The Leads Intellectual Initiative

Hi, welcome to the twenty fourth day of The Leads Intellectual challenge: a 30-day challenge with Fatai Kareem. If you would like to know about unfavourable situation, read the twenty third day challenge  here . Today, he will be discussing another type of situation known as competitive situation and its application. Why do you always try to please your spouse? Why do you acquire many certificates? Why do companies strive hard to satisfy their employees? Why do companies continuously improve their processes? Why do companies engage in research and development and obtain patent for their products? Well, understanding competitive situation will enable you to answer questions like the ones above. What is competitive situation? Competitive situation is a situation in which two or more people are to compete for a resource that is relatively scarce such that when one person gets the resource, others are deprived. This situation is a product of scarcity, hence leads to competi...