Why is competition important?

[Musbyxamani]

To me as a manager or in a business setting competition is required to boost quality of supplies or materials

 

[jeff87]

As a business person, I've realised that it's impossible not to have either direct or indirect competitors in your line of business. Main reason why new business starter needs to do their home work and faction in competitors in their business plan.

This bring the question, how do you strive to have an edge over others?

In business, it's inevitable to have competitors. Most likely you will have a competitor in your chosen field of business. Actually competition is great because the company or business will make sure they offer quality product.

 

[tyrim88]

One of the thing that makes competition very important in business is the fact that it would aways keep the person involve on his toes.The presence of competition will make him to always be innovative about the next line of action for his business.

 

[eLdavis]

One of the thing that makes competition very important in business is the fact that it would aways keep the person involve on his toes.The presence of competition will make him to always be innovative about the next line of action for his business.

Exactly, to be on top at all times, the person would have to be creative and active. You cannot do your best or be your best unless you are in a place with competition.

 

[tyrim88]

Exactly, to be on top at all times, the person would have to be creative and active. You cannot do your best or be your best unless you are in a place with competition.

This is the real deal especally in a sector that is very competitive.You will alway be thinking and coming up with value base innovations and you will have to be doing a routine accesment of your work and how they are been receive in the market.

 

[Oliver4smile]

When competition is not too much to handle, it keeps the energy flower, if also makes things cheaper and thus benefitting final consumers or clients, but when there is no competition that's when you see the few people available making life difficult for people patronizing them

 

[jeff87]

One of the thing that makes competition very important in business is the fact that it would aways keep the person involve on his toes.The presence of competition will make him to always be innovative about the next line of action for his business.

Yes that is correct. Competition will always motivate the business to do the best things or products and services that is of good quality. Its because if it is not of good quality of products or services, the business will lose in the competition.

 

[Skysaint]

Competition is really important in a business, in other to bring out the full potential of the competing companies that in turn will leave the customers with the best quality goods to select from

 

[tyrim88]

Yes that is correct. Competition will always motivate the business to do the best things or products and services that is of good quality. Its because if it is not of good quality of products or services, the business will lose in the competition.

This is actually what we faced when we got into our line of business,we already have people who has been in the sector for long,and we just came in,what we had to do was to come up with a different concept of customer aqusition and delivery,it actually worked.

 

[eLdavis]

This is the real deal especally in a sector that is very competitive.You will alway be thinking and coming up with value base innovations and you will have to be doing a routine accesment of your work and how they are been receive in the market.

Not just in the business sector alone, I remember back then when I was drumming, I never took it seriously to be better until someone better than me came along, the competition brought out the best in me, and I became better.

 

[jeff87]

Competition is really important in a business, in other to bring out the full potential of the competing companies that in turn will leave the customers with the best quality goods to select from

I agree with you. Competition is very important in business to bring out the best quality of product or service. It's the customers who will benefit from the competition.

 

[Kaffyfolla]

The competition in market sometimes good, it will let you be able to buckle your shoe and fasten your belt In order to meet up with standard with others as a competitor

 

[Skysaint]

I agree with you. Competition is very important in business to bring out the best quality of product or service. It's the customers who will benefit from the competition.

Yeah, competition in the market are there for the benefits of the customers as they are left to enjoy the best products and services but I don't think the competing companies do enjoy it so much

 

[Chizfab]

Competition comes in two ways; healthy competition and unhealthy competition. Healthy competition shows that a business is viable and worthy to invest in and it also keep the business running for long. Unhealthy competition breeds contempt and break outs in business.

 

[Shigobad2020]

Competition most times brings out the best in an individual or a company in general. If there are no competition, we would just be too relaxed. But once there is a competition, we would have no choice but to be creative.

Competition is an important aspect of business growth because the business cannot at times move forward if theres is no competition between rival companiesl

 

[eLdavis]

Competition is an important aspect of business growth because the business cannot at times move forward if theres is no competition between rival companiesl

If there is no competition, you would feel relaxed, and there would be no need for improvement, thinking everything is fine. But once competition comes in, you would be able to see your weak points.

 

[Snazzy001]

Competition is very important because it makes different set of people that get a particular thing and that shoots up the value placed on that particular thing and it makes everything fun and effective

 

[Kaffyfolla]

Competition is really important in a business, in other to bring out the full potential of the competing companies that in turn will leave the customers with the best quality goods to select from

Competitive market is good sometimes, it will let the business owner prepare himself against the challenges and how to satisfy and retain your customer because if you can't satisfy your customer definitely they will have to turn from your side

 

[Aaron625]

Competition can help anyone realise their inner potential and it brings out the talent and skill from inside of anyone. A strong and healthy competition is required for the success of any business.

 

[Favouredgirl]

As a business person, I've realised that it's impossible not to have either direct or indirect competitors in your line of business. Main reason why new business starter needs to do their home work and faction in competitors in their business plan.

This bring the question, how do you strive to have an edge over others?

Knowing how to do something is not enough but doing it so well without mistakes is what makes it unique. In every business there are competitors and as a business owner try to stay ahead by making effort to. Try to know what your competitor is not doing right and do it perfectly well, improve the quality of your brands, products and services too.