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Business strategy
Why competition is an inevitable feature of a business.
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[QUOTE="Mikes smithen, post: 308697, member: 90053"] Business competitors are companies or individuals that operate in the same market and offer similar products or services. They are competing for the same customers and aiming to capture a share of the market. Competitors can be direct, meaning they offer the exact same products or services, or indirect, meaning they offer substitute products or services that could potentially replace what a business is offering. In most cases, competitors cannot be evicted from the market. Business competition is a natural part of any market economy, and it is up to individual companies to compete effectively in order to succeed. However, there are certain situations where a company may try to limit competition. For example, a company may try to monopolize the market by buying out all of its competitors or engaging in anticompetitive practices. In such cases, there are laws in place to prevent unfair competition and protect consumers. In the United States, the Federal Trade Commission (FTC) is responsible for enforcing antitrust laws and preventing monopolies. The European Union also has strict laws regarding competition and has a dedicated competition authority to enforce them. However, while businesses cannot evict competitors from the market, they can take steps to differentiate themselves and compete effectively, such as through innovation, marketing, and customer service. [/QUOTE]
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