Meaning ● Strategic Specialization for Small and Medium-sized Businesses (SMBs) denotes a focused approach where a company concentrates its resources and expertise on a limited set of products, services, or market niches to achieve superior competitive advantage. Achieving business efficiencies is often found by SMBs that are strategic in their choice of specializations. ● Implementation often involves technology integration and automation, leading to more efficient operations and better customer service, boosting the value proposition. Focusing on a specialty allows for the development of deeper knowledge and more refined processes that would benefit from automated processes. ● This concentrated approach directly informs decisions related to scaling activities within that chosen segment. Strategic decisions about allocation of scarce resource must focus on the strategic specialization to derive benefits.
