Posted on by Judy

What is your reaction to the need for growth to maintain profitability while constraining costs? What do you see as the greatest challenge for the manager in that situation? PROVIDE A CITATION

In this present market frame business always required frequently innovation and introducing competitive products and services.
World is global village and market has a global reach and contentious emerging in business practices creating cut throat competition.
My reaction will be based on following points maintaining profitability with constraining costs-
1) Products innovation with competitive prices.
2) Understanding the operating costs.
3) Acquisition of market and customers .
4) Branding always focus on uniqueness of products.
4) Reducing the channel cost.
Managers always face the following challenge in this situation –
1) Managing challenge to retaining customers.
2) Managing to reduce the channel cost.
3) More focus over such channel that reduce the cost of selling.
4) Handing the price issues .
5) Facing the challenge of customers taste and preference.
6) Reducing the cost of production.
 
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