Staying Competitive for Small and Medium Sized Businesses: 
Realistic Solutions for Today’s Business Environment

Business leaders everywhere know that today’s marketplace is in a constant state of change. Case in point: Customer choice continues to multiply exponentially as the speed of new technology adoption escalates. It took the Internet just seven years after its introduction in 1994 to reach 30 percent of American households, while it took television 18 years to achieve the same penetration. In today’s interconnected economy, customers can purchase, communicate and connect at any time of day or night.

As a result, businesses are facing competition like never before. The same technological advances that propelled globalization have enabled most large organizations to more efficiently operate and effectively communicate with customers. To date, however, many small and mid-sized businesses have struggled to achieve levels of efficiency and effectiveness that are required to thrive in today’s increasingly competitive marketplace.

To remain profitable businesses that can make an impact, these smaller companies now have the opportunity – and the mandate – to operate more resourcefully. From internal processes to customer communication, companies need ways to manage these processes better and faster, without sacrificing effectiveness. According to The Rules of Business, a recently published book by the editors and writers of Fast Company magazine, “In today’s economy, it’s the fast companies that trounce the slow. Competition these days can come from anywhere – from down the street, from across the ocean, or through the Web.

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