What are the competitive strategies to enhancing the organizational profitability?
What are the competitive strategies to enhancing the organizational profitability?
Increasing profitability is important for many businesses because it helps them grow and compete in their marketplaces. Growth in profitability can help businesses get funding from banks, investors, and shareholders. If a company isn't already profitable, increasing profitability may eventually lead to profit generation, which ultimately allows the company to keep running. A company's profitability is determined by how much money it makes compared to how much it spends. More effective businesses will produce more revenue in relation to their expenditures than less effective businesses, which must spend more to get the same amount of income.
Step by step
Solved in 2 steps
