Translation:Our company is better than the competition.
What does this sentence mean? Our company is better than competition? What competition?
"Competition" can be used to refer collectively or individually to economic competitors, i.e. other companies providing similar wares and services.
Polish word "konkurencja" means exactly that, among several other meanings.
How would you phrase it better?
The course isn't supposed to teach people natural English, but natural Polish.
The course is supposed to learn natural Polish with possibly natural English. Competitors would be a more natural translation.
Well, on the one hand you could also write "konkurenci" (or rather "od konkurentów" here) in Polish, but you are right, that is a natural version and it's close enough to be added.
Well, it's true that the English phrase sounds a bit strange without context, let's be honest. But in any case, it's correct