Difference between revisions of "Competition"
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As an [[economic]] term, competition refers to the rivalry between firms to sell the [[goods]] or services they provide. Economists generally consider the level of competition in an industry to be intrinsically related to that industry's [[market structure]]. | As an [[economic]] term, competition refers to the rivalry between firms to sell the [[goods]] or services they provide. Economists generally consider the level of competition in an industry to be intrinsically related to that industry's [[market structure]]. | ||
| − | + | <blockquote> | |
| − | + | Who is your competition? The question seems so simple, but a company that defines its competitive set too narrowly can miss disruptive attackers and high-potential growth opportunities. [http://blogs.hbr.org/anthony/2008/11/who_is_your_competition.html] | |
| + | </blockquote> | ||
Revision as of 11:20, February 15, 2010
Competition is the effort of multiple independent parties working against one another to achieve a goal.
As an economic term, competition refers to the rivalry between firms to sell the goods or services they provide. Economists generally consider the level of competition in an industry to be intrinsically related to that industry's market structure.
Who is your competition? The question seems so simple, but a company that defines its competitive set too narrowly can miss disruptive attackers and high-potential growth opportunities. [1]