To compete well in the market
A corporation that sells skills, time, and abilities requires strong stakeholder commitment. Employees with specialized talents that are unique and not copied in other industries are required to access this labor market. The threat of leaving implies that the firm's participants lack these abilities. Another criterion for entering the market is the availability and readiness of workers to respond to consumer requests. Another need for entry is an investment in customized equipment that is distinct from that of competitors already in the market in order to ensure that the services are of higher quality. For instance, if a firm teaches IT skills, it must possess advanced equipment to attract more clients (Kar, Mishra & Mohanty, 2014). If a firm lacks such equipment, the competitors will force it out of the market. Also, a firm should have a unique brand identity since entering a market with branded products is very difficult due to the huge amount of time and capital required to create a highly competitive brand. Without a good brand, a firm will be forced to quit operations in the market.
The conditions have influenced my choice of career
Since they act as a guideline for me to acquire enough clients. Having high-quality skills and branding my services has facilitated high performance making it possible to win the trust of many. Again, the special skills I possess are quite competitive and acquiring customers is not a big problem. The work does not require very expensive equipment and this has allowed me to remain relevant in this field without exiting the market or turning to offering other products.
References
Kar, B. B., Mishra, R., & Mohanty, J. (2014). Revisiting the factors influencing entry and success of entrepreneurship. Retrieved on January 17, 2017 from https://papers.ssrn.com/sol3/papers.cfm?abstract_id=2533106
