Monopolistic competition

nationally-ranked competitive trap shooter and a shooting ambassador. I have begun to work with my shooting club to understand the working of a sporting clay and trap club, how competitions are organized and the preparation and work needed before, during and after the shoot and how the club runs these events. My competitions have enabled me to travel to several different states to compete. Competing in different states has allowed to me…

Mount Sinai is a successful hospital that is able to deliver high quality services. The organization derives strength in services through their large physician network and their medical school that complements the hospital. Innovation and excellent processes are factors that produce a successful environment for Mount Sinai. However, the hospital system is not flawless and there are some weaknesses in their business operations. Though they maintain excellent processes and use certain…

High intensity results in higher fixed cost and lower profitability for all the companies in that industry. If brand loyalty is low, products are all similar, customer switching costs are low and high exit barriers results in fierce competition between rivals. Example: low rivalry in optical industry, high rivalry in pharmaceutical industry. Weaknesses: Porter’s five forces was published in late 1970s and was useful method to observe and analyze external economic environment and come up…

PESTLE Analysis PESTLE Analysis is a analysis of the external factors of a company, which plays a significant part of company’s new project. Managers identify the risk factors by using this method before taking any steps for the company. There are six factors associated with PESTLE, namely Political, Economical, Social, Technological, Legal and Environmental. Unalike SWOT analysis, this focus on the external macro environmental factors that would cause any negative effect on the business now or…

Rivalry among competing firms: The competing companies against Luck Industries is Vulcan Material and Marietta Materials. Vulcan Material is the number supplier of Stone. The risk of the rivalry companies is high because if price is what matters to the consumer the other larger companies can always lower price which would make it more difficult for Luck to compete. Luck industries always cares about it’s employees first along with it’s customers which make their products more expensive. Luck…

Recommendations Theory 1 Theory that has been used in this situation is maximizing profit. The concept of the theory is to increase the profit of the company to maximum level. The company always gives priority to profit and least bother about other issues. The unethical practice that this company is practicing is preparing unhealthy fast food.Generally, fast food is not healthy to consume. Every age group will be suffering as the consequences of eating fried chicken.…

i. Cost Leadership-Low Cost; Involves projecting a company as the cheapest source for a good or service to offer to a wide range of customers. Costs are minimized and the savings are then passed on to customers. Celcom • Does this by pushing for a culture that inculcates high productivity and accountability. The company has reduced the number of layers in its organizational hierarchy from the teens to just 6, and in the process, allowing for faster and transparent decision-making. With the…

and rely on this strategy only. Another idea they can introduce at this time of the year, is to offer any customer who buys two Ferrero Rocher packs a small Christmas tree, as shown in figure 8. Another idea of sales promotions could include a competition of the best table decoration on Christmas Eve using Ferrero Rocher chocolate. The winner for example would win a trip for to two to…

The primary distinguishing factor between Penrose’s and Coase’s theories is the idea of fluidity – Coase believes the firm to be a static body with an optimum size, whereas Penrose views the firm as a dynamic entity that has no size limit, unless it fails to exploit its resources, at which point the firm becomes stagnant. Whilst Penrose defines the firm as an "autonomous administrative planning unit”, which is bounded by its “area of authoritative communication”, Coase perceives the firm as a…

The PEST analysis, like a SWOT analysis studies four dimensions. However, a PEST analysis looks at the political, economic, socio-cultural, and technological factors. The difference between a PEST analysis and a SWOT analysis is that a SWOT analysis analyzes internal factors whereas a PEST analysis involves examining the external factors that affect one’s work environment. Organizations conduct PEST analyses in order to create strategies going forward. For my PEST analysis, I am going to analyze…