Common Strategic Obstacles that Company Face
Growing businesses face a range of challenges. Every business owner faces different challenges, wears many hats, and makes many decisions each day.
The “worry list” of obstacles and strategic issues that a company faces are as follows:
- Global competition: How to meet the challenges posed by global competition?
- Product innovation of rivals: How to face the product innovation of rivals?
- Company’s high costs: How to reduce the company’s high costs?
- Company’s growth rate: How to sustain the company’s present rate of growth?
- Looking out a better market: How to gain better market visibility for the company’s products?
- E-commerce: How to match up to the e-commerce opportunities?
- Product expansion: Whether it is necessary to expand the company’s existing products or not.
- Price and R&D: Whether to put more emphasis on new product R & D and more production capacity, cut prices in response to the actions of the competitors.
- Keeping up with market changes: If your company operates in a sector that experiences frequent upheaval, you have to be prepared for constant change.
So, these are the strategic issues/obstacles a company faces.