ASSIGNMENT INSTRUCTIONS ARE LISTED BELOW. PLEASE HELP ME ADD ON TO PART 2 & PART
ID: 1226223 • Letter: A
Question
ASSIGNMENT INSTRUCTIONS ARE LISTED BELOW.
PLEASE HELP ME ADD ON TO PART 2 & PART 1
The purpose of this assessment is to help you understand the various types of market structures and their features.
This discussion is in two parts. Complete one part at a time, in separate responses, starting with Part 1.
Part 1: Select a listed firm and familiarize yourself with the operations of the firm, using ITT Tech Virtual Library or any other credible source.
Based on your research, discuss the following points:
1. Identify the business and determine the general type of market structure—perfectly competitive, monopolistically competitive, oligopoly, or monopoly.
2. Name the attributes of this business that you believe determine its market structure.
3. Identify the possible reasons for which this firm follows this type of market structure.
Part 2: Imagine you are the CEO of the competitor of the firm you researched in Part 1. With this brief in mind and based on your responses in Part 1, discuss the following questions:
What market structure do you believe would best suit your firm?
If given a choice, would you like to compete or collaborate with the firm you researched, considering you both are operating at a similar scale?
What factors shaped your decision for competing or collaborating with the researched firm in Part 1?
Respond to a peer who you believe has identified the incorrect market structure for her/his firm. In your response, be sure to communicate your approach to deciding the market structure that you believe best
ASSIGNMENT
1. Identify the business and determine the general type of market structure—perfectly competitive, monopolistically competitive, oligopoly, or monopoly.
Let’s look at one of the listed firms called Tata Consultancy Services.
The business that they service is software support, outsourcing projects, software development, infrastructure support, data base support and other Information technology related services. They started this business as a small concern. Currently standing, they are one of the giants in this industry. Their market structure is now spread throughout the entire world. They are not limited to just one geographical location of operation. They are spread worldwide. The market structure is so huge, that it does not come under a single person responsible for it. Different people are given different responsibilities based on the geographical location of operation.
2. Name the attributes of this business that you believe determine its market structure.
The attribute of the business that defines that market structure is how well you service your customer, and to what extent you have your customer happy and satisfied. It is a customer based service industry. If your customers are happy, then your market structure will grow gigantically according to it.
3. Identify the possible reasons for which this firm follows this type of market structure.
Since it is a customer service based industry, the firm does not have any other option but to follow the service based market structure. It is also not a monopoly kind of business. There are competitors lying all the way to take away the market share in the business.
PART 2
1. What market structure do you believe would best suit your firm?
As a CEO of the company, the current market structure will be best suited for the company. Clearly, there is no other option to deal with.
2. If given a choice, would you like to compete or collaborate with the firm you researched, considering you both are operating at a similar scale?
3. What factors shaped your decision for competing or collaborating with the researched firm in Part 1?
Explanation / Answer
The firm i choose in part 1 is ford
The firm i am CEO in part 2 is to GM
1) The best suitable market situation for GM would be monopolistic competition, Further GM must be allowed to operate legally in any best way possible to maximise profits.
2) We would defently compete with firm listed above, There is no choice in todays capitalistic open market. If you collude with one firm clearly both of you will loose out in longer term
3) In our market we are not the only players and almost every established car maker is present in our market. There is no way that co-operating with ford would help GM,
Further we still do co-operate in range of issues like Government relations etc.