Question

The primary drivers of hypercompetition are

a. rising global socio-economic instability and increased inflation.
b. the emergence of a global economy and rapid technological change.
c. increased global competition and decreasing tariffs.
d. increased availability of capital and increased competition.

Answer 1

The primary drivers of hypercompetition are increased global competition and rapid technological change. Globalization and new communications technology have increased competition for both local and global businesses.

Step-by-step explanation:

The primary drivers of hypercompetition are increased global competition and rapid technological change. Globalization and new communications and information technology have increased the level of competition faced by many firms by increasing the amount of competition from other regions and countries. For example, advancements in technology have made it easier for consumers to order products from anywhere in the world, leading to increased competition for local retail businesses.