Small Business/Large Business Relationships
Small businesses usually see larger businesses as major competition. Many small enterprises compete directly against large ones. Large companies have more resources and various layers to it.
As the 90s rolled around, there was an increase in partnerships between small and large businesses. Although this was happening, large companies still defeated small enterprises, but what these companies began to realize was the benefits of partnerships with small businesses. Small companies that grow are able to provide new customers and products that large businesses can benefit from. Partnerships can even be made between profits/nonprofits or even between different industries.
Small companies have shown to adapt easily to the changing of market trends. They use their flexible structure to out-do large companies. Although their small size has many benefits, they are also limited by certain accomplishments that can easily be made by large firms. For example, small firms work to establish presence internationally, which is common for large firms. With globalization being a major current thing, small companies need to partner with large companies in order to survive this modern day.
All in all, large and small businesses complement each other nicely. Entrepreneurs must be careful which partnership they choose and should do plenty of research to ensure benefits. They must continue to recognize their own responsibilities and display independence. With all this in mind and open communication within the partnership, success is a definite possibility.
https://www.inc.com/encyclopedia/small-business-large-business-relationships.html
https://www.inc.com/encyclopedia/small-business-large-business-relationships.html
No comments:
Post a Comment