Many Small Firms Seek to Establish a Particular Niche in the Market

question 74

Multiple Choice

Many small firms seek to establish a particular niche in the market, realising that they cannot afford to operate on a larger scale without exposing themselves to considerable risk of retaliation from larger companies.When a number of small businesses are operating in this manner, they are forcing the larger businesses to recognise and account for their influence on the market.In this way, small businesses are primarily

• A) fostering competition.
• B) providing technical innovation.
• C) creating jobs.
• D) satisfying the needs of other businesses.
• E) avoiding competition.

Comprehend the process and essential elements of crafting a grant proposal.

Appreciate the versatility and interactive nature of public speaking to engage audiences.

Understand strategies for building a convincing argument or presentation to influence decision-making.

Differentiate between the communication styles suitable for expert and general audiences.

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Definitions:

Arbitration

A form of dispute resolution where a neutral third party makes a binding decision to resolve a conflict between parties.

Conflict Management

The practice of identifying and handling conflicts in a sensible, fair, and efficient manner, aiming to minimize negative impacts while maximizing the positive outcomes.

Emotional Intelligence

The ability to understand, use, and manage one's own emotions in positive ways to relieve stress, communicate effectively, empathize with others, overcome challenges, and defuse conflict.

Supportive Team Norms

Established standards and behaviors within a team that promote mutual respect, collaboration, and support.