Good competition is galvanized by the higher callings that businesses exist for. Learning from others is a key to continuous progress. The accumulation and the sharing of ideas, experiences, concepts, arts, and sciences are what enabled humans to build such great civilizations and cultures throughout history until our modern day. Purposeful and leading companies observe and learn from others to improve their offerings not to stay ahead of their competitors.
Companies that are highly focused on their journey and what they are trying to achieve learn and advance their business. Learning is far more important than competing. The most powerful system that enabled humans to reach what they reached is learning and sharing. Without them, everything comes to a grinding halt.
The power of a good competition is learning, and the beauty of learning is a continuous improvement which serves everyone.
Discovering the flaws of competitors does not add up to improving the quality of the products. It intensifies the competition and stifles innovation. Innovation requires some sorts of good competition which instigates learning and fosters cooperation. The good competition challenges companies to defeat problems and handle hardships facing people. It does not mean facing the opponents on a battlefield. Healthy competition pushes companies into discovering new things not to outpace others and declare winning. Outsmarting others is a manifestation of bad competition.
Adopting the mindset of a healthy competition requires leaders whose purpose guides their mindset and determines their outcomes. Their sights are not on their competitors but what their business is trying to solve and contribute.