Today, competition is an inherent aspect in a majority of the business organizations in the world. After the discovery of a business idea and the implementation of a strategic plan to set up the business in the market, other individuals, and organization develop an interest in the nature and scope of the business. As such, there are new entrants in the market who may have better strategies than the firms that have been in the market over the years. The level of competition depends on how lucrative a particular industry and can be in terms of the amount of revenue that the industry players can generate in the market. Industries with higher returns attract more market players, making it hard to operate and maximize the generation of revenue. The RIM Company is a good example of a company that has excelled in the telecommunication industry. Recently, the company has been the victim of intense competition, which has had an effect on its performance in the market.
