Monopoly and Competition

[CeeJase]

I don't know what you are driving at because in our economy it is a free enterprise which means monopoly is discouraged. In the olden times there was San Miguel the brewery of the only beer in our country.

The truth of the matter is that there are some business projects in Nigeria that are being handled on Monopoly business because a particular individual have the licence to import a product.

 

[Shigobad2020]

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.

Monopolizing of business in some ways are favourable to some people because they have the final say over every decision in the company while to some people , its not good for them.

 

[Heatman]

You haven't given much information to help know how best to advice. Monopoly in a free market economy is quite difficult because with a successful template others will definitely want to be copy cats implementing same strategies.

Monopoly in the market is something that is not really that good in my opinion because it is going to make the business owner to take advantage of the customers and the market because they don't have alternative.

 

[CeeJase]

You can't drive out competitions completely you can only stand out build an edge over them.
To achieve this, constantly innovate new products or improvements on the current one, adjust your price too. Step up your marketing and customer service too, hire competent persons who are up to the task.

As far as I'm concerned I believe that competition is very better for businesses because it is going to help every parties in the business to set up an offer the best on like what monopoly does by making the business feel reluctant to do anything because they have all the power.

 

[joy101]

Competition is very good in a business because it will help the business to have value, when one try to sell good product in the business, will not worry about the business because people will keep patronize you.

 

[Shigobad2020]

Competition is actually good in a business because it keeps you up on your toes and pushes you to do better but its not good for the less privilege business because they don't have what it takes to compete with big business.

Competition is very good in a business because it will help the business to have value, when one try to sell good product in the business, will not worry about the business because people will keep patronize you.

 

[tyrim88]

When it comes to the issue of capturing the market and gaining full control of the market,one should be able to know what really the customers really wants,and then come up with an alternative.

 

[Ononivami]

Competition is etter than monopoly because Competition will make price of goods and services come down to a great extent. Monopoly will allow business man sell at any price they deemed fit.

 

[Shigobad2020]

You are definitely right , competition is the best way of making the price of the product in the market comes down while in monoploy the only producer might decided to sell in any price.

 

[Achawaskey]

At this level of computer technology and decentralisation of business, it will be difficult drive out your fellow competitor's, except there is a form of government policies that forces your competitor's to close or move, without that it will be difficult for you to monopolise your business.

 

[Shigobad2020]

Monopolizing a business has been affecting the business of the world in the sense that the price will keep rising because there's no business to compete with them to beat the price down.

 

[Josephjossy]

For you to be able to handle any competition in business, you need to up your game, you need to have a good product, having a good product is the key of beating out your competitors. You need to also have a good marketing strategy

 

[Syldan]

Actually competition is completely inevitable in every form of business enterprise. The only way is to increase your production with quality service provided to the customers.

 

[Bookwormlux]

The first step is by making sure that the way you render your services are going to attract people to you. Then you now come up with several marketing strategies to keep yourself at a top.

 

[tyrim88]

Competition is very good in a business because it will help the business to have value, when one try to sell good product in the business, will not worry about the business because people will keep patronize you.

That would be if you are really ontop of your game,because what will eventually make you to stand out is the value you are giving to your customers,and in return you will be a sort after brand once you can deliver.

 

[Sotherefore]

To be able to do this , you must get a certain permission from the government. They are the one to decide this. It will really help your business grow because you are the one to be the main determinants of your price and every other thing. But there's always a limit.

 

[Shigobad2020]

When it comes to the issue of capturing the market and gaining full control of the market,one should be able to know what really the customers really wants,and then come up with an alternative.

Monopolizing a business is a way of gaining total control of a business without having anyone else doing the business and you can inflate the price as much as you want in which your customers don't have any choice than to buy , but I there's competition in business , the price will come down because each company will be luring custimers with their lowered price.

 

[Kelly5]

I'm business, every business owner would love to monopolize their business space by every means possible. This is certainly going to ensure their continues profit for them for a very long time. But it is not always easy achieving such. You would have to come up with genius methods to outsmart your competitors.

 

[tyrim88]

Monopolizing a business is a way of gaining total control of a business without having anyone else doing the business and you can inflate the price as much as you want in which your customers don't have any choice than to buy , but I there's competition in business , the price will come down because each company will be luring custimers with their lowered price.

That is definietlly one of the advantage of having full control in a business environment,but to gain full control there are things you need to do,the source of your products or things that make up your product should not be made common,and also when you have the means of producing what you are using for your production.

 

[Monster Masterpiece]

Monopoly will kill competition and competitors then you have to diversify competition between various companies to kill monopoly that exists.