Challenges:

  • Unfair competition from competitors with superior financial backing
  • High operating costs and low profit margins
  • Lack of access to innovation and technology

Solutions:

  • Form strategic alliances: Collaborate with complementary businesses to share resources and expand market reach.
  • Optimize operations: Implement lean manufacturing principles, automate processes, and reduce overhead expenses.
  • Invest in R&D: Allocate resources to research and development to stay competitive and innovate.