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Competition in business is the battle between businesses and consumers

in the winning of each other's acceptance as well as loyalty.

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We believe that competition provides a balance between consumer rights and business interests.

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Companies who have low personnel numbers but do outnumber the MNC's.

Responsible for driving competition and innovation.

Usually based in one country.

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A company that has operations/footings in more than one country.

Plays an important part in globalisation, integrates products, ideas and culture.

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1. Analyze your target market and identify your competition.

2. Learn from your competition and your customers

3. Create an “Economic Moat" (take advantage of barriers to gain entry into the market.

4. Stay on the cutting edge (maintain your performance, if not make it better)

5. Use Business Information Resources (be sure to research and receive reliable info)

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Competition in business has four types which are: pure/perfect competition, oligopoly, monopoly, monopolistic completion.

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What happens when there is no competition?

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What happens when there is no competition?

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when there is no competition and one company has taken over the market, customers might be exploited and forced to pay an outrageous sum, due to the fact that they cannot go to another company for the same product.

The main company may also prevent other smaller companies from coming into the market.

If there is no competition, consumer rights, such as the right to know, will be ignored in favour of business interests.

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-Balance between consumer rights and business interest

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-Balance between consumer rights and business interest

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* Usually business depends on making their reputation and maintaining the trust of the costumer.

* Business employees often going in minimum legal way to get costumers.

*Therefore almost all product which they sale is resources in order to win and retain consumers. Also to have competitive edge.

Consumer satisfaction and confidence:

-Business employees should respond to their consumers and evolve constantly with their needs. Costumer should be able to buy their need without any dangerous income or dishonest practices, disrepute trades.

Labelling and legislation:

-Consumer legislation proposals must provide opportunity for businesses, as unnecessarily regulations result in good and high compliance costs and higher prices for consumers. The current confusing and contradictory labeling requirements need urgent and immediate review.

Consumer redress:

- Any proposal on consumer redress must be efficient, practical

and recognise that most problems are settled straight between customers and businesses.

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-Business interest is deductible as an ordinary business expense. 

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-Business interest is deductible as an ordinary business expense. 

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-If a company takes a loan, the loan must be used to either purchase assets for the business or pay for business expenses

-If the amount not used for business purposes, the loan,

and the amount of deductible interest from the loan must be reduced proportionately.

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-Effects of Competition ( Negative \ Positive)

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-Effects of Competition ( Negative \ Positive)

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Business competition can't produce positive effects, only negative. But if businesses are succesful there might be lots of positive effects.

- Negative effects:

* Customers are one of the major negative effects. Usually in a company or an organization, they only have a small number of customers. All businesses are competing for costumers. So the more businesses there are, the less market share there will be.

* Resources are also playing a role in the negative competition. If there is a limited supply of raw materials, or skilled, professional employees or any other resources, companies will have more competition. The company will be competing more to provide those resources, making them more and more expensive.

* Small prices. If a company competes with another company, it can lower their prices in business. It is a negative effect because employees will have a smaller income.

- Positive effects:

* More costumer satisfaction. Business' low prices will bring in more costumers.

*More efficient products. If company have many costumers involved, the sales of products will be more efficient.

*Economy. Companies will get more profit from many costumers and a successful economy will be developed

* High employee remuneration. If company will give more payment or remuneration to employees, they will concentrate more and strive to be successful in their jobs. Good employees will give more profit to business.