Arpita says that success is what matters. "I want to be successful in my buisness. It may be by the death of my competitiors or by the sufferings of customers. It makes no difference to me.
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Being successful in your business is considered to be an outstanding achievement, but at the same time, sustaining the same is the biggest challenge. There have been many successful entrepreneurs who tasted success initially but eventually turned out to be also-rans.
So, what does it take to be successful in your business? Apart from many other factors, analyzing your competitors’ strengths and weaknesses plays a pivotal role in your firm’s success.
Competitive analysis helps organizations to look at the bigger picture. Small and medium business entrepreneurs sweat it hard to grow their organizations, and at one stage, they are way ahead of their competitors.
But how do they make sure that they are growing better than the competitors? Competitor analysis helps them grow and strengthen their team and double or even triple their revenues shortly.
Answer:
Free market capitalism is an economic system that can generate great wealth and prosperity for nations and their citizens. It is also a system defined by competition that creates winners and losers. While this competitive process can lead to innovation and invention, it can also deteriorate the market share of existing companies, with the worst case leading to bankruptcy.
