Final answer:
Competition based on time is indeed one of the most important trends in companies today. The forces of globalization and new communications and information technology have increased the level of competition faced by many firms.
Step-by-step explanation:
Competition based on time is indeed one of the most important trends in companies today. The forces of globalization and new communications and information technology have increased the level of competition faced by many firms, as they now face competition not only from local businesses but also from businesses in other regions and countries.
With the advent of the Internet and improved communications technologies, consumers can now easily access products and services from anywhere in the world. This has not only increased the options available to consumers but has also intensified the competition among businesses to deliver their products and services faster to cater to the growing demand for instant gratification.