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Increased global competition is driven by advancements in technology, which facilitate communication and commerce across borders, enabling companies to operate internationally. Additionally, the reduction of trade barriers and the rise of free trade agreements have allowed businesses to access new markets more easily. Furthermore, the growing interconnectedness of economies means that companies must compete not only with local firms but also with international players, which intensifies market dynamics. Lastly, consumer demand for diverse and innovative products has pushed companies to enhance their offerings on a global scale.

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1w ago

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