Identify alternative approaches

What are the different ways to work with other organisations?

To be successful it is vital that a business provides value to the customer, is competitive and differentiated in the market, and possesses core competencies. There are a number of alternative approaches for SMEs to consider when endeavouring to reach this position. An understanding and analysis of the value chain can enable the company to build differentiation and value into their business proposition. One option available is to outsource manufacturing or R&D. Small and medium size enterprises have often been able to realise a better opportunity to compete with incumbent large competitors by developing a new business model. Another route to differentiation and competitive advantage is to become a niche player.

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Related stories

Being a niche player
Subcontracting the manufacturing process

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