Premium Essay

Fleet Sheet

In: Business and Management

Submitted By Stock5411
Words 1428
Pages 6
Question 1
In Eastern Europe, the small business sector was the most successful entity of the movement a socialist economy to a market economy. The movement in the privatization process led to auctions of small businesses and the restitution of property in these countries. This resulted in the restoration of some small family businesses. Small businesses, however, came with several issues that made it difficult for other emerging small business to be established. Two factors that made it difficult for entrepreneurs to keep their business running was increasingly higher inflation rates and wage rates. This made it a necessity for many small business owners, especially at first, to have second and third jobs in order to keep the business afloat. Since it was so difficult to keep up with these demands, it forced businesses to operate using borderline illegal practices. It was only through these practices that many small businesses were able to operate with all the regulations and legal procedures that the company had to face. They also needed to avoid the mafia or corrupt officials as it became very difficult to work out a secure contract for lease of property, and the banking system was not equipped to take care of the needs of small businesses.
Another area of concern for small businesses was lack of experience. Since most, if not all of their lives in Eastern Europe, people lived in a socialist economy, there was no training of entrepreneurship. To fix this issue, many organizations from the West sent consultants, such as the M.B.A. Enterprise Corps, to assist with the revitalization of the economy as a free market running private and small businesses.
Question 2
Strengths
* Revenue has grown every year showing the growth of the company in the market. * Pricing strategy allows for more people to afford their product. * Professional work is…...

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