- Thread starter
- #21
You have very good point here , it is more reason why as business grow so the challenges grow so the business owner need to be more strict with supervision to have substandard products or services because of diversion.
Challenges in big businesses
- Thread starter ahmedo24
- Start date
One of the problem of a big business is finding the right staff or people that can work with you
finding the right staff, retaining them, and ensuring they buy into the vision of the business is very hard and also they face the problem of financial management.
finding the right staff, retaining them, and ensuring they buy into the vision of the business is very hard and also they face the problem of financial management.
The challenges encountered by big or even sMall business are very many. You have the internal challenges like short of staff, corruption by the members Of staff, among others. also, there are external challenges like poor patronage from people, low or poor feedback (customer) on products and unfavourable government policies.
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We live in rapidly changing times, especially for businesses. Consider that, in a single generation, businesses have had to adapt to entirely new marketing channels (web and social), decide how to invest in and utilise new technologies, and compete on a global stage things that were barely imaginable to our parents’ and grandparents’ generations.
Uncertainty about the future
Financial management
Monitoring performance
Regulation and compliance
Competencies and recruiting the right talent
Technology.
Exploding data.
Customer service
Uncertainty about the future
Financial management
Monitoring performance
Regulation and compliance
Competencies and recruiting the right talent
Technology.
Exploding data.
Customer service
I don't really have a business, so I'm saying this base on what I know. Big business have bigger challenges, might I say. It's more difficult to handle and is often expose to different threats. They usually have more obligations to pay and much tougher decisions to call.
At the point when the business began as a one or a couple of originators, they can rapidly work together, settle on a choice and execute on that choice.
As the organization develops, more individuals are added with requires upgrading the dynamic foundation. Choices and decisions may have to experience panels or all over a power tree before they are closed down.
As the organization develops, more individuals are added with requires upgrading the dynamic foundation. Choices and decisions may have to experience panels or all over a power tree before they are closed down.
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No business runs without facing one challenge or the other. Both small and big businesses have their challenges. However for a big business the major challenge is management. The big a business grows the harder it is to control and manage.
The difference between a big business and a small one, is the amount of money invested in it, so the bigger the business the bigger the risk of losing the amount of money you invested, it also comes with alot of responsibility, having to manage staffs etc
If the business is a big business, it's definitely going to be requiring more capital resources and human resources to run it efficiently and effectively. It's not an easy task to manage a big business because if you are not careful and not working with honest people, they will keep stealing your money.
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When we are talking about a big business challenges which means the commons problems facing a big business. There is lots of challenges that can be facing a big business but its just depends on the management it gets. But the commons challenges is competition challenges.
Whether big or small business, the big challenge Business owner usually go through is competition. A lot competition with government networks are out there ready to chase you out if business just because they have some strong dealings with the government. The best way to overcome this is to position yourself in a tight way that they won't be able to overcome you
Whether big or small business, the big challenge Business owner usually go through is competition. A lot competition with government networks are out there ready to chase you out if business just because they have some strong dealings with the government. The best way to overcome this is to position yourself in a tight way that they won't be able to overcome you
Post automatically merged:
Whether big or small business, the big challenge Business owner usually go through is competition. A lot competition with government networks are out there ready to chase you out if business just because they have some strong dealings with the government. The best way to overcome this is to position yourself in a tight way that they won't be able to overcome you
Competence and recruitment: if any organizations fails to get the best staffs to handled their day to day activities, such business will fail. Recruitment and continuos improvement of the company workforce is one that must be taken serious if such company wish to get to the next stage
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Whenever you start a big business, the first challenge for you is that you have to invest a lot in it and secondly you have to be very careful in it and There is a lot of responsibility on you not to fail and if you fail, there is a lot of damage and you have to work very carefully and sensibly and I think there are a lot of challenges you Have to face in big business always.
*Uncertainty about the future.
*Financial management.
*Monitoring performance..
*Regulation and compliance..
*technology.
*Exploding data
*customer service .
In big businesses, one of the issues being faced is pressure to deliver. People often see a company who is big to do great things and perform beyond their capacity. It is very pertinent that businesses try to satisfy customers but not at the detriment of their health. People expect so much from them that it overwhelms them
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The major challenges of big business are capital and good decision making which is what makes a lot of big business crash today, no proper Management for this business would make they crash
Being able to predict customer trends, market trends etc. is vital to a changing economic climate. Bringing in a consultant trained in reading and predicting those all-important trends could be the difference between a bright future and a murky one.
- Thread starter
- #38
These are possible factors that truly affects a big business though to an extent they can be avoided and can be worked like regulations and compliance you ensure you registered with all relevant bodies and pay all necessary dues
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Big businesses also have varies of issues to deal with just like the small scale business.... Unlike small businesses that you can oversee it's so hard to keep track of everything in the big businesses... Then also taxes.... The government will want to milk the organization with taxes... The issue of emblezzement among the staffs is also something to think about.
Biggest challenges businesses face today are, Uncertainty about the future, Financial management, Monitoring performance, Regulation and compliance, Competencies and recruiting the right talent, Technology and Exploding data.
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