Competition always makes better business, what you think?

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Since las one month, in our local are three to four companies are established business which my company manufacturing, to see this movement of competition our managment taken quick effort and increase salary of each one. HA HA HA... actually, we were worried when our company's strong competitive are establishing very closh product which we are manufacturing & then we enhanced hardwork to capture more market & try to reduce cost of product. Don't afraid to competition welcome it... if you are employee. its good to establish more companies and get more people employment.