Final answer:
Access to technology, customer focus, and quality performance have all helped level the playing field for small firms competing with larger companies.
Step-by-step explanation:
One of the factors that has helped level the playing field for small firms competing with larger companies is access to technology. Technology has allowed small firms to enhance their operations, reach a wider audience, and compete on a global scale. With technology, small firms can leverage digital marketing strategies, utilize e-commerce platforms, and automate tasks, giving them a competitive edge.
Another factor that has helped small firms is having a strong customer focus. By understanding the needs and preferences of their target market, small firms can tailor their products and services to meet those demands. This customer-centric approach allows them to build strong relationships with their customers, differentiate themselves from larger companies, and gain a competitive advantage.
Lastly, small firms that can demonstrate quality performance are more likely to compete effectively with larger companies. By consistently delivering high-quality products or services, small firms can build a reputation for excellence and earn the trust and loyalty of customers. Quality performance can help small firms attract and retain customers, even in the face of fierce competition from larger companies.
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