Competition and business

[Sotherefore]

Although competition in a business is good but you must understand that there are two types of competition The Bad and The Good competition ,so you must compete in a way that you tried to make your goods and services unique from others and not in a way that will bring down an organisation of other people.

 

[Kelly5]

I'm sure a lot of people will agree that competition is good for business.

I believe competition is not good for business at all.

It distracts you from your goals & makes you compare yourself with other people.

What you should do instead is; focus on how best you can serve your market. You'll grow in the process.

Sometimes, you may even make the mistake of competing with people you should be learning from.

And that's why it's really important to focus on your growth.

It helps you appreciate your effort, and even make more progress.

If you compare your own 3 followers to another person's 300 followers, you'll surely not appreciate yourself.

Good things take time, It'll be worth it.
Just enjoy the journey and trust the process

What are your thoughts?

Competition in business is a natural phenomenon. In business compete or die if you do not have the strong constitution to compete in a business environment then you are not ready for business

 

[Setfragil]

Competition is good in business if you are good at what you do. Competition helps to keep you in check to know if you are performing to the standard of others or better than others that you're in the same line of business. Competition is good it brings about creativity. As good bas competition is, it shouldn't to overscore or underscore your business performance.

 

[Shayo]

There is bound to be competition in a business, work itself is competitive, naturally any business would want to do more than its counterparts.
Healthy competitions is good for business and mostly favours the customers, when there is competition, businesses will improve on their part and consumer will benefit from that too.

 

[Nma]

competition and business are intertwined and inseparable.... There is competition in every business..... however business owners should focus on how to make their business outstanding and how to improve their businesses rather than focusing on competition... Most times it breeds strife

 

[Ridorz]

It's a good thing to be a competitive one in your business to others because this will give you a opportunity to be creative and Innovative as you are willing to grows or move your business forward, and to be amongst the best. If you are not try to be a competitor others will be and take over you.

 

[chicnthin]

Although I get your point, I disagree on it. Competition is good for business as the companies tries to offer the best services and products to the customer. Without competition, there will be monopoly which will cause the chance for businesses to serve poorly.

 

[Tariq Shehzad]

In the business competition is good but shouldn't be too much for all businesses. competition sometimes makes a business strategize and plan vigorously on how to improve their businesses. It is also helps customers to choose from alternatives.

 

[Nurudeen]

Competition can never be eradicated out of business in any industry or sector. Competition nos healthy but too much of it and over saturation can kill a business in a particular location. If a business is established with more location and there are less customers to patronise such Business definitely there won't be much gain in the business again

 

[Hasan Raza]

Dear you shared valuable information but competition is absolutely needed for business. Competition helps in bringing out better idea. It help also in reducing price. A business world without competition won't be cool. Price of things will be so high and also out of reach of middle standard society.

 

[Sariana23]

I think that if the competition is good up to a point, since it is based on it that you can attract the client to your business and motivate you to strive more for the public. Offer good quality products and therefore you will get more profits, which in reality all entrepreneurs are looking for.

 

[Damismiling]

To become a successful business, you need to find ways to stay a step ahead of your competition. Doing so is often easier said than done, and there's no simple answer to how to beat your competition.

Competition exists in every market.

One likely way to beat your competition is to address the needs of your shared target audience better than your competition can. Ask open-ended questions to find exactly what your customers want while using your products or services.

That is the logic you are right, you are not directly interested in the competition, but instead what you are majorly after is that your business stand out amidst other competitors that is the goal, so making your business to be the number one taste of clients is the goal

 

[Kiko]

At its simplest level, competition in business is when two or more companies compete for the same thing. Traditionally, that means competing for customers - with the end goal being profit. For businesses, an ideal world may involve them having 100% market share within their respective markets and not having to worry about competition at all. That certainly isn’t the case for customers, though, who benefit from businesses competing against each other to offer the best quality products for reasonable prices.

 

[Frank]

The thing about business competition is that it always exists in the business market; you won’t find any field of business where there isn’t any competition. However, some fields are less competitive and the others are more; but business competition in the market is always there.

There is actually some businesses where there is zero competition. Take for instance here in Nigeria, the duty of electricity supply lies solely on the company setup by the government and there is no one that has a say in what happens in that industry apart from this company.

 

[Presido]

Competition is sometimes the main factor while the economy of country grows fast. When there are competitions in businesses, there would production of quality products,goods and services and this help the growth of the economy

 

[jay]

They are not mutually exclusive. Once there's business there is always competition healthy or not. The competition it brings to the table is what will motivate you to strive for more and not feel complacent about things are. So it's advisable to have some around you.

 

[Mary]

Competitions have actually helped some companies and businesses to discover their strength and weaknesses which help them to sit tight and strategize on how to produce the best and most affordable in prices to customers.

 

[Psalmsavatar]

Competition is very good for the growth of any business. It allows entrepreneurs to bring new innovation into their business sonas to beat rivals. Competition put rivals on their toes to deliver benefits

 

[Caali]

Competition helps you also to position yourself and to understand what is important in relation to the customer in providing value. Competition is also your road map on how to navigate in reaching your customers.

 

[Osaz96]

When going into business you should make sure that you are well prepared mentally as that will help you to Ben stable no matter what. Competition is good for business, it helps you be on your toes and not complacent. If your mind is stable, competition will not overwhelm you but rather it will help you grow.