Better Business, 5/e

Objective 1-2 Common Business Challenges and Opportunities

1. Explain how competition, the social environment, globalization, and technological changes challenge and provide opportunities to business owners.

Last year Leroy Washington inherited his family’s deli. The deli had a loyal clientele with a regular lunch crowd. Then a new Subway store moved into a building directly across the street. Because Subway is a national franchise that advertises heavily, the new store has great name recognition. The store also occupies a larger space, has more workers and ovens, and has a more extensive menu.

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Leroy found his lunch ...