world-beater vs competition

world-beater and competition both are nouns.

Word	Noun	Adjective	Verb	Adverb
world-beater	Yes	No	No	No
competition	Yes	No	No	No

As nouns, competition is a hypernym of world-beater; that is, competition is a word with a broader meaning than world-beater:

Other hypernyms of world-beater include challenger, competitor, contender, rival.

world-beater (noun)	competition (noun)
a competitor who holds a preeminent position	the act of competing as for profit or a prize
	an occasion on which a winner is selected from among two or more contestants
	the contestant you hope to defeat
	a business relation in which two parties compete to gain customers