Businesses, like runners, thrive on competition – at least, most do
Competition is essential for businesses to thrive, similar to how runners benefit from rivals. Healthy competition drives companies to improve their offerings and lower prices for consumers. However, when competition is weak, both customers and many businesses suffer.
- ▪Businesses perform better when they face competition, which encourages them to innovate and improve.
- ▪Consumers benefit from competition as it leads to lower prices and higher quality products.
- ▪Weak competition can result in negative outcomes for both customers and businesses.
Opening excerpt (first ~120 words) tap to expand
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Excerpt limited to ~120 words for fair-use compliance. The full article is at The Sydney Morning Herald.