For this reason, one does not necessarily need a lot of funds to open up a store that could become Walmart's competition.
For example, the small grocery store may be located in the center of a small town where larger grocery stores are only available to reach by a long car drive. This applies particularly to small retailers which operate only a few or even one local store only, yet still manage to compete in the market with Walmart due to geographical factors. However, as it turns out, both in the US and globally, there are people who have the money to do so.Įven though the costs of developing a brand-seeking are moderate or high, the costs of doing business are low. Therefore, opening a chain such as Walmart would require the necessary funds to make an investment. Lifestyle and Technological Environmentįirst of all, the costs of developing a new brand are moderate to high.Business Considerations from Globalisation.
Risks and Rewards of Running a Business.Evaluating Business Success Based on Objectives.
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