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Small scale industries strategic management, Study notes of Strategic Management

Small scale industries strategic management

Typology: Study notes

2021/2022

Available from 11/14/2022

kiran-avni
kiran-avni 🇮🇳

9 documents

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Strategies for Small Business
l. Units i Small business units that compete with
the niche-low-cost strategy go for low initial
investments in their plant, equipment, building
outlets etc.,
ii These business units also go for low
investments in semivariable and variable costs.
ili Small business units that adopt the niche-
differentiation strategy select strategies that
yield superior quality. These units, in some
situation may go for hand - crafting process to
differentiate the product and produce
according to the customer’s preferences. .
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Strategies for Small Business

l. Units i Small business units that compete with the niche-low-cost strategy go for low initial investments in their plant, equipment, building outlets etc., ii These business units also go for low investments in semivariable and variable costs. ili Small business units that adopt the niche- differentiation strategy select strategies that yield superior quality. These units, in some situation may go for hand - crafting process to differentiate the product and produce according to the customer’s preferences..

iv Small business units adopting niche-low-cost/ differentiation strategy go for Strategies that simultaneously lower costs and increase differentiation. This strategy, though, initially involves higher costs, it will result in cost saving and quality improve-ment in the long-run. |