Question: 1. How would you define small business? 2. Name a company that seems large but might be classified as small because it has relatively little

1. How would you define small business?

2. Name a company that seems large but might be classified as small because it has relatively little impact on its

industry.

3. Define outsourcing, and describe its impact on small business.

4. Is workforce diversity as important to small businesses as it is to big businesses? Why or why not?

5. Why are small businesses more likely than large businesses to be innovative?

6. How can being close to your customers give you a competitive advantage?

7. Describe the techniques that a business with which you are familiar has used to prevent business failure.

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1 Small businesses are typically privately owned enterprises characterized by their small scale in terms of revenue number of employees and operational footprint They often operate within local or nic... View full answer

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