Leaders must devise strategic responses to competitor actions. This involves:
Enhancing Value Proposition: Continuously improving the value offered to customers to stay ahead. Innovative Thinking: Encouraging a culture of innovation within the organization to develop unique solutions. Agility: Ensuring the organization is agile and can quickly adapt to changes in the market. Strategic Alliances: Forming partnerships or alliances to strengthen market position. Customer Engagement: Deepening customer engagement to build loyalty and trust.