Cambridge Dictionary defines competition as a situation in which someone is trying to win something or be more successful than someone else.
It’s completely natural to keep an eye on the competition. After all, understanding what others are doing can help you stay relevant. However, there’s an important distinction between being aware of the competition and crossing ethical boundaries. Too often, people within teams, as well as companies in relation to other companies, fall into the trap of “borrowing” ideas from each other without giving proper recognition.
Respecting competition matters
Competition, when approached with respect and ethics, can elevate everyone. It encourages innovation, pushes boundaries and benefits clients. In many professions, especially those built on cooperation and support, integrity should be a core value. Those supporting others should always practice what they preach. They should “walk the talk”, be supportive and work hard, not fear the competition.
Here’s the key to respecting competition which applies both to within the team and between companies:
- Acknowledge the work of others.
- Respect your competitors. They’re driving the industry forward, just like you.
- Support your colleagues. There’s enough space in every team and every market.
- Be inspired, but don’t take without asking. Always ask for permission.
- Express gratitude when you learn from others.
Tips for ethical competition
- Monitor, but don’t mimic: It’s okay to follow what your competitors are doing, but find your own approach.
- Always credit your sources: If you’re inspired by your colleague or another company’s work, acknowledge it. Recognition builds respect.
- Ask for permission: Before adopting an idea, ask the original creator for permission.
- Stay inspired: Keep searching for inspiration within your own business or team. Remember, what matters most is how you do something, not whether you’re the first to do it.
