There is a growing competition in the market of electronics, due to technological advancement and ever-increasing demand of households. As a result, ABC Ltd. is facing the problem of a decline in market share. In order to combat competition, the company plans to introduce new models with added features and technological advancements.

(i) How will you seek to remove the problem of ABC Ltd.?

(ii) Identify the missing values in the above case.

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Solution

Certain suggestions for removal of problems of ABC Ltd. are:

(i) (a) The company should set-up its objectives, chalk out strategies to combat competition, frame policies for meeting the objectives.

(b) Proper funds and resources should be organised.

(c) Take help from experts in the field of production and marketing.

(d) Proper advertising and marketing with attractive schemes to be used to increase sales.

(ii) The values missing in the above case are:

(a) Knowledge of business environment

(b) Adaptation to change

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