Introduction to entrepreneurship/IENT101/Before/Competitive

“You can't look at the competition and say you're going to do it better. You have to look at the competition and say you're going to do it differently.” - Steve Jobs

Many businesses offer the same product. You, the consumer have a choice. That choice will be influenced by a number of things, such as price, service, reputation, and image.

Why do entrepreneurs need to consider the competition?

Have you given any thought to who your competitors are?

Required reading

1. Read Competitive intelligence
2. Think about competing interdependent firms you come across every day. These examples were given in the text:
   • Coke / Pepsi
   • Honda / Toyota
   • Boeing / Airbus

WEnote

Think of five more competing interdependent firms.

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