When a competition is held, both participants who had waited for the longest time to showcase their skills and participants who had never considered competing before coming across the competition's announcement, would be willing to participate.
A competition is a great opportunity for each to officially prove themselves.
Here is why I encourage competitions to be set.
1) I personally know someone who took part in a competition established by an international institute, she is currently employed by a big 4 company alongside many other previous competitors, so, competitions are a great way for job seekers to have competitive and strong qualifications.
2) Competitions can be a great start for students to explore their potential. A group of friends participated in an annual competition for MBA and college students last month, winning the 1st place in the event.
Although they still haven't gotten the final prize, which is 1 million US dollars funding for the business, they have already started marketing for the business. They are an example of a group that have found their potential through their desire to participate in the competition. When they found an idea for the competition, they worked on it, pitched it in a promising manner for the judges to win, creating a spark for them to start their journey.
3) Comping. This is a term used by money saving bloggers. It means the making of money by winning in competitions.
4) Competition culture challenges individuals to keep on learning and developing their skills because of how common competitions would be. So if more society members start to take part in competitions, there will be less amount of people who would be worried about losing or doubting their abilities. They would view competitions as a usual thing that anyone with the right amount of effort and focus would be able to take part of, and at least be a competitor worth mentioning if not a winner.
I hope to see more companies using ability-based competitions as marketing strategies but of course in a community that encourages genuine sporting spirit.