Competitors employ a variety of strategies to gain a competitive edge:
- Research and Development (R&D): Heavy investment in R&D to stay ahead in innovation. - Collaborations and Partnerships: Forming alliances with academic institutions and other companies to accelerate development and commercialization. - Acquisitions: Acquiring smaller startups with promising technologies to integrate into their portfolio. - Intellectual Property (IP): Building robust patent portfolios to protect innovations and gain leverage in the market.
