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Originally Posted by aceventura3
Generally you give up the market rather than compete?
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I was guessing that you were intending to give a situation in which competition was no longer possible.
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Originally Posted by aceventura3
If you cut back on capital investment, R&D, etc., how do you distingush your product?
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Experience in marketing tells me that I can do it by myself in a few minutes. A responsible business owner has to know his market and his customers backwards and forwards. Know what they want, and be sure that what they want is your good or service.
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Originally Posted by aceventura3
Where do you get the money to switch production from your plan A to your plan B?
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Unless one is planning on selling off the business, one would need to invest money no matter what direction you take to deal with the problem. Even if you cut wages, you're cutting production. You lose something no matter what.
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Originally Posted by aceventura3
Your employees want at least a cost of living wage increase, what do you do?
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I would cut employee costs only as a last resort. Employees work harder than dollars, so I'd rather have one that the other.