Question

Discuss the advantage and disadvantage of competition

Answer 1

Not everyone thrives on competitive scenarios. As a business owner, you need to find the fine line between motivating employees and discouraging them through workplace competition. Some areas of the business, such as sales, come with innate competitive qualities. A competitive workplace could involve incentives such as awards and bonuses or it could revolve around standing out to be the next in line for a promotion. Either way, good business leaders keep a pulse on the competitive dynamics in the office to exploit the advantages and to mitigate the negative effects.