Explain the role and importance of firms and industries?
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Role and Importance of Small ScaleIndustries. Small scale industries areimportant because it helps in increasing employment and economic development of India. It improves the growth of the country by increasing urban and rural growth.
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The ease of entry into a industry is important because it determines the likelihood that a company will kiss you competitors . On the other hand in industries that are difficult to enter , sources of competitive advantage last longer , and firms also tend to benefit of having a constant set of competitors .
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The ease of entry into a industry is important because it determines the likelihood that a company will kiss you competitors . On the other hand in industries that are difficult to enter , sources of competitive advantage last longer , and firms also tend to benefit of having a constant set of competitors .
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