Edit the following text to better reflect formal language.
The company learned they had to adjust their strategy cuz the market was changing.
The company discovered that they needed to adapt their strategy because the market was undergoing changes.
Complete the following task based on the instruction and optional input provided.### Instruction:
Edit the following text to better reflect formal language.

### Input:
The company learned they had to adjust their strategy cuz the market was changing.

### Output:
The company discovered that they needed to adapt their strategy because the market was undergoing changes.