The paper 'Competitive Strategies Applied by Growing Businesses" is a great example of a business research proposal. The growth and survival of any business today depend on the selection and adoption of competitive strategies. Excellent performance may be realized in a competitive business environment only if a firm pursues the appropriate strategies. This study, therefore, aims at determining the competitive strategies applied by an instant growing business to achieve a competitive advantage. The study variables include first, cost leadership strategy, where firms sell goods at a lower cost while targeting a broad market.
Lower cost structure may be achieved by reducing the cost of production, low priced raw material purchase and use of cheaper labor. Secondly, the differentiation strategy where firms offer value-added product services to their customers. Lastly, focus strategy where firm targets a specific market to meet the customer's needs and preference hence develop customer loyalty. This study will utilize a descriptive research design because Saunder et al. , (2009) says that descriptive research design portrays an accurate profile of the situation. It offers to the researcher a described relevant aspect of the phenomena as well as presents data in a meaningful form that help researchers to understand the characteristic of a group in a given situation.
The data collection methods that will be utilized include both the structured and unstructured questionnaires that will be posted to different respondents. The questionnaires will be complemented by an interview which will gather more information about the topic. 1.2 Statement of the problem In the last two decades, there has been a huge growth in both small and medium businesses in various main towns and its surrounding.
The increasing population, change in consumer preferences, improved purchasing power, increased local production and manufacturing of goods and services are some of the factors affecting the business sub-sector. According to Miner and Appleton (2008), this trend is expected to increase further as innovation and entrepreneurship is being encouraged in the society and hence result in intense competition. How to survive in the present changing competitive environment remains a key question for many ventures. Therefore, this study seeks to evaluate competitive strategies applied by instantly growing business to gain a competitive advantage in the dynamic business environment.
John, A., & Scholes, P., 2011, Business Strategies for Small and Growing Business Organization. New Delhi: Response Books.
Miner, J. T., & Appleton, L., 2008, Proposal planning & writing. Westport, Conn: Greenwood Press.
Porter, T., 2010, Proven proposal strategies to win more business. Chicago, IL: Upstart Pub. Co.
Saunder et al., (2009) The McGraw-Hill handbook of more business letters. New York: McGraw-Hill.