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Hi, need to submit a 2250 words paper on the topic Strategy Management in Entrepreneurial vs Large Public Corporations.
Hi, need to submit a 2250 words paper on the topic Strategy Management in Entrepreneurial vs Large Public Corporations. In most cases, the entrepreneurial ventures set their prices a little higher than the public corporations but they still get clients, this implies that they must manipulate the other factors so as to make their clients overlook the increased price. In most cases, the entrepreneurial ventures set their prices a little higher than the public corporations but they still get clients, this implies that they must manipulate the other factors so as to make their clients overlook the increased price. In as much as the public corporations do not exist to profit maximize, the fact that they are in business cannot be downplayed. They have the staff to pay amongst other overheads they must cover. This means that they must aim to break even at the very least. this will enable the venture to cover important undertakings (Johnston, 1991). They must also be able to manipulate the market factors to ensure that they attract the highest number of customers that would enable them to achieve just that. All that differs is the technique that both entities employ to manoeuvre these market factors. .
Techniques Entrepreneurial venture uses a combination of techniques to achieve maximum profit, the most common of these techniques and one that is most utilized is advertising. This is the easiest way of ensuring and enhancing brand visibility. Advertising is mainly aimed at creating publicity for the products and services that are offered by a given entity. This is normally accompanied by a brand positioning statement which in most cases is exaggerated. Some of the advertising avenues that are often used include television and radio. In modern times and following the invention of the internet and the onset of social media, the limit and possibilities of advertising are endless. The adverts commonly run in the media are more attractive and more expensive. They are also run in both the public and public media which makes them the more expensive. . Entrepreneurial ventures also offer much more complimentary services and reliability.
A transport company would offer more comfort, safety and security of the customer and their luggage. The entrepreneurs normally study the market effectively before setting up to undertake any investment in the sectors in which they are interested. In this study, major concentration is normally given to determining the faults of other players and then capitalizing on these faults to better their services thus boosting their trades. The public corporations also use certain techniques to ensure that they get the customers necessary to keep them in operation. While the entrepreneurs go about improving their brand visibilities, public corporations do not. Their existence is normally a result of acts of parliaments. this offers them enough official visibility. However, they also engage in advertisements as they as well appreciate the role that advertising plays in boosting sales, the bulk of their advertising is run on government broadcasting stations.