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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