Final answer:
Experts find small-business management and large-business management similar because both deal with fundamental challenges such as obtaining capital and implementing effective marketing and management. They also share concepts like the division of labor and the emphasis on core competencies. The organizational structure and operational strategies often resemble each other across business sizes.
Step-by-step explanation:
Experts agree that small-business management and large-business management are similar in practice primarily because, irrespective of their size, both types of businesses encounter similar fundamental challenges. For instance, obtaining capital, performing effective marketing, and employing efficient management practices are critical to the success of both small and large organizations.
Furthermore, the division of labor is a concept applicable to both small and large businesses; whether it's a simple set-up like a restaurant with various job roles such as chefs and servers or a large manufacturing factory with hundreds of different job classifications, they all rely on an effective organizational structure.
In addition, focusing on core competencies, which refers to a firm concentrating on one or a few key products or services, is often a strategy employed by both small and large firms to ensure success. Thus, it's evident that the structural foundations and strategic operations often mirror each other in both small and sizable enterprises.