You should say:
- What is the business is?
- Where it is?
- Who runs the business/how do you know about this business?
- And explain why you think it is successful?
Model Answer:
- I belong to Phagwara.
- It is the hub of small-scale industry.
- There are many small businesses running in Phagwara.
- Here I would like to talk about Neil Campbell industries.
- It deals with motor spare parts.
- This company is run by my friend’s father, Mr Sehdev Chauhan.
- They manufacture engine parts and motor parts.
- My friend tells me that her great grandfather started this business from his home.
- He started with just two workers working under him.
- He had only one machine initially.
- Then when her grandfather joined the company they started expanding.
- Today, there are about 200 workers, and the supply spare parts all over the world.
- Me know my friends brother emigrated to Canada for years ago and now he gets orders from Canada also.
- She tells me that her father is very disciplined and reaches his company half an hour before time.
- Perhaps that is why all the workers are also always on time.
- They have a very good relation with their employees.
- She was telling me that it is very difficult to sustain in this modern world because competition is very stiff.
- But in their company they have employed many foreign nearing relatives who are all working hard and earning good bread-and-butter from this company.
- They give their employees bonuses from time to time, and sometimes even take them out for excursions.
- When they get bigger orders, they make their employees do overtime and pay them double for that time.
- That is why all the employees look forward to working overtime.
- They have very good relations with other spare part manufactures in my hometown.
- Freya tells me that her father is mostly out to different states of India and abroad for taking part in exhibitions related to their products.
- So, this is the successful small business that I know of.
Follow ups
- Do many people know about this company?
Yes, in my hometown many people know about this company. But as my friend tells me that they have business in all parts of India and abroad, so I guess many people know about this company even outside my hometown. - What do you think can be considered as emerging industries?
Well I guess, emerging industries are those industries which are based on new products or new ideas which are in the early stages of their development. These industries are also called sunrise industries. These industries are mostly related to information technology, wellness, hospitality and knowledge. - Is market research important for export business?
Yes, market research is very important for export business. If a person does not do any research then the whole thing can go waste and the person can end up suffering huge losses. - In business, do companies need to be competitive?
Yes, in business companies need to be competitive. If they are not competitive, they will die. If their products do not match up with similar products of other industries, then they will not have any sale and ultimately will not be able to survive. - Should companies promote competition and why?
Yes, companies should promote competition, because if they will not do so then they will not match their rival companies and will ultimately not be able to thrive. - What should be the government role in how small businesses are run?
The government should promote small businesses, because today many multinationa companies are coming up, and if small businesses are not promoted and supported by the governments then they will ultimately disappear. - How can businesses benefit the community in which they are located?
Businesses can benefit the community in many ways. Firstly, they can employ people in the local community are. Then they can take steps to save the environment. In this way they can fulfil their social and environmental responsibility. - What kind of small businesses are most popular?
All kinds of small businesses are popular, such as related to clothes, toys, the food industry and many more.
