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Competition: Good or Bad?

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Do you think overall, businesses should work together strategically rather than as competitor. For Example Pepsi and Coke a Cola, Airline Carriers Emirates and Qatar Airways. Can competition create and promote good business among all industry? Do the advantages out way the disadvantages? How do consumers fit into this?

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Business exist for the purpose of making money. Though many businesses give back, ultimately businesses work for profit. Profit is the driving force of any business. Profit is necessary for an organization's vitality. As within all business, unless a similar product is not development, competition is inevitable. Furthermore, competition is essential for all businesses. A recent article by Godfrey (2008) explained that competition is not only essential for business, but also for the elimination of poverty and increased economic growth.

There are a number of reasons why competition is ...

Solution Summary

This solution provides information regarding the various benefits and drawbacks of business competition using scholarly references. 342 words.