How does the advantage of speed affect small businesses? List two ways rapid response may be incorporated into an organization’s workflow and provide one example.
When researching about the advantage of speed which, can be looked at in many different ways. The advantage of speed affects small businesses compared to larger businesses because the larger business can deliver on the contract faster than a small business would be able to. The larger companies have the advantage of speed because they can deliver to customer’s at a faster pace than a smaller business would be able to. If this were to happen on a frequently basis then the smaller business would lose much of the business that they had within that community. This could affect small business to the point of closing their doors because they do not have enough business to stay open. I have seen some small businesses fail because of the larger companies that offer the same types of services. Here, in my hometown there is one place I can think of that has been several different things and they did not do that well in the area that they established their business. This is a small town and there are small businesses all around but some of them do not make it in this small town because they do not have enough business. Furthermore, if the small business has the advantage of speed within the establishment this would increase the amount of business that the company has within the community. The small business needs to assure the consumer’s that they can produce and provide their services to the consumer’s faster than the competitor’s for a better price. Increasing the sales revenue is on every business to keep that business and increasing the sales of the small business. By incorporating rapid response into the organizations work flow can be done by providing flexibility and differentiation. When a small business incorporates flexibility the small business can ultimately respond rapidly to the changing needs of those customer’s that come into their establishment. If I were a small business owner I would want to be ready for the customer’s and want to have what they needed so that I can keep that business from those customer’s. By listening to what the customer wants the small business is able to provide what the customer needs.