The double edged blade: Why ”Competition” can be vital for your business’s survival |#eBizEntrepreneur | Banele Rewo

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In many ways, the business world mirrors that of Nature: kill or be killed.
Whilst the ultimate fate of a company comes down to this fact, the in-between bit (where the company will operate the majority of its existence) turns out to be far more grey, just as in nature again!

Complex relationships exist in both the business environment and nature: Food webs between predators and prey are a great metaphor –
The predators hunt the prey, ensuring their own species survival whilst also weeding out the ”weak” members of the prey population, ensuring a constantly trimmed prey population has more resources to distribute amongst itself.

Similarly in business, competition ensures creativity and innovation, helps you fight costs (thus keeping your product/service more affordable), source new forms of technology/production and generally keep your business optimized for best possible performance.
In industries where a Monoploy exists, gross inefficiencies exist due to the lack of competition, as is often the case with state owned enterprises, this is one of the reasons why many economists favour private owned enterprises except where absolutely necessary…

More details in the Podcast.

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Banele Rewo in conversation with eBizRadio’s Nick Snow
Podcast | Click HERE to listen

 

Banele Rewo is Creative (re)Director of Authentic Creatives. A creative strategy, outdoor media and product placement company specialising in the urban African market. Banele joins us once a week for #eBizEntrepreneur.

 

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eBizRadio

eBizRadio

eBizRadio is a live multi- platformed social media service providing an online forum to the business community for holding conversations on the key issues related to specific businesses as well as availing a space for cross-business collaboration in response to key issues affecting the world of business. The place to go if you want to know about business and lifestyle

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