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Discussion on Business Organization
Pages 4 (1004 words)
Mk2053 1. Business organization may be differentiated into market leaders and market followers. In the opinion of Pickton and Masterson, 2010, p.38, “strictly, the market leader is the business organization that sells the most”. However, in using such a simplistic description of market leaders care has to be taken, for there may be differences in relation to different markets.
This market leadership may relate to pricing innovation, product innovation, new forms of promotion, development of new market segments, or initiating a new trend in the market. Quite often such market leaders may not be large organizations, but more innovative smaller organizations, like Dyson in vacuum cleaners; or organizations with better expertise, like specialized accounting firms or those with more talent and competencies, like Stella McCartney in fashion designing. Simon, 2009, p.29, terms such smaller organizations as “hidden champions”. These “hidden champions”, reframe the definition of market leadership to “market leadership not only in terms of market share, but see it as an extended claim to overall leadership in their markets” (Simon, 2009, p.29). Table – 1 below gives the advantages and disadvantages of market leadership. ...
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