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2020: What were the biggest challenges faced by businesses in 2020? In 2020, businesses faced a variety of challenges including increasing competition, global economic instability, and changes in technology. Despite these challenges, many businesses managed to weather the storm and thrive. Some notable successes include Amazon becoming the world’s largest online retailer, Coca-Cola reaching new heights with its Black Mamba brand, and Apple gaining considerable ground in the iPhone industry. These successes illustrate the power of innovation and business perseverance, both of which are essential for any company to succeed in 2020....