Competition in business

[milewilda]

In my POV,

Competition is good when I am the customer
Competition is not good when I am the Businessman

Well it is really something an advantage for customer or clients which we would really be having lots of option if competition would really become even more tighter which we would really be seeing different types of businesses would really be seen in the market.This is on all possible industry whether its food,gambling,ecommerce related or something else.For business owners or creators then expect that there would really be a
competition, thats why it would really be important that you should always consider on trying out to improve and trying out to make something which it doesnt been shown or be seen on the current market.
Make yourself to be that obliged on finding some new ways on to hook customers or people which will really make possible more revenue.

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[Bitum]

Competition is an important pointer/indicator on the free market, without competition there is no free market. Best example, planned economy in the USddR, free economy is determined by supply and demand, everything else is not a healthy market. What I like about cryptomarkt - is a healthy and fair competition. And that's a good thing, that's how it should be

[Mr.right85]

Generally, competition is very essential in a free market and without competition, there would be monopoly in the production of goods and rendering of services. And when there’s a monopoly, small business and start ups are destined to fail.

The cons to competition is more to the side of the business enterprises than it could ever be to the consumer or public. It becomes unfair for low capital and small scale businesses but in all, prevents a whole bigger threat that could affect a large number of persons.
Haven't existed some few weeks in a completely monopolised systems, it makes you to adorn competition and variety of products.

I recall a product from the early 2000s that chose not to sell in bits. They later met a competition in a product that operated same market that sold in bits and where able to meet the demands of low and high income earners and the other were soon running out of business until the started selling in bits.
The masses are at the end point of it all, beneficial.

[Zilon]

Competition brings in varieties, creativity, branding, customisation, packaging and availability of products. But it also brings malice, strife, hatred and envy. When we talk of healthy competition it involves as many businesses that are involved to share the same mindset for the competition to remain healthy without threat.

As with pros, there are also cons.
1. As a small and growing business, you’re bound to lose business to bigger and stronger firms when there’s a strong competition
2. Competition pose a threat to a small business as they could pack up and close up shop
3. A competition could very well turn into a conflict especially if it’s an unfair competition with undue advantage to one side.

Competition doesn't pose any special threat to small business different from what others will face. Small business can stand the heat of competition as far as the maintain quality and standard products. In business the small, medium, and large business face the same storm the only difference is their capital strength which in turn determines the extent of their losses.

A business person should be ready for competition before embarking on one because that is what determines how far they will excel in it

[Johnyz]

Generally, competition is very essential in a free market and without competition, there would be monopoly in the production of goods and rendering of services. And when there’s a monopoly, small business and start ups are destined to fail.

That's exactly what's happening in cryptomarket, we've seen a lot of competition here and fortunately there's no monopoly since every project can have a chance to a be good one as long as they offer good services and as long as investors sees their values. Competition sometimes kills a business as well but that is very normal because if you can't stand with the competition, that only means to me that your project is not worth enough to stay in a very competitive market.

[Rockstarguy]

2. Competition is constant and ceaseless as it goes on all the time. We all indulge in competition whether knowingly or unknowingly

Competition is needed in every business and company so as to avoid monopoly. In the labour market were every trader wants to make good sales, they must device their competitive measures to make a great sale. So competition is a very useful tool for every business.

Business is all about Competition, their must always be competition in business. Competition all the time is what will make a business grow. People are looking for the best and every business is trying to have the best product for consumers for sales to be fast. When their is no competition I'm business it makes the business to be stagnant in sale and their won't be much demand in the market for such business. Competition in business has kept so many businesses consistent in making qualities.

[Sticks and stones]

In my POV,

Competition is good when I am the customer
Competition is not good when I am the Businessman

You’re probably not a good business man if you’re scared of a little competition. Competition is good and encouraged for both parties. With competition, you could be more innovative which in turn would help grow your business. It would also help you stay on your toes and keep you alert cause you’re fully aware other businesses would just love to have your clients the moment you slip up.

[Iroh]

Generally, competition is very essential in a free market and without competition, there would be monopoly in the production of goods and rendering of services. And when there’s a monopoly, small business and start ups are destined to fail.

The cons to competition is more to the side of the business enterprises than it could ever be to the consumer or public. It becomes unfair for low capital and small scale businesses but in all, prevents a whole bigger threat that could affect a large number of persons.
Haven't existed some few weeks in a completely monopolised systems, it makes you to adorn competition and variety of products.

I recall a product from the early 2000s that chose not to sell in bits. They later met a competition in a product that operated same market that sold in bits and where able to meet the demands of low and high income earners and the other were soon running out of business until the started selling in bits.
The masses are at the end point of it all, beneficial.

Yes, the final consumers benefits the most from a healthy competition as businesses are forced to be creative and innovative or lose business. If you as a business aren’t willing to provide services that would attract low income earners and only cater to only high income earners, someone else would come by that would cater to the low income earners. That’s competition.
It keeps business on its toes and scrambling for ideas and innovations that would seem attractive and welcoming  to all consumers.

[KingsDen]

In my POV,

Competition is good when I am the customer
Competition is not good when I am the Businessman

You’re probably not a good business man if you’re scared of a little competition. Competition is good and encouraged for both parties. With competition, you could be more innovative which in turn would help grow your business. It would also help you stay on your toes and keep you alert cause you’re fully aware other businesses would just love to have your clients the moment you slip up.

As a human you shouldn't be afraid of competition, there is competition in every aspect of our life even by nature we compete to survive, will complete the live.
As a business owner if you want to be in an environment without competition you would definitely not grow.
Competition pushes one to be creative and innovative.
It also makes one to take extra steps to achieve success which on norms, they wouldn't have happened.

There is ethical and unethical competitions, the former is favourable to both business owners and consumers, unlike the layer.

[RockBell]

As a human you shouldn't be afraid of competition, there is competition in every aspect of our life even by nature we compete to survive, will complete the live.
As a business owner if you want to be in an environment without competition you would definitely not grow.
Competition pushes one to be creative and innovative.
It also makes one to take extra steps to achieve success which on norms, they wouldn't have happened.

There is ethical and unethical competitions, the former is favourable to both business owners and consumers, unlike the layer.

Competition is good - if the competition is strong it keeps you activities.
A strong competition gives you a lot of ways to be active  - that is nothing to be jealous of but to excel and work to the fullest

Competition actually gives you room for improvement so once any competition is noticed you re-strategies and re-brand look at the case of Nokia and blackberry after some time new phone companies have taken there position that is business for you if you don’t work on new strategies then you business is at risk you need to improve, look at Apple the name is already their and they are always improving there product with nice designs and futures that makes everyone wanting to buy their products that is what a business needs, the fact is that the competitors will continue to be there that is just the truth.

[Yamifoud]

Perhaps, competition is normal in all areas and that said healthy competition is sometimes hard to find. Some people are even more greedy that not wanted to have other people competing with them like how these huge businesses do. If we are in this field, we have to be aware of this but I don't encourage you to think about how other people do, it is supposed to have that "healthy competition" in order for all of us well improve and grow together.

Honestly, it was hard, we know that not all have that kind of mindset and care for others but just themselves.

[Techkoy407]

Many people say that rivals are troublesome and annoying, but actually from the point of view of an intelligent person,
it is our means to compete, to be even better, because with it, we will be more enthusiastic in working and innovating.

[nara1892]

Competiton, especially healthy competition in business is good. We have seen technological innovations spring up as well as novel marketing ideas as a result of competition. Besides this, from the side of the consumers, there is a lot to gain from healthy competition among businesses. Imagine for a second two companies providing the same services and all of a sudden one company decides  to set its price too high, we know what will happen next. The consumers will just change service providers with the business with lower fees so as to save money.

Actually, in this case, everything related to goods and services clearly must have competitors because apart from being a benchmark as you said, this is also quite good for us as consumers because this can be several options and not only 1.
I am speaking from a consumer point of view, obviously being a little happy with the competition both in products and services so that it is not too monotonous when determining what we want because apart from there are various types, of course we are looking for the right price for us because at that time it was cheap. only one then it will be very difficult to determine this.

[stomachgrowls]

Competiton, especially healthy competition in business is good. We have seen technological innovations spring up as well as novel marketing ideas as a result of competition. Besides this, from the side of the consumers, there is a lot to gain from healthy competition among businesses. Imagine for a second two companies providing the same services and all of a sudden one company decides  to set its price too high, we know what will happen next. The consumers will just change service providers with the business with lower fees so as to save money.

Actually, in this case, everything related to goods and services clearly must have competitors because apart from being a benchmark as you said, this is also quite good for us as consumers because this can be several options and not only 1.
I am speaking from a consumer point of view, obviously being a little happy with the competition both in products and services so that it is not too monotonous when determining what we want because apart from there are various types, of course we are looking for the right price for us because at that time it was cheap. only one then it will be very difficult to determine this.

As a consumer then it is really that a benefit since we could really be having lots of options but it is really bad for business owners when they do really have those lots of  competitors which we know that it do affects

revenue making but well every business that is expected to have competition and tending to get some market share which it isnt really that surprising.This is why as a business owner then you should really be that

keep on seeking for something new or something that hadnt been in the market.This is why being progressive is really that important on any business.
As long you do sustain then thats really the most important thing to consider.

[Sanitough]

Competition in business is extremely important for the better performance of organisations, companies and entrepreneurs.  It helps them to grow, think different, introduce new things and ideas on market. A healthy competition is extremely important for business and it affects prices alot as everyone wants to increase its sales in market and for that they keep prices in range. Competition helps to extend  market size and to get rid of monoply.

Competition is way more advantageous because it makes you think of new innovations that will attract your clients so that the sales progress will be very possible. And when there is healthy competition, there is surely positive results that will take place after that. Though for some reasons it may make other businesses fall, but it only means that those were weak and have no strong foundations, while those who succeed and even grow more have more long term profitability assurance.

[Finestream]

2. Competition is constant and ceaseless as it goes on all the time. We all indulge in competition whether knowingly or unknowingly

Competition is needed in every business and company so as to avoid monopoly. In the labour market were every trader wants to make good sales, they must device their competitive measures to make a great sale. So competition is a very useful tool for every business.

and if i may add, competition is favourable to consumers. because in this manner, they can avail services at a better rate if there are more than one offering the same service. also, the business owners will have the challenge to make their services topnotch as they have competitors to deal with. it means, consumers are getting better services if there is competition involved. if a certain service is being controlled by one only, they can easily dictate their price and they may not even offer great service as the consumer has no choice but to get their service.

Competition ensures better quality of their items that will help the consumers meet their demands on that certain product. That is why it’s always a good scene to witness a healthy competition in all types of businesses, as that will only prove which business will have more to show, and which business will just stop there and quit. Maybe there are some businesses who also just got more luck than others and they last longer compared to others.

[Crypto Legend]

2. Competition is constant and ceaseless as it goes on all the time. We all indulge in competition whether knowingly or unknowingly

Competition is needed in every business and company so as to avoid monopoly. In the labour market were every trader wants to make good sales, they must device their competitive measures to make a great sale. So competition is a very useful tool for every business.

and if i may add, competition is favourable to consumers. because in this manner, they can avail services at a better rate if there are more than one offering the same service. also, the business owners will have the challenge to make their services topnotch as they have competitors to deal with. it means, consumers are getting better services if there is competition involved. if a certain service is being controlled by one only, they can easily dictate their price and they may not even offer great service as the consumer has no choice but to get their service.

Competition ensures better quality of their items that will help the consumers meet their demands on that certain product. That is why it’s always a good scene to witness a healthy competition in all types of businesses, as that will only prove which business will have more to show, and which business will just stop there and quit. Maybe there are some businesses who also just got more luck than others and they last longer compared to others.

With competition, of course, the product service and quality service will be better, without competition, producers will easily control anything such as raising prices, lowering quality and so on. The presence of competition will certainly make the business healthy and consumers get a profit.

[CageMabok]

With competition, of course, the product service and quality service will be better, without competition, producers will easily control anything such as raising prices, lowering quality and so on. The presence of competition will certainly make the business healthy and consumers get a profit.

Healthy competition in every company, industry and factory is a very natural thing to happen because every user of a particular product can also analyze some of the same products before using or buying for himself. And it can also trigger every company, industry and factory to innovate better on their products so that there are more users they can attract to use the products they make or that they produce every year.

[arwin100]

2. Competition is constant and ceaseless as it goes on all the time. We all indulge in competition whether knowingly or unknowingly

Competition is needed in every business and company so as to avoid monopoly. In the labour market were every trader wants to make good sales, they must device their competitive measures to make a great sale. So competition is a very useful tool for every business.

and if i may add, competition is favourable to consumers. because in this manner, they can avail services at a better rate if there are more than one offering the same service. also, the business owners will have the challenge to make their services topnotch as they have competitors to deal with. it means, consumers are getting better services if there is competition involved. if a certain service is being controlled by one only, they can easily dictate their price and they may not even offer great service as the consumer has no choice but to get their service.

Competition ensures better quality of their items that will help the consumers meet their demands on that certain product. That is why it’s always a good scene to witness a healthy competition in all types of businesses, as that will only prove which business will have more to show, and which business will just stop there and quit. Maybe there are some businesses who also just got more luck than others and they last longer compared to others.

With competition, of course, the product service and quality service will be better, without competition, producers will easily control anything such as raising prices, lowering quality and so on. The presence of competition will certainly make the business healthy and consumers get a profit.

This is huge disadvantage with solely own product or services since they could just raise the price whenever they want and they will not doubt to do it because there's no competition will bother them. The presence of competition is so important that's why government should strictly regulate this so that those big companies will run this competition and not the monopoly.

[kapalmabur]

2. Competition is constant and ceaseless as it goes on all the time. We all indulge in competition whether knowingly or unknowingly

Competition is needed in every business and company so as to avoid monopoly. In the labour market were every trader wants to make good sales, they must device their competitive measures to make a great sale. So competition is a very useful tool for every business.

and if i may add, competition is favourable to consumers. because in this manner, they can avail services at a better rate if there are more than one offering the same service. also, the business owners will have the challenge to make their services topnotch as they have competitors to deal with. it means, consumers are getting better services if there is competition involved. if a certain service is being controlled by one only, they can easily dictate their price and they may not even offer great service as the consumer has no choice but to get their service.

Competition ensures better quality of their items that will help the consumers meet their demands on that certain product. That is why it’s always a good scene to witness a healthy competition in all types of businesses, as that will only prove which business will have more to show, and which business will just stop there and quit. Maybe there are some businesses who also just got more luck than others and they last longer compared to others.

Yes healthy competition is very good for the business ecosystem itself,
This increasing number of competition also makes quality increase and this is what consumers want,
precisely when there is no competition it will be a question and a definite setback