Differentiating between market structures
Samsung.
Memory chips as the product line / industry.
You will apply important microeconomics concepts toward the competitive
strategies of an organization that operates in an industry of your choice
(This requires instructor approval of which organization to write about. Use
the instructor discussion thread. Do this earlier in the W4 [before
Friday]). You will evaluate the differences between market structures and
identify a group of competitive strategies consistent with the market
structure that best aligns with the market in which the organization
competes. You will assess how the market structure positively and negatively
affects the organization’s ability to earn an economic profit over time and
evaluate the effectiveness of the organization’s competitive strategies.
Select an industry. Identify an organization in that industry. Your selected
organization must be submitted for instructor approval — submit for
approval before Friday of W4.
Identify the market structure in which this organization competes. Clearly
indicate why the market structure was decided upon and how this market
structure differentiates from the other alternatives.
Describe the level of competition the organization will face. This is
dependent upon clearly identifying the correct market structure. [Make sure
to consult with the Colander text, and also the MJM Foodie vidoes].
Identify three or more competitive strategies of your choice that may be
used by the organization to maximize its profits over the long run. Evaluate
the effectiveness of these strategies in the market structure you
identified. Consider the following:
.Expected changes in supply and demand
.Price elasticity of demand
.Market structure
.Government regulations
Make recommendations related to the strategies the organization might
consider to maximize its profits and consider the following:
.
Cite the Colander text, MJM Foodie and a minimum of w published works,
referring to the company and its current or past performance, using APA.
Write a 1,400- to 1,750-word paper.
