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- W55403900 abstract "This chapter presents an analysis of small-scale production. The overwhelming majority of business units are extremely small; many are one-man businesses and many more employ only a handful of workers. Over a wide span of industry, the typical situation is one of what is described as oligopoly, that is, domination of the market by a small group of sellers. In spite of this concentration in large units, the fact remains that there are small firms in most trades and that in some trades it is the large firm that is rare. The process of growth takes time. This is true partly because of imperfections in competition that give shelter to an existing concern and allow it to carry on in spite of comparative inefficiency and partly because a large firm cannot grow without a great deal of effort, involving planned additions to its resources and their reorganization in a new administrative framework. Thus, many small firms are able to survive for a time because the bigger firms suffer from indigestion if they try to gobble them up too quickly. It takes time for big firms to expand that helps the small firms in another way. The managerial obstacle to growth is, in the last resort, a personal one." @default.
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- W55403900 date "1982-01-01" @default.
- W55403900 modified "2023-09-27" @default.
- W55403900 title "Small-scale production" @default.
- W55403900 doi "https://doi.org/10.1016/b978-0-408-71056-5.50013-1" @default.
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