The job can't be finished only improved to please the customer.
W. Edwards DemingRead
Competition should not be for a share of the market-but to expand the market.
Interpretation
What this quote means
Competition should focus on growing the market rather than simply dividing it among existing players.
W. Edwards Deming emphasizes that competition in business should prioritize expanding the overall market instead of merely fighting over a limited share. By encouraging innovation and collaboration, companies can work towards creating more opportunities for everyone rather than engaging in cutthroat rivalry that only leads to stagnation. This perspective fosters a healthier economic environment where all players benefit from growth.
Themes
CompetitionMarketGrowthInnovationBusinessCollaboration
In practice
Example use cases
During a business conference, to encourage potential partnerships, one might say, 'As W. Edwards Deming noted, competition should not just be about sharing the market, but about expanding it.'
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