Competition is at the heart of capitalism. Even if you think there are better ways to set
Question:
"Competition is at the heart of capitalism. Even if you think there are better ways to set up an economy, you can't deny that competition motivates people to work harder. It forces businesses to innovate their products.It inspires team spirit among employees at a company. A lot of teams bond through having a common goal. One of those goals could be surpassing the competition in sales, new customers, or market share. Your employees, especially if they work on commission, will be more motivated to keep customers when there's more competition around them. When competition comes up with a new product, marketing technique, or way to run their business, it keeps your company on its toes and moving towards innovation. Competition inspires growth, progress, and creativity. When things get competitive, you might take a bigger risk in the hopes of a big reward. You can't just stay the same and hope to keep your customers as times change and new names enter your industry." (Anon, 2022)
Discuss the major influences that Operations has on Competitiveness?