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Home» Questions»Q 179455
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Finance Questions, Loans, Insurance & Investment Advice Latest Questions

Carpon
CarponExpert Mind
Asked: August 15, 20252025-08-15T19:07:27+00:00 2025-08-15T19:07:27+00:00In: Money & Business

Do you think competition is essential in business

Do you think competition is essential in business
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5 Answers

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  1. De Mogul
    De Mogul Expert Mind A student
    2025-08-15T22:16:49+00:00Added an answer on August 15, 2025 at 10:16 pm

    A life competition is very necessary and essential for our growth and also development. In any business you are doing when you don't have competitors you don't see the reason to innovate, a brand and also think very well to make things better. But when you have a competitor  you also give your custoRead more

    A life competition is very necessary and essential for our growth and also development.

    In any business you are doing when you don’t have competitors you don’t see the reason to innovate, a brand and also think very well to make things better.

    But when you have a competitor  you also give your customers a chance to choose which one they like weather.

    In the absence of a real competition it will be wise for you to create the competition yourself because it will make you not lose in the form of the market.

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  2. De Mogul
    De Mogul Expert Mind A student
    2025-08-15T22:19:28+00:00Added an answer on August 15, 2025 at 10:19 pm

    A healthy competition is needed in whatever we are doing in life to push yours to look for greater height. In the actions of any competition in the business you are doing it will be very wise for you to create the competition yourself so that your customers and also people who are not your customersRead more

    A healthy competition is needed in whatever we are doing in life to push yours to look for greater height.

    In the actions of any competition in the business you are doing it will be very wise for you to create the competition yourself so that your customers and also people who are not your customers already will patronize you because some wouldn’t like your first product for a particular reason

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  3. Augusta
    Augusta Enlightened Mentor
    2025-08-16T10:05:50+00:00Added an answer on August 16, 2025 at 10:05 am

    Competition in business isn't bad. It can be a galvanising force, covering how competition is a catalyst for growth, innovation and overall improvement Competition inspires growth, progress, and creativity. When things get competitive, you might take a bigger risk in the hopes of a big reward. You cRead more

    Competition in business isn’t bad. It can be a galvanising force, covering how competition is a catalyst for growth, innovation and overall improvement

    Competition inspires growth, progress, and creativity. When things get competitive, you might take a bigger risk in the hopes of a big reward. You can’t just stay the same and hope to keep your customers as times change and new names enter your industr

    There are different benefits of competition in business.Without competition companies get lazy and unresponsive to customer service which is the key to every successful company. Competition in business encourages innovation and motivates companies to create products people value at prices they can afford.

     

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  4. eldavis
    eldavis Enlightened Mentor Graphic designer
    2025-08-16T13:45:52+00:00Added an answer on August 16, 2025 at 1:45 pm

    While no one really likes competition, I believe competition is extremely important for growth. Competition is never pleasant but this often puts us in a lot of pressure to grow ourselves. When there is no competition, the business owner becomes relaxed, this state often limits the growth and potentRead more

    While no one really likes competition, I believe competition is extremely important for growth. Competition is never pleasant but this often puts us in a lot of pressure to grow ourselves. When there is no competition, the business owner becomes relaxed, this state often limits the growth and potential of the business.

    Competition often lets us know our limits, and helps us go beyond those limits.

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  5. Aphodia
    Aphodia Active Contributor I am a student
    2025-08-16T16:58:11+00:00Added an answer on August 16, 2025 at 4:58 pm

    Competition is what drives us to strive for the best. Competition is an important part of life that's makes us improve and become the better version of our selves. Without competition in a business there will be lack of innovation and quality of products and services. Therefore competition is essentRead more

    Competition is what drives us to strive for the best. Competition is an important part of life that’s makes us improve and become the better version of our selves.

    Without competition in a business there will be lack of innovation and quality of products and services.

    Therefore competition is essential in other to achieve excellent both in business and in every aspect or life.

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