Small Business – Speaking Part 3 Follow Up Questions
February 29, 2020
Do many people know about this company? Yes, in my hometown many people know about this company. But as my friend tells me that they have business in all parts of India and abroad, so I guess many people know about this company even outside my hometown.
What do you think can be considered as emerging industries? Well I guess, emerging industries are those industries which are based on new products or new ideas which are in the early stages of their development. These industries are also called sunrise industries. These industries are mostly related to information technology, wellness, hospitality and knowledge.
Is market research important for export business? Yes, market research is very important for export business. If a person does not do any research then the whole thing can go waste and the person can end up suffering huge losses.
In business, do companies need to be competitive? Yes, in business companies need to be competitive. If they are not competitive, they will die. If their products do not match up with similar products of other industries, then they will not have any sale and ultimately will not be able to survive.
Should companies promote competition and why? Yes, companies should promote competition, because if they will not do so then they will not match their rival companies and will ultimately not be able to thrive.
What should be the government role in how small businesses are run? The government should promote small businesses, because today many multinationa companies are coming up, and if small businesses are not promoted and supported by the governments then they will ultimately disappear.
How can businesses benefit the community in which they are located? Businesses can benefit the community in many ways. Firstly, they can employ people in the local community are. Then they can take steps to save the environment. In this way they can fulfil their social and environmental responsibility.
What kind of small businesses are most popular? All kinds of small businesses are popular, such as related to clothes, toys, the food industry and many more.
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