Understanding the nature of competition in an industry

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Understanding the nature of competition in an industry/market is critical to competitive success. However, accurately interpreting the nature of competition is not always easy. In a company you or a family member has worked for, what might have been some of the challenges the managers faced in trying to understand the nature of competition in an industry, and what are some of the consequences of not fully understanding competition? (must use your experience )

Reference no: EM132993847

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