Building a High-Tech Enterprise

Small business is the term used to describe any type of business in which the company has fewer assets than the value of the company. Small businesses are generally privately owned enterprises, partnerships, or sole ownerships that typically have less than five employees and/or lower annual revenue than an average-sized corporation or business. However, small businesses do not necessarily exist in the same forms as giant corporations. In fact, some of the most successful companies in the world today were started as modest companies.

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Building a High-Tech Enterprise

Small business is the term used to describe any type of business in which the company has fewer assets than the value of the company. Small businesses are generally privately owned enterprises, partnerships, or sole ownerships that typically have less than five employees and/or lower annual revenue than an average-sized corporation or business. However, small businesses do not necessarily exist in the same forms as giant corporations. In fact, some of the most successful companies in the world today were started as modest companies.

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So what types of small business are there? There are many types of small business. For example, a jeweler could be classified as a small business if he only has a few employees. Conversely, the owner of a mega-mall could also be classified as a small business, depending on the number of outlets he has under his business name. If a business has one location and that location is on a main street in a city, then it is almost always a small business.

While many people think of small businesses as locally owned operations, there are also a great number of them that are franchise operations. Franchises are becoming increasingly popular for a number of reasons. One, franchises allow a large number of small businesses to be established at one time. That means there are more options for customers when they are looking for smaller businesses to purchase goods from. Also, because franchises tend to be associated with established companies, there are often guarantees and warranties that accompany the franchise agreement.

The business can be started one stage after the initial purchase. Often, this is called an “asset-based business.” The owner can hold onto the asset – the business – while using that money to develop the business into an “enterprise,” which means the business is developed into a profit-making enterprise.

Once the owner has created the enterprise, he or she must maintain it sufficiently to make a profit. The second stage, called the survival stage, occurs when the business has developed into a profit-making enterprise. For this to occur, the owner needs to continually add to the income of the business. There are a variety of methods used to determine the amount of profit for a business. Some of these methods include the operating expense model, where a company calculates its expenses per revenue in order to arrive at an accurate profit figure.

In order to come up with a statistical analysis for determining the profitability of a small business, many business owners use the quality management concept. The quality management concept states that a business must either provide a unique product or service or offer services or products that solve problems. A problem in any area of a business is defined as something the customer cannot do anything about. For example, if a customer cannot order a product because there is no place to purchase the product, then the problem is not solvable.

The third, or early stages of growth, represents the most difficult and complex part of building the business. The early stages require that the owner build relationships with key customers by providing a superior product or service. Customer satisfaction is the objective when dealing with the customer. As the owner develops relationships, they should also develop loyalty among their employees, which is the fourth component of success. Loyalty can be established through personalized customer service and referrals to the owner by his or her employees.

The five components of a successful small business – technological, geographic, managerial, customer and strategic planning – are all interrelated. All of these components play an important role in the way a business operates. The small business is said to be a high-technology enterprise when it engages in strategic planning. A strategic plan is made with the knowledge of what the business is trying to accomplish and what threats it faces.

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