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The need for global competitiveness is much important for any industry to sustain in this competitive world and this helps the company to retain its old customers as well to obtain new customers,maintaining the profit level and also to be a leader in the market.Aspiring to be a market leader or to be globally competitive helps a company to grow.It also helps the company in introducing new products to the world.Eg: Apple came up with the iPad and they were first to target the people with the new product and thus were able to get adventage,Similarly Google acquired Motorola mobility holdings to become strong in the cell phone segement too.When firm competes with each other it does not benefit them alone but a wide range of customers too.

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13y ago

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