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In order for us to answer this question, it is imperative for us to have a clear knowledge about the challenges that face a firm in a competitive market. Things like competition, changes and ramification; these are the factors that stand as a challenge to any firm, new or old. Strategic plans and business techniques of different leaders and companies worldwide have been questioned due to the advent of the transformed competitive landscape. Changes in technology, the reorganization of industries due to internationalization as well as the growing environmental awareness recently are just some of the changes that need response to all firms. The ramification or complexity on the business operations occurred as a result of environmental concerns. Different industries, most especially the manufacturing industry, reformed their packaging, toxic waste management and greater drive for the recycling of materials. Solutions to these challenges are often quite simple and common sense.
First, solutions would always start at the tail end of a determined problem. Because of the inevitable surge of technological revolution, coping up with the changing time is the best solution. There were revamping and restructuring of business models by the institution of new development in technologies in operations. Second, due to the technological advancements, dire political issues, and economic developments, it creates ramification within a certain market. Also, because of internationalization, the degree of communications and centralized operation has become more complex; hence, companies started to outsource their functions and the erection of relational allies that created virtual assembly. Lastly, as what I have mentioned, the market is overpopulated with firms of duplicating services incrementing the level of competition. Added to that is the entry of new markets in global setting, imposing a menace that cannot be discounted.
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The increasing notion of social commerce has been accumulated a historical growth through an effectual incorporation of the social media (Margiotta, 2012). In relation to the fiercely competitive position of the global business environment, it has been observed that e-business is considered as an essential component for the modern marketers in order to strengthen their business operations which further enable them to lead among their competitors in respective industries (SAGE Publications, n.d.).
Some of the greatest companies struggled to identify proper business strategies for international markets even though they are huge success in their domestic market. For example, Parker Pen Company failed to market its products properly in international market because of the visionless strategies they implemented in international market.
There are a lot of advantages for that a firm can exploit from changing market structure. These advantages are beneficial not just for the firm itself, but all the stakeholders have something to benefit from it. However, there are also certain disadvantages that a firm and its stakeholders have to go through once a firm changes its market structure.
This has been made possible through creativity and innovativeness of its computer hardware and software in addition to computer peripherals, internet services and digital music devices. Regardless of the company’s business success, it is faced with challenges of achieving a greater share in its corporate market.
The company is dedicated in ensuring maximum standards of social responsibility from their supply chain throughout the world (Apple Inc, 2012). The report will thereby focus on the company’s supply chain across the global markets, its customer base; engineering, manufacturing and marketing processes.
In other words, these are activities that ensure success of an organization. This neither means that without these elements, a manager or an organization is nor assured of success. Critical success factors provide an avenue of managerial and enterprise performance, and, therefore, any organization that hopes to achieve its mission must give these elements special and continual attention.
Chilean beer consumers have unique preferences that have revolutionized from the traditional chicha to the currently predominant pale ale and lager. Craft beer has for a long time been in existent, though its market share and consumer