Competition is Good

Competition is part of living in a free market society, and it is, in general, a good thing. It encourages people to be their best, because if not, someone else will come along and take opportunities.

If we want to compete with someone else we have to grow. There is no way around it.

competition

The great thing about having competitors is that we have to be more innovative. We have to think outside the box and go after new options in order to get ahead. There just wouldn’t be the need to develop new things and go out in new directions if competition wasn’t a factor.

Having competition makes us more goal oriented. We want to achieve more things and do more simply because we can grow ourselves compared to other people. Take away competition and we become lazy, and it becomes harder to motivate us. Competition is one of the forces that drives us to achieve.

On the other hand, competition is good for the economy. It is good for consumers. Think for a moment about the alternatives to competition. A monopoly would have no reason to keep prices reasonable. If they are the sole supplier then there’s no reason they’d want to sell low.

Competition is a good thing. It’s about finding out how well we can do something under pressure. It’s about challenging ourselves to get better. It can be about working together with others to accomplish a goal.

Summing-up: Competition simply means there’s a market. And where there’s a market, there’s customers. And where there’s customers, there’s a shot a success. Don’t fear competition: welcome it and leverage it.

These notes have been taken from:

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