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To achieve this, SMBs had to adopt technology quickly in 2020 to maintain profitability and employee productivity, and we continue to see the ripple effects today. Cybersecurity. Cybersecurity protects small businesses from becoming victims of cybercrime, like data breaches where your data or your customers are exposed.
Fiscal policies: How might changes in tax codes affect your budget and profits? Changing workstyles and lifestyles, including increased remotework. Due to its size and profitability, Walmart has a uniquely competitive edge , yet its growth and continued profitability are sensitive to several external factors.
Although many businesses may believe that developing on offering extremely complex and advanced solutions may be the way to increase overall organizational profitability, it is actually better to prioritize customer experiences and services. According to McKinsey, 45% of work activities can be automated using existing technology.
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