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Business > 3.2.4 Reasons For Staying Small > Flashcards

3.2.4 Reasons For Staying Small Flashcards

1
Q

What is one reason for a business to stay small?

A

To maintain a personal touch with customers

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2
Q

True or False: Staying small can allow a business to be more flexible and responsive to changes in the market.

A

True

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3
Q

Fill in the blank: Staying small can help a business to avoid ________.

A

Bureaucracy

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4
Q

What is a benefit of staying small in terms of decision-making?

A

Faster decision-making process

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5
Q

What is one challenge that small businesses may face due to their size?

A

Limited access to resources

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6
Q

What is one reason why some businesses choose to stay small rather than expand?

A

To maintain quality control

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7
Q

What is a potential disadvantage of staying small in terms of economies of scale?

A

Higher production costs

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8
Q

True or False: Staying small can lead to limited growth opportunities for a business.

A

True

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9
Q

Fill in the blank: Staying small can allow a business to focus on ________.

A

Niche markets

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10
Q

What is one reason why a business might choose to stay small in order to compete effectively?

A

To be more agile

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11
Q

What is one potential drawback of staying small in terms of brand recognition?

A

Less brand visibility

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12
Q

True or False: Staying small can lead to lower overhead costs for a business.

A

True

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13
Q

Fill in the blank: Staying small can result in a more ________ work environment.

A

Collaborative

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14
Q

What is one reason why a business may choose to stay small in order to maintain control?

A

To retain ownership

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15
Q

What is a potential benefit of staying small in terms of customer relationships?

A

Stronger customer loyalty

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16
Q

True or False: Staying small can make it easier for a business to adapt to changing customer preferences.

A

True

17
Q

Fill in the blank: Staying small can lead to a more ________ business model.

A

Sustainable

18
Q

What is one reason why a business might choose to stay small in order to foster innovation?

A

To encourage creativity

19
Q

What is one potential drawback of staying small in terms of market share?

A

Limited market reach

20
Q

True or False: Staying small can result in higher profit margins for a business.

A

True

21
Q

Fill in the blank: Staying small can lead to a ________ organizational structure.

A

Flat

22
Q

What is one reason why a business may choose to stay small in order to reduce risk?

A

To minimize financial exposure

23
Q

What is a potential benefit of staying small in terms of employee morale?

A

Higher job satisfaction

24
Q

True or False: Staying small can result in greater brand differentiation for a business.

A

True

25
Q

What is an SME

A

Small to medium sized enterprise

26
Q

What is an SME

A

Small to medium sized enterprise

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