What Strategies Can Leaders Use to Maintain a Competitive Edge?
Maintaining a competitive edge in a global market requires a well-rounded approach:
Differentiation: Offering unique products or services that stand out from competitors can attract and retain customers. Cost Leadership: Efficient operations and cost-effective solutions can help a company offer competitive pricing. Market Expansion: Exploring new markets can reduce dependence on a single market and spread risk. Strategic Partnerships: Collaborating with other firms can provide access to new technologies, markets, and expertise.