Decline of business brings growth opportunities

Abstract

Many small and medium-sized enterprises’ managers hesitate to launch new businesses for the diversification or business change. In the case of new business launching by Yamato Industrial and Yamaguchi Kasei, decline of their existing businesses was a threat, and simultaneously, it has become an opportunity for launching new business, just as the saying “tough times bring opportunity.” In addition, the experience of launching a second business, rather than experience at startup, will motivate managers to launch businesses continuously.

Keywords

• entrepreneurship
• diversification
• small and medium-sized enterprises