Competition is the keen cutting edge of business, always shaving away at costs.
About this quote
- What does it mean?
- Competition forces businesses to reduce costs and improve efficiency continuously.
- In plain terms
- Competition cuts costs by forcing businesses to be efficient.
- What can you take from it?
- Use competition to drive efficiency and lower costs.
Where it applies
Putting it to work
Questions to consider
- Does competition help or hurt you?
- How do you reduce costs without losing quality?
Another view
Excessive competition can sometimes lead to lower quality or unsafe practices.
More from Henry Ford
Coming together is a beginning; keeping together is progress; working together is success.
Permalink to quote #20 Don't find fault, find a remedy.
Permalink to quote #22 Chop your own wood, and it will warm you twice.
Permalink to quote #19
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