Tuesday, October 27, 2009
Competition
It would seem pretty logical that competition is a good thing not just in sporting event but in business as well. It might also strike some as funny that the government actually has a bureau within the FTC which attempts to regulate it. The government does seem to be everywhere these days. Here's how they descibe what they do:The Federal Trade Commission's Bureau of Competition champions the rights of American consumers by promoting and protecting free and vigorous competition.The Bureau: reviews mergers and acquisitions, and challenges those that would likely lead to higher prices, fewer choices, or less innovation; seeks out and challenges anticompetitive conduct in the marketplace, including monopolization and agreements between competitors;promotes competition in industries where consumer impact is high, such as health care, real estate, oil & gas, technology, and consumer goods; provides information, and holds conferences and workshops, for consumers, businesses, and policy makers on competition issues and market analysis.Why can't we all just get along
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For competition to work best in business it I agree with economist Milton Freedman in that we be "free to choose" and in this regard the government that governs best governs least
ReplyDeleteBest comment I heard recently about what the government should be doing with its time: taking care of our national defense and building and maintaining our public roads. All things being equal, that would leave a free economy to do what it does best: foster healthy competition.
ReplyDeleteFor businesses to remain competitive, business people need to embrace the old and the new. The old methods of one to one, word of mouth marketing are best served by working with Groups like BNI. The new methods of social networking are best served for business by, linkedin.
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