COMPETITORS IN A BUSINESS ENVIRONMENT; A MOTIVATION FOR BETTER PRODUCTS
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COMPETITORS IN A BUSINESS ENVIRONMENT; A MOTIVATION FOR BETTER PRODUCTS
ABSTRACT
This study looked at rivals in a business setting as a motivator for improved products – a case study of the communications market. The research was descriptive in character and used the survey research design method. The data used in the study came from both primary (questionnaire) and secondary (published materials) sources.
The study’s demographic included all telecommunications workers in Akwa Ibom State, as well as GSM phone users. The sample size of one hundred (100) respondents was determined using the convenience sampling technique.
The data collected was organised into tables and examined using a simple percentage statistical procedure. The study found that competition is a normal element of a free-market economy.
The study concluded that robust competition, in addition to driving the production of high-quality goods and services, serves as a check and balance in the business.
The study concluded that the government should establish a functional regulatory framework to control competitors’ activity in the business. The study concluded that the government should implement a functioning regulatory framework to limit competitors’ activity in the business environment.
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