Competitive environment in business – Prowriterslanka

Competitive environment in business

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Wars, natural disasters and shortage of skilled people are also effect competitive environment. As a result of completive environment of business activities Companies have to charge more as continually raising expenses and overhead costs. Our direct competitors provide similar services and we have to compete with them. Differentiating our services in a competitive environment entails developing an element of our business that competitors will not be able to imitate. Rapidly growing technology innovation also affects the competitive environment affecting those who do not adapt. One example is the internet has enabled some companies to offer online services through their websites which some customers find more convenient than the other options available. Organizations that do not adapt to this new competitive environment might be at a disadvantage.