Competitive challenges refer to the obstacles and difficulties that businesses face when trying to outperform their rivals in the market. These challenges can arise from various factors, including pricing strategies, product quality, customer service, and brand reputation. Companies must continuously innovate and adapt to maintain their competitive edge. Additionally, competitive challenges can be influenced by external factors such as economic conditions, regulatory changes, and technological advancements. Businesses need to analyze their competitors and market trends to develop effective strategies that address these challenges and ensure long-term success.