Business Competition: How Connecting With Competitors Is Actually Good for Business

Business competition is the process of companies and individuals competing in the same industry or field. This sort of competition applies to virtually all businesses and employees. For instance, have you ever competed with a coworker for the same promotion? Signed a non-compete at a job? Even if you simply stopped using a competitor’s store, you were practicing business competition in your daily life. While these situations may arise because of competition in the workplace, it’s important to remember “competition” isn’t necessarily negative. In fact, there are ways in which this idea can positively affect employees and companies alike. In order to understand positive business competition, consider how it might apply to you. Picture, for instance, that you’re about to interview for a position. You’ve dressed the part, done the research, and over-prepared in every way. Well, almost every way. You weren’t prepared to sit beside another interview candidate—especially one interviewing for the same position. And you definitely weren’t prepared for the candidate to talk to you. In this type of situation, you must make a fast business decision. How will you engage your competition?