Sign Up Now
Get instant access to over 1 million+ study documents
OR
Already registered? click here to login
By creating your account, you agree to our terms of service, privacy policy and student honor code.
Competition is a reality of the business world that cannot be escaped. Indeed, it is one of the key factors that a company needs to consider when starting a new business. Thorough research is required to determine the level of competition, and whether this will be a significant threat to the new company. If the threat is too high, the new company needs to either strengthen its strategy, seek another market, or another location for the start of its business. Certain markets for example feature a very high level of competition and are therefore almost impossible to enter. If a company could however find a unique angle for its product, it could on the other hand eliminate most of its competition.
Competition is however not only negative. For the existing company, competition is a healthy driver towards better products, customer service, and ultimately higher profits. This occurs when an existing or new competitor finds a unique angle for its market. A car manufacturer can for example furnish its product with a unique new alarm system, which other manufacturers will then attempt to imitate or mitigate by improved, cheaper systems of their own.
While competition can therefore be favorable for both the manufacturer and consumer, it could also be beneficial for the economy in general. In addition to providing better quality and service, the competition in the motor industry for example creates an environment in which the consumer receives the best value for money. A wider variety of choice provides the consumer with many different options in terms of safety, aesthetic quality and pricing.
In terms of job creation and provision, competition relates to compensation and bonus packages. Workers are attracted to motor companies with the best package available. Employees are attracted by packages including elements like bonuses and other incentives for excellent performance. In this way, competition results in a healthy, growing economy.
Source
Isidore, Chris. (2000, Dec. 12). "Ed of the road for Olds." CNN Money, 12 Dec. 2000. http://money.cnn.com/2000/12/12/companies/oldsmobile
Some shows are more palatable than others. The contest shows such as "America's Top Model," or "American Idol" are in general less about interpersonal problems and more about the competition. However, shows like "Nanny 911" or the various wife-swapping shows depict so much screaming and shouting that they fail to be enjoyable to watch. "Survivor" and "The Amazing Race" include a lot of bickering and most likely the editors of
Realities of Competing in Global Markets Environmental challenges associated with the transition to a global company The implementation of the global markets is a lucrative field that desires considerable attention within the transitional phases of a business. The global strategies and avenues of handling businesses are central to the future existence and survival in the market. Many local companies have been in the market for a period but have not had the
The creative ways in which the varied direct involvement aspect has been included by producers in the genre also has to do with technology. Programs where the audience participates in decision making, like when the audience chooses a winner in a program via voting on site or by cell phone text messages are common, as are other audience participation tactics, like on new themed game shows when the audience
, 2005; Biddle et al., 2009). Companies with more accurate financial reporting and greater control over reporting activities tend to perform better and demonstrate greater cohesion in their operations, as well, and also tend to lean towards more consistent profitability and stability, in addition (Graham et al., 2005; Doyle et al., 2007; Doyle et al., 2007a). Investment levels in firms with more consistent and accurate financial reports were also found
reality globalization interdisciplinary perspective. Concretely, means analyzing a variety phenomena globalization process, economic, political, social, cultural psychological aspects reality, extent . Globalization has become such an important world in defining the way in which economies and countries develop that an actual definition of the term itself is no longer sought. It represents nowadays a terminology that entangles the entire array of economic, political, social, and cultural elements of life at
" (Bawer, 2005) Thus, culture and a higher cost of going out both come into play. Europeans have more health care and social services than Americans, but they still also pay more in taxes. True, they have better public transportation as well -- but gasoline (in this oil-exporting nation) costs more than $6 a gallon. Bawer's greatest complaint was his lack of ability to have an exciting nightlife at a decent