Because of small-business competition, large companies must become more efficient and responsive to consumers' needs.

Question

Quizplus · Accepted Answer

Small-business competition has a direct impact on large companies, as they are forced to become more efficient and responsive. This is because small businesses often have the ability to provide more personalized and tailored services to their customers, giving them an advantage over larger companies that may be seen as less nimble and less attuned to consumer needs. In order to remain competitive, larger companies are therefore forced to streamline their operations, improve their customer service, and highlight their unique value propositions in order to stand out from the crowd.

Because of Small-Business Competition, Large Companies Must Become More Efficient