Forms of Industrial Organization - 2091 Words

FORMS OF INDUSTRIAL ORGANIZATION Forms of Industrial Organization Forms of Industrial Organization Introduction According to McConnell and Brue â€Å"Economists group industries into four distinct market structures: pure competition, pure monopoly, monopolistic competition, and oligopoly. These four market models differ in several respects: the number of firms in the industry, whether those firms produce a standardized product or try to differentiate their products from those of other firms, and how easy or how difficult it is for firms to enter the industry† (McConnell Brue, 2005, chap. 21). As part of the MBA/501 course the learning team is tasked with identifying a company for each market structure, and describe the pricing†¦show more content†¦ATT was broken up into the Bell companies in â€Å"1974 by the U.S. Department of Justice antitrust suit against the monopoly† (From Wikipedia, the free encyclopedia). Today ATT has become a competitor vying for control of the telecommunications industry. â€Å"In monopolistic competition, there are many firms vying for contr ol of one market. Each firm offers a different type of product, as opposed to perfect competition in which all offer the same product. Each firm, then, has a monopoly in the market of their own product†(Oracle ThinkQuest Education Foundation) ATT in 1988 began purchasing stock in Sun Microsystems to begin its diversity in product services. Throughout the 90s ATT continued purchasing more computer companies and cell phone companies to gain market share in the growing telecommunication industry (CyberStreet). Good pricing structures align with costs. ATT Wireless realized that the marginal cost of a cellular minute was small compared to the cost of acquiring and maintaining customers. Their switch to a flat fee â€Å"One-Rate† plan was a huge success, stealing heavy users away from the competition. Prices increased for light users and many became hooked on the cellular lifestyle (Lake Partners Strategy Consultants, Inc. [LPSCI], 2001-2004). ATT has seen that the ability to change quickly in the ever-evolving telecommunications market will help in gain market share. Its ability to see the value in keeping customers ratherShow MoreRelatedEssay on Forms Of Industrial Organizations897 Words   |  4 PagesForms of Industrial Organizations Based on production and selling environment economists group industries into market structures. There are four basic market structures namely: (1) pure competition, (2) monopoly, (3) oligopoly, and (4) monopolistic. Differentiating factors of the four markets include, ease of entrance or exit, the number of firms within the industry, and availability of substitutions. It is not uncommon for a market to begin as one type of structure and evolve into anotherRead MoreAssignment on Industrial Relations, Bangladesh1076 Words   |  5 PagesExecutive Summary: Industrial relations is used to denote the collective relationships between management and the workers. Traditionally, the term industrial relations is used to cover such aspects of industrial life as trade unionism, collective bargaining, workers’ participation in management, discipline and grievance handling, industrial disputes and interpretation of labor laws and rules and code of conduct. The term industrial relations explain the relationship between employees andRead MoreImpact Of National Industrial Law And Regulation On The Botswana Public Service1249 Words   |  5 PagesHow have changes to national industrial law and regulation reshaped industrial relations in the Botswana public service? Introduction The issues of industrial relations come from the early times. 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Dunlop (1958), an industrial relations system is comprised of the following actors: * A hierarchy of managers and their representatives in supervision (or employers and their associations) * A hierarchy of workers and any spokesmen (the workers and their unions), and * Specialized government agencies (or the state) concernedRead MoreThe Pin Factory1106 Words   |  5 PagesWhat are the reasons that hierarchies emerge in organizations? What about the roles and the nature of this emergence? Does this aid in structuring these organizations/work areas? In this essay, I will be relating the description of activities that take place in an early industrial pin factory from Adam Smith’s Wealth of Nations to the organizing and structuring of work. 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