Competition Among Businesses Has Never Been Greater

question 16

Essay

Competition among businesses has never been greater. Identify and describe several ways that businesses can become more competitive.

---

Definitions:

Group Member Characteristics

Traits, skills, or attributes that differentiate members within a group, influencing group dynamics and outcomes.

Socioeconomic Makeup

The composition of a society or group based on economic and social factors, including income, education, occupation, and social status.

External Environment

Refers to the conditions, entities, events, and factors surrounding an organization that influence its activities and choices.

Context

The background, environment, framework, or circumstances surrounding an event, situation, or statement, which can influence its meaning or interpretation.