hen companies are motivated by profit, competition drives the company, and their stakeholders to become competitive, through the process of making the business more appealing and efficient. Competition occurs when two businesses are competing for the same customers. Different businesses or industries experience different degrees of competition; pure competition, monopolistic competition, oligopoly, and monopoly. Pure Competition consists of smaller businesses that operate within a market which offers similar goods, in a way where none of the competing businesses possess a greater market share, so they are in a position that influences price. Other conditions in a perfect competition are: that the competing businesses offer almost the exact same products/services; that the customers of these businesses are aware of the varying prices of these identical goods; that new businesses wanting to enter into this market, have easier access, as well opportunity to leave the market in the future. A good example for this kind of competition is with agriculture products in Canada. Monopolistic Competition: In this competitive market/industry, there are a larger number of companies providing the product, in which are identical, but different enough from the other businesses’ products. The one that provides the most attractive, appealing variation of the product then becomes in the position to later influence price of this particular product. Some examples of businesses operating in this degree of competition would be advertising provided by Pepsi or Coca-Cola. Oligopoly is an industry/market that is distinguished by a having a smaller number of competing organizations; these businesses are large in terms of assets and sales, that both have the equal ability to influence the price of the product. New companies wanting to enter will find it difficult, and restrictive, as it requires that these new businesses acquire larger capital investments first, before attempting to enter....