Question

In about 150 words, discuss the challenging goals and give example from the real business world.

Answer 1

If we look around us in the real business world, the business have to acheive several challenging goals all at the same time. we are all aware that how dynamic the business world has become. Everday, there are some new changes and developments. For a business to survive it has to surpass all these challenges.The major challenge each business unit has to face is globalization. Though globalization has several benefits , but with globalization the competition has increased to next level. The companies not only need to go through the domestic companies but also the products from foreign companies. It has to make its unique place among all these products from domestic and foreign markets.
Also the changes in technology and methods of production is changing rapidly. The businesses need to adapt to these changes as and when they arise because these new methods lowers the production costs and also production time period. If they don't adapt tot these changes, other companies could win over them through price war. Other than this , the market has several options available for almost every product. Hence the businesses are expected to be innovative for customers to choose their product and to aatract them.The future of the current businesses is very uncertain because of new changes in emand and products everyday. The businesses need to keep on progressing and improving. Customers are becoming more aware and responsible and rational. For survival businesses have to move to customer oriented approach.