Question

Discuss how small businesses and not-for-profit organizations can obtain market insights economically and describe the decisions involved or questions answered when designing a sample.

Answer 1

Small businesses and non-profit Organizations are by nature those entities which are very much connected to the grass root of a society. The small businesses are usually set up by entrepreneurs who are not economically very efficient. These economically not very efficient entrepreneurs come from the middle class or the lower middle class of the society. Same is the case with the non-profit organizations. The non-profit organizations are usually operating in the areas where economically vulnerable section of the society lives. Therefore, such non-profit organizations are small businesses are always in direct communication with the poor people, or with those people who shape the economies of the society. Such organizations and small business operate on the ground and are therefore more prone to the market insights and the real need to the society. It is therefore seen that most of the small businesses and non-profit organizations always survive, as they understand and work on the real economics of the society on the ground.

Small businesses or non-profit organizations preliminary develop in a society in the basis of the needs of the society. This is a very critical distinction between the small businesses and the big businesses. The big businesses develop and grow with an aim to provide new desires and new want for the society, however the small businesses grow with the base of the need of the society. Same is the case with the non-profit organizations. Their first decision is always, what does the society need. Then they work on how they can organize or create a small business that could satisfy or meet those needs. While on the process of organizing such a business, the organizations fund out what processes they need to implement to set up the small business and the non-profit organizations. Once the organizations are set up, then these institutions need to focus on how to advertise or market their products or the goals of the organization. Once these goals and intended product outreach to the society, then they need to ensure proper delivery and timely function of the small businesses and non-profit organizations. Then, they also need to ensure that in order to sustain in the market, they must continue to provide the necessities of the market in the short-run as well as in the longer-run.