Competition: Unlocking the Power of Competition, Strategies for Success and Innovation

By Fouad Sabry

What is Competition

Competition is a rivalry where two or more parties strive for a common goal which cannot be shared: where one's gain is the other's loss. Competition can arise between entities such as organisms, individuals, economic and social groups, etc. The rivalry can be over attainment of any exclusive goal, including recognition.

How you will benefit

(I) Insights, and validations about the following topics:

Chapter 1: Competition

Chapter 2: Game theory

Chapter 3: Microeconomics

Chapter 4: Monopolistic competition

Chapter 5: Oligopoly

Chapter 6: Strategy

Chapter 7: Industrial organization

Chapter 8: Collusion

Chapter 9: Product differentiation

Chapter 10: Competitive advantage

Chapter 11: Porter's five forces analysis

Chapter 12: Anti-competitive practices

Chapter 13: Barriers to entry

Chapter 14: Managerial economics

Chapter 15: Experimental economics

Chapter 16: Market power

Chapter 17: Non-price competition

Chapter 18: Market structure

Chapter 19: Market (economics)

Chapter 20: Competition (economics)

Chapter 21: Hypercompetition

(II) Answering the public top questions about competition.

(III) Real world examples for the usage of competition in many fields.

Who this book is for

Professionals, undergraduate and graduate students, enthusiasts, hobbyists, and those who want to go beyond basic knowledge or information for any kind of competition.

• Language: English
• Publisher: One Billion Knowledgeable
• Release date: Jan 14, 2024

Book preview

Chapter 1: Competition

When two or more entities engage in competition, it is because they are engaged in a rivalry in which one entity's gain is the other entity's loss (an example of which is a zero-sum game). Various types of entities—organisms, individuals, economic and social groups, etc.—can engage in competitive interactions with one another. It's not necessary that fame be at stake in the competition.

It is natural for organisms to compete with one another when they share a habitat. Animals compete for scarce resources like water, food, and mates. In a static, repetitive, or unchanging environment, human rivalry typically centers on the pursuit of food and mates, but once those needs are met, competition shifts to the accumulation of wealth, power, prestige, and fame. Companies are typically in competition with at least one other firm for the same set of customers, making competition a central tenet of market economies and business. When employees within a company are encouraged to compete with one another, it is typically for the greater good of providing better services or developing more advanced products.

People tend to view competition as diametrically opposed to cooperation, but in practice, cooperative and competitive dynamics are almost always intertwined. Game theory is a subfield of mathematics concerned with finding the most effective means of achieving one's objectives.

Many academic disciplines have devoted time and energy to investigating the phenomenon of competition. For instance, social psychologists investigate rivalry and its causes. They look into what motivates people to compete and what conditions encourage it. They also examine the dynamics of groups to understand the causes and consequences of competition. Meanwhile, sociologists investigate how rivalry influences social structures. Anthropologists also research the origins and development of rivalries in various societies. They also look into the evolution of competition and the historical manifestations of it in various cultural contexts.

One of the most significant driving forces in ecology and other branches of biology is intraspecific and interspecific competition.

Competitions or lotto in Australia, New Zealand, and the United Kingdom are the equivalent of sweepstakes in the United States. Consumer competitions in Australia are officially known as trade promotion lotteries.

Comparison or advertising Participants in a lottery typically do so in the hopes of winning one or more of the available prizes.

An advertising campaign A lottery or competition is a lottery with free entry that promotes a company's wares or services. When you make a purchase, you may be eligible to enter a lottery for a chance to win a prize. Lottery, competition, contest, sweepstake, and giveaway are all terms that can be used to describe a trade promotion lottery.

Such contests may involve a mix of chance (through a random drawing) and skill (through evaluation of an entry question or submission).

The term compers is used to describe those who like to compete in various events. The annual national convention is a must-attend for many compers. More than a hundred people from all over Australia who were active in the online competitions community of lottos.com.au in 2012 gathered in Gold Coast, Queensland to do so.

Many philosophers and psychologists have pinpointed a characteristic shared by all organisms that can motivate them to engage in competitive behavior. The need for survival is seen as coexisting with competitiveness, a trait that is considered to have high adaptive value. However, in modern English, aggressiveness and ambition are often used as synonyms for competitiveness or the desire to compete. As a means of dividing up resources and staying flexible, more developed societies encourage aggression and competition among their members. Sunlight is a scarce resource, and many plants compete for it.

The term is used in econometrics as well. Here, it's a metric for evaluating how well one company or industry segment is doing in terms of sales and production/supply in a particular market. In academia, the Structure Conduct Performance Paradigm and the more recent New Empirical Industrial Organisation model are the two schools of thought used to measure competitiveness. The ability to foresee shifts in industry competitiveness is emerging as an explicit and integral part of public policymaking. Businesses' primary motivation in capitalist economies is to increase their own