Enterprises approach competition in two ways. Both are wrong. They either slip on their rose-colored glasses and tell themselves "A rising tide lifts all boats". Or, they go after their competitors publicly, duking it on billboards, magazine ads and bizarre comparison charts.

Let's begin by picking apart the former. John F. Kennedy is credited with saying "A rising tide lifts all boats." Unfortunately, Kennedy wasn't talking about competition but instead economic development within the United States. In this context, the adage is true, a thriving economy allows individuals and businesses existing within that economy to thrive.However, what's not true, is that all competition within a given industry can thrive. Business is very much a winner-takes-all affair. If you don't take it all, someone else will. Your objective should be to destroy your opponents totally and completely. Market leaders might pretend the water is warm, but it's nothing more than a PR stunt to keep from appearing like they’re a monopoly.

Now, on the opposite end of the spectrum, it’s unwise to go after your competitors publicly for a few reasons. One, you owe your competitors a certain level of respect (despite wanting to crush them). You two are playing the same game, after all. Two, by going after your competitors publicly, you bring unwanted attention to them. You’re essentially giving them free advertising. Three, public feuds are a distraction from innovating inside your own enterprise.

When it comes to your competition, play fair. But, have no mercy.