In a business setting, people tend to associate the term competition with one company competing against another similar company, and although that is one form of competition, that is not always the case.
Competition between employees within the workplace can be just as beneficial or damaging as competition between businesses. This all depends on how this competition is dealt with by both upper management and those involved as well.
Promote healthy competition among employees
Competition between colleagues can be considered an advantage for a business, a tool that managers can use to motivate their employees. It has been noted that competition between two employees has led to increased innovation and creativity as the employees continually attempt to better the other.
It has also supposedly led to an increase in motivation and thus productivity in individuals as they desire to be better than the other. However, there is a limit to the type and amount of competition that is necessary in a business environment.
...But avoid too much competition
Too much competition for a sustained period of time may lead to stress and demotivation while too little may lead to a lack of motivation in the first place. Additionally, there is the possibility of creating a culture of fear, where there is a lack of trust between colleagues who, in the bigger picture, are meant to work with one another and not against each other.
Therefore, to ensure that the competitive work environment is beneficial rather than damaging can be done by aiming for cooperative competition between employees. This type of competition places the focus more on working together, thus allowing team members to push one another and be more productive. This enables there to still be competition but it is now more focused on aiding the business as a whole rather than just an individual that is part of the firm.