Which of the following statements accurately describes the difference between small businesses and larger firms?Multiple ChoiceUnlike small businesses, larger firms are not equipped to focus on mass markets or wide market segments.Small businesses can develop and introduce a new product in a much shorter time than do large ones.Small businesses require more money to start and maintain than do large ones.Decisions can be made and executed more quickly in larger firms than in small firms.

Multiple Choice QuestionComparing the decision-making process between large and small firms, which of the following statements is accurate?Multiple choice question.Small businesses usually have only one layer of management that helps speed decision making.Small businesses often have multiple management layers that makes decision making a slow process.Large businesses usually have just one layer of management and, thus, can speed decision making in the organization.Large businesses can most rapidly respond to decisions of the organization.

Small businesses are in a stronger position to make marketing mix changes because:Group of answer choicesthey work within a tighter bureaucratic framework than large companies.they have more resources to work with than large companiesthey are more nimble and flexible than large companies.they are less sensitive to changing trends than large companies. PreviousNext

Small businesses are particularly suited to abiding by the marketing concept because:Group of answer choicesthey have more resources to work with than large companies.they are less environmentally conscious than large companies.they work within a tighter bureaucratic framework than large companies.they are closer to the customer than are large companies. PreviousNext

Multiple Select QuestionSelect all that applyWhich two statements are accurate regarding the role of small businesses in the U.S. economy?Multiple select question.More than 99 percent of U.S. firms are classified as small businesses.Small businesses employ nearly half of all private workers.Approximately 50 percent of all U.S. firms are small businesses.Small firms represent approximately 25 percent of exported goods from the United States.

All competitive advantages do not accrue to large sized firms. A major advantage of smaller firms is that theya.Have more loyal and diverse workforcesb.Are more likely to have organizational slackc.Can launch competitive actions more quicklyd.Can wait for larger firms to make mistakes in introducing innovative products