What Are the Challenges in Maintaining Competitiveness?
Maintaining competitiveness is an ongoing challenge due to factors such as:
1. Market Dynamics: Rapid changes in customer preferences and market conditions require companies to be agile and responsive. 2. Global Competition: Companies now compete on a global scale, which means facing competitors from different regions with various strengths. 3. Innovation Pace: The fast pace of technological advancements requires constant investment in innovation to stay ahead. 4. Regulatory Changes: Compliance with evolving regulations can be costly and time-consuming, impacting a company’s competitive edge.