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Chapter 13. Analyzing and Evaluating Thi... > Competition, Sound Thinking, and Suc...

Competition, Sound Thinking, and Success

Businesses, in contrast to governmental agencies, have the “advantage” of needing to make a profit to survive. Unlike governmental bureaucracies, which become largely a world unto themselves, businesses must continually pass the muster of competition. Only a few, like large oil companies colluding on a world-wide basis to fix prices, are able to force everyone else to conform to their demands. Most businesses face genuine competition they must meet to survive.

For example, out of new (small) businesses, 3 out of 4 fail in the first year; 9 out of 10 over a ten year period. Failure is much more common in business than success. The market is a stern task master. This forces companies to do some critical thinking, at least enough to survive the competition.


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