Competitiveness of a firm means its ability to perform successfully in the market against rivals. Necessary conditions for this often include offering comparable or superior quality (A), competitive pricing (B), and efficient use of resources (D) to control costs and improve quality. Adequate returns (profitability) are typically an outcome or consequence of being competitive, rather than a prerequisite for competing. A firm might be highly competitive (e.g., gaining market share) even while making low or negative returns initially due to strategic pricing or heavy investment.
Which one is not a necessary condition for competitiveness of a firm ?
Asked in UPSC SO Steno 2017 · Topic: Nature of Indian Economy (Features of Industrial Growth and its Bottlenecks)
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