Strauss Zelnick says company has a "healthy respect" for competition and is constantly keeping tabs on what its competitors are up to.

Publisher Take-Two Interactive has seen continued success from its stable of industry-leading franchises like Grand Theft Auto and BioShock, but the company has not been blinded by its accomplishments, according to CEO Strauss Zelnick. He explained in a recent earnings call that to be blinded by hubris would be the company's downfall.

"We have a healthy respect for our competition. We don't take anything for granted," Zelnick said. "We're fond of saying that we think arrogance is the enemy of continued success. We're always looking over our shoulders, and not because we're worried about someone eating our lunch, but because we're worried about making sure that we always provide the best experience to consumers."

Take-Two's portfolio of franchises include mutli-million sellers like Grand Theft Auto, Max Payne, NBA 2K, Borderlands, Civilization, and BioShock, among others. These games make Take-Two the "standard bearer of what is the very best in interactive entertainment," Zelnick said.

If Take-Two is to continue to hold its position as an industry leader, it must monitor what its competition is up to and listen to consumer feedback, Zelnick said.

"To do that, we have to be mindful of what our competitors are doing and what our consumers want and always give them what they want and then some’and to do so at a fair price," Zelnick said. "So, we have the highest weighted [review score] average on Metacritic ratings in the business. And yes, we know we can always do more. We're very self-critical; we're always trying to push the envelope. So, are we worried about our competition? Yes. But what do we focus on? We focus on our own knitting and making sure what we do is the very best."

Take-Two's next major release in Grand Theft Auto V, which releases worldwide September 17 on Xbox 360 and PlayStation 3. The game is expected to be a major contributor to the company's bottom line.

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