Monopoly and Competition

[akinlolu99]

Monopoly and competition in any business are highly good and necessary as a matter of fact Monopoly does not just work with only businesses but even a countries country's economy. Does Monopoly within every country, state, and even private and public businesses, and due to that it gives room for the competition of all kinds.

 

[Skysaint]

Well, in recent times I don't think there is any retail business that is lucrative that will be free from competition. So any retail business man should be prepared for it, unless you are going into wholesaling business. Because that's the kind that's a bit monopolistic

 

[Ralphjoe]

How do I drive out competition and solely monopoly my business?
Shouldn't that be the best way to maximize profit?

Well for you to drive out competition in a business you have to search your business to know the comparative advantage that your business have over other businesses then after you have discovered that then you can improve on that comparative advantage for you to become more happier than other businesses in that aspect of your business then us for monopoly you just have to improve on this aspect for you to also break the chain of monopoly that other business have over your business.

 

[Dowenship]

How do I drive out competition and solely monopoly my business?
Shouldn't that be the best way to maximize profit?

Driving out competition is not an easy task, its only easier said than done, you have to be on your feet on a daily basis with consistent service every day..

 

[Dagm1]

In a completely affordable market, cost equates to limited expense as well as companies make a financial revenue of no. In a syndicate, the cost is actually collection over limited expense as well as the solid makes a favorable financial revenue. Ideal competitors creates an balance through which the cost as well as amount of a great is actually financially effective.

 

[Kingmarvex]

How do I drive out competition and solely monopoly my business?
Shouldn't that be the best way to maximize profit?

Yeah monopoly makes more profit and the best way is beating competitors. Rebranding making your products in line with consumers preference

 

[Ghost]

It's easy buy out the competition. Or better still get into something people ignore or pay less attention to. I have always said if I get the capital, I would go into agriculture and produce garri (processed cassava) more than anybody can imagine. I'm gonna make it feel like I own it

 

[Psalmseen]

I don't think monopoly is realistic in this country. You can't run away from competition. Life itself is all about competing. Among other businesses producing similar products, stand out

 

[Alexandoy]

I don't think monopoly is realistic in this country. You can't run away from competition. Life itself is all about competing. Among other businesses producing similar products, stand out

There used to be only 1 telephone company here. It was like winning the jackpot when you are able to get a phone line. But when a competitor came in there were many phone lines being offered. Now that phone company is still here but it is not a monopoly anymore.

 

[Snazzy001]

Maintaining a monopoly in your kind of business is not that easy and guaranteed. Many people out there are ready to dish out more than the kind of services or products you can give as well and everybody is driving towards that goal

 

[Josan]

In a place like my country, monopoly is big time in view and competition is greatly growing amongst the rest. But that not withstanding business people are still on with their business.

 

[tyrim88]

How do I drive out competition and solely monopoly my business?
Shouldn't that be the best way to maximize profit?

The art of monopoly is one of the strategy most business owners usually employ to gain control of the market and shut out competition from rival company.it is a tack they often use to draw customers solely to their businese.

 

[Stnicholaz]

How do I drive out competition and solely monopoly my business?
Shouldn't that be the best way to maximize profit?

It will be very difficult to drive out competition in most business. To achieve monopoly in your business especially in your area. There is need to change strategies by increasing the quality of product and services, packaging and branding. Like I said is not that easy but with time most customers will prefer to patronize only your business.

 

[Godspower]

Competition is bound to exist in a society where capitalism is practiced. It is very difficult for a business to enjoy monopoly except through government backing.

In a place like my country, monopoly is big time in view and competition is greatly growing amongst the rest. But that not withstanding business people are still on with their business.

 

[YERUS]

How do I drive out competition and solely monopoly my business?
Shouldn't that be the best way to maximize profit?

I think it is only when there is no competition that monopoly can come in.
In the presence of competitions, you cannot monopolize the market.
Rebrand your products and improve on your services, that way you can still make sales.

 

[Kaffyfolla]

Monopolistic competition characterizes an industry in which many firms offer products or services that are similar (but not perfect) substitutes. Barriers to entry and exit in a monopolistic competitive industry are low, and the decisions of any one firm do not directly affect those of its competitors. Monopolistic competition is closely related to the business strategy of brand differentiation.

 

[Laurentta]

There will always be competition in all business. For you to drive out competition and monopolize your business, you should make sure you offer quality products and services.

 

[Swazykid4all]

Monopoly has to do with selling one product or goods, Monopoly and competition are two different things but goes in different directions.

 

[Lucy ID]

Monopoly and Competition are different things in the business sector, Monopoly means having just one person in a line of business while Competitve sector has to do with having different number of persons in a line of business. With this you can draw how what and how you can go about the line of business you want to go into

 

[Heatman]

How do I drive out competition and solely monopoly my business?
Shouldn't that be the best way to maximize profit?

Monopoly is actually a kind of business that is not favorable to anyone except the person that runs the business because the profit-making in the business is solely determined by him.