Hi Mehan Case Summary

159 Words1 Page
Hi Meghan! In response to your question, yes. Businesses most adapt their business model and business plan to be able to remain competitive. Many business have failed in doing this and their products have become obsoletes. They forget that the marketplace keeps changing and so their customers’ needs. In order to provide satisfaction to customers, businesses must adapt and adjust what needs to be changed to meet their customers’ needs. Another factor that changes the marketplace is the entrance of new competition. When this happens, organizations need to find a way to provide a competitive advantage, whether if it is by changing their value proposition or marketing strategy, but they cannot remain static. They can also improve their technology,
Open Document