The Impact of Big Business
After viewing the NBC News film “The Last Days of an American Dairy Farm”, I realised that large businesses could have a disastrous effect on small enterprises, their proprietors, and even the animals they care for. I was saddened when I watched the video since the family had to shut down their dairy farm; also, over 100 dairy farmers lost their contract with Dean Foods when Walmart cut them out as they were middlemen (NBC News, 2018). It was difficult to comprehend that it was finished. They had put a lot of effort into building a great company, but ultimately they were unable to compete with big business.
Big business has a significant and broad impact on small firms. Big business frequently uses its size and resources to outgun smaller business. In the dairy sector, where big processors have been pushing out small family farmers, this is evident. The catastrophic effect of big business on the way of life of small farmers is demonstrated in the video “The Last Days of an American Dairy Farm.” Due to the exorbitant prices that processors are paying for milk, family farmers in the video are compelled to sell their land and relocate (NBC News, 2018). This is only one illustration of how large business may harm smaller business.
Due to their size and ability to influence the market, large corporations often engage in unfair competition and have uneven access to resources. For instance, two of the biggest consumers of agricultural goods are Costco and Walmart (Guebert, 2019). They can set the prices they are willing to pay for goods because they have the purchasing ability to do so, which is disastrous for small farmers who lack the same leverage. Big companies also have the financial means to invest in cutting-edge machinery and technology, which can create an unfair playing field for smaller companies.
Employees may be impacted by the unleveled playing field established by large corporations. Large corporations are frequently able to provide higher pay, benefits, and employment conditions than smaller corporations (Guebert, 2019). This might make it so that smaller companies can’t compete with bigger companies for the best workers. Additionally, huge companies frequently have the ability to influence the government for beneficial rules and tax exemptions, which might harm small companies.
The environment is another area where large company has an effect on small firms. Large investments in new technology can result in more effective and environmentally friendly production methods since big businesses frequently have the financial wherewithal to do so (NBC News, 2018). The enormity of their activities, however, can also cause them to produce a lot of garbage, which could be bad for the environment.
Despite the dominance of large corporations, there are still chances for small enterprises to prosper. Small firms can take advantage of their agility, creativity, and ability to respond quickly to client needs. They can also concentrate on specific markets or goods that bigger companies might not be drawn to. Additionally, tiny enterprises may be able to take use of regional networks and resources to outperform more established rivals.
The lesson from this SLP should be that while there are still chances for smaller businesses to flourish, huge businesses can have a significant impact on them. Small firms can take advantage of their agility, creativity, and ability to respond quickly to client needs. They can also concentrate on specific markets or goods that bigger companies might not be drawn to. Finally, small businesses must constantly be aware of the strategies that their larger rivals may employ to acquire an upper hand in the marketplace.
The Impact of Big Business