Apply Important Microeconomics Concepts Toward the Competitive Strategies of an Organization
Apply important microeconomics concepts toward the competitive strategies of an organization that operates in an industry of your choice. 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. Walmart
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 if under each of the following market structures:
- Perfect competition
- Monopolistic competition
Identify three or more competitive strategies of your choice that may be used by the organization to maximize its profits over the long run. Apply Important Microeconomics Concepts Toward the Competitive Strategies of an Organization. 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:
- What are the ethical implications of these strategies?
- Does this strategy align with the organization’s current values?
- Does this strategy align with your own values?
Cite a minimum of 3 peer reviewed sources.
Select one of the following two options:
Option 1: Paper:
Write a 1,400- to 1,750-word paper.
Format consistent with APA guidelines.
Click the Assignment Files tab to submit your assignment.
Option 2: PowerPoint® Presentation:
Create a 15- to 20-slide Microsoft® PowerPoint® presentation including detailed speaker notes. Apply Important Microeconomics Concepts Toward the Competitive Strategies of an Organization
Fortune Global 500 identifies Wal-Mart, the American firm, as the largest discount stores chain and the largest in terms of revenue among public entities. The corporation was started in 1962 by Sam Walton with a current workforce of about 1 million people. Its success is largely attributed to the high entry barrier in the market….. Apply Important Microeconomics Concepts Toward the Competitive Strategies of an Organization