Understanding the Business Environment

The Changing Business Environment

The business environment of today is much more complex and dynamic than that faced by organizations 20 years ago. Factors such as developments in technology, communications, and transportation have contributed to the degree of globalization found in many industries. This can increase the degree of competition to which organizations are exposed creating the need to monitor existing competitors, and more significantly to be aware of potential competitors, that is, any product or service that a customer can use to fulfill the same needs as the organization’s current offering. The information that organizations need to gather has broadened beyond the understanding ...

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