In competitive markets economic profit becomes zero in the long-run. However, it is also possible for somefirms to earn a greater accounting profit and to enjoy a higher producer surplus than other firms. How is it possible?
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In competitive markets economic profit becomes zero in the long-run. However, it is also possible for somefirms to earn a greater accounting profit and to enjoy a higher
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- I used to work at a non-franchised cleaners back in the day when I was in high school. After purchasing all the dry cleaner equipment, the organization was “cash poor.” In seeking to create a competitive advantage given the organization’s economic circumstances, what options might the company have to achieve a more favorable cash position?Explain how companies can respond to the environment? Also discuss that how changes in the economic environment effect management decisions? Suppose that you're going to start a new business, for this analyze your environment with the help of Porter's five force model?In the midst of a multitude of facts, data, and statistics, what fundamental economic models and analytic methods can managers employ to make sense of how market forces affect opportunities and constraints?
- Sustaining competitive advantage can be challenging. The entry of new competitors, the possibility of imitation, and the changes in the firm’s context can affect the firm’s profitability and, historically, have affected firms that had competitive advantage in very distinctive ways. For instance, Coke and Pepsi have sustained their market dominance for nearly a century. On the other hand, General Motors and Ford were hit hard by competition, in particular of foreign companies entering the market, and never fully recovered. What is different about the product/market situation in these cases that affects the sustainability of their competitive advantage? Which elements of the strategic landscape were responsible for Coke and Pepsi’s success and which elements were instrumental in GM and Ford losing an important share of the market?1.Describe how a company’s mission statement and objectives affect the way management plans its business portfolio. 2.What does the economic environment consist of as far as marketers are concerned, and why is it so important for them? 3.Who are the Gen Zers, and why will they become interesting to marketers in the future?Explain how current economic indicators, such as inflation and unemployment, affect you personally. How do you think the Covid 19 Pandemic has affected businesses? How has the Covid 19 Pandemic changed inflation or unemployment factors – explain how. Explain how they may affect you as a manager with employees and a business to operate.
- Is this statement true or false? It is advisable for entrepreneurs to make detailed cost calculations for every product or service they are selling. Through this effort, they can price their products competitively without sacrificing their profit margins.What is the relevance of entrepreneurship and entrepreneurs in economicdevelopment and society. Explain it in 400 words with the terms below. You may explain it by giving a scenario or an example. Improves the quality of life Brings social benefits to the people this is not a writing assignmentCritical Thinking What role has technology played in the globalization of businesses? Has technology lev- eled the economic playing field, or has it merely in- creased the distance between the "haves" and the "have-nots"? Give at least one example of each and explain your position.
- 1) After you estimate an industry earnings multiplier , how do you determine if the industry's multiplier is relatively high or low ? 2) What are the five basic competitive forces that determine the intensity of competition in an industry and thus , its rate of return on capital?What is necessary for a business to survive in the long term?You work for a small company that has the leading position in an embryonic market? Your boss believes that the companys future is ensured because it has a 60% share of the market. The lowest cost structure in the industry, and the most reliable and highest - valued product. Write a memo to him outlining why his assumptions might be incorrect.
