Seminar paper from the year 2018 in the subject Business economics - Business Management, Corporate Governance, grade: 1,3, International School of Management, Campus Munich, language: English, abstract: Since market power has moved from enterprises to consumers, and global competition has increased substantially, managers in almost all industries need to face enormous performance challenges. To avoid red figures, they are forced to be more innovative in establishing and performing their competitive strategies. Long-term success will not be achieved solely through competitiveness but instead will depend on the ability to adapt to changes in a business environment and develop a consistent leadership style.

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