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Is Competition Really the Problem?

Posted on June 19, 2022 by Ryan McAllister

The undercurrent in U.S. business today may well be one of fear and even desperation. It would be easy to make such an assessment based on the amount of phrases that have been written about the topic of competition. Firms in the United States have lost their advantage, if the flood of articles and reports on the topic are to be considered.

But is the issue really competition for clients or a share of the marketplace? Or is it something else?

A Focus on Scarcity

We can make a case that the real enemy of any company today is the focus on scarcity driven by fear. Fear of losing"the border," of losing perceived global leadership, of losing profits.

Of losing the company entirely.

When fear is our attention and scarcity our attitude, our perceptions of the world around us are skewed. We gather incomplete data about conditions because we have conditioned ourselves to see just a small part of the total picture. Poor decisions are the outcome, diverting our attention from the company's right and proper attention.

"However, what ABOUT the contest? Those folks are really out there, you know, and they are stealing our clients!" I actually heard someone use these keywords only last week. Yes, what about the contest?

If we concentrate on what our"opponents" are doing, we shift our attention from the real work and service of our companies. In reality, incorrect focus causes us to lose more clients to people we label as our opponents.

What Is Right Focus?

We specify right focus as:

- Attention to the needs of those you serve.

- Being clear about why you are in business to start with and about your company principles.

- Understanding and practicing what you do best every day.

- Devotion to client relationships and delivering value.

- By focusing on strong relationships with those we serve, we understand the issues they face that need solution. We listen and hear the demands of our stakeholders. Not only our investors, however, the investors attended in collaboration with our clients, employees, and the community where we work.

Another Look at Solutions

There is no question that U.S. companies need the sorts of abilities that well-educated men and women deliver. So, yes, let us inspire more students to study the sciences and engineering. And while we are at it, let us ensure they get the form of well-rounded education that helps them concentrate understanding issues and being of service to others.

For service is, in the long run, what business is all about.