Question

Explain two key challenges, in rank order, that many businesses face today?

Answer 1

Below are the two key challenges are enlisted in a ranking order.

1. Financial Management:

Financial management is very important aspect in every business, because business is measured in terms of financial performance, hence, it is very important to maintain the financial management. Financial management should take care of all financial transactions, profit, net profit, gross profit, overall cost to the organization etc. failing in these leads to failure in business as well.

2. Regulation and compliance.

Compliance and regulation is nothing but the recording all the business transaction and accountability of all the events and actions. Regulation and compliance maintains the quality in the work and acts as a proof for the any kind of work. Therefore, in order to sustain in the business organization should maintain quality as well as the business record in a good way to become top contender in the world.