International competition impacts corporate strategies from "summary" of The New Industrial State by John Kenneth Galbraith
International competition plays a crucial role in shaping the strategies of corporations in the modern industrial state. The dynamics of the global market require firms to constantly adapt and innovate in order to stay competitive. Companies must keep a close eye on their international rivals and be prepared to adjust their strategies accordingly. In the face of stiff competition from abroad, corporations often seek to differentiate themselves through innovation and product development. This can involve investing in research and development to create new and improved products that will attract customers and give them a competitive edge. Companies may also focus on improving their production processes and efficiency in order to lower costs and offer competitive prices in the global market. Furthermore, international com...
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