...Forms of Industrial Organization To understand Microeconomics it is imperative to understand the respective industries in which businesses operate. Classified into four distinct market structures, industrial organizations lack any kind of homogeny or consistency that would group them together. The four models are pure monopoly, oligopoly, monopolistic competition, and perfect competition. To begin, these market structures vary according to the number of firms in the structure, product type (similar or different), ease of entry, control over price, and marketing strategy (McConnell, Brue, & Flynn, 2009). For this reason, this discussion will focus on four contemporary firms that exemplify the respective differences in competing structures concluding with a summary of how a conceptualized industry evolves through the four structures during its product life-cycle. Pure Monopoly Structure A pure monopoly company does not always fit the description of a company who has no competition or close substitute. The label of a monopolistic company often follows companies such as Microsoft, even when there are similar products in the market. Microsoft currently holds approximately 90% of market share, whereas competing firms like Macintosh and Linux are close in substitution. Although consumers have the option to purchase systems such as Linux and Macintosh, they seem to choose Microsoft. The article Microsoft's Aggressive New Pricing Strategy, describes an approach that Microsoft...
Words: 1948 - Pages: 8
...Forms of Industrial Organization Forms of Industrial Organization University of Phoenix Introduction Society has a limited amount of land, labor, and capital out of which to make things. Consequently, society must be very attentive when figuring out how to best convert its limited resources into the goods and services that people mostly desire. Firms may or may not face a lot of competition from other firms. At one extreme lies monopoly, in which a firm faces no competition because it is the only firm in its industry. At the other extreme lies what economists call perfect competition, a situation in which a firm competes against many other firms in an industry in which they all produce an identical good. Between the extremes lie two situations: oligopoly, where there are two or more firms in an industry; and imperfect (monopolistic) competition, in which there are many competitors, but each produces a slightly unique good. Market Simulation Market structure is not a concept that is stable. In fact, it is not uncommon for a firm to have more than one market structure over time. It is interesting to examine how the dynamics of market structure evolve by adding competition. The market simulation showed a great example of market structure evolution. In the simulation Quasar entered the computer market with cutting edge technology making it a monopoly. Team B then recognized that investing in advertising was profitable for Quasar only if it reduced the price...
Words: 1924 - Pages: 8
...Forms of Industrial Organization Forces Influencing Business in the 21st Century MMPBL/501 May 16, 2011 Introduction The goal of any company is to compete and be profitable because in the free market economy all the company needs is demand for their product. The market structures allowed companies to compete and market their products in four different markets pure competition, pure monopoly, monopolistic, and Oligopoly. Some companies like McDonalds have a strong brand and powerful easy to recognize nationally and internationally. McDonalds have found ways to be more efficient keeping their prices low which ensures their profit in the long run. The Electric companies compete, and more than one electric company helps to keep the cost of energy. Other companies compete with exclusive, geographical products like wine, organic foods, shoes, or furniture. The profit in this type of companies is short run, unless they find new ways to cut cost, and become more efficient (Hartman, 2011). Oligopoly Competition Because the number of sellers in an oligopolistic industry is small, the decision of one firm will influence the demand, price, and profit of rivals. The distinguishing uniqueness of an oligopolistic market of rivals is small in number (Southwestern, 2003, p. 259). McDonald’s has no boundaries concerning good food, prices, and fun with more than 32,000 locations in 100 countries around the world (2010-2011, McDonald’s). McDonald introduced the one dollar value...
Words: 1351 - Pages: 6
...Industrial and Organizational Psychology Paper Janeen Tipton PSY/435 September 3, 2012 Saakshi Malik Industrial and Organizational Psychology Paper In the realm of science there are many fields of psychology; clinical, abnormal, child development and industrial psychology. Out of those, industrial/organizational (I/O) psychology not only deals with the individual, but also the organizations that such individuals may be employed at. It is theorized that the early development began in 1885 but to better understand the development one must have a clear view of what an I/O psychologists is and what their main objectives are as well as how research and statistics play a crucial role. Industrial and Organizational Psychology Industrial and Organizational psychology (I/O) psychology is the study of organizations and how scientifically-based solutions to human problems in the work place (American Psychological Association, 2012, p.1. para. 1). Such areas that I/O psychologists would have knowledge due to some form of training done at the doctorial level are: • Assessment methods • Job Analysis • Career Development • Job Evaluation, Performance, and Work Motivation • Business Skills (American Psychological Association, 2012, p. 1) There are services that an I/O will and can provide to the company/organization for which one is employed. These services include aiding with the hiring process by forming...
Words: 1282 - Pages: 6
...Employee Relations What are the implications of the decline in union forms of representation for effective employee voice within workplace? Introduction: Union has been a very important part in employee relations. This was actually the voice of employees towards the management/ employers at workplace. Basically union is “an association, combination, or organization of employees who band together to secure favourable wages, improved working conditions, and better work hours and to resolve grievances against employers” (Bagchi, 2003). Unions always try to protect workers right and maintain a balanced relationship between workers and management. Unions’ existence can be traced from the 18th century, when the rapid growth of industrialisation took place. This industrial growth drew attention of women, children, rural workers and immigrants to the work force in different roles and actions. This unskilled and semi-skilled work force continuously organized them to fit in to the system from the beginning; and later become an important arena for the development of trade unions. In recent age the relationship between employee and employer has changed so does the process of representation process. The relationship between employee and employer should have some sort of equality in it. But as a matter of fact this has rarely be a case when an applicant or employee gets the choice to select the desired workplace or work itself from the employers. It’s rather more driven by employers’...
Words: 3906 - Pages: 16
...between unions and other groups may have a primary identity based on affiliations of religion, ethnic group, gender, disability, environmentalism, neighborhood residence, or sexuality.[4] Community unionism has many definitions and practices.[5][6] It varies according to country,institutional and political contexts,internal organization, leadership, scale, organizing style, sources of funding, and communication structure.[7] In all, there is no "universal" community union;[8] they take on many different forms.[9] In order to simplify the complex structures of community unions, 4 categories have been established(although in practice community unions may blur the boundaries of these classifications):[10] Community organization/ no union partner:[11] This consists of community based efforts to organize around workplaces. It may also include new initiatives created by already established community organizations.[12] Labour union(s)/ no community partner:[13] This category is composed of new union locals or new initiatives undertaken as part of a labour union organizing strategy. These organizations seek the support of community institutions but do not form a joint effort with them.[14] Community/labour partnership but with community...
Words: 4451 - Pages: 18
...bargaining lead to strikes and other forms of industrial strife or unrest, which have the intent or the necessary effect of burdening or obstructing commerce by (a) impairing the efficiency, safety, or operation of the instrumentalities of commerce; (b) occurring in the current of commerce; (c) materially affecting, restraining, or controlling the flow of raw materials or manufactured or processed goods from or into the channels of commerce, or the prices of such materials or goods in commerce; or (d) causing diminution of employment and wages in such volume as substantially to impair or disrupt the market for goods flowing from or into the channels of commerce. The inequality of bargaining power between employees who do not possess full freedom of association or actual liberty of contract, and employers who are organized in the corporate or other forms of ownership association substantially burdens and affects the flow of commerce, and tends to aggravate recurrent business depressions, by depressing wage rates and the purchasing power of wage earners in industry and by preventing the stabilization of competitive wage rates and working conditions within and between industries. Experience has proved that protection by law of the right of employees to organize and bargain collectively safeguards commerce from injury, impairment, or interruption, and promotes the flow of commerce by removing certain recognized sources of industrial strife and unrest, by encouraging practices...
Words: 901 - Pages: 4
...at Will | 100% | * 1 * 2 * 15 | Major employment laws | 100% | * 3 * 4 * 5 | Fundamental Features of the U.S. Industrial Relations System (Six Factors) | 100% | * 6 * 7 * 8 | Three General Types of Third-Party Involvement in a Bargaining Impasse | 100% | * 9 * 10 * 11 | Forms of Nonunion Grievance Procedures | 100% | * 12 * 13 * 14 | Concept: Employment at Will Mastery : | 100% | Questions : | * 1 * 2 * 15 | Materials on the concept: * Employment at Will ------------------------------------------------- Top of Form 1. According to _____, an employee may not be fired because he or she refuses to commit an illegal act, such as perjury or price fixing. * A. public policy exception * B. social learning theory * C. retaliatory discharge * D. lifestyle discriminate Bottom of Form Correct : Public policy exception protects the employee from being terminated for not committing illegal acts under the direction of management or other employees. State courts developed this policy as one of three that protect employees from being terminated and claiming employment at will for not doing what management has directed an employee to do when it relates to illegal activity. Materials * Employment at Will ------------------------------------------------- Top of Form 2. A worker being fired for actions ranging from filing a workers’ compensation claim to reporting safety violations...
Words: 1994 - Pages: 8
...1. Labour or Industrial Relations. The term labour relations, also known as industrial relations, refers to the system in which employers, workers and their representatives and, directly or indirectly, the government interact to set the ground rules for the governance of work relationships. It also describes a field of study dedicated to examining such relationships. The field is an outgrowth of the industrial revolution, whose excesses led to the emergence of trade unions to represent workers and to the development of collective labour relations. A labour or industrial relations system reflects the interaction between the main actors in it: the state, the employer (or employers or an employers’ association), trade unions and employees (who may participate or not in unions and other bodies affording workers’ representation). The phrases “labour relations” and “industrial relations” are also used in connection with various forms of workers’ participation; they can also encompass individual employment relationships between an employer and a worker under a written or implied contract of employment, although these are usually referred to as “employment relations”. There is considerable variation in the use of the terms, partly reflecting the evolving nature of the field over time and place. There is general agreement, however, that the field embraces collective bargaining, various forms of workers’ participation (such as works councils and joint health and safety committees) and mechanisms...
Words: 2478 - Pages: 10
...THE EARLY SOCIOLOGY OF MANAGEMENT AND ORGANIZATIONS THE EARLY SOCIOLOGY OF MANAGEMENT AND ORGANIZATIONS VOLUME I Scientific Management Frederick Winslow Taylor Comprising: Shop Management The Principles of Scientific Management Testimony Before the Special House Committee VOLUME II The Philosophy of Management Oliver Sheldon VOLUME III Dynamic Administration: The Collected Papers of Mary Parker Follett Edited by Henry C.Metcalf and L.Urwick VOLUME IV Papers on the Science of Administration Edited by Luther Gulick and L.Urwick VOLUME V Management and the Worker F.J.Roethlisberger and William J.Dickson VOLUME VI The Human Problems of an Industrial Civilization Elton Mayo VOLUME VII Organization and Management: Selected Papers Chester I.Barnard VOLUME VIII On the Shop Floor: Two Studies of Workshop Organization and Output T.Lupton THE EARLY SOCIOLOGY OF MANAGEMENT AND ORGANIZATIONS Edited by Kenneth Thompson VOLUME II The Philosophy of Management Oliver Sheldon LONDON AND NEW YORK First published 1924 by Isaac Pitman & Sons Ltd, London This edition published 2003 by Routledge 11 New Fetter Lane, London EC4P 4EE Simultaneously published in the USA and Canada by Routledge 29 West 35th Street, New York, NY 10001 Routledge is an imprint of the Taylor & Francis Group This edition published in the Taylor & Francis e-Library, 2005. “To purchase your own copy of this or any of Taylor & Francis or Routledge’s collection of thousands of eBooks please go to www.eBookstore...
Words: 100722 - Pages: 403
...The difference that emanates from the industrial leadership and posts industrial leadership is mostly in the form of leadership that is impacted on the labor market. The success in the post-industrial world depends on people finding their niche and capitalizing on that. In the industrial world, leadership was determined on production, and this is what was used to measure the success of an organization and profits. However, in the post-industrial leadership era, this is done through the services offered which depends on the users of these new technologies and intelligent designers. There are new terms that come with this, and some are the post-industrial economy which refers to the period of growth that is within the industrialized nation or...
Words: 1710 - Pages: 7
...Industrial Law An Executive summary: This report has sought to address a number of claims that trade unions in Armisteel Pty Ltd have made that are supposed to be included in the union and organization’s agreement. The report has examined the procedure that the unions should take in the event that it wants to take industrial action as well as the barriers that the unions are going to face. The main purpose of writing this report is to address major legal issues that have been presented by employees to the organization. Armisteel Pty Ltd is a leading manufacturing industry business that is characterized by high levels of union activities within the organization. The unions include AMFKIU, WTU and WAU. The report is going to look into the committee’s wish that the new agreement maintain existing award provisions that had already been provided by a federal award back in 1988. The report is mainly motivated by a number of claims that have been made by the unions and will seek to address their legality to the fullness of the law. The unions are also seeking to take industrial action id their claims are not met by the organization. Introduction: The significance of writing this report is to address and offer recommendations to the joint union committee as well as the recently appointed General Manager on the legality of some of the issues that have been presented by the workers unions. The joint union committee is mainly concerned about major changes that affect industrial laws...
Words: 2031 - Pages: 9
...generally arise form the day-do-day working relations in the undertaking, usually a worker or trade union protest against an act or omission or management that is considered to violate worker's rights. The following causes have been given of employee grievances: (i) Promotions; (ii) Amenities; (iii) Continuity of service; (iv) Compensation; (v) Disciplinary action; (vi) Fines; (vii) Increments (viii) Leave; (ix) Medical Benefits; (x) Nature of the job; (xi) Payment of wages; (xii) Acting promotion; (.xiii) Recovery of dues; (xiv) Safety appliance; (xv) Superannuation; (xvi) Supersession; (xvii) Transfer; (xviii) Victimization; and (xix) Conditions of work. Grievances may arise from various causes related to the work and working conditions of the employees. The typical areas where causes of grievances may occur are: • Wage structure including bonus, incentives, overtime, leave facilities etc. • Seniority, job classification, promotion, transfer, lay-off and discharge; • Supervision and discipline, • Physical environment and working conditions in general • Welfare arrangements including health and safety; • Employer's attitude towards interpretation of the service contract or collective bargaining agreement, settlement of grievances etc. 2. What are the objectives of ‘Industrial Relations’? Main objectives of Industrial Relations • Main objective of Industrial relation is to improve economic conditions of workers in the present scenario of industrial management...
Words: 856 - Pages: 4
...ASIA E UNIVERSITY EXECUTIVE BACHELORS IN MANAGEMENT (HRM) ASSIGNMENT INDUSTRIAL RELATIONS Q2. What is the role of the Ministry of Human Resources in the industrial relations system? Who are the parties involved in the industrial relations system? The scope of Ministry of Human Resources in the industrial relations system encompass employee and workers state of safety, health and welfare and human resource matters such as training, employment, labour rights and industrial relations. It includes the PERKESO (Pertubuhan Keselamatan Sosial), PSMB (Pembangunan Sumber Manusia Berhad), JTM (Jabatan Tenaga Malaysia), JKKP (Jabatan Keselamatan dan Kesihatan Pekerja). The role of the Human Resources Ministry is to encourage harmonious relationships between employers and employees in the interest of the nation’s productivity. The objective of Human Resource Ministry in the industrial relations is: • To protect the welfare of the employees-safety, and rights • To promote good employer-employee relationship through a stable and peaceful Industrial Relations system • To equip the unemployed with basic industrial skills and to improve the skill level of the workforce • To assist in maximizing country’s manpower resources through manpower planning • Department of Labour, Peninsular Malaysia, Sabah and Sarawak-enforces Employment Act 1955, Workmen’s Compensation Act 1952, Wages Council Act 1947, Young Persons Act 1966, Employment Restriction Act 1968...
Words: 5141 - Pages: 21
...Situation Analysis of Trade Unions and Industrial Relations in Bangladesh: A Country Profile • Balasundaram Nimalathasan (Department of Accounting, University of Jaffna, Jaffna, Sri Lanka) • Abu Taher (Department of Management Studies, University of Chittagong, Chittagong, Bangladesh) Abstract Industrial Relations (IR) is an inter-disciplinary field that encompasses the study of all aspects of people at work. IR is a fascinating subject for the study understanding discussion and practice, as it covers the whole range of human relations within industry. IR is a combination of various social sciences, the cumulative effect of which is to grease the wheels of industry and society. Sound IR can only be based on human relations and good human relations dictate that human beings should be treated humanely, which includes respect for human dignity, fair sealing and concern for the human beings physical and social needs. The research is based on desk study. Moreover, the recommendation would be helpful to the practitioners, researchers, planners, policy makers and academicians, who are involved in the concerned area. Keywords: Situational Analysis; Trade Unions and Industrial Relations 1. Introduction Trade unionism is the core of industrial relations. Primarily it is also referred to as phenomenon of the capitalist society, where in trade unions seek to remove the power imbalance between the buyer (i.e., employer) and individual seller (i.e....
Words: 5942 - Pages: 24
