2) 2. Managed in a personalized way; and (3) Independence or the exercise of ultimate management responsibility. (Bannock, 2003) Bannock states that these three characteristics "are to be founding the vast majority of all businesses, but the economic definition is of no use for statistical purposes since business statistics are not classified in terms of market share, owner-management and employment dimension, a threshold that seems appropriate to define a 'small firm' in one activity may not be appropriate for another." (Bannock, 2003)"
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