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Post by David Wyld on May 27, 2013 20:04:27 GMT -6
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Post by franklinvazquez on Jun 21, 2013 9:10:12 GMT -6
Instant MBA: You Benefit When Your Competitors Do Well
To gain competitive advantage, a firm needs to create an innovative good or service that is in demand, and therefore, satisfy the needs of a defined target market. I agree that a business can benefit when competitors do well because this fosters further innovation and creativity, which results in better products. Firms should always challenge themselves and come up with new ideas. However, I don't think that in most cases a good business is just to follow the steps of a successful company. In my opinion, a firm needs to find ways to make similar products somehow more appealing and innovative, so the entire existing market can find benefits that are beyond expectations.
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Post by neilthompson on Jun 23, 2013 8:25:33 GMT -6
Instant MBA: You Benefit When Your Competitors Do Well
I do believe that you can benefit when your competitors do well. As stated in the article, you can study their business model and learn from it. As you analyze what has helped with their success, you can look for new creative ways to go to the next level and drive your successes higher. It is important to used their success to help drive your learnings and not get hung up in a winner take all way of thinking.
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Post by blaine on Jun 25, 2013 19:08:49 GMT -6
I belief that competition is a good thing. It allows people to work harder and provide better services. I do also agree with the article because if you rival is successful it means that there is a demand for their service or product and that their business model is working. This can allow your company to strive to work harder and reinvent yourself to keep up with the competition. This also allows for a competitive market which benefits the buyer.
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Post by elvia on Jun 28, 2013 9:30:07 GMT -6
Instant MBA: You Benefit When Your Competitors Do Well
Though I don't believe this is something a company should always rely on, I do agree that a company can benefit from their competitors success. If your competitors are successful with a product or service your company can benefit from this success by taking that product or service and innovating it to make it better. As the article mentioned, if your competitors have found success with a product this would make it easier for you to convince your own investors to buy into something similar. As a business owner it is very important to be creative and innovative, so if a competitor doesn't do so well you will always have something to fall back on.
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Post by maryhilse12 on Jun 28, 2013 20:40:21 GMT -6
INSTANT MBA: Don't View An Issue As An Isolated Problem
Issues need to be addressed by all levels of the company. Isolated problems don't usually have isolated solutions, you need to get all departments engaged in fixing it. Talking about a problem doesn't get it fixed, action needs to be done and verified that it fixed the problem. So many times, follow up is neglected and the isolated problems return. Addressing the isolated problem sooner than later will cause less friction fixing it.
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Post by jalesianelson on Jun 29, 2013 8:13:35 GMT -6
Instant MBA: You Benefit When Your Competitors Do Well I have mixed feelings about this article. My first thought was, ‘how do you do benefit from your competitor’s success?’ I now understand what the article is explaining, but I do not firmly agree with it. From my understanding, this article saying that a competitor’s success is setting the stakes for you to outshine them eventually. While that may be true, why not set the stakes yourself? Why not aim to be the first and best at something, instead of waiting for someone to create a vision to use as a guide? I know that being the best at everything is impossible, but there is nothing wrong with giving it your best shot. I do not agree with this article, but I do understand the valid points that were made.
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Post by mda1287 on Jun 29, 2013 17:22:57 GMT -6
Instant MBA: You Benefit When Your Competitors Do Well
I agree with this in that you want your competitor to surpass you and then incorporate those ideals into your own company. Well, you don't have to take their own ideals, but keep them similar and then build them up in your company. It takes a lot to keep your company afloat, and making them similar to your competitor is important. You are able to make similar advertisements and tweak them to steal some of the competitors customers. You must have a sense of professionalism whenever your pulling the carpet from under the competitors feet.
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Post by lakeishabrooks on Jul 1, 2013 11:23:39 GMT -6
Instant MBA: You Benefit When Your Competitors Do Well
While it might seem important to out to your rivials, the success of your competitors is actually good for you and your company because you all can come up with ideas and take stuff from each other that can help your business grow. As long as your competition is in business that means that your business it still needed. All I can say is if you can not beat them join them. The more competition you have the more it drives you to do better and be more innovative.
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Post by Deleted on Jul 1, 2013 20:10:44 GMT -6
Instant MBA: You Benefit When Your Competitors Do Well
When competitors do well, they do half the work for you. Customers here about the product they are selling, do a little research and find out that you are selling a similar product. Keeping good customer service and high standards is what keeps businesses open. Having competition is what keeps your business open as well. When other people find out about your product without you having to spend money to educate them on it, it is a win-win situation.
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Post by kylekling on Jul 2, 2013 12:46:28 GMT -6
Instant MBA: You Benefit When Your Competitors Do Well
Competition drives success. When I was growing up my soccer team always played two age groups up. It was tough and we would get beat at the beginning but when we got older we were much better because we always played bigger and faster competition growing up. You want your competitors to succeed to a certain point because then it pushes you to work harder and come up with new ideas. If you have no competition then you might have a tendency to lay back and not work hard.
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Post by harrisonrainwater on Jul 2, 2013 14:52:15 GMT -6
Instant MBA: You Benefit When Your Competitors Do Well
Competition does great things for business. It creates a sense of who can out do the other in the terms of providing services which boosts growth all around. Even if you are being out competed by a rival company, positive things can be taken away from it such as business models that work. You will surpass your competition in time, but the best part is that when you do, they will work to surpass you and vise versa.
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Post by melissacantrell on Jul 2, 2013 20:58:08 GMT -6
Instant MBA: You Benefit When Your Competitors Do Well
I believe that competition is healthy and important for a business. There is a reason that monopolies are illegal and every business has a chance to succeed. If you didn't have competitors there would be no trends to follow. Also, not having any competitors may lead to more customers then you can handle. Competition also helps to keep businesses on track with doing their best. If you have competition you are likely going to strive to be the best. This will lead to great customer service, high quality products, and an overall better performing business. I work at the Raising Cane's in Slidell and we are next to a Chickfila and a KFC. This does not hinder our business but helps us to strive to be the best in order to keep our customers and remain profitable.
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Post by scotthunt13 on Jul 2, 2013 21:27:54 GMT -6
Instant MBA: You Benefit When Your Competitors Do Well
I do believe that competition is good for business but I don't think you should rely on being able to beat them with everything. Not everything you do will be better than your competitors; you should find what you are better at and continue to push it to give you greater profits. You could also take the same products that your competitors are selling and try to improve them to make them look better to customers. Not every business can survive from having competition; to me it deals more with what the customers prefer.
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Post by leannthompson on Jul 3, 2013 17:05:46 GMT -6
Instant MBA: You Benefit When Your Competitors Do Well
I like the different perspective of this article because I agree with it most people get caught up in beating their competitor instead of learning from them.If your competitor tries something that you were considering doing and fails you can learn from their mistake as well. Now you know what now to do and have a better chance at being successful.
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