A business has to offer wider choice in purchasing enhanced quality of goods and services in order to maintain an edge over its competitors. The implementation of the new economic policy with liberalisation, privatisation and globalisation has posed various challenges for the corporate sector.

One of the important challenges is explained in the above lines. Identify the same from the options given below.

Increasing competition

The policies of government related to liberalisation, privatisation and globalisation has resulted in increased competition.
The government policy of liberalisation, privatisation and globalisation has made a definite impact on the working of enterprises in business and industry in terms of:
(a) increasing competition
(b) more demanding customers
(c) rapidly changing technological environment
(d) necessity for change
(e) need for developing human resource
(f ) market orientation
(g) loss of budgetary support to the public sector.
In the new economic environment, the Indian enterprises have developed various strategies to meet the challenge of competition.