HOW COMPETITION DRIVES BUSINESS TO DISARRAY??
Journal Title: ICTACT Journal on Management Studies - Year 2017, Vol 3, Issue 2
Abstract
Competition brings the best out’ is an adage. We have had instances wherein few businesses benefitted from the intense competition, few acquired a gradual death and few an instant death. Today, competition has not gone well with many companies, who eventually failed to turn it in their favour. But, consumers surely have had a sweet bite in majority of the cases. This research article brings out the truth about the competition; how companies take competition, how is their preparedness to tackle competition, what an intense competition is likely to cause. Nowadays average firms react sharply to the competition. “The granddaddy of all mistakes is competing to be the best, going down the same path as everybody else and thinking that somehow you can achieve better results”, says Michael Porter in his book “Essential Guides to Competition and Strategy”. Firms tend to be reactive and act instantly while dealing with competition. They formulate strategies to garner immediate increase in sales, thereby compromising on fundamentals. If they do so, their ideology suffers, the principles on which they are built shatter. The infrastructure might start collapsing, resulting in betrayal of customers’ trust in the long run. The research article examines various strategies used by two different firms and the results obtained thereafter. Firms have traditionally treated the strategies as the function of competition. The outcome of such strategies followed in line with the competition is unsettled results, inconsistent performances, loss of market share, etc. This cannot be substituted with disruptive approach for the very reason of it being unsustainable.
Authors and Affiliations
Nagendra Hegde
Keywords
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- EP ID EP372792
- DOI 10.21917/ijms.2017.0067
- Views 118
- Downloads 0
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