To Build or Buy Essay Example | Topics and Well Written Essays - 1500 words - 1

To Build or Buy - Essay Example With the growing advent of advanced technological aspect within the present day organizations and increased level of competitors herein, it has become essential for every organization to take effective decision. Execution of inappropriate decisions in recent business scenario will create hurdle for the small business firms in case of sustainability. Strategic decision making is considered to be a process in which vital decisions are made through implementation of management tools available to analyze the problems. These problems can result from decisions that involve adequate risk and uncertainty. It is assumed that a decision taken strategically can overcome hurdles that may arise during the process of analysis, examining of methods for structuring and while forming the model decision dilemma (Williams, 2001). The paper intends to provide a vivid description about the feasibility of building up a new business or buying an established one. It also provides an in depth insight about v arious business concepts require for small business sustainability in the global competitive market scenario. Discussion 1. A Brief Strategy for a Business Concept That Would Directly Compete With the Small Business The implementation of strategic management, while framing vital decision in any business has become an important aspect for any commercial association. The vital reason behind the implementation of strategic management in one business is that, it not only helps a business in taking effective decision but also assist to mitigate the rising issues of growing competitiveness. Bookstore in America is measured as an essential part of an individuals’ life. However, with the advent of technological aspect in the academic sector has changed the interest of the civilians in the United States of America (USA). Bookstores usually act as an intermediate amid the people and the writer or publisher of a book. Considering the Bookstore sector business, establishment of the cafe cum bookstore will provide an accelerated growth and profit related to the small business set up. The advents of technology in one’s life have changed the way in, which the people used to complete their task decades ago. Therefore adapting the technological aspect can help in creating a business that would flourish and provide tough competitions to other book stores located in the market (Woodward, 2005). In this context, the proposed business would be a book store along with a coffee shop. Furthermore, it has been viewed that in present day, people get very limited time for relaxation as a part of their recreational activity, because of the accelerated competition, job-pressure and adaptation of busy routine. It has been observed that individuals’ like to spend their spare time in a cafe’ shop or watching movies with their friends and families as the part of the recreational activities. Therefore, establishment of a cafe cum book store would attract more indivi duals, who have moved out of their house for gaining knowledge or is employed as personnel. In this aspect the business would mainly target the aforementioned group of individuals’. They can come in the book store to gain knowledge along with some short of refreshments. Additionally it would also provide them opportunities to make few friends in the locality. Furthermore, the business would be technologically advanced. For instance the business would provide a Wi-Fi facility that would allow customers to access the internet