I feel healthy competition on all facets in life should be encouraged. And business is also included in that, competition allows people to do more than the ordinary. When you do there's someone somewhere hoping to take your place you tend to do better. People are always motivated by the prospect of winning against others.
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Competition and business
- Thread starter Trexxxy
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high rate of competition has become a major challenge to so many business owners and it's not something we can shy a way from but rather you have to compete and do better than competitors in othee to stay on top of the game.
Nigerian organizations were most effective in achieving profitability objective through their grand corporate strategies, while corporate social responsibility was the least achieved corporate objective via corporate strategies. For example, market penetration strategy was the most emphasized grand corporate strategy, while planned liquidation strategy was the least emphasized strategy.
Competitor is good in business, and is one of the way for everyone to think on how to create new thing the will make him or her to be unique from others competitors, like study the weekness of others and make it to be your own strength.
Basically, what made business still be active and upstanding the level of a competitor when you don't have anyone to compete with in the same race, you tend to do as you pleases, because competition brings about how good and efficient your product is and to what extend can you run the of quality product, not quantity.
competition to me makes me think of what kind of service I am rendering that could reduce the level of the profit rate.
when sight a company producing the same product all I do is leverage more on the quality of product production and leverage more as well on the quantity of supply to customers.
competition to me makes me think of what kind of service I am rendering that could reduce the level of the profit rate.
when sight a company producing the same product all I do is leverage more on the quality of product production and leverage more as well on the quantity of supply to customers.
Competition in business is always born to occur, it makes one stronger as well, in order to make yourself unique above your competitors, you have to improve on your branding and marketing skills, you can operate your business traditionally and ecommerce-wise as well, ensure great customer services and affordability of your products is very important.
Competition in a business is very good, because being compet in a business will make your business to be moving ahead, for your business to be successful there must been competition on it, so competition is really important in a business.
Adebayonle7
Mythical member
Competitions have always existed and not in business alone. Competitions were supposed to be a challenge to push competitors to their very best and allow them improve and change what needs to be changed. When you games at the Olympics and other sporting events, you realize that competition is good. But in business and in the world, individual and organizational competitions are now posed to threaten, disrupt, and end another. A business does not want another to accomplish its own goals and targets and calls it competition but it is actually hatred and bitterness.
Competition is a very important part of business, as long as a business is profitable, there will always be competition, competition help to keep the price of commodity in check and also helps business owners to improve on the quality or their goods or services.
For the progress of business proper planning for competition and positive feedback mechanism is very necessary because with the passage of time the requirement of people change, in the same way different business compete with each other for the survival so competition is always effective way to enhance business.
Hmm.....this looks like a preacher to me. You are right absolutely but its applied in some aspect. I believe the force of competition enable you to think beyond the box I me a outside the box. The mistake we made is we compete with everything, which is wrong.
Abibatabosede
Mythical member
I believe before anyone could start a business there must be a set rules,aim and objectives for setting up that business.
Based on the objectives, you shouldn't concern yourself so much about your competitors if you have good service.
Based on the objectives, you shouldn't concern yourself so much about your competitors if you have good service.
Competition is the rivalry between companies selling similar products and services with the goal of achieving revenue, profit, and market share growth. Examples are anyone who sells electronics is a direct competitor with other sellers of electronics.
Tinaconcept
Legendary member
Every business have a competitor but this should be controlled to avoid getting out of hand. Competition is not healthy for every business. But to me I will say competition in a business helps in the growth of that business because if a business dont have competitor it will relax
Rivalry in business is useful for the development of the business. It gives spaces for development as you generally need to search for an edge over your rival. Rivalry additionally achieves inventiveness and requirements organization to consider new ideas. A sound rivalry is acceptable among the organizations to improve the monetary of the country.
If you are the only one in a business field in a certain region, you wouldn't feel the need to improve. However, when there's someone offering the same product or services, you'd be forced to try to make yours more appealing. I don't think there's anything with that unless you are trying to sabotage your competitors.
Competition is good for the consumers but not for the business. When San Miguel beer was the only beer in the market it didn't bother much with the promotion although it has some tv commercials once in a while. But when Beerhausen came to town there was a big change because San Miguel has to fight otherwise the competition might eclipse them in sales. Fortunately for the consumers they now have a choice. Until now the Asia Brewery still has its beer with a different name and San Miguel has the same beer which remains number 1 in the market.
Competition just like any other thing has it own advantages and disadvantages so focusing on the advantages will do a business a whole lot of good while the advantages are very few. The thing is that we can't avoid competition, so the best way around it is to work around it.
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