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Essay / Research Paper Abstract
This 3 page paper looks at the differentiation between competitiveness and competition explaining what each term means in a business setting and how they can be viewed. The paper then examines how they linked. The bibliography cites 3 sources.
Page Count:
3 pages (~225 words per page)
File: TS14_TEcomptitn.rtf
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Unformatted sample text from the term paper:
of competition and competitiveness we need to understand what these two words mean and how they are interlinked. There are several definition of competition that can be explored.
One of the most appropriate for business studies is "rivalry between two or more businesses striving for the same customer or market" (Dictionary.com, 2004). This is an interesting definition as
it indicates it is the rivalry to make the sale to the same customer. This extends the idea of competition to that which is common seen, for example, an airline
company may be perceived as having competition from other airline companies and a supermarket from other supermarkets and a hamburger chain with other hamburger chains.
However, models such as Porters Five Forces take the broader view, the same customer will have limited resources and the competition is for those resources. This
means competition may be on a like for like basis, for example, there may be competition between the different airlines on a like for like basis, but this is limited,
Porter argues for the influence of substitute products or services. These are services or products that will meet the same demand, deasire or need (Thompson, 1998). In the case of
air travel this is getting from one destination to another. A consumer may have other choices. This was seen following the event
of September the 11th 2001 when there was a strong decline in air travel and while many travellers may have cancelled their travel plans other choose different method of travel
such as rail travel of coaches. This demonstrated that the competition was for the traveller was not limited to only one segment of the travel industry, all were in competition
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