Why is it important for a small business owner to create a plan for establishing a competitive

Question:

Why is it important for a small business owner to create a plan for establishing a competitive advantage?

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Essentials of Entrepreneurship and Small Business Management

ISBN: 978-0133849622

8th edition

Authors: Norman M. Scarborough, Jeffrey R. Cornwall

See More Books

Question Posted: May 08, 2015 07:37 AM

See More Questions

Is it possible for a small business owner to take an active role in social responsibility? What are some ways that a small business (for example, a family business or a local business you are...
Why is it important for a foreign affiliate to have a well-defined dividend policy for repatriating profits to its parent corporation?
Why is it important for a professional accountant to understand the ethical trends discussed in this chapter?
The San Francisco Chronicle reported that two Stanford graduates, Dave Kaval and Brad Null, set a goal to see a game in every major league baseball stadium. They began in San Francisco and selected...
Suppose it is the beginning of 2008 and you are trying to assist the forecaster in Case New Holland, an international agricultural and construction equipment manufacturer, forecast total agricultural...
Scenario R v Tyndall(fictitious)...
(7) What will be the outcomes for people or objects that I care about (the quality of the product/service, clients, my colleagues and friends, the direction of the company, my current and future role...
1. Apply the steps in Exhibit 4.3, Ethical Conflicts and Compliance with the Rules of Conduct, and analyze whether the relationships described in this case create a conflict of interests and, if so,...
Lisa was offered two options for a car she was purchasing: - Lease option: Pay lease amounts of $550 at the beginning of every month for 6 years. At the the end of 6 years, purchase the car for...
Go to the Webinars worksheet. DeShawn wants to determine the number of webinars the company can hold on Tuesdays and Thursdays to make the highest weekly profit without interfering with...
What is a competitive advantage?
Describe how a small business owner could use finding a niche and fill it for a competitive advantage.
The marketing concept includes all of the following concepts except a. producing those products with the largest production efficiency b. customer orientation c. integrated organizational effort d....
Childhood leukemia, a hematological malignancy, is the most common form of childhood cancer, representing 29% of cancers in children aged 0 to 14 years in 2018. Imagine that you work in the State...
Question 1 Approximating functions using linear functions or higher degree polynomials is a very useful scientific tool! This concept generalizes to Taylor Polynomials, but is most simply illustrated...
Find the volume of the solid of revolution formed by rotating the specified region R about the x axis. Volume Formula Suppose f(x) is continuous and f(x) 0 on a x b, and let R be the region under the...
As machines get older, the cost of maintaining them tends to increase. Suppose for a particular machine, the rate at which the maintenance cost is increasing is approximated by the function C' (t) =...
At Edsel Automotive, the management team is planning to expand one of its plants by adding a new assembly line for sport utility vehicles (SUVs). The cost of setting up the new SUV assembly line is...
What are some inquiries an auditor can make when examining the equity accounts to add value to the audit?
Use of the contraceptive Depo Provera appears to triple women's risk of infection with chlamydia and gonorrhea , a study reports today. An estimated 20 million to 30 million women worldwide use Depo...
An R-12 vapour compression refrigeration system is operating at a condenser temperature of 40C and an evaporator temperature of 5C. Calculate the actual COP of the cycle. The enthalpies of R 12 at...
What is breach of contract? What remedies are available to a party injured by a breach?
What is the Uniform Commercial Code? To which kinds of contracts does the UCC apply? How do its requirements for a sale contract differ from the common law requirements?
Under the UCC, what remedies does a seller have when a buyer breaches a sales contract? What remedies does a buyer have when a seller breaches a contract?
Javier is currently paying $1,200 in interest on his credit cards annually. If, instead of paying interest, he saved this amount every year, how much would he accumulate in a tax-deferred account...
Your company is considering the purchase of a fleet of cars for $195,000. It can borrow at 6%. The cars will be used for four years. At the end of four years they will be worthless. You call a...
Saly paid $52,000 a year paid on a weekly basis. last pay she had $250 withheld in Income Tax, $48.97 for CPP and $15.80 for EI. an additional $and 25.00 in tax are deducted each pay. She allowed to...

Why is it important for a small business owner to create a plan for establishing a competitive

Question:

Step by Step Answer:

Developing a competitive advantage allows the small company to meet custo...View the full answer

Essentials of Entrepreneurship and Small Business Management

Students also viewed these Management Leadership questions