In today's hypercompetitive business environment, firms that have strong project management skills have a higher likelihood of success because they are able to: Spend money wisely dapt processes and systems and therefore innovate faster than their competitors Optimize business processes Change and adapt in a slow yet methodical manner, reducing risk Utilize social and mobile platforms

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Salazar

Business

2 January, 01:18

In today's hypercompetitive business environment, firms that have strong project management skills have a higher likelihood of success because they are able to: Spend money wisely dapt processes and systems and therefore innovate faster than their competitors Optimize business processes Change and adapt in a slow yet methodical manner, reducing risk Utilize social and mobile platforms

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Mackenzie Stafford · Answer 1

adapt processes and systems and therefore innovate faster than their competitors.

Explanation:

Today's hypercompetitive business environment is also a rapidly changing environment. The world seems to change every day; markets change, consumer preferences change, currency values change, etc. The only constant thing in the world is that everything changes rapidly, maybe too fast.

Project managers need to rapidly adapt processes, systems and schedules to catch up with our crazy rapidly changing world. The life span of certain projects has shortened and the schedules are also shorter now. No one can wait 2 couple of years for a factory to start producing a certain good because in two years maybe that good is already obsolete.