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CHAPTER I

INTRODUCTION

The Background And Its Setting

As early as 14th century, a grocer was a dealer in comestible dry goods such as spices,

peppers, sugar and (later) cocoa, tea and coffee. These items were bought in bulk, hence the term

Grocer from the French “grosser” meaning wholesaler. Today, the grocer deals in a wide range

of staple food-stuff including such perishables as meats and dairy products. Such goods are,

hence, groceries. The key process of the grocery and its concept involves simple production and

distribution of goods and being considered as business.

Business is everywhere and everyone is connected with, or engulfed by the business. The

food we eat, the cloth we wear, the car we ride, the television we watch are produced,

distributed, and sold by the business. To be able to acquire these things, we earn money working

mainly in a business. Thus a business is an organization engaged in producing or distributing

goods and rendering services to make realized economic return for the business known as profit

or income.

According to 2016 statistics published by the Small Business Administration (SBA),

about 78% of small business start-ups survive the first year and about half of all employer

establishments survive at least five years. A third survives ten years or more. This is a far cry

from the previous long-held belief that 50 percent of businesses fail in the first year and 95

percent fail within five years. Better success rates notwithstanding, a significant percentage of
new businesses do fail. Expert opinions abound about what a business owner should and

shouldn't do to make a business successful.

The reason businesses are important is that they are a vehicle for the exchange of goods

and services. It is an economic institution as it is engaged in the production and distribution of

products in order to generate profit or income and acquire health. Businesses are very important

part of the circular flow of any market. They buy resources from households in the resource

market and sell to households in the product market. This makes them indispensable to the

economy. It helps economy grow through innovation of various sorts considering the application

of business strategy.

Thus, the performance of the mini grocery is also dependent on its business strategy and

how effectively the strategy is implemented by the business owner. Business strategy plays a

vital role for the success of the business. This gives direction for the achieving business goals

and objectives and has a great effect on its performance. Business owners use various types of

business strategies. A business strategy establishes lines of communication and allows

employees to understand information priority, the flow of information in and out of the business

and how information is disseminated internally. Considering the use of different types of

business strategies, the researcher embarked this study so as to see the significant effect of this

business strategy to the performance of mini groceries.


Theoretical Framework

It needs also to be emphasized that, when it comes to strategy formulation, the business

owner or manager plays an important role. The business owner or manager’s competitive

development and personal goals therefore can help determine the understanding and use of

strategic management and planning. As a result, when a company develops and implements

effective long-term strategies, it could impact on the competitive positioning of that company on

the market. Considering the different types of business strategies such as growth strategy,

acquisition strategy, price strategy and product strategy have an effect to the success of the

business.

Strategy is a set of guidelines created to reach the set goals and objectives of the mini

grocery. Strategies can range from annual budget to individual marketing strategies for the

release of new products. Without coherent strategy, mini grocery has no road to follow when

pursuing opportunities and running daily operation. The consequences of not having

comprehensive business strategies can be served.

To understand the effect of business strategies to the performance of business, the

researcher considered the word “performance of an organization is dependent on the business

strategy” as adopted and implemented by (Kotey and Meredith, 1997). Findings by a number of

researchers have also established relationships between business strategy and organizational

performance by (Covin and Slevin, 1986);( Delmar, Davidsson, and Gartner, 2003) and

(Yasuda, 2005). (Miller and Friesen, 1983) contend that the most performing organizations are

those whose strategies tend to initiate action through innovation in areas such as product
development and customer service, instead of imitating what other organizations are already

doing on the market.

In this study, the researchers consider the different business strategies which they believe

that this can give significance for the mini groceries. As such, this study adopted the four

business strategies which include growth strategies, acquisition strategy, price strategy and

product strategy (smallbusiness.chrom.com/different-types-business-strategies-4634.html).

The researchers, however, believe that other factors could intervene along the way. It is

assumed that even if the owners of the mini grocery adopt the business strategies, there may be

other considerations that impinge on the relationship between the business strategies and the

performance of mini groceries in Centro, Gonzaga, Cagayan.

Conceptual Framework

Business Strategies Performance of


the Business
a. Growth Strategy
b. Acquisition a. Net Income
Strategy
c. Price Strategy
d. Product Strategy

Profile of the Business Owners


Figure 1. A paradigm showing the relationship between business strategies and the performance

of mini groceries in Centro, Gonzaga, Cagayan.

Another factor could be the profile of the business owners. Those owners of the mini groceries

who have been long in the service, which have more training and with higher level of education

could be a greater advantage than those who have limited experience and lower education

attainment.

Statement of the Problem

This study aimed to determine and identify the business strategies practiced by the business

owners of mini groceries in Centro, Gonzaga, Cagayan and its correlation to business

performance.

Specifically, the study sought to find the answer to the following problems:

I. What is the profile of the business owners in terms of:

A. PERSONAL

a. Age

b. Sex: __Male __Female

c. Civil Status: __Single __Married __Widowed


B. PROFESSIONAL

d. Educational Attainment

__Elementary Undergraduate

__Elementary Graduate

__High Scholl Undergraduate

__High School Graduate

__College Undergraduate

__College Graduate

__M.A. Undergraduate

__M.A. Graduate

__PhD Undergraduate

__PhD Graduate

II. How do business owners assessed business performance with the use of strategies

namely:

a. Growth strategy

b. Acquisition strategy

c. Price strategy

d. Product strategy

III. Is there a significant relationship between the business strategies practiced by the

business owners ?

IV. Is there a correlation between the performance of the business and the profile of the

owner?
Research Hypothesis

1. There is no significant relationship between the relationship of business strategies

practiced and performance of the business.

2. There is no correlation between the performance of the business and the profile of the

owner.

Significance of the Study

For Future Businessman

The study will serve as a basis whether the business will implement to determine how far their

knowledge is and how consistent they are as a future businessman in the future on how to build a

business someday.

For Consumers

The study will serve as their basis whether the reliable intact store will implement the different

service minded- aspects and better source for them to reach or to achieve a better business in the

future.

For Researchers

For them to know how they are going to manage a business someday. That they should also

discover and to be aware of what is happening within the society that has been a big change to

our community. This will also serve as their basis in collaborating problems that will resolve

which were encountered by the different marketing management people which is related to

business.
For Future Researchers

It will be a great help to them in finding more ideas to the different studies. It will also serve as

their basis to improve the topic.

For Students

Students who want to put a business someday will have an advance knowledge for such

innovation for this business.

For Community

They are being benefited because this type of research can tell them the innovations that

perceived by the Mini Groceries in their place.

Scope And Delimitation of The Study

This research covered the Centro of Gonzaga Cagayan. In the process, the research covered 13

Mini Groceries in the Market of Centro Gonzaga Cagayan. The researchers conducted and

floated questionnaires on September 23, 2017.

Operational Definition of Terms

ACCRUED- To increase in value or amount gradually as time passes: to grow or build up

slowly.

COMPASSIONATE- Feeling or showing concern for someone who is sick and poor.
CULTIVATE- To grow or raise something under conditions that you can control.

COMPLIANCE- The act or process of doing what you have been asked or ordered to do.

INVESTMENT- The outlay of money.

MINI GROCERY- Is a retail store that primarily sells food. A grocer is a bulk seller of food.

-Often offer non-perishable food that is packaged in bottles, boxes, and cans.

Some also have bakeries, butchers, delis, and fresh produce.

INNOVATION- the process of translating an idea or invention into a good or service that

creates value or for which customers will pay.

PARTNERSHIP- A type of business organization in which two or more individual’s pool

money, skills, and other resources, and share profit and loss in accordance with terms of the

partnership agreement.

SOLE PROPRIETORSHIP- Is the simplest business from under which one can operate a

business.

BUSINESS- An organization or economics system where goods and services are exchanged for

one another or for money.

NET INCOME- is a company total earnings or profit. Net income is calculated by taking

revenues and subtracting the costs of doing business such as depreciation, interest, taxes, and

other expenses.

INCOME- money received, especially on a regular basis, for work or through investments.
CONSUMER- A consumer is a person or organization that uses economic services or

commodities. In economic systems consumers are utilities expressed in the decision to trade or

not.

BUSINESS STRATEGY- Is the art, science, and craft of formulating, implementing and

evaluating cross-functional decisions that will enable an organization to achieve its long-term

objectives.

GROWTH STRATEGY- strategy aimed at winning larger market share, even at the expense of

short-term earnings. Four broad growth strategies are diversification, product development,

market penetration, and market development.

ACQUISITION STRATEGY- is a corporate action in which a company buys most, if not all,

of another firm`s ownership stakes to assume control of it.

PRODUCT STRATEGY- is the foundation of a product life cycle and the execution plan for

further development.

PRICE STRATEGY- a pricing strategy takes into account segments, ability to pay, market

conditions, competitor actions, trade margins and input costs, amongst other.

QUANTITATIVE METHODS- Emphasize objective measurements and the statistical,

mathematical, or numerical analysis of data collected through poles, questionnaires, and surveys

, or by manipulating pre-existing statistical data using computational technique.


QUALITATIVE METHODS- Is a method of inquiry employed in many different academic

disciplines, including in the social sciences and natural sciences, but also in non-academic

contexts including market research, business, and service demonstrations by non-profits .


CHAPTER II

REVIEW OF RELATED LITERATURE AND STUDIES

This chapter includes the ideas, finishing thesis, generalization or conclusions,

methodologies and others. Those that were included in this chapter helps in familiarizing

information that are relevant and similar to the present study.

Related Literature

To survive in a competitive business environment every company must operate in

conditions of performance. Over time approaches of business performance have seen various

valences differentiated both according to the importance given at the moment to the information

needs of different partners in business and according to the modern method which are meant to

demonstrate and validate by using their practical relevance exercise overtime, referring to the

performances demonstrated in real terms of competitiveness and sustainable development. The

aim this paper is to synthesize the main approaches regarding the business performances,

underlining the modern approaches referring to the perceptions of business performances for

business owners but also for the other stakeholders.

All the stakeholders have their own interests that need to be looked after by the business

owners/managers. It is, thus, felt important about the way the managers must act so that the

interest of the stakeholders is protected and also the interest of the real owners- the shareholder –

is enhanced not by means of “profit maximisation” but by way of “wealth maximisation” (Anand

and Grover, 2004).


It needs also to be emphasized that, when it comes to strategy formulation, the business

owner or manager plays an important role (Philipsen and Kemp, 2003). The owner/manager’s

competitive development and personal goals therefore can help determine the understanding and

use of strategic management and planning (Postma and Zwart, 2001). A meta-analysis of

existing studies by (Schwenk and Shrader, 1993) has indicated a positive linkage between

strategy and growth.

(Porter, 1991) has also observed that strategy leads to superior and sustainable

performance. As a result, when a company develops and implements effective long-term

strategies, it could impact on the competitive positioning of that company on the market.

Organizational changes aimed at strengthening new product planning to better

marketing research to evaluate market needs and prospects and improved screening and

evaluation of ideas and products (Robert S.).

Review of Related Studies

Small companies will often use a product differentiation strategy when they have a

competitive advantage, such as superior quality or service. For example, a small manufacturer or

air purifiers may set themselves apart from competitors with their superior engineering design.

Obviously, companies use a product differentiation strategy to set themselves apart from key

competitors. However, a product differentiation strategy can also help a company build brand

loyalty, according to the article "Porter's Generic Strategies".

According to the basic economic laws of supply and demand, an increased price can

decrease a demand. However, depending on the elasticity of demand, this can in turn increase or

decrease revenues. (Marn and Rosiello, 1992) make the importance of pricing quite clear in
finding that holding other factors steady, a single percent increase in price can mean an 11.1

percent increase in operating profitability, while a single percent increase in volume will only

raise profits by 3.3 percent.

(Nagle and Holden , 2002) define pricing strategy as coordination of interrelated

marketing, competitive, and financial decisions to maximize the ability to set prices profitably.

Review of Internet Studies

For those grocery chains that continue to cater to a more wide variety of costumers, there

are a number of innovations that are currently being used to enhance the retail experience,

(Katherine P., 2015).

Understanding the customer’s preferences and needs are very important whether you are

selling a product or offering a service. This is because customers are the determiners of how

successful a company becomes. You can only satisfy your customer’s need if you get to

understand them to an extent that you can anticipate their needs and deliver beyond their

expectations according to (Amy Clark, 2015)

(Miller and Friesen , 1983) contend that the most performing organizations are those

whose strategies tend to initiate action through innovation in areas such as product development

and customer service, instead of imitating what other organizations are already doing on the

market.

(Zeithmal and Fry, 1984) also specify some of the performance indicators as

improvement in current products to meet changing customer taste, needs and requirements,
product development with emphases on product quality, increase in market and subsequently,

financial performance.

The word strategy has several perspectives to it and therefore does not have a single

definition. In its broad perspective, strategy can be considered as a coordinated plan or outline

for making decisions and carrying out the activities of a firm, using available resources to create

value and to achieve organizational goals, particularly in the long term. (Mintzberg, 1990)

identifies five other perspectives within which strategy has been defined. Reference is made to

(Chandler, 1962) who defines strategy as a plan of action which are taken to realize the long-

term organizational goals. In another vein, strategy deals with the policies and key management

decisions which are directed at exerting major impacts on an organization's financial

performance (Buzezell and Gale, 1997).


CHAPTER III

RESEARCH METHODOLOGY

This chapter presents a description of a research design selection and description of

respondents, research instruments, data collection procedures, statistical treatment will be used

by the researchers.

Research Design

Descriptive survey research method was used in the study with the structured interview

as its main tool. As (Polit & Hungler , 1999) define it, this type of research describes what exists

and may help to uncover new facts and meaning. The purpose of descriptive research is to

observe, describe and document aspects of a situation as it naturally occurs.

In this study, the used of the method involves determining the status of the business (mini

grocery) in terms of qualifications/ educational attainments of the business owner, business site

and business income. Likewise it also defines the business strategies practiced by the business

owner that affects the performance of the business in Centro, Gonzaga, Cagayan.

The descriptive method is a study designed to depict the participants in an accurate way.

More simply put, descriptive research is all about describing people who take part in the study.
The two ways a researcher can go about doing a descriptive research project, and they

are:

 Observational, defined as a method of viewing and recording the participant.

 Survey, defined as a brief interview discussion with an individual about specific

topic.

Locale of the Study

The setting of the study was at municipality of Centro, Gonzaga, Cagayan of Mini

Groceries.

Respondents and the Sampling Procedures

As the objective of the study is to assess the status of the business (mini grocery) in terms

of qualifications/ educational attainments of the business owner, business site and business

income and also the different business strategies practiced and used by the business owner are

the major sources of the data.

The respondents of the study would be all the business owners of smini groceries in

Centro, Gonzaga, Cagayan. The researchers consider all business owners of mini groceries in

Centro, Gonzaga, Cagayan comprising of 13 members, male and female. A set of questionnaires
will be given to 13 members selected businessman of mini groceries of Centro, Gonzaga,

Cagayan. The distribution of sample per group is shown in the table.

Research Instruments

To provide and gather as much informative and relative evaluation descriptive method

will be used. This method includes the use of questionnaires and surveys. The tools will use by

the researchers will be discuss. A questionnaire will use as the main data gathering instrument

for this study. It will be divided into two main sections: the profile and the questionnaire proper,

the profile of the respondents contains characteristics such as age, gender, civil status,

educational qualification/attainment. Otherwise, the questionnaire proper contains information

related to the business strategies.

The study will be conducted within the mini groceries of the Municipality of Gonzaga,

Cagayan. Namely the different mini groceries we will be conducting were: Rebodulla Mini

Grocery Store, Angeles Mini Grocery, Sioquin Mini Grocery, Leonador Mini Grocery, Torres

Mini Grocery, Alibania Mini Grocery, Castillo Mini Grocery, Nojadera Mini Grocery, Dancel

Mini Grocery, Saliganan Mini Grocery, Saribay Mini Grocery, and Damasco Mini Grocery.
Data Gathering Procedures

Prior to the conduct of the study, permission was sought from the business owners of the

different mini groceries in Centro, Gonzaga, Cagayan.

The questionnaires were personally administered by the researcher to the business owners

of mini groceries in Centro, Gonzaga, Cagayan. They were encouraged to respond to the

questionnaire as it was only 2 (two) pages instrument. Queries on some of the items of the

questionnaire were immediately addressed to attain validity and veracity of information.

To further gather and probe data, an informal interview was conducted to the business owners.

Information that was not be captured by the questionnaires surfaced during the sessions.

Analysis of Data

Gathered data was coded based on the nature of the data and the scale to be used to

measure them. Tha data was encoded using the Microsoft Excel software. The data file was

transported into Mega Statistical software tested at 0.05 level of significance.

Descriptive characteristics of the respondents gathered were analyzed using the

descriptive statistic (frequency count, rank, mean and standard deviation). The weighted mean

was computed to ascertain the mean responses on the scaled statements. The weighted means

was interpreted arbitrarily using the following as guide:


Assessment on the Business Strategies

1.00-1.66 = Never

1.67-2.33 = Sometimes

2.34-3.00 = Frequently

To compare the assessments of the business strategies practiced by the different business

owners in Centro, Gonzaga, Cagayan, the t- test for independent or uncorrelated groups was

used.

All hypotheses were tested at 0.05 level of significance.


CHAPTER IV

DISCUSSION OF FINDINGS

Teachers’ profile

Age

Table 1 shows the distribution of teachers in terms of age. As can be gleaned

from the table, 1 or 7.69 percent belong to the ages ranging from 26-30 years, 3 or

23.08 percent belong to the ages ranging 31-35 and 36-40 years and 2 or 15.38 percent

falls from the age bracket of 41-50. It shows also from the table that 2 or 15.08 percent

belong to the ages ranging 46-50 and 51-55.

The mean of the age of the business owner is 40.69, which means that they are

belong in onset of middle age. This implies those business owners of the mini

groceries are considerably young in engaging business or entrepreneurial activities.

Table 1. Distribution of Business Owners in term of age

Age Frequency (n=13) Percentage


26-30 1 7.69%
31-35 3 23.08%
36-40 3 23.08%
41-45 2 15.38%
46-50 2 15.38%
51-55 2 15.38%
Mean 40.69
SD 42.62
Distribution of business owners in term of sex is presented on table 2. Evidently, mini

grocery business is female dominated businessman. This finding means that female are better

calculated risk takers, more ambitious, more likely to take long-term view for the business and

reinvest business profit in order to generate steady and profitable growth for the business.

According to the Centre of Entrepreneurship’s research, women have the edge: 87% see

themselves as financial risk takers, compared to 73% of men while 80% of women say they are

likely to see opportunities where others see risk, compare to 67% of men.

Sex

Table 2. Distribution of Business Owners in term of sex

Sex Frequency (n=13) Percentage Rank


Male 0 0 2
Female 13 100 1

Civil Status

Distribution of business owners in term of civil status is presented on table 3. Evidently,

the business owners of all the mini groceries are married. And because they have gained spots in

the workforce, they used commitment as a tool for economic stability. They attained the ability

to financially support their families which has brought greater social and political freedom.

Table 3. Distribution of Business Owners in term of civil status

Civil Status Frequency (n=13) Percentage Rank


Single 0 0 2
Married 13 100 1
Widowed 0 0 2
Educational Attainment

The table shows

Table 3. Distribution of Business Owners in term of educational attainment

Level of Education Frequency (n=13) Percentage Rank


Elementary Undergraduate 0 0%

Elementary Graduate 0 0%

High Scholl Undergraduate 0 0%

High School Graduate 0 0%

College Undergraduate 13 100%

College Graduate 0 0%

M.A. Undergraduate 0 0%

M.A. Graduate 0 0%

PhD Undergraduate 0 0%

PhD Graduate 0 0%

Growth Strategy

The table 5 shows the growth strategy practiced by the business owners of mini groceries.

Business owners frequently consider the needs of customers (3); identify their ideal customers

(2.92); sell new products in the market (2.77) and establish a value proposition and verify
revenue stream (2.46). In totality, business owners frequently employ Growth Strategy with an

overall weighted mean of 2.72

This finding implies that business owners consider the use of different marketing

strategies and want to emphasize the satisfactions of customers in terms of the products.

Growth Strategy Weighted Mean Descriptive Value


1. Business owners sell new
products in the market 2.77 Frequently
2. Business owners consider
the needs of customers in
selling the products 3 Frequently
3. Business Owners establish a
value proposition 2.46 Frequently
4. Business Owners verify
revenue streams 2.46 Frequently
5. Business Owners identify
my ideal customer 2.92 Frequently
Overall Weighted Mean 2.72 Frequently

Legend: 1.00-1.66=Never
1.67-2.33=Sometimes
2.34-3.00=Frequently

Product Strategy

Apparent in table 6 revealed that business owners frequently separate products that are

nearly expired (2.77); display products that are rare & unfamiliar in from of the establishment

(2.77). The business owners also frequently consider the needs of diverse customers (2.77);

increase volume of products that are seasonal and based on trends (2.69) and avoid giving goods

as a change to customers (2.54). In totality, business owners frequently employ product strategy
with an overall weighted mean of 2.71. This finding means that business owners consider diverse

customers with different needs.

The manufacturer, importation, exportation, sales, offering sales, distribution or transfer

of any foods, drug, device or cosmetics that is adulterated or mislabelled and the sale or offering

for sale of any foods, drugs and device beyond its expiration or expiry date are govern and

concern under Republic Act No. 7394 (Consumer Act of the Philippines) under Article 40.

Product Strategy Weighted Mean Descriptive Value


1. Business Owners separate
products that are nearly
expired 2.77 Frequently
2. Business Owners display
products that are rare &
unfamiliar in front of the
establishment 2.77 Frequently
3. Business Owners avoid
giving goods as a change to
customers 2.54 Frequently
4. Business Owners consider
the needs of diverse buyers 2.77 Frequently
5. Business Owners increase
volume of products that are
seasonal and based on trends. 2.69 Frequently
Overall Weighted Mean 2.71 Frequently

Legend: 1.00-1.66=Never
1.67-2.33=Sometimes
2.34-3.00=Frequently

Price Strategy

The table show that the business owners frequently avoid misleading of prices to

customers (2.85); buy inventories form wholesalers (2.69); encourage customers to buy in bulk
(2.62); offer low price to their customers (2.54) and give discount to their loyal customers (2.38).

In totality, business owners frequently employ price strategy with an overall weighted mean of

2.62.

Price Strategy Weighted Mean Descriptive Value


1. Business Owners offer low
price to my customers 2.54 Frequently
2. Business Owners give
discount to my loyal
customers 2.38 Frequently
3. Business Owners buy
inventories from wholesalers. 2.69 Frequently
4. Business Owners encourage
customers to buy in bulk. 2.62 Frequently
5. Business Owners avoid
misleading of prices to
customers. 2.85 Frequently
Overall Weighted Mean 2.62 Frequently

Legend: 1.00-1.66=Never
1.67-2.33=Sometimes
2.34-3.00=Frequently

Acquisition Strategy

The table shows that the business owners frequently consider the business’ target

performance in buying products (2.77); consider the marketability of products before buying

(2.77); buy inventories based on the purchasing powers of customers (2.69); buy product on cash

basis (2.69) and also the business owners emphasize that the products are procured based on the

list made (2.62). In totality, business owners frequently employ acquisition strategy with an

overall weighted mean of 2.71.

Acquisition Strategy Weighted Mean Descriptive Value


1. Business Owners consider
the business' target 2.77 Frequently
performance in buying the
products
2. Business Owners buy
inventories based on the
purchasing power of
customers 2.69 Frequently
3. Products are procured based
on the list made. 2.62 Frequently
4. Business Owners consider
the marketability of products
before buying. 2.77 Frequently
5. Business Owners buy
products on cash basis. 2.69 Frequently
Overall Weighted Mean 2.71 Frequently

Legend: 1.00-1.66=Never
1.67-2.33=Sometimes
2.34-3.00=Frequently

Monthly Income

The table revealed that business owners earned monthly income ranging from 15,001 to

20,000 with a percentage of 53.85. It also shows that business owners earned a monthly income

ranging from 10,001 to 15,000 with a percentage of 23.08. Likewise those business owners that

earned a monthly income ranging from 20,001 to 25,000 with a percentage of 23.08.

Table 9. Distribution of Business Owners in term of monthly income

Monthly Income Frequency (n=13) Percentage Rank


10,001-15,000 3 23.08 2
15,001-20,000 7 53.85 1
20,001-25,000 3 23.08 2

Chapter 5

SUMMARY, CONCLUSION AND RECOMMENDATION

Summary

Business is everywhere and everyone is connected with, or engulfed by the business. The

food we eat, the cloth we wear, the car we ride, the television we watch are produced,

distributed, and sold by the business. To be able to acquire these things, we earn money working

mainly in a business. Thus a business is an organization engaged in producing or distributing

goods and rendering services to make realized economic return for the business known as profit

or income.

According to 2016 statistics published by the Small Business Administration (SBA),

about 78% of small business start-ups survive the first year and about half of all employer

establishments survive at least five years. A third survives ten years or more. This is a far cry

from the previous long-held belief that 50 percent of businesses fail in the first year and 95

percent fail within five years. Better success rates notwithstanding, a significant percentage of
new businesses do fail. Expert opinions abound about what a business owner should and

shouldn't do to make a business successful.

The reason

businesses are important is that they are a vehicle for the exchange of goods and services. It is an

economic institution as it is engaged in the production and distribution of products in order to

generate profit or income and acquire health. Businesses are very important part of the circular

flow of any market.

Thus, the

performance of the mini grocery is also dependent on its business strategy and how effectively

the strategy is implemented by the business owner. Business strategy plays a vital role for the

success of the business. This gives direction for the achieving business goals and objectives and

has a great effect on its performance. Business owners use various types of business strategies. A

business strategy establishes lines of communication and allows employees to understand

information priority, the flow of information in and out of the business and how information is

disseminated internally.

Conclusion

In consideration of the foregoing findings, the researchers hereby conclude that female

business owners demonstrate better financial risk takers in terms of business or entrepreneurial

activities. Furthermore, they are more ambitious, more likely to take long-term view for the

business and have their smooth relationship to customers.


Recommendation

In consideration of the foregoing findings and conclusion, the following are recommended:

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