An explanation of monopoly, oligopoly, perfect...

The Australian market is a diverse economic ocean - it has different species of marine life (industries), different swells (market structure) and even hot and cold spots (public companies). One of the key determinates to a successful national economy is the structure of its markets. The main market structures are: 1. Monopoly 2. Oligopoly 3. Perfect Competition 4. Monopolistic Competition Each of these market structures have unique characteristics, and can be classified according to three factors. The degree of competition, the first factor, is important as it classifies markets into different market structures. It compares the relative sizes of firms, the amount of sellers (vendors) and the barriers of entry to the market. The†¦show more content†¦They can only accept the prevailing market price. There are no barriers for entry to the industry. Any firm can enter the market and the present sellers cant stop that firm from entering. Advertising is practically pointless in perfect competition - because the products are virtually indistinguishable from each other, the purpose of advertising is defeated. Perfect competition is a theoretical market structure. This means that in theory, it is possible, but it is not usually common practice in an economy. Australias fruit and vegetable market, however, would be the most similar. Monopolistic Competition: Monopolistic competition is a market in which a very limited number of very large firms operate, selling similar products. The main difference between the products of the companies is packaging and display. In monopolistic competition, advertising plays an extraordinarily important role - the companies need to distinguish between each others products, and come out saying that theirs is worth purchasing. Another great power in monopolistic competition is a concept known as brand loyalty. The consumer selects the brand that they prefer or appeals to them the most, and they always buy that over the competition. The best example of monopolistic competition would have to be Coke and Pepsi. Both companies release a similar beverage, both have their minor subtleties, and advertisingShow MoreRelatedSupply and Demand and Study Guide20292 Words   |  82 Pagesinvolved in its production. CONTENTS Contents 3 Introduction 5 An introduction to the economic perspective 13 Demand and supply 17 Elasticity 21 Market applications 25 The behaviour of firms and costs 31 Perfect competition 37 Monopoly 43 Monopolistic competition 47 Oligopoly 51 Economic performance, market failure and government intervention 55 Appendix: Guide to working successfully through the unit 63 INTRODUCTION Welcome to Microeconomics 1. In this unit of study, we intendRead More. If You Purchased a New Model of a Digital Camera Right After It Is Released, You Will Likely Pay More Than If You Purchase It Six Months After Release. Explain Why This Is an Example of Price Discrimination on the Part of the Firm.4370 Words   |  18 Pagesyou  regarding what  you need to write for your subjects. If you choose to answer all of the subjects you need to give required  information  for each of the subjects. If you choose only one subject than you will give the required information along  more detailed  information regarding the subject. Also it is very important to follow the format indicated. When you write no more than 4 pages you will receive 37 extra credit points (2%). Four pages include everything except the cover page. If you write lessRead MoreDescription and Challenges of the London Bus System9091 Words   |  37 Pagesdeferred on the grounds that, since 1984, London Transpor t had had a statutory requirement to involve the private sector in the provision of public transport services in London (unlike the rest of the country). As a result, there had been increasing competition for the right to supply bus services in London through the adoption of a tendering process whereby progressively more routes were put out to competitive tender, the bidders being drawn from London Buses subsidiaries, National Bus Company operatorsRead MoreStrategy Management18281 Words   |  74 Pagesmake better strategic decisions. It is a research-based strategy text for the issues that managers face in a globalized and turbulent 21st century, blending theory, empirical research, and practical applications in a student-accessible form. 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In order to safeguard inventory, you need to check periodically to ascertain whether

Ethical Implications Of Ethical Leadership - 830 Words

â€Å"Ethical Leadership is defined as the demonstration of normatively appropriate conduct through personal actions and interpersonal relationships, and the promotion of such conduct to followers through two-way communication, reinforcement and decision-making†¦ [and] the evidence suggests that ethical leader behaviour can have important positive effects on both individual and organizational effectiveness† (Rubin et al 2010: 216-17). Business ethics are moral principles that guide the way a business behaves. The same principles that determine an individual’s actions also apply to business. To practice ethics, it involves the understanding of right and wrong or making a right or wrong decision in business. The way business is run should be transparent and lawful (Mullins Christy, 2013). For example, companies’ products should not violate copyright and patents. Also, they should not use child labour in any business operation. However, to practice business ethics is not simple as companies need to stay competitive by reducing cost and committing illegal business-related actions. Therefore, ethical leadership comes into play as companies’ leaders are the key factor to reinforce ethics in their organisations. The Four V model of Ethical Leadership developed by Dr. Bill Grace based on his leadership research and personal passion in ethical issues. It is the framework that integrates the beliefs and values with behaviours and actions in order to enhance the commonShow MoreRelatedEthical, Moral, And Legal Implications Essay1463 Words   |  6 Pagesand respond to a variety of challenging circumstances. According to Manson (2012), there are four domains of ethical constructs that include codes of professional conduct, ethical principles, law, and personal/moral values (p. 262). As leaders, being prepared with knowledge related to these domains can support decisions. These steps include consideration for the nursing code of ethical conduct, state and federal health laws, and an awareness of personal morals/values. A conceptual framework shouldRead MoreEffective Leadership Skills During An Ethical Dilemma1464 Words   |  6 PagesEffective Leadership Skills during an Ethical Dilemma The purpose of this paper is to introduce ethical frameworks that can help solve an ethical dilemma. I will give an example of ethical issues encountered in a jail setting and an ethical dilemma that I experienced as a result of these ethical issues. I will analyze the moral, ethical, and legal implications that I used in this ethical dilemma. Furthermore, I will explain my leadership role as a patient advocate during this particular moral issueRead MoreLeadership, Trustworthiness and Ethical Stewardship Essay1183 Words   |  5 Pagesgood leader? Without an established trust relationship a leader is unable to be effective. The problem to be investigated is the value of trustworthiness and ethical stewardship in the construct of the organizational leadership model. This paper shall explore the co-functions of trust and ethical stewardship and its impact on leadership effectiveness. â€Æ' Introduction In 2012, there is very little allegiance or loyalty among organizational members. This is partly due to the recentRead MoreThe Demonstration Of Leadership By Craig Johnson Essay1469 Words   |  6 PagesDemonstration of Leadership Craig Johnson wrote an article in November 2008 to evaluate the most controversial tenure of Carly Fiorina, the former Chief Executive Officer of Hewlett-Packard (HP), using the ethical leadership construct. In the article, Johnson generates several questions that relate to leadership and management practices. The evaluation of HP’s former Chief Executive Officer is influenced by the fact that the company experienced a decline in productivity within a short period afterRead MoreThe Chicago School Of Professional Psychology Essay1221 Words   |  5 PagesAnnotated Bibliography Luis A. Santiago-Gaetan The Chicago School of Professional Psychology Brief Introduction This paper contains a brief annotated bibliography of research articles selected on the specific research topic of the perceived institutional ethical behavior of US-based multinational corporations and its relationship with organizational longevity. Following the five peer-reviewed qualitative research articles. APA Annotation Aleksic, A. (2013). How Organizations Achieve Longevity: The Role ofRead MoreThe Evolution Of Business Ethics852 Words   |  4 PagesBusiness Ethics and Social Responsibility Dr. Andree Swanson May 17, 2015 Abstract Just as individuals differ, so do their ethical concepts and value arrangements. 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TechnologyRead MorePerceived Institutional Ethical Behavior Of Us Based Multinational Corporations And Its Relationship With Organizational Longevity Essay1209 Words   |  5 PagesBrief Introduction This paper contains a brief annotated bibliography of research articles selected on the specific research topic of the perceived institutional ethical behavior of US-based multinational corporations and its relationship with organizational longevity. Following the five peer-reviewed qualitative research articles. APA Annotation Aleksic, A. (2013). How Organizations Achieve Longevity: The Role of Change Management in Building Their Sustainability. International journal of the academyRead MoreCase Study648 Words   |  3 PagesAssessment 2 of Managing Under Uncertainty (GSBS 6001) Individual Reflective Journal (Week 5-due on 26.06.2016). Topic: â€Å"Ethics in Management Decision.†-Ethical Decision Making. Done By Student Name: Khalid Bin Hossain Student ID# c3267875. Done For Lecturer: Nimay K. As we have to write an annotated bibliography on the topic â€Å"Ethics in management decision†, I along with my other group members (Poonam and Hilda) arranged a successful group meeting for week 5. On this meeting

Family Conflicts Free Essays

Family Conflicts There are a lot of things that could cause conflict among a family. Some like jealousy, infidelity, and the way you were raised. Jealousy is the natural counterpart of love; when you commit your love to one person, you want an exclusive commitment in return. We will write a custom essay sample on Family Conflicts or any similar topic only for you Order Now Anything that threatens that commitment, whether it is another person, a hobby, a job or a situation, causes jealousy. You want the attention of the person you love; when it is taken by another person, activity or thing, you are jealous for the one you love, and jealous of whatever is claiming that person’s attention. It can cause the family to fight often which causes family to drift apart which causes emotional problems between the parents and children. Infidelity affects everyone in a family not just the parents. The children take a large blow from it too. It can cause them to act out. Experts say children who learn about parental infidelity react similarly to children whose parents divorce, except the emotional responses to cheating are deeper and can have greater, longer-lasting impacts. Children who see a parent cheat lose trust in them because the parent was always telling them to be good. But in the end they were the ones misbehaving. The difference in between parents being raised can have a large impact on the family and how they raise their own children. If a parent was raised in a strict family they might want to pass that to their teaching styles of their own children. But if theres a strict parent and a free willing parent, they may not see eye to eye. That in turn would cause them to fight about how their children should be raised. Which could end up in a crazy custody battle. How to cite Family Conflicts, Essays

The Effectiveness of Organization-Free-Samples -Myassignmenthelp.com

Question: Discuss about the Organisational Effectiveness. Answer: The effectiveness is the simple act of desiring something and achieving it rightly. However, it is not so simple to describe the effectiveness or how exactly one achieves it, as there are multiple complicated ways. If the university in Sydney is more effective than the university in Melbourne is not so simple for me to answer. I will select a university, which is capable of representing other universities and analyze how the university is applying several strategies in order to achieve the effectiveness. The university will be acting as an education industry partner and an effective organization in the education business of Australia. Before that I will discuss and explain what effectiveness is or what its various aspects are. Effectiveness is producing the desired result and accomplishing the purpose (Darling-Hammond 2013). Effectiveness is a concept that has immediate implications in real life. The strong relationship between the theories and the practical implementation are at its core. I will discuss the five key criteria to evaluate the effectiveness. Efficiency is the first important criteria, which is basically the action part of it. Through efficiency the organization manages to perform tasks effectively without wasting the resources. I believe for an educational organization it is very important to be efficient in order to contribute effectively in the business market. A university like Victoria always focuses on utilizing the available resources at its fullest. Victoria University is a popular research and educational organization in the education industry. This Australian university has established partnership with Hong Kong, Germany, Singapore, Malaysia, India, China and USA helps it to establish its presence effectively in international network (Vu.edu.au 2017). Melbourne campus utilizes money invested by the foreign exchange students by offering them other tourism degrees. The study is designed so that it is desirable and achievable for any studen ts from other countries. The business school of the university has close relationship with the industry which enables the students to get academic excellence and hands on experience. An effective organization must meet the second criteria which is the reliability. All the information it is providing, should correlate with each other and deliver a single truth. Victoria University is in the 19th position in the list of top 50 Generation Y universities (Times Higher Education (THE) 2017). It received first grade rating from CEO magazine in their 2017 Global Ranking. The claim to offer limited number of students for each class, industry professional experts, various study options for international students and vale-for money. Their consistent good performance over the years has made them a reliable study option for foreign students, this is effectively adding to their financial benefit. The university possesses unique quality for self adapting human factors. Many universities fail to become effective organizations because they fail to adapt certain changes or needs. Recent controversies about the international students dissatisfaction in Australian universities have caused financial and organizational crisis for many universities in the country (Thecitizen.org.au 2016). The Victoria University with their free environment and various cultural exchange programs established it as an elegant organization, which takes it one step ahead to achieving effectiveness. Not only aspects related to ethics or organizational performance, their role and performance in the business is also important while measuring its effectiveness. Along with the education industry, the tourism, food beverage and hotel industries also get benefitted from the students studying in the university. 2009s Access Economics report reported that international students spend more than 4 billion on living and food expenses and more than 6 billion on tuition fees. The family and friends visit them occasionally which also increase the profit (Cameron 2010). Victoria University implements premium pricing because of their brand equity which results in effective business. All these parts a dd to the organizations synergy. The various departments and activities are integrated which is another criteria that contributes significantly to make it an effective organization. The support from the faculty, administrative staff, other staff and students make the effectiveness happen. However, most people or organizations believe that efficiency is enough to achieve the effectiveness, I disagree. After researching and analyzing various aspects of effectiveness I came to realize that several other criteria are as important as efficiency. Majority of the organizations only concentrate on the efficiency part and ignore the others. In this way overall effectiveness cannot be achieved. All the factors should be considered and utilized with equal importance in order to create the best of effectiveness. I believe the vision of the organization plays important role in the development of effectiveness. The values and vision of the organization lead it to achieve the effectiveness (Anders on 2016). The Victoria Universitys vision is to provide students with career based tertiary education (Vu.edu.au 2017). As I discussed the various strategies it is developing and implementing to fulfill its vision and mission and eventually achieving intended goals. External and internal stakeholders are the key drivers for any effective organization. Stakeholders are key drivers for any organizations successful financial run. The organization must protect the shareholder interest in order to sustain the effectiveness, which is strongly related to corporate social responsibilities (Benn, Dunphy and Griffiths 2014). The organization must promote the shareholder value in order to increase the effectiveness. Just like Victoria University takes initiatives to protect the stakeholders interest by updating the VLP partners about the programs and the student benefits. The university management leadership engages in a project related to stakeholder management to develop a coherent organizational effectiveness. The selection of criteria for evaluating the effectiveness was the primary challenge that I had to face in the initial phase of preparing materials for this essay. The criteria are all interlinked and work collaboratively in achieving the effectiveness. If an organization focuses on one particular criterion more and ignore the others achieving the effectives gets more difficult. That is the reason I chose a university which is working on all the aspects with equal importance and is marking its strong presence in Australian education market. I closely analyzed the criteria in relationship with the practical example and its activities. References Anderson, D.L., 2016.Organization development: The process of leading organizational change. Sage Publications. Benn, S., Dunphy, D. and Griffiths, A., 2014.Organizational change for corporate sustainability. Routledge. Cameron, A. (2010).International students: in our best interests. [online] ABC News. Available at: https://www.abc.net.au/news/2010-11-10/international_students3a_in_our_best_interests/40900 [Accessed 19 Aug. 2017]. Darling-Hammond, L., 2013.Getting teacher evaluation right: What really matters for effectiveness and improvement. Teachers College Press. The Citizen. (2017).Study finds foreign students often underpaid, mistreated. [online] Available at: https://www.thecitizen.org.au/news/study-finds-foreign-students-often-underpaid-mistreated [Accessed 19 Aug. 2017]. Times Higher Education (THE). (2017).Young University Rankings 2017: top 50 Generation Y universities. [online] Available at: https://www.timeshighereducation.com/world-university-rankings/young-university-rankings-2017-top-50-generation-y-universities [Accessed 19 Aug. 2017]. Vu.edu.au. (2017).International agents | Victoria University | Melbourne Australia. [online] Available at: https://www.vu.edu.au/study-at-vu/international-students/international-agents [Accessed 19 Aug. 2017]. Vu.edu.au. (2017).Vision, mission strategy | Victoria University | Melbourne Australia. [online] Available at: https://www.vu.edu.au/about-vu/vision-mission-strategy [Accessed 19 Aug. 2017].