Is competition among business healthy?

[Dragunov]

It will be always good for the consumers because you need to make sure that your price, service and everything else are competitive or the best in the market. But on a business standpoint it will be tough.

 

[Adventurer]

I was at the market some days earlier to buy some electrical appliances, then I noticed how the business men started beckoning to me from all angles. One even ran up to me and said 'dont enter any shop apart from mine, I'm the only certified person that sells original gpods'. I was shocked! Why will people go to the extent of downgrading other's stores just to attract the customers to yours? This type of competition is dangerous because it can lead to hatred among the store owners in that particular place
Are there no other ways to compete healthily with each other?

I often wonder at that type of competition, sometimes when you go to the market you'll see a cluster of traders all selling the same item , then I ask myself how do they handle competition because you'll see them all beckoning to the same customers

 

[Zamaney]

One important benefit of competition is a boost to innovation. Competition among companies can spur the invention of new or better products, or more efficient processes. ... Competition also can help businesses identify consumers' needs—and then develop new products or services to meet them.

 

[Ryeetar]

One of the characteristics of a living thing is the ability to adapt to competition, all living thing must compete to live even in business. Competition helps us to strive to achieve more, when we compete it is to do more. Competition help us to fault or shortcomings and do better in them.

 

[jay]

Once there's business there my be competition. Everything that has advantage also has disadvantage and business above this law.

It's healthy when you understand that nobody has it all. With that in mind, you can actually reach out to your neighbour so as to tend to your customer. On the other hand, it's unhealthy when greedy sets in. When someone actually want for him to dominate the business thereby reducing the prices way below what is known.
As a result, hatred and jealousy will sprout forth.

 

[FunkE]

From a consumers perspective competition is the best thing since sliced bread and pizza. Because it gives you the option of choosing from a multiple competing businesses so you are literally king. And also the businesses in trying to outshine each other would put your interest first above their own. But for a business owner competition can be good or bad depending on your approach, one advantage of competing is it bring out the best in you as you try to outperform you opposition.

 

[Adetayo100]

Competition among business is healthy because it leads to reduction of price and better services from the competitors, also if a particular company or individual has a monopoly of an item then such company can fix any price they want.

 

[Sunnytee]

One important benefit of competition is a boost to innovation. Competition among companies can spur the invention of new or better products, or more efficient processes. ... Competition also can help businesses identify consumers' needs—and then develop new products or services to meet them

 

[jimmann247]

Competition in business is quite good, it you sit up and get things done in the formal or right way, if you have no competition in your business, it will make you misbehaving and thinking you are doing a favour to your customers.

 

[Prettyjanie]

Competition is necessary in business, it puts you on your toes, it also helps in regulating the price of commodities in the market. When you don't have a competitor, you won't realized how much you can take your products higher. So competition is very healthy for business.

 

[Draysongz]

In every sector in life there's always competition, in business however, competition isn't left out. I believe competition ishp healthy for business because it keeps each and every business owner on their toes. They have to determine a way to be better in services

 

[Setho]

One of the things people do not understand is that in business, we can always have a win win situation which is in fact the best. As business people and serial entrepreneur we have to learn to welcome health competition. Competition in fact often shows us what we lack and what we should be doing better at a business. That is why we should constantly study out competition and bring in ideas that can help us from theirs.

 

[Shayo]

Competition is good for business and it gives room for innovation, improvement in important aspects of business.
Those sellers you had an experience with are not cutthroat competitors, and the one who said that to you didn't mean it as well. I know this because I've experienced this severally, even when the one selling to you doesn't have what you need, he/she will take you to the next shop to check.

 

[ranaabubakar263]

Competition is important for your business because it provides reassurance that you’re getting customers because of the quality of your products and services.By increasing your online presence, you can rank higher than your competitors in search engine results pages.

 

[Bholozy]

Competition in business is important and healthy to both business owners and also the consumers.. It is to the business owners as it help you challenge your competitors and thrive to be better in other to get a larger market share. It is also to the consumers as it helps stop monopoly and help them to choose better quality that suit their taste

 

[redpogi16]

One important benefit of competition is a boost to innovation. Competition among companies can spur the invention of new or better products. There so many kind of competition i think its a friendly competion among businness.

 

[icars2105]

Competition in a business is a good way to introduced the product and attract more customers. But I believe there is always a good way to attract more customers than ruining the image of your competitors because this is how the customers will know and acknowledge what is the most suitable for them.

 

[eenya001]

Competition in business to a large extent is very healthy and much more benefits to the customers, because they are to benefit more from business competing rather a business that has the monopoly of that particular product. So for me I think it's very much healthy.

 

[Kelly5]

I was at the market some days earlier to buy some electrical appliances, then I noticed how the business men started beckoning to me from all angles. One even ran up to me and said 'dont enter any shop apart from mine, I'm the only certified person that sells original gpods'. I was shocked! Why will people go to the extent of downgrading other's stores just to attract the customers to yours? This type of competition is dangerous because it can lead to hatred among the store owners in that particular place
Are there no other ways to compete healthily with each other?

Competition amongst business is healthy of course. I won't want to be buying something from someone that is the only person offering me such service, it doesn't give options to choose from what will be more advantage to me in price.

 

[GIFTMICHAEL]

In this part of the they illiteracy has killed a lot of this uneducated business men and women.
Competition exist amongst goods and services. It is the products that compete and not individuals. Today people are fighting over customers which is stupidity.
Competition brings about price reduction. If i discover that Mr A is selling the same quality products with Mr B the only thing that can make me to buy from any of them is the price. After from price there are other factors too that favour competition.