Extended Definition Student name Institution Date Any business and company aim to make a profit and expand their financial territories. The more a business develops there is a gradual change in methods it uses to make the profits and manage them. The difference is brought about by the increase in the profits and the number of employees in the organization. There are huge differences that always exist between the small firms and the big companies as they carry out their daily routines. The paper defines and analyses the differences that are observable as the small businesses and the big companies carry out their daily activities in making profits. Specialization is an aspect that a company adopts as it develops as it grows each day. Small business tends to venture into different activities as it starts to they will have confidence in it and purchase hence more money in return. In conclusion it is clear that the company’s strategies of making money mostly depends on the target consumer. The large companies have a precise and more reliable way of attracting the consumer. The larger companies are better and more advantaged since all strategies must have a cost and they are in a position to cater for the cost. This constantly increases their ability to make more profit. Reference Sibirskaya E. Stroeva O. & Simonova E. (2015). The Characteristic of the Institutional and Organizational Environment of Small Innovative and Big Business Cooperation. Procedia Economics and Finance 27 507-515. Storey D. J. (2016). Understanding the small business sector. Routledge. Yoon E. & Hughes S. (2016). Big Companies Should Collaborate with Startups. Harvard Business Review. Retrieved from https://hbr. org/2016/02/big-companies-shouldcollaborate-with-startups.
Extended Defination _ Business, how does big company and small business different, how does they make money, exapmle: bmw, small dealers, mcdonald, local restaurant