Competition:
A contest between rivals.

Contest:
A Dispute, a challenge.

Rivals:
One or two (or more) striving to reach or obtain
something only one can possess.

 In my younger days.

Employed in sales jobs, there were frequent contests.
Sell the most “extended warranties” and “win”.
Activate the most new cell phones and qualify for a trip. “Win”.
I can recall  “winning” my share of them, actually.
I  enjoyed the challenge. I enjoyed winning.
It fueled me. (temporarily).

Today.

I find external motivation repelling and shallow.
There is no contest, no competition, that can “motivate” me.
Over time Ive changed.
My values have changed.
From Ego (who can I beat, how can I be #1) to Meaning (to whom can I add value).
From winning to serving.
From Ambition to meaning,

The real winner in any “contest”is the company selling the product!
The real loser loser is the customer followed by the  second place and lower
competitor(s).

Running a contest to boost performance is external motivation.  (Best compared to a sugar high).
As soon as the pressure of the contest is removed  the workers performance drops off.
Again.
Till the next contest.
Which will be next month!

The bottom line:
Ask yourself this question:
How’s it FEEL to be a “loser”?