How does suppliers and competitors influence and impact on an organisation?

Suppliers and competitors play a crucial role in shaping an organization's strategy and operations. Suppliers influence costs, quality, and availability of materials, which can affect production efficiency and pricing strategies. Competitors impact market positioning, prompting organizations to innovate, improve customer service, or adjust pricing to maintain or gain market share. Both factors necessitate ongoing analysis and adaptation to ensure long-term success and competitiveness in the market.