This weekend see's some rivalries play out in the sporting arena, starting tonight (Friday 11/11/11) with a battle between England & Scotland at Wembley. That's a football rivalry by the way not an actual battle.
Competition in the market is a good thing, don't confuse it with something big bad and scary. Too often businesses fixate on their rivals, constantly comparing contrasting and attempting to outwit. This may seem like something that is necessary, but really it isn't.
The main focus should be your customers and/or clients. They will let you know whether the competition is better, cheaper, fatter or thinner. If your value proposition is better than your rivals, then your market share should increase, as should the loyalty from your customers.
The market will decide whether you are doing things rightly or wrongly, which is why it is so important to face that way, and not stare at your competition all day.