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Small Business Management 6th Edition by Timothy Hatten
Edition 6ISBN: 978-1285866383Small Business Management 6th Edition by Timothy Hatten
Edition 6ISBN: 978-1285866383 Exercise 1
Name a company that seems large but might be classified as small because it has relatively little impact on its industry.
Explanation
Verified
Verified
Small business:
Small business can be defined as a unit where the business activities are measured to be small in size, if it is owned, financed and operated independently. Generally, small businesses consist of less than 100 employees depending upon the service rendered.
Small businesses are common in most countries which are relatively dependant on the economic system of operation.
The criteria for determining small and large businesses are based on the number of employees in the business. The other criteria are sales value, value of assets, and the value of owner's equity.
Large industry which is termed to be a small business:
T Motors which had annual revenue of $200 million in the year 2009 is known to be a small business in the industry. Though, it had an impressive revenue in the year, it is still considered to be small because it had little influence on the big giants like G.M motors which had sales revenue of $149billion and T.O motors which had sales revenue of $211 billion in the year 2009.
Small business can be defined as a unit where the business activities are measured to be small in size, if it is owned, financed and operated independently. Generally, small businesses consist of less than 100 employees depending upon the service rendered.
Small businesses are common in most countries which are relatively dependant on the economic system of operation.
The criteria for determining small and large businesses are based on the number of employees in the business. The other criteria are sales value, value of assets, and the value of owner's equity.
Large industry which is termed to be a small business:
T Motors which had annual revenue of $200 million in the year 2009 is known to be a small business in the industry. Though, it had an impressive revenue in the year, it is still considered to be small because it had little influence on the big giants like G.M motors which had sales revenue of $149billion and T.O motors which had sales revenue of $211 billion in the year 2009.
Small Business Management 6th Edition by Timothy Hatten
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