"Global competition drives enterprises to become globally fit to face global challenges prompting them for corporate restructuring". Elucidate.

An enterprise considering an exercise for restructuring its activities, has to take a wholesome view of the entire activities so as to exercise a Scheme of Restructuring at all levels. Competition drives technological development. Competition from within a country is different from cross country competition. Cost cutting and value addition are the inputs that get highlighted in a competitive world. Thus, innovations and inventions happen out of necessity to meet challenges of competition. Globalization leads to increased competition. This competition can be related to product and service cost and price, target market, technological adaptation, quick response, quick production by companies, etc. Monies flow into the stream of production in order to be able to face competition and deliver the best possible goods at the convenience and affordability of the consumers. Global competition drives people to think big and it makes them fit to face global challenges. In order to become a competitive force Corporate Restructuring exercise could be taken-up. Thus to be globally fit and survive in the business with surplus, an enterprise need to restructure with inventions and innovations.