1. Promotional resources can be concentrated on a target market, while the advertising message is designed specifically to resonate with consumers in that group. 9. Another advantage of Big Data involves its critical application in advancing artificial intelligence, particularly in advancing specific fields of AI.For example, machine learning depends on training data extracted from Big Data to learn from outcomes without being explicitly programmed. Economies of scale give a competitive advantage to large entities over smaller ones. That means there is a potential threat to the environment when these agencies are usually significant levels of non-renewable resources. MNCs define success based on their ability to be active in multiple markets simultaneously as a primary provider to their targeted demographics. Consumers would benefit from the lower prices, consume more, and create additional job opportunities around the world. 3. Domestic and International market. In the large scale production, by-products can be used in a better form. Disclaimer 9. The benefits can be passed on to the consumers. And disadvantages is private sector emerges a monopoly and the concentration of economic power in the hands of few. That idea became the foundation of the Walmart Neighborhood Market. Latest machinery: Organizations engaged in large scale production invest in the latest machinery. That is why knowing who you purchase products from each day is important. It is a structure which can guarantee the quality of competitive products. While global trade in goods and financial flows appear to have peaked in terms of their share of GDP, data flows are growing almost exponentially. If you can only purchase an item from this one company, then they are free to set whatever price they want for it because there is no competition. Advantages of monopoly. ADVANTAGES/ STRENGTHS OF TNC TOWARD HOST COUNTRIES. “being the best by what you perform as well as getting there as quickly as possible”. Another advantage of perfect competition is that consumer get standardized product irrespective of the place of purchase of product, so for example if a consumer is living in city A and he or she travels to city B and he or she requires soap which normally has perfect competition then consumer does not have to worry about quality of product because product will remain same whether consumer … So firms work effortlessly to beat their rivals they assume various ways to try and do thus. These employees were being paid just $63 at the minimum before the increase occurred. ... which ultimately benefits the consumer. The advantage to the customer is that they will enjoy lower costs as a result. The financial resources of the holding and subsidiary companies can be pooled together. The large scale production always makes use of machines. Large firms having strong hold over the market are able to make huge profits as there are few players in the market. Large firms having strong hold over the market are able to make huge profits as there are few players in the market. Plagiarism Prevention 4. Report a Violation, Top 10 Limitations of Large Scale Production, The Advantages and Disadvantages of Small Scale Production, Top 14 Disadvantages of Large Scale Production. Unscrupulous firms defraud the consumers by misrepresenting their products through advertising. ... Companies can provide consumers with better consistency when they exist internationally. It is a way to help communities save some money on the things they need while providing another layer of financial support. Advantages of online shopping Due to rapid growth of technology, business organizations have switched over from the traditional method of selling goods to electronic method of selling goods. MNCs define success based on their ability to be active in multiple markets simultaneously as a primary provider to their targeted demographics. These organizations walk a tight balance between the cost of the item relative to how good it is for a consumer. Serve Niche Markets. The Bangladesh garment industry is a prime example of this advantage. 4. Larger companies help to promote diversity. Because there were fewer regulations in place, the growth rate of these organizations was estimated to be 10%, while the rise in GDP over the rest of the world was only 5% at the time. Today’s business world is of growing economy and globalization, so most of the companies are struggling to achieve the optimal market share possible on both market level i.e. Globalization also pushed economic efficiency in the economy, ... 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