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What are the main advantages of competition in any business?

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Question added by Ibrahim Hussein Mayaleh , Sales & Business Consultant and Trainer , Self-employed
Date Posted: 2015/03/04
Mohammad Mohammad Ahmed El-Safty
by Mohammad Mohammad Ahmed El-Safty , مشرف تدريب وتطوير , شركة ميداس للتجارة العامة والمقاولات

The main  advantage of competition in the business is that

(For customers) competition will push the competitive companies/organisations to do their best to offer for customer the best possible levels of service and/or products.

(For companies/organisationscompetition will lead the competitive companies/organisations to search and apply strengths of each other as well as to avoid the weaknesses. 

LABIB KOOLI
by LABIB KOOLI , Director of the Sectoral Center for Training in Hotel Technologies at Southern Hammamet , Tunisian Vocational Training Agency (ATFP)

Competition is a driving force for betterment. 

Georges Aref Chaoul
by Georges Aref Chaoul , Sales & Media Director , Maids.cc

Competition creates the will and develop the business. 

You want the best talents, best customers, reputation, reach the top, succeed and earn respect.      YOU WANT IT ALL!!!.

Flight of success needs competition fuel.

Thank you

Alex Al Yazouri
by Alex Al Yazouri , General Manager , Al Mushref Cooperative Society

To fight to survive, compete to innovate. 

Deleted user
by Deleted user

Competition will "force" you to always try to improve your products, services, processes and systems in order to win over more customers and market share

Subhranshu Ganguly
by Subhranshu Ganguly , Quality Analyst. , WIPRO

Like it or not competition is a reality. The days of closed economy are gone. U do not have a Soviet Union any more and China has gone for capitalism. The only country where u can protect urself from competition is N Korea.

VENKITARAMAN KRISHNA MOORTHY VRINDAVAN
by VENKITARAMAN KRISHNA MOORTHY VRINDAVAN , Project Execution Manager & Accounts Manager , ALI INTERNATIONAL TRADING EST.

It will improve discipline and control internally.

It will improve the quality of goods and services.

It will create a positive attitude among the workforce and Management.

It will lead to innovations and technological advancement.

It will improve culture-inside and outside.

It will help to resolve the issues in a speedy manner.

Direct increase in efficiency and productivity to survive and best fit.

Benefit in General--benefit to customers with quality goods for better price--solve many of the administrative difficulties for the Government.

Nasir Hussain
by Nasir Hussain , Sales And Marketing Manager , Pakistan Pharmaceutical Products Pvt. Ltd.

nicely explained by Mr. Krishna ........ nothing to add more except that competitors help each other to expand the market size and customer's base.

Emad Mohammed said abdalla
by Emad Mohammed said abdalla , ERP & IT Software, operation general manager . , AL DOHA Company

"The principle advantage is efficient allocation of resources. When many suppliers compete for the business of consumers, prices gravitate toward costs of production and scarce resources are used for those goods and services for which there is real demand. Competition thereby produces maximum economic value from given resources, and uses minimum resources to supply a given demand." 

Examining your business processes to ensure that they are efficient will help you get a competitive edge. The faster your machines are able to produce products, the faster consumers will have them; this gives the business a competitive advantage.

fiona simali
by fiona simali , intern , Heifer international

leads to production of high quality goods and services as all will strive to survive

karokora emmanuel
by karokora emmanuel , Senior Sales Associate and couch buddy , Landmark group

many but most f all, raises quality of products and prices at bay.

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