Investment Guide Series : Bitcoin | Etheruem | Litecoin | EOS | Steem | and others | - Competitive and Collaborative Structures.

---

Overview

Competitive market has done more good to the growth and development of the global economy than bad. So it is advisable we embrace it more by collaborating with our competitors. It is assumed no one stands in the midst of a running crowd without bruises. Hope you don't intend to fall victim, but cooperate and enjoy the good fruits it brings?

Economists seeing the benefits of competitive market to the society, advanced to imbue into us the spirit of cooperation with each other. Competitive market is a market that allows larger numbers of producers and marketers to compete with each other with a common goal of satisfying varieties of human needs and wants.
In a competitive market no one determine the price of goods and services, it is a free and open market where everyone is allowed to participate and make contribution.
A competitive market looks out for competition in all aspects of life, such as creativity, strength, choice, vision, talents and extras to be explored and given its rightful position.

Collaborating With the Competitor

Gone are the days when people rejected the notion of a competitor in a business, or fretted over it. Now you can smile at the thought of having a competitor and revel in the advantages of having to embrace your competitor as the world grows into a global community. It was observed by researchers, producers and suppliers that those who have no competitors are now praying to have one so they can collaborate and achieve greatness. Thus, it is the way of getting a challenge done faster and cheaper.
Working with your competitor is a good economic model which enhances growth and development globally. You can grow your business by sharing knowledge and resources with your competitors. Collaboration is cost effective as you merge and share logistics with your competitors, making it a strong business tool.

Keep a Close eye on Your Competitor

Keep a close eye on what your competitor is doing no matter the nature of business you are into. This is very important for you not to be so far from the trend. Building an innovative culture requires that you strike a balance between learning from your competitors' mistakes and pushing ahead with ideas of your own.

Pay Attention to What Your Competitors Aren't Doing.

Find out the common weakness of your competitors and improve on it. This will put you ahead of them.

Improve on your competitors model

One of the the most common reasons that big players begin to fail is because of needless complexity. As their business expands their bureaucracies grow more complex and so do their processes and procedures, which directly affect the customers. So new entrants to the market should not be intimidated, but focus on meeting customers' needs.

Take a Step Forward on Investors /Customers' View of Your Competitor's Goods and Services

Make enquiries on your competitor's customers or investors feedback on the performance of the products or services. You can be an unidentified agent, ask them on the performance of the products and where they want improvement.
This process helped Samsung in the year 2012, in which they discovered their competitors' products did not connect with nature. They capitalized on it and came up with tablets and iphones with natural features.

Summary

For the purpose of macro economic considerations, competitive market is not one to sideline at all for the benefit it renders.
Competitive market helps individuals, cooperatives, companies and countries to evaluate, compare and contrast and build themselves towards attainment of growth and development.
As you collaborate, do not forget to protect your business secret which is the profit of an entrepreneur. Know what to reveal and what not to.

---

---

Images source google

---

---

I love

@masterwriter

---

---