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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.

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Babies R'Us Case Study

You have been hired as a strategic consultant by the hugely successful retailer "Babies R'Us". The company sells many products, although one product in particular, a highly innovative car seat, is being test marketed in various domestic and international markets. "Babies R'Us" has hired you to help them better understand the test market data they have compiled from 400 retailers worldwide (found in the excel file called "CarSeats.xls"). The variables in the data set include:

Unit Sales = the number of units sold (in thousands),
Competitor's Price = the price for a similar product being sold by a competitor (in dollars),
Income Level = average household income in the region (in thousands of dollars),
Advertising = amount spent on advertising the product (in thousands of dollars),
Price = the price being charged by your company (in dollars),
Population = number of people (in thousands) living in the region,
Average Age = average age of the population in the region (in years),
Average Education = average educational level in region,
Shelving location = quality of the shelf location for your product (good, medium, or bad), Urban or Rural = description of the region as urban or rural, and finally,
US = a categorical variable indicating whether the sales region is in the US or an international market.

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