The Importance Of Competition In Africa

1301 Words 6 Pages
Competition exists in every field. In the business world, competition is the major factor that causes rivalry among investors. Competition can be the key to investing in different enterprises. It allows diversification of products and services which is healthy for the world’s economy. Besides improving economy, competition leads to satisfaction of clients in different perspectives. Wearing of what competitors can achieve helps the company to know how it should develop its current business. Moreover, competition allows an investor to focus on the core competencies. In other circumstances, competition leads to the exploration of new business ventures when a specific market is saturated with a specific product (Ambec, Cohen, Elgie & Lanoie, …show more content…
For starters, the major issues facing African countries currently include terrorism, lethal diseases such as Ebola and Cancer, theft and road accidents. Africa has not yet been supplied with these products like other continents. Also, there is a great demand for robotics in Africa. More than 60% of Africa’s population own vehicles hence the vehicle robotics will sell at large. In conjunction to that, road accidents occur every month due to alcoholism while driving in African countries. In 2015, the death toll due to alcoholism was at least 2000. The introduction of robotics in this region would reduce the mortality rate. It would be a great deal for the nation. Also, Africa uses English as an official language which makes it a top priority when compared to other regions. Consequently, it will be easier for the company to communicate with the clients (Sudhanshu, 2015). In conjunction to that, English being a common language in Africa will make it easier to secure a potential partner and other local individuals that will be useful when marketing the …show more content…
A business model will define the way that we will deliver our products to customers, how the customers will pay for the products and how profits will be made out of the payments. For starters, the company should acquire manufacturers, distributors and retailers to assist with distribution of products to customers. In relation to that, local franchise will be our best distributors because they understand the market better than anyone. A local producer is the most important because a local manufacturer can produce and distribute the products at the same time (Gasper, 2016). Once the company acquires a local manufacturer, finding local reliable distributors and retailers will be an easy

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