Is competition a bad thing?

Briangsam

Active member
Before many people start a business, the first thing is to look out for competition around them. Some even try hard to weed out competition. Many however, also prefer business ideas with little or no competition. They dread competition so much. Is competition in business that bad a thing?
 

Godslamp

Active member
Competition is why producers strive to please their customers. Competition also encourages businesses to improve the quality of goods and services they sell – to attract more customers and expand market share. Quality can mean various things: products that last longer or work better, better after-sales or technical support or friendlier and better service.
 

Godslamp

Active member
Competition is entire good in all ranification the simplest way for a company to gain a high market share is to offer a better price. In a competitive market, prices are pushed down. Not only is this good for consumers - when more people can afford to buy products, it encourages businesses to produce and boosts the economy in general
 

Maphalle

Member
Competition is what we use to promote our businesses, that's why we need to be competitive. As long as the competition is not outof jelous it will benefit the business. A non competitive business cannot make it in the market, worse when we talk of non competitive employees.
 

Augusta

VIP Contributor
Before many people start a business, the first thing is to look out for competition around them. Some even try hard to weed out competition. Many however, also prefer business ideas with little or no competition. They dread competition so much. Is competition in business that bad a thing?
I think it's good side of a coin both good and bad but you need to take the good side which is that it bring out the best in the business, because more work will be put into it to outshine the competitor therefore, making the business to be more outstanding. Competition is good
 

Adeksammy

New member
Competition is good for business, hence the need for companies to embrace and implement corporate strategies that will enable them or give them the comparative advantage over their rivals. A competitive environment makes companies to be on their toes at all times to give customers quality products/ service at a times and value for money, competition prevents exploitation of customers ...
 

Dorcey

New member
In some cases competing with other business organization might be bad but in most cases competition really helps alot cause you will be movitated to do some things that will help your business,make it ,and will attract customers only if you compete with the mind of developing your business and not with the mind of beef or jealousy cause that the most common attitude between all business owners.
 

Victor001

Active member
Competition can be good and can be bad for business, competition in business should stimulate you to improvise and advance in your production and marketing skills,instead people see competition as attack amongst themselves trying to discredit others effort. Competition in business should build cooperation amongst each other.
 

Teatea

Active member
No, competition is not a bad thing, if anything at all, it is even good for business. If you have a monopoly over a particular product, you will remain stagnant with no improvement or innovations at all, this is because you know no one would hijack your customers and they have no choice than to buy your goods and services no matter how bad or average it is since no one else can provide it for them.
 

Abee111

Active member
Competition is a good thing because a good market should be perfectly competitive.in a case where a market is not competitive, it becomes a monopoly market in which one producer /seller has the ability to decide and rule over the entire market based on his convenient market clearing price. Competition is good in a market
 

eojo2401

Active member
Competition in business is not a bad thing but needs to be managed well in other not to result to unhealthy rivalry. Competition will give the business owner the opportunity to give best products or services to there customers then it will guide against monopoly with can results to huge abnormal profits. Competition will also improved business owner's good customer's relation skills.
 

Timison

Member
Rivalry is whole acceptable taking all things together ranification the least difficult route for an organization to acquire a high piece of the pie is to offer a superior cost. In a serious market, costs are pushed down. In addition to the fact that this is useful for purchasers - when more individuals can stand to purchase items, it urges organizations to create and supports the economy all in all
 

Chibson

VIP Contributor
Competition is very healthy and of course, at the benefit of the people or customers. When there is competition in any business the owners of the businesses we bring out the best and of course work hard to give the best to the people. Competition also helps to control the prices of products. But when there is Monopoly a producer will not have anybody to compete with, therefore any price he sets on the product, the people will buy.
 

IamDozzy

Active member
Competition isn't such a bad thing, it actually brings out the best in your or your business. Haven't you noticed that companies don't usually pay attention to the quality of their products when there is no competition but immediately there is a new competitor in the market, they start adjusting the quality, quantity and price of their products. This ultimately favours the final consumers.
 

Adetayo100

Active member
Healthy competition in a business is not a bad thing at all on the bright side it keeps the competitors on there toes, they knows that if they misbehave, customers will likely move to there competitors. Take Nigeria telecommunications company for instance, they always outdo themselves in terms of call tariffs and data bundles. Now imagine if we only had one network provider.
 

Segat

Active member
It all depends competition could be a bad thing sometimes and be a good thing the next time. It is all about the perspective through which individual view it. But I didn't see competition as a bad thing especially in business and that's what makes business interesting and brings about quality improvement.
 
Top