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Does exposure to competition with the world leader in a particular industry improve a firm's productivity?...

Does exposure to competition with the world leader in a particular industry improve a firm's productivity? Discuss in detail by providing sound arguments to support your choice of response.

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Answer #1

I think the exposure to competition with the world leader in a particular industry improves the productivity of a firm. There are a number of reasons behind such an improvement in performance. Firstly, when exposed to competition with the industry leaders, a firm has better practices, systems, technologies, etc, to benchmark with. Such benchmarking can improve the productivity of a firm. In addition, the firm can also learn various aspects of business and adopt these learning into practices to improve performance. Secondly, getting exposed to tough competition makes it a matter of survival for a firm. Such an external threat encourages a firm to resolve and take appropriate actions to increase productivity and be sustainable.

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