Question

• Trends in EP
• Question: How changes tie to changes in company revenue, costs, and competitive strategy?

Answer 1

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Changes can change many things in the company. Change can be considered as good changes or bad changes in the company as good changes are considered when you see an increase in the company's revenue which helps the company to earn more profit and try to grow more as a company. Good changes also help the company to reduce the cost of manufacturing the product as less cost will let the company grow and try to make goodwill in the eyes of there customers by selling products at a low price. This activity will attract the customers and it will boost up the sales of your company's product. It also helps in improving the competitive strategy of the company as it will lead to taking a competitive advantage over your competitors in the market and help you to achieve your company's objectives. Then comes bad changes as these changes will lead you to losses and your company will start finishing. It will also increase the manufacturing cost which will increase the price of the product and your customers will start shifting to your competitor's product. It will also reduce the competition in the market and you will see your competitors ruling the market with there effective competitive strategies. There are various risks involved in doing any change but you need to be sure about the change you're doing so that it will help you to provide success.