Advertisements running in the news channels, magazines talking about companies , sport channels filled with myraid number of championships all suggest the impact of competition we have in our daily life. Competition has drastically changed the society and the industry. Competition is ubiquitous, there is no one who hasn't tasted what competition is. From a school kid to a CEO of a company every one knows how important it is. Competition is good as well as bad, it depends how human beings percieve it.
Competition motivates human beings to do their best. When a student is confronted with an exam he studies. If there were no exam then he would have been complacent and the learning wouldn't have happened.
Economics suggests that any competition is always better than monopoly. Competition in business is advantageous to consumers and producers. In India Aviation Industry was monopolised by Indian Airlines, which was costly and was out of reach of common man. With the advent of foriegn airlines entering the sector not only the cost of flights got reduced but also the services offered were much better. Producers try to reduce cost in order to cope up with competition. Recently Intel laid off many employees as a part of cost cutting, which happened due to competition.
Competition gives a benchmark for human beings to measure their achievements and advancements. In this pursuit of competing human beings find individuals with the same passion. This leads to knowledge sharing and learning. Healthy competition is necessary condition for the overall growth of the human beings and nation in general.
Every coin with head on one side has tail on the other. Competition may seem to be good but has many negative impacts on society. Conflicts in society is commonly seen due to competition. People tend to become overly involved in their pursuit to win that they start hating their competitors.
Zeal to win leads to malpractices. Many sports person seem to take narcotics, drugs and other performance enhancing substances to win. Maradona was accused of taking drugs in one of World Cup matches. Micheal Schumacher stopping his car in the mid of the lap there by eliminating the chances of his opponent Alonso to speed his car to the end of the lap. Sledging in cricket quite common. All these examples highlight the bad side of competition.
Competition is quite stressful. Students commiting suicide due to the competition pressure is not very uncommon in India. Employees working long hours trying to bring the product into the market before their competitor does, shows how stressful competition can become.
Competition is an essential part of our lives, we can't avoid it. Hence it can be concluded that competition is more beneficial than detrimental to the society.
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