An Oligopoly Competitive Market One example of a competitive market structure we encounter in business would be an oligopoly. An oligopoly, according to Case, Fair, and Oster, is “…an industry dominated by a few firms that, by virtue of their individual sizes, are large enough to influence the market price” (p. 283). One way to determine whether a market is oligopoly in nature would be to utilize the concentration ratio information provided within the United States Census Bureau’s “Economic Census.” Utilizing the Economic Census, a market can be said to be an oligopoly competitive market if the top four firms within an industry control at least 75 percent of the market share. To get a firm grasp on how this theory works I will study the concentration ratios of the four industries: fluid milk (311511), women's and girl’s cut & sew dresses (315233), envelopes (322232), and electronic computers (334111), to determine whether their competitive markets would be considered an oligopoly, and contemplate whether an oligopoly is always bad for society. Utilizing concentration ratios we find that the top four firms operating within the fluid milk industry (311511), control 42.2 percent, and envelopes (322232) with 51.1 percent of their respective market shares.
Running head: Differentiating between Market Structures Paper Differentiating between Market Structures Paper Melissa Blanco, Mary L. Lockett, Saundra Luke University of Phoenix ECO/212 Principles of Economics February 1, 2010 Instructor Michael Shackelford Four market structures makes today’s economic market, knowing the difference between the four can help a business realize which market would be more suitable for their firm. The term market structure refers to “the set of industry characteristics that affect the extent or rivalry in the market and ultimately affects market performance related to pricing and output.” (Humboldt State University, 2000, para. 2) The economic market consists of competitive market, monopoly,
Explain key concepts such as segmentation, target marketing and product positioning. 2. Explain the four elements of the marketing mix: product strategies, pricing strategies, promotion strategies and distribution strategies. 3. Classify factors in the external marketing environment as either opportunities or threats as well as interpret internal company factors to create a SWOT analysis.
The resource based view argues that companies posses some unique resources (assets and capabilities) and competitive advantage is acquired by accumulating those strategic assets. Resources are any tangible (equipment, raw material) or intangible (firm image, processes, routines) things that a company owns and can use to carry out its crucial processes. Resource based view focuses on the resources and capabilities possessed by the firm to analyze the profitability and value. According to the view an organization is a bundle of resources, which fall into five general categories of financial resources, physical resources, human resources, knowledge and learning resources, and general organizational resources. The Tootsie Roll Industries efficiency employs further review in tangible resources, intangible resources, capabilities, and core competencies as a strategy to achieve the highest ranking in the candy market.
There are four key actions during the pre-award phase: Clearly stating your (seller/buyer) objectives; Identifying the sources and characteristics of uncertainties about achieving those objectives; Defining, managing, and assessing risks; and Making decisions about an appropriate course of action. Furthermore, these actions should be taken from the perspective of both the buyer and the One important area to consider with any contract is the area of contract pricing arrangements and incentives. Some of the areas you might consider are cost performance, schedule or delivery performance, and quality outcomes. While the exact nature of the work you need to manage may differ, we can get ideas from a variety of industries on creative ways to structure contracts. Below is a listing of the 15 best practices of contract incentives.
Differentiating Between Market Structures ECO/365 09/08/2014 Differentiating Between Market Structures Target Corporation is a company that entered into the discount retail business in 1962. The company has grown into a full service retail chain from clothes to food. Its major competitors are Wal-Mart, Costco, and K-Mart who all bring the same type of goods into play. Market structures can vary and these types of retailers are all the same which will be explained throughout. Differentiating between the market structures of this business will allow for explanations of how different sectors of industry will vary and how to come up with some competitive strategies to grow the business within the industry.
Competitive Strategies. Give examples of how different businesses in the same industry select different business strategies? Use illustrations to support your answer. According to business theory there are basically four different business strategies that help a business exist. There are, the Prospector Strategy, the Analyzer Strategy, the Reactor Strategy and the Defender strategy.
Imani Shakir Period 3 Calhoun 09/11/2009 Chapter 4 Notes Demand What is Demand? Demand- the desire, ability, and willingness to buy a product that can compete with others who have similar demands. Microeconomics-the area of economics that deals with behavior and decision making by small units. The knowledge of demand is essential to understand how a market economy works. Demand Schedule-A listing that shows the various quantities demanded of a particular product at all prices that might prevail in the market at a given time.
Identify the social, political, regulatory, legal, technological, and international, external and internal environments in which a business operates. 3. Distinguish the numerous stakeholders and recognize the issues represented in each type of business environment relative to impact by operations of the business and impact upon the operations of the business. 4. Compare and analyze the various and sometimes competing considerations attending diverse stakeholder interests and inherent in cross-cultural multinational environments.
Tobin's-q measures the ratio of the value of a company's assets to its market value. The excess value is resulting from intangible assets. This kind of value is not measured by normal financial reporting. THE 4 PERSPECTIVES OF THE BALANCED SCORECARD The Balanced Scorecard method of Kaplan and Norton is a strategic approach, and performance management system, that enables organizations to translate a company's vision and strategy into implementation, working from 4 perspectives: 1. Financial perspective.