What Are the Challenges in Maintaining Profitability?
Maintaining profitability can be challenging due to various factors, including:
Economic downturns: Recessions and economic instability can reduce consumer spending. Increased competition: New entrants and existing competitors can erode market share. Regulatory changes: New laws and regulations can increase compliance costs. Technological advances: Rapid changes in technology can make existing products or processes obsolete. Supply chain disruptions: Issues with suppliers can impact production and delivery schedules.