...How does an understanding of local culture give managers an advantage in working in business competition? In order for a business to be competitive in a foreign country, it is important that the managers have an understanding of the national and local culture of the country. This must include the religious practices and laws governing the people. And since business involves people, and is regulated by people, it is important to understand potential cultural differences. For this reason, the owners of java Lounge though they are all Saudis thought it wise to solicit a Lebanese consultant to research the market for them. The results of the research provided them with knowledge that cultural differences would have on location as well as the operational, managerial and organizational processes in the business. Situating the business in the city of Jeddah demonstrate an awareness of the cultural variation of the city in terms of the less conservativeness of the locals and the sizeable presence of foreigners. Operationally, a good knowledge of the local culture permitted the owners to create a separate entrance for male clients who are unaccompanied and the reservation of evenings in serving only family customers. However, because of the culture that bars women from working in certain professions or in the presence of chaperones who must be a family member, the restaurant does not employ any female worker. The managerial process is dictated by the state in strict accordance to religious...
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...------------------------------------------------- Price Signalling and Competition – Research Essay An evaluation of the law should be conducted in light of a specific objective. This way, one can make a valid determination regarding the effectiveness of the laws in question and their operation with respect to their intended purpose. The objective of the Competition and Consumer Act 2010 (Cth) (CCA) is to enhance the welfare of Australians by promoting competition and fair-trading, and to provide protection to Australian consumers. The relevant laws in place should therefore reflect the aims of this objective. It has been proposed that government action to prohibit anti-competitive price signalling and information exchange between competitors advances the objective of the CCA by strengthening its safe guards against anti-competitive conduct, recognising that competitive markets enhance the welfare of Australians. Several commentators from the business and legal community however challenged this suggestion. They argue that amendments to this end would be futile as such conduct is already regulated by the existing provisions in the CCA. Others have even argued that such regulation has the potential to impede to legitimate and pro-competitive commercial behaviour. Nonetheless, the Australian Consumer and Competition Commission (ACCC) has maintained its position in support of laws that specifically target anti-competitive communication between competitors. Recent public...
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...Brunel Business School Bachelor of Science TITLE ENTREPRENEURSHIP & MARKETING IN BUSINESS MODULE CODE MG2049 Written Coursework: Deadline (12.00 noon, UK time) on Blackboard Learn. The learning outcomes for this module are as follows: * 1. Critically discuss the theories surrounding entrepreneurship and business ventures and how they relate to the global business environment. 2. Identify the impact that corporate communications have on internal and external audiences and their role in the development of integrated marketing communications. 3. Critically analyse issues around new business formation and growth of national and multinational enterprises. 4. Evaluate the application of theories in entrepreneurship and marketing communications ------------------------------------------------- The coursework comprises two elements which include the groupwork and individual essay (100%). The groupwork element attracts formative assessment while the individual element attracts summative assessment (3000 words). The individual element poses questions on your experience as regards the groupwork element and the ‘entrepreneurial journey’ of well-known enterprises. In order to benefit from the experiential learning inherent in the groupwork, it is important that you set about forming groups as early...
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...number of countries the non-interest income on banks is growing in importance; after-all loans constitute the largest share of bank’s assets. Over the years there has been a significant amount of research on the effects of competition on the risk taking behavior of banks and hence their stability. This has been coupled with inquiries by different competition authorities around...
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...and having completed the essential reading and exercises, the students will be able to – Analyse and interpret the relationship between factors influencing demand and supply Explain and analyse the nature of production and its relationship to costs. Analyse business practices with respect to pricing and competition. Understanding the various strategic options in banking sector in the context of consumer behaviour and markets analysis. Understand and describe the concepts and measurement of gross domestic product, unemployment, and inflation. Understand and describe the difference between business cycles and economic growth and the factors that contribute to each. Page 1 of 6 Understand and describe the concept of Macroeconomic Equilibrium. Understand and describe how Aggregate Demand and Aggregate Supply determine equilibrium price and output in the short-run and long-run. Understand and describe the multiplier concept, how it is computed, and its qualifications and limitations. Analyze and describe the concepts, tools, and implementation of fiscal policy, its limitations and relative advantages and disadvantages, and how it affects aggregate economic activity. Understanding the concepts, tools, and implementation of monetary policy, its limitations and relative advantages and disadvantages, and how it affects aggregate economic activity. Pedagogy Course will be delivered through a combination of different methodologies, like – Lectures, Readings, Simulation, Case studies...
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...2.1 Demand 2.1.1 Understanding the Determinants of Demand 2.1.2 Understanding the Basics of Demand 2.1.3 Analyzing Shifts in the Demand Curve 2.1.4 Changing Other Demand Variables 2.1.5 Deriving a Market Demand Curve 2.2 Supply 2.2.1 Understanding the Determinants of Supply 2.2.2 Deriving a Supply Curve 2.2.3 Understanding a Change in Supply versus a Change in Quantity Supplied 2.2.4 Analyzing Changes in Other Supply Variables 2.2.5 Deriving a Market Supply Curve from Individual Supply Curves 2.3 Equilibrium 2.3.1 Determining a Competitive Equilibrium 5.1 The Basic Assumptions of Competitive Markets 5.1.1 Understanding the Role of Price 5.1.2 Understanding Market Structures 6.1 Monopolies 6.1.1 Defining Monopoly Power 6.1.2 Defining Marginal Revenue for a Firm with Market Power 6.1.3 Determining the Monopolist's Profit-Maximizing Output and Price 6.3 Oligopoly 6.3.1 Introducing Oligopoly and the Prisoner's Dilemma 6.3.2 Understanding a Cartel as a Prisoner's Dilemma 6.4 Monopolistic Competition 6.4.1 Defining Monopolistic Competition 6.4.2 Understanding Pricing and Output under Monopolistic Competition Competency: 309.1.4 Economic Variables and the Economy 1.4 Production Possibilities 1.4.1 Understanding the Concept of Production Possibilities Frontiers 1.4.2 Understanding How a Change in Technology or Resources Affects the...
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... Marketing Research Paper Competition is the better part of business. The level of competition experienced by a company depends upon the area of business that company operates in. If there is more than one company providing the same goods or services they will be each other’s competitor. Competition could be based on the operating style of a company or how merchandise is made, and competition will always have the consumer in mind. Marketing managers use competitive intelligence when creating new marketing strategies. New businesses like Kudler Fine Foods need to identify the niche, and customer base that will be appealed to. Kudler Fine Foods is an upscale, specialty grocery store located in the San Diego metropolitan area. Kudler Fine Foods or Kudler’s, are a relatively new business having only opened its doors in 1998. The mission of Kudler’s is to offer each customer a delightful and pleasing shopping experience, (Kudler Fine Foods, 2012). Kudler Fine Foods operates a website for interested customers who wish to obtain information about Kudler’s. Like all start up businesses Kudler’s is still ironing out the kinks on their website and within their stores. Initially Kudler Fine Foods began with the aim of filling a gap in the grocery market that catered to consumers with a refined taste, gourmet tendencies, and where they could go to be educated on any food or beverage. Grocery stores are found everywhere and the competition between them can be fierce. Kudler...
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...large number of plans to choose from, so I would encourage you to find one that interests you. I want you to critically assess the written components of a graduate student business plan written by MBA students over the past several years. You should use the contents of Timmons and Spinelli to guide your assessment, and your grade will be based on how well you demonstrate your ability to apply the concepts from your textbook. I would recommend that you rely heavily upon the contents of Chapters 6 and 8 in your analysis. You will optimize your learning by reading and analyzing a business plan presentation from the annual VLIC business plan competition at the University of Texas in Austin (http://www.mccombs.utexas.edu/Centers/Venture-Labs-Investment-Competition/). This competition is generally viewed as the “Super Bowl” of business plan competitions and will deliver excellent examples for your case study analysis. The report should have a body of text no less than 5 pages and no more than 10 pages, the paper should be 1.5 spaced. A 12-point font similar to Times New Roman should be used. An acceptable paper will be written in a professional business manner in the form of a briefing memo from you to me. Submit this as a Word document via the D2L Dropbox. *With aspiring entrepreneurs soliciting start-up funds from experienced investors, VLIC simulates the real-world process of raising venture capital. MBAs from business schools around the globe come to The University of Texas at Austin...
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...Market Structure University of Phoenix Introduction When a product is produced, the company that produces that particular product falls into one of four categories: pure competition, monopolistic competition, oligopoly, and monopoly. Depending on how many companies are producing a product determines what market structure the company is labeled. Each category determines how a company will use pricing and non-pricing to advance in the economy. The United States economic market is competitive with various buyers and sellers, and each company is constantly looking for ways to be better than its neighbor. The following examples of each category will show different companies and how they use pricing and non-pricing to advance to the top. Pure Competition Monopolistic Competition Monopolistic competition is a “Market situation in which many independent buyers and sellers may exist but competition is limited by specific market conditions” (Answer.Com, 2010). This structure is characterized as a relatively large number of sellers, differentiated products, easy entry and exit from the industry. Each industry is autonomous and determines its own pricing policy; can also decrease prices to increase sales moderately. Industries have a small percentage of the total market and have limited control over market price. It is almost impossible among large firms to conspire and restrict outputs and set prices. Product differentiation include: functional features, materials...
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...to understand the general characteristics of market structures and the impact of market liquidity, competitiveness, and efficiency on financial managers. Clarifying market structures will show the basic constructs that financial managers work under. With the basic understanding of market structures and how they influence financial managers or how financial managers influence their given market structures we will identify two problems that are faced in current markets chosen from two Proquest articles, the first problem discussed will be communication issues and we will follow that up with a larger issue, the global economic recession. In discussing these issues we will also hit on how managers can possibly address those issues according to those articles. Market structures are fundamental in understanding how the economy works and how goods and/or services are exchanged. There are four basic market structures; perfect competition, monopolistic competition, oligopoly, and monopoly. Perfect competition is when there are numerous sellers with no difference in the product, no cost to enter or exit the market, and there is no influence on price. The most common type of market structure is a monopolistic competition market. In this type of market there are numerous sellers with little price differences in the product, a low cost to enter the market, and a slight influence on cost which depends on advertising. Another market structure we mostly identify with larger corporate...
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...accompanied by increased competition and acquisitions and mergers in the market, lead both academicians and practitioners to concentrate on the consumers’ purchase decisions in portable PC industry. The NDP group’s report published by PC World state that in May 2003, U.S. retailers made more money selling laptop/notebook computers than they did selling desktops. It was the first time that laptops have outsold desktops in the U.S. This research seeks to develop a better understanding of the factors influencing consumers’ laptop purchases. What makes this study distinctive from other sectoral studies is that, this research also seeks the differences among three consumer groups (stayers, satisfied switchers, and dissatisfied switchers) of a company with respect to the factors influencing consumers’ laptop purchases. It is found that core technical features, post purchase services, price and payment conditions, peripheral specifications, physical appearanc The rapid developments in IT sector accompanied by increased competition and acquisitions and mergers in the market, lead both academicians and practitioners to concentrate on the consumers’ purchase decisions in portable PC industry. The NDP group’s report published by PC World state that in May 2003, U.S. retailers made more money selling laptop/notebook computers than they did selling desktops. It was the first time that laptops have outsold desktops in the U.S. This research seeks to develop a better understanding of the factors influencing...
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...requirement to explain the concept of profit maximization. ACTIONS OF APPROACH: 1- Prior to turning in the Task, consider attending a Live Webinar on the Task. Students that attend are much more likely to pass the Task. You can always find an updated schedule of Live Webinars in the Community Pages (link at the top of this document). 2- This essay should be relatively short (1-3 pages) and can be written entirely from the concepts discussed within the McConnell e-text. In preparing for this Task you should read Chapters 7-11 of the McConnell e-text, with specific concentration on the information in Chapters 7 & 8. *Chapter 7 "Business and the Costs of Production" *Chapter 8 "Pure Competition in the Short Run" Chapter 9 "Pure Competition in the Long Run" Chapter 10 "Pure Monopoly" Chapter 11 "Monopolistic Competition and Oligopoly" 3- Formulate your responses to this Task in accordance with an “outline” format. More specifically, when writing your paper – list the Task Element and structure your response immediately thereafter. For each Task Element (or sub-element) create a new heading clearly identifying the Task prompt and ensure that your entire response is contained in the paragraph(s) that immediately follow. Example: Element A, answer. Element B, answer. Do not include the actual question with the Task prompt. IMPORTANT: Including the Task question along with the Task prompt...
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...Journal of Management and Social Sciences Vol. 3, No. 1, (Spring 2007) 11-21 Applicability of the Theories of Monopoly and Perfect Competition -Some Implications Ravinder Rena * College of Arts and Social Sciences Eritrea Institute of Technology Gobind M. Herani * Indus Institute of Higher Education (IIHE) ABSTRACT This paper addresses the concern that monopolies arise naturally out of the free market. An attempt is made to compare and contrast two theories of monopoly economic and political monopoly that this is not true. This paper further demonstrates that the two theories of monopoly have their separate roots in two opposite theories of competition: perfect competition and competition as rivalry. Hence the paper discusses only one of these theories of competition accurately describes the nature of competition in an economy. Besides, the paper also delves the two theories of competition and monopolies are derived from collectivist and individualist political philosophy. It illustrates how perfect competition and economic monopoly have undermined economists' understanding of the actual nature of both competition and monopoly. After investigating these theories, an attempt to made to apply them to show how one can come to very different conclusions about when monopoly power does and does not exist. Keywords : Monopoly, Perfect Competition, firm, industry, government, egalitarianism, etc. 1. INTRODUCTION It is often claimed that a free market leads to large firms gaining...
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...Perspectives on EU Competition Policy Table of Contents Introduction 1 The 1989 Merger Regulation, Neofunctionalism and Spillover 2 M&As at the National and EC level 1983-1990 5 The Need for an Additional Approach: Regulation 1/2003 and New Institutionalism 6 Conclusion 9 Bibliography 10 Introduction Competition policy is a major policy area within the European Union (EU), and it has been a core executive function for the European Commission since 1962. Being an area of exclusive competence of the EU and with the Directorate-General of Competition (DG Competition) firmly in power, it constitutes an interesting case for understanding the European integration process and the contemporary consequences for business. Two major policy changes, in 1989 and in 2003, make it possible to investigate how to accurately explain the development in the area. I argue that until 2003, neofunctionalism offers the best analytical tools for understanding the process, as it accurately explains and predicts the expansion of the policy competences of the DG Competition through a variety of spillover-effects, mainly from the Single Market. But while neofunctionalism is analytically advantageous at the macro-level, it is applicable only to a point, as it cannot explain the apparent decentralization of executive power taking place with the introduction of Regulation 1/2003. Here more power was delegated to the national competition authorities (NCAs) at the surface, but at the same time...
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...Porter's Five Forces: Analyzing the Competition By Katherine Arline, Business News Daily ContributorFebruary 18, 2015 08:35 am EST Credit: vichie81 | Shutterstock Whether you are starting a new business or looking for more insight into your existing company's prospects, you probably have questions about the competition. One way to answer those questions is by using Porter's Five Forces model. Originally developed by Harvard Business School's Michael E. Porter in 1979, the five forces model looks at five specific factors that help determine whether or not a business can be profitable, based on other businesses in the industry. "Understanding the competitive forces, and their underlying causes, reveals the roots of an industry's current profitability while providing a framework for anticipating and influencing competition (and profitability) over time," Porter wrote in a Harvard Business Review article. "A healthy industry structure should be as much a competitive concern to strategists as their company’s own position." According to Porter, the origin of profitability is identical regardless of industry. In that light, industry structure is what ultimately drives competition and profitability —not whether an industry produces a product or service, is emerging or mature, high-tech or low-tech, regulated or unregulated. "If the forces are intense, as they are in such industries as airlines, textiles, and hotels, almost no company earns attractive returns on investment," Porter...
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