what is the biggest challenges facing business today?

Answer 1

Biggest challenges are mainly to do with environmental concerns politics and legislation, labour requires more money as people are becoming more and more skilled, large businesses are undercutting smaller ones by outsourcing key business processes to 3rd world countries or countries with cheaper labour costs, (indina china), in Africa its governments that are affect businesses, a change in government in africa does not gurantee current standards will remain the same african governments have been known to bury businesses that have existed for 20+years withing a single day, they create a very much volatile environment to do business in and fail to maintain policy from one government to the next one governement will have completely different ideas as to the other, businesses in africa face skilled labour shortage because of the HIV virus, and brain drain most africans migrating to first world nations. In asia Government policies is major concern , in middle east more or less terrorism creating a volatile environment for business in Europe and USA more to do with legislation volitlity of economy is understandable, a last factor is cost of fuel impacts severly on every resource.

Answer 2

I agree with dojodomo in that growing competition is a huge challenge for business owners today. There are more people in business today, and huge companies that have been in a particular line of business longer than new upcomers than anytime in history.

However, as a business owner myself, I would have to say that overhead expenditures is the biggest challenge nowadays. Fuel prices are higher than they've ever been, and that means higher prices for everyone. Resources that used to be plentiful have become high-dollar investments today. Also, every business owner knows that labor (employee wages, benefits, insurance, etc) accounts for a huge chunk out of the company's budget.

Also, a person has to consider the need for more tools in the marketplace than in the past. Twenty years ago people didn't need a computer on every desktop, but they do today. Take into consideration that it's not just the initial investment of the computer, but also software, upgrades, IT's to maintain and fix those computers; and computers are only one piece of the technological pie. There's cell phones, monitors, monthly telecommunication bills, etc, and the list goes on.

So, in a nutshell, I'd say COST is one of the biggest challenges facing business today. Who was it who said, "A penny saved is a penny earned?" It's hard to earn (save) a penny when you have to spend it just to keep that competitve edge!

Answer 3

Government.

Answer 4

Bankruptcy overral. This is the overral reason caused by problems such as not a lot of people have money to spend so you won't get many costumer, low income, bankruptcy

Answer 5

A country's stability, and just as important, easy of collection and remittance.

Answer 6

The ability to be creative.

Answer 7

growing competition

Answer 8

environment,natural disasters(WHEATHER) AND HUMAN CREATION

Answer 9

globalization

Answer 10

i think globalization.