Industry and market changes can significantly affect a business. They can alter the competitive landscape, affect the demand and supply dynamics, and impact the overall profitability of a business. For instance, a new competitor entering the market can reduce a company's market share, while a change in consumer preferences can decrease the demand for a company's product. Similarly, regulatory changes can increase operational costs, and technological advancements can render a company's product obsolete. Therefore, businesses need to constantly monitor and adapt to industry and market changes to maintain their competitive edge.
What’s the best way to turn business challenges into strategic opportunities? With a structured case...
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