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The Ways Of Competitive Advantage Development - Assignment Example

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The Ways Of Competitive Advantage Development

The government through its trade and finance departments play a significant role in making sure all SMEs obtain relevant information about the orientations. In addition, commercial banks, investment banks, and other financial institutions help the enterprises through the provision of credit facilities and guidance on feasible investment destinations (Reijonen 2012). The most significant aspect of orientation is developing a comprehensible understanding of how SMEs perceive and put the concept of marketing into practice. The practices of SMEs will determine their distinctive size, industry or even the crop of customers. Enterprises have adopted unique policies and practices that have to ensure their stability or growth. Bad decisions have resulted to decline in the performance of certain SMEs. However, the government plays important role in the process of ensuring all SMEs have equal opportunities to expand if they have attained all legal formalities. Market orientation is a business approach whose focus is to identify and meet the affirmed wants or needs of prospective customers. According to the philosophy of market orientation, all SMEs must create strategies and policies that are in consensus with the changing demands and expectations of consumers within its niche in the market. These enterprises are vital to the process of driving innovation and competition not only in the US but also in the world at large. They are arguably the backbone of major economies of the world, US included. ...Show more

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A paper "The Ways Of Competitive Advantage Development" reports that the growing SMEs have extensively adopted the market orientation and brand orientation as compared to stable or declining SMEs. The orientations are vital to the process of realizing various forms of growth goals among SMEs…
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The Ways Of Competitive Advantage Development essay example
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