Summary
This quote suggests that competition in business is like a sharp tool that constantly works to reduce costs. In a competitive market, businesses strive to find ways to cut down expenses in order to gain an edge over their rivals. The constant pressure to be efficient and cost-effective serves as a driving force for businesses to constantly innovate and optimize their processes. This competition acts as a catalyst, ultimately benefiting consumers by offering them products and services at lower prices.
Topics
Business
By Henry Ford
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