1. Competitive pressure is when a company faces pressure from its competitors.
2. This situation is common in all economies except for monopolistic ones.
3. The demand and supply situation for a product or industry plays a significant role in competitive pressure.
The article titled "What is Competitive Pressure" provides a brief definition of the term and its relevance in the business world. However, it lacks depth and fails to provide any substantial insights into the topic.
One potential bias in the article is that it assumes that competitive pressure is a common phenomenon in all economies except monopolistic ones. This statement overlooks the fact that even in monopolistic economies, companies can face competitive pressure from substitute products or services.
Moreover, the article does not provide any evidence or examples to support its claims. It would have been helpful if the author had included some case studies or real-life examples to illustrate how companies face competitive pressure and how they respond to it.
Another missing point of consideration is the impact of technological advancements on competitive pressure. With rapid technological changes, companies are facing new challenges and opportunities that require them to adapt quickly to stay ahead of their competitors.
The article also lacks exploration of counterarguments or alternative perspectives on the topic. For instance, some experts argue that healthy competition can be beneficial for businesses as it encourages innovation and drives down prices for consumers.
Furthermore, there is no mention of possible risks associated with competitive pressure such as unethical practices or cut-throat competition leading to market saturation.
Overall, this article falls short in providing a comprehensive analysis of competitive pressure. It lacks evidence-based insights and fails to consider alternative perspectives on the topic. As such, readers should approach this article with caution and seek additional sources for a more nuanced understanding of competitive pressure in business.