Geography & History Notes | KCSE, NECTA, ZIMSEC & GCSE

 1. Most small business owners are willing to try new approaches to make their businesses more successful. 2. Small businesses understand customer needs, identify new opportunities and fix problems quickly and efficiently. 3. Small businesses can quickly implement new business practices and adapt to changing market conditions. 4. When pursuing new opportunities, many small business entrepreneurs experiment and improvise. They accept failure as part of the path to success. 5. Small businesses are adaptive at doing with less. The resource constraints lead to their innovative mindset. 6. Small businesses traditionally rely on strong social networks to share information needed for innovative thinking.

  1. Expect change; There is an increase in the velocity, complexity and unpredictability of change. This increase creates a new hyper-competitive international environment. 2. Implement new rules. This involves going beyond the existing parameters of competition to achieve competitive advantages and profits. 3. Develop innovative strategies. Develop conscious strategies and mechanisms to promote consistent innovation (innovative all the time). 4. Avoiding barriers. This involves dissolving internal barriers separate people and departments. 5. Be fast. Implementation needs to be fast. It is better to be 80% right and quick than 100% right and late. 6. Think like an entrepreneur. Entrepreneurs make things happen and allow themselves to fail and improve. 7. Think global. The fastest growing markets may be at the international level, for example, companies can shop in a single global supermarket for just about everything. 8. Always be a learner. One should have the ability to learn fa...