AN EVALUATION TO DETERMINE SOLUTIONS FOR SMALL COMPANIES IN THE SERVICE BUSINESS AND INDUSTRIAL VENTURES TO GAIN COMPETITIVE ADVANTAGE IN CHINA.

Abstract

This study analysed the strategies employed by Chinese small service organizations in attaining competitive advantage. Principally, it sought to document the reasons behind the successes and growth of the businesses. Data was supplied from a variety of small service providers in the most inhabited towns in China. Strategies regarding the adoption of technology, expenditures, innovation, and ties with customers were the subjects in the research. Based on the report, businesses relying on online and technology-based answers are more influential in consumers. Distinguishing themselves from other businesses, they launched new products and services. Beyond that, maintaining an appearance in the market was attained through the building of ties with clients. Fast and efficient operation also improved the economic viability and profitability of the project in the longer term. In the case where their colleagues employed comprehensive plans, directors whose strategies were locally designed to suit customer needs performed better. Moreover, using regional resources and communication with other small organizations, the report documented that the businesses could attain competitive advantage. These businesses exhibited remarkable adaptability during uncertain marketplace conditions with strategies that enabled them to remain flexible. Innovative thinking, technology implementation, customer focus, cost control, and local market understanding were the most efficient means through which Chinese small service organizations could attain competitive advantage, the report indicated. The report's findings provided the government and entrepreneurs with practicable recommendations for the growth of the small businesses. Current research contributed to the literature regarding competition strategies in developing economies through the clarification of applicable methods that could be employed in similar economic and cultural conditions.