The model stock plan

Bibliographic data

Monograph

Identifikator:: 1820833348

URN:: urn:nbn:de:zbw-retromon-210730

Document type:: Monograph

Author:: Filene, Edward A. http://d-nb.info/gnd/123562244

Title:: The model stock plan

Place of publication:: New York

Publisher:: McGraw-Hill Book Company

Year of publication:: 1930

Scope:: xiv, 253 Seiten

Digitisation:: 2022

Collection:: Economics Books

Usage license:: Get license information via the feedback formular.

Chapter

Document type:: Monograph

Structure type:: Chapter

Title:: Chapter XI. An entire stock of bargains

Collection:: Economics Books

i6o THE MODEL STOCK PLAN competition. Most business men give lip service to the generality that competition is the life of trade. But if almost any one of these men were given the opportunity to wipe out all of his direct competition—the firms doing exactly his kind of business with the same general buying public— he would do so unless prevented by his scruples for the losses it would cause to his friends in the trade. As a matter of fact, I know of no instance where honest competition is not directly profitable to all able firms in the field. This is certainly true in retailing. We should welcome the strongest, best competition. The reason is simple: practically all the best records, whether in business or sport, are made against strong runners-up. If someone is directly in competition with us, making us extend ourselves to the utmost to excel him, we shall achieve more than if we have the field to ourselves. Our store is helped, not hurt, by the success of our com- petitors. If we are inclined to doubt this, to regard it as impractical preachment, we can clear our minds by studying just how much of the possible volume goes to a different part of the town. Competing neighbors help draw trade to our vicinity. We should try to find out how much trade goes to stores in other towns which may be larger trading centers. Good local stores get our neighbors into the habit of trading at home. We know that even in the very large cities, a substantial slice of trade goes to the mail-order houses. If we and our competitors have good enough stores, people will not have doubts about getting good values in our stores. In brief, if we once appreciate how much business might be drawn into the one group of stores that is composed of our own and our competitors’, we shall come to understand how it is that good hard competition is a distinct benefit to us and to our total profits. A corollary to this is that if we make our own store the outstanding store of our community, we shall benefit even more than proportionately by this general increase of retail business done locally. Here is where the Model Stock Plan comes into the picture, for it will surely make our store

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