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Post by clayb1919 on Nov 10, 2013 22:37:41 GMT -6
Competitors aren’t all bad. This link tells us to be aware that competitors aren’t going to just give up so it’s best to use them to your advantage. I agree with this because It’s almost impossible to be your only competition. Better to stay positive and make the most out of your competitors instead of completely trashing them.
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Post by jameciadavis on Nov 11, 2013 0:27:33 GMT -6
Instant MBA: You Benefit When Your Competitors Do Well
I agree with Mark Davis when he say that "While it's important to outdo your rivals, the existence or success of competitors is actually probably good for you and your company." Your competitors' success can benefit you in a number of ways, such as proving that a business model works and therefore, making it easier for you to convince your own investors to buy into something similar.
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Post by w0426116 on Nov 15, 2013 21:54:00 GMT -6
#48
I couldn’t agree more with Davis’ quote: "Face it. Since your competitors are probably not going to wake up one morning, give over their customers, and leave the market, you'll be better off if they succeed to the point that you can then beat them.” There should always be someone out there to push you to be better. I feel if you’re on top with no competitors, than you might get too relaxed and fall off and have the opportunity for someone who is hungrier to replace you.
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Post by datren on Nov 25, 2013 11:32:59 GMT -6
Instant MBA: You Benefit When Your Competitors Do Well
This article is correct and misleading at the same time. I agree that if a company is new and is benchmarking their successes from the competition then the better the competition, the better the industry, the better the business for every company in the industry. However, if a company is in a highly monopolized industry then the more success the competition has in contrast to that company then the less success that company enjoy. A good business plan that is unique to the company should enough to help any business reach its goals of success.
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Post by rpajares41 on Dec 6, 2013 13:37:14 GMT -6
I agree with this article because when competitors defeat you , in a sense, it allows for everyone else to see how the company did what they did and allow for a sort of catch-up. When the iPhone came out it was the very top tier of mobile devices. Since this occurred the iPhone hasn't been as popular because the other companies caught up to their idea and started building upon it. Being able to stand on the shoulders of others allows for further development of the idea. After hearing feedback from customers I'm sure the other companies jumped on the flaws and made their product strong in these areas. We have computers in our pockets, so why not have the battery last for days? That is what other companies started to do with their smart phones, however, thanks to the iPhone we have what we have today.
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Post by kristin on Dec 7, 2013 23:39:49 GMT -6
Instant MBA : You Benefit When Your Competitors Do Well
This was an interesting read. Kohort cofounder Mark Peter Davis explains that it’s good to have competitors in the market. It proves that a business model works and therefore, making it easier for you to convince your own investors to buy into something similar. I agree. Also the more competition means the more potential customers are out there ready to buy your products if you have a competitive edge.
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Post by thomas129 on Dec 10, 2013 15:47:35 GMT -6
48 Instant MBA : You Benefit When Your Competitors Do Well
Mark Peter Davis explains that it’s good to have competitors in the market. It proves that a business model works and therefore, making it easier for you to convince your own investors to buy into something similar. This makes since because if they see that an idea has worked in the past it is more likely it will work again. Also, if you have a superior product than your competition than you have a great advantage in the market once you get into it.
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