Famous quote by Alfred P. Sloan

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Competition is the final price determinant and competitive prices may result in profits which force you to accept a rate
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"Competition is the final price determinant and competitive prices may result in profits which force you to accept a rate of return less than you hoped for, or for that matter to accept temporary losses"

- Alfred P. Sloan

About this Quote

In this quote, Alfred P. Sloan is highlighting the value of competitors in identifying rates. He recommends that in a competitive market, costs are ultimately figured out by the level of competitors. This can result in earnings for companies, but it may also imply that they need to accept a lower rate of return than they had actually hoped for. In some cases, organizations might even experience temporary losses in order to stay competitive. Sloan's words act as a pointer that in a competitive market, businesses should be prepared to adapt and make sacrifices in order to stay afloat and ultimately be successful.

About the Author

Alfred P. Sloan This quote is written / told by Alfred P. Sloan between May 23, 1875 and February 17, 1966. He was a famous Businessman from USA. The author also have 6 other quotes.

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