Description

Essentially, throughout the global economies, there are three main types of competition, and they are: technology advances, financial considerations, and market forces.

With respect to technology, processes and operations can be more enhanced and streamlined by advancements in automation thanks to new AI technology, skill development, and innovation. 

With that being said, these new technological advancements don’t come from thin air, they come through the means of financial investment. 

Companies or individuals that invest, expect something back in return, referred to as ROI (Return on Investment). When something is invested in, it is expected to return a greater amount of sales and a greater overall quality, thus returning a greater amount of money to the investor(s). 

Market competition occurs where companies in the same sector compete against each other in two ways. 

Inter-industry competition is the competition between businesses within the same industry, you may buy a Fox’s biscuit instead of a McVities biscuit. 

Intra-industry competition is the competition between companies in other sectors that compete for a share of your salary, you may buy a car instead of going on holiday.

If your quality, cost, and delivery all exceed expectations, then you’ll have your customers return to you; you wouldn’t only think about surviving between your competition, you’ll thrive.

Instructions:

• Please complete the course, review questions, and successfully complete the qualified assessment with a minimum of 100% accuracy within one year of course enrolment.
• To retake the course, please refresh your browser and the course will start again.

Instruction before the Final Exam:

• The following exam will test your knowledge of this course.
• You can take it as many times as you want.
• You must have a score of 100% to pass this exam.
• You are required to complete the qualified assessment within one year of the date of purchase or enrolment.
• You must pass this exam to receive continuing education credits.
• You would need to retake the course before attempting the qualified assessment again.
• To redo the course after passing, you would need to reset the course.
• You won’t be awarded additional CPE if you re-take the qualified assessment after passing once.
• Please fill in and submit the survey after passing final exam to get CPE and Certificate of Completion.