Merits of specialisation include-exquisite flowers, Business Management

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Merits of specialisation include:

  • Being able to provide a focused, specific and personalized service to their customers means that sole traders can thrive
  • solitary traders become experts/specialists at their jobs and this improve their productivity
  • There are lower costs involved compared to providing a wide range of different services and goods.

Note: although individual traders specialise in the provision of a service or good, they tend to necessitate a variety of management skills since they cannot afford to hire specialists (and hence do not benefit from the division of labour).

 


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