brie2000
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Consumers demand for products that give convenience and quality at the lowest cost. These are very subjective criteria, in a competitive market, suppliers are pressured to give better products to outsell the existing top brands. Product awareness and reach is now not enough to sustain market supremacy specially because through the internet one can easily find the latest product offerings every now and then. To compete, suppliers have to continually innovate either the product itself or to improve the process of making it and delivering it to the customer.
It's a tough market nowadays! |
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dottoreo
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I see the problem in the question itself. It assumes that competition is always only good. Does any kind of competition necessarily good?
Competition is never equal.
Should invalids and disabled compete with healthy persons for food and other resources, for example?
It should not be taken out of context and environment. |
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Jennifer Grissett
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try the internet |
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dragonfire
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it's the chase for the all mighty dollar that drives completion plain and simple, and the chase always goes where the dollars are |
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Long
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competition forces people to do something, do anything, rather than do nothing.
i wouldn't the "serve others" part. sometimes inaction serves better than anything else. |
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Richard
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Only if you are in marketing.
Competition is based upon an unbalanced ego.
It is the basis for much of Western Cluture.
Competition always serves Self, personal or corporate. The statements otherwise are an attempt to provide reasons for selfish acts. |
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Renegado
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If they don't innovate, they can't survive, so that motivates them. |
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Angel
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I would say that competition does the exact opposite, if something innovative or a service to the public comes out of competition, it is merely secondary to the overall purpose which is to succeed or sell your product over someone else's--public service and innovation are a consequence of competition not necessarliy the motivating factor--the bottom line is monetary |
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go_surangasa
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Compitiion do not do that! and by the way i'm not gonna waste my effort in answering a question that has ompition to answer, by the way if one wrok case of compitition he/she is a @%#$ but I say monopoly's bad but as long as it's broken with consumer entrepreneourship (mind my speelings here case i'm busy) other than business that meaning entrepreneourship has two sides that one tries to find great ways to please customers and the other how to trick them inteligently like offering virus gards to viruses you created. so darling? if you are just having fun asking leave this invitation aside else email me about things at surangasa@gmail.com and if you disagree with me that means you are asigned by god to speak to me about ya question personally more than what's here. |
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rudraprasadguha
 |
We all know that 'necessity is the mother of invention.'
Just if we relate ur qust to this matter we will be able to understand that how people are eager to get thro their goals. Now 'innovation'; this is something which is the most important factor which are responsible to pull a person towards his/her goal. People who have strong innovation can do anything to achieve the goal.
This depends on the mental state of every person. |
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JFalcon
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Consider a newborn restaurant; people eventually tire of the frequented restaurant in the area and give the new one a try. They turn to the competition for something 'different'. People tend to like change once in a while.
The resident business realizes they are losing some business, so they change the menu a bit to perhaps add a new item. That gathers the interest of their usual "lunch crowd" and they try the new business to find a new favorite spot.
Now that there is competition between the two establishments, they are going to do what they can (up to a point they can afford) to provide different dishes or extra services for their customers.
That's where creativity comes into play; some add a new delicious dish to the menu, others provide free delivery. In either case, they work to innovate their menu and provide better services in order to win your hard earned monetary compensation. |
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leopardlady
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A lot of people seem to be getting stuck on "serve others." It's simple. Someone which difficulty carrying things (some elderly, for example) would rather go to a grocery store where someone carries the groceries out & loads them into the car for the customer. If there is a great demand for that service, several stores will offer it.
Supply & demand works for for services, too. |
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auntb93again
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Competition is effective among non-profits as well as profit-making entities, of course. They compete for donor dollars, volunteer hours, and the better employees.
Having said that, competition means you try to gain the profits or other benefits of what is a scarce resource: customers, government contracts, non-profit donations, etc. In order to do this, you must look better in the eyes of a comparison shopper than the other guy. New products or services is one way, better prices is another, more competent and friendly service is another. Also, sometimes people are drawn to something just because the advertising or publicity is novel.
That's what the advertisers at the Super Bowl emphasize. There you are, in huge numbers, glued to your TV. How do they make you pay attention, instead of using that opportunity to run to the bathroom or kitchen? By being so entertaining that you keep watching, and allow them to showcase their products, repeat their name, and display their logo or other distinctive symbol to stick in your memory. To be sufficiently entertaining, they hire the most innovative designers in the advertising agencies, and spend money lavishly in production. The result is profits and salaries for a whole lot of people, all because of competition for your attention. (Make you feel important?) |
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Life's Drifts
 |
It is acceptable that a producer must continuously improve and update their products in order to serve others.
A better and more economical product will not only serve the provider but the also the working people that work at producing a needed commodity.
In turn the workers will need to acquire theri necessities and this will infuse the local and regional economy with needed revenue that is made possible by a better made and better priced product and the success of the manufacturer.
The positive multiplier effect just grows and grows to the benefit of the country and it's communities. Jose |
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bluefire
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Short answer, competition leads companies to create better products to create better profit margins. |
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hop0409
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People are different. Some feed on competition while others shy away from it. I think it depends on the person. |
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superscribe
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It's funny that you mention "competition", then "innovate" and then "serve others."
In business, it's usually the other way around: seek to serve others, then keep innovating (create new products or services to serve the same type of customers), then compete against rival companies.
I think true entrepreneurs pursue new ideas (which I define as "new arrangements of the same objects or assets to create superior value") which, once exploited, will result in new products or services that can serve people better.
In that sense, it is not competition that "lead people to innovate", but a deep sense and belief that there is a lot of value out there waiting to be "unlocked and unleashed" for helping people have better lives.
My success blogzine below is one such idea I had a few months ago. :-) |
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NunZ7777
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you have to work harder to be better than the next guy |
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peaceisfromgod
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competition really does not help to improve, what brings improvement is a clear vision of what good ought to be done and an assessment of failures to see how to correct them. this darwinian idea of survival of the fittest which spurrs competition is, shall we say, bull**** |
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nksagar_1
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creativity |
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too_funky666
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what business u r into? if u let me know details, i would like to join.!!
mail me on docash_g@yahoo.com
perhaps i can help u, as long as u share profits with me.! |
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?
 |
Seen as the pillar of capitalism in that it may stimulate innovation, encourage efficiency, or drive down prices, competition is touted as the foundation upon which capitalism is justified. According to microeconomic theory, no system of resource allocation is more efficient than pure competition. Competition, according to the theory, causes commercial firms to develop new products, services, and technologies. This gives consumers greater selection and better products. The greater selection typically causes lower prices for the products compared to what the price would be if there was no competition (monopoly) or little competition (oligopoly). |
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doctorkersey
 |
Competition leads sellers to make better products at lower prices.
This in turn leads to price wars.
It also give more selections for consumer.
Consumer wins by selection and by lower prices. |
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Morrisevers
|
Not being an expert in market economies, I have an opinion to offer. First, I don't believe that competition leads people to innovate and serve others, perhaps not by the way you intended to mean with the formulation of your question. To me, competition seems to serve mostly to innovate the "company" to be the best in their own field of expertise and to create a situation of awareness that would make their competitors seem incompetent in an attempt to give themselves a leading edge. And the only way anyone (the "company") would innovate and serve others is if and only if these "others" have the bucks to pay for the services the "company" has to offer, and the "company" will only use any deceptive practice available to them for convincing (innovating) these "others" to spend their money on them instead of the competitors.
Another thought added somewhat later:
I shouldn't forget about the competing company as also being the "other" and being innovated to improve their own performance situation in an attempt to keep up and maybe become better than the "company" described above (the company that wants it all for themselves). The little guy is going to want a piece of the action also and they would be determined to go out and find a way to get it - innovation and more of an unintended service from the other "company". |
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?
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in our everyday world n lives there is compititon in everything we do..
Others compteting in everything to stay ahead of others to achieve more than the last person.
Like wal-mart and all the other chains of stores and outlets.
People compete like in the olympics to see whose stronger and better...
We all compete against one another for better or worst to stay ahead... |
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ahsesbadwords
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Hardly. Apart from that maybe once existing thought competition makes people only selfish and innovating only to better their own conditions, |
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celeste
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Innovation can be expensive and risky. It involves sunk costs that may or may not be recovered in the market. So actually, anticompeitive policies like monopoly rights or patent protection encourage people to innovate moreso than the free market. |
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PretTqt
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do ur own friggin homework. |
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truttman
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Hey, nice college student, how about answering your own homework questions, instead of having other people do it? |
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clubhead37620
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competition leads to progress and better quality |
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tucden89
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wow, that's a really specific question- are you trying to write a college essay or something?? |
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