Competition Among Businesses Help Satisfy Customers

The transcript discusses the importance of businesses keeping up with competitors in terms of price, quality, and service to remain viable. It highlights how competition benefits customers by offering lower prices, higher quality, and improved services. A business that manages its finances well and makes a profit is considered healthy and can provide benefits to employees, shareholders, and customers.

What happens to a business that fails to maintain competitive pricing, quality, and service?

In what ways can a profitable business provide benefits to its stakeholders?