One Advantage That Small Businesses Have Over Large Businesses Is

question 60

Multiple Choice

One advantage that small businesses have over large businesses is that they

• A) are better able to focus on a few key customers.
• B) have well-defined goals and objectives.
• C) can arrange financial help easily because their capital needs are much smaller.
• D) know what they want to do and have the ability to do it.
• E) have specialized knowledge about the various areas of business concern.

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Definitions:

Social Performance

The measure of an organization's ability to manage its socio-environmental impacts, fulfill social responsibilities, and achieve social goals.

Agency Problem

The agency problem arises when there is a conflict of interest between the goals of principals (such as shareholders) and agents (such as company executives) managing the company.

Market Share

The portion of a market controlled by a particular company or product.

Management Jobs

Positions within an organization responsible for strategizing, decision-making, and overseeing teams or departments to achieve company objectives.