Lecture 10: Game Theory/ Oligopoly Managerial Economics BSP 1005 D2 November 2011 Sanjeev Mohta Oligopoly Small number of firms Great deal of interdependence Interdependence leads to strategic behavior Conditions may promote collusion No single model of oligopoly Many models depending on circumstances Conclusions from some Oligopoly models The oligopoly firms will conspire and collaborate to charge the monopoly price and get monopoly profits. The oligopoly firms will compete on price
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Future Career Aspirations Answers Let’s understand with the help of an example: Interviewer: “What are you long term career aspirations?” Interviewee1: “I look forward to leverage my expertise in ‘Software Development’ at an MNC that offers me challenging job roles and a wider arena to work and perform.” Clearly‚ the interviewee is pretty assertive of his needs. He wishes to secure a job in a large organization that provides him with a higher DESIGNATION‚ a better PAY PACKAGE and more exposure
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an organizational set up. The role of HR manager has confined to paper work related to recruitment and termination of employees‚ compensation and incentives‚ impart training to employees and design of developmental programmes etc. The HR Manager is responsible for implementation of policies made by CEOs or line Managers. David Ulrich has emphasized that the role of HR should be organizational excellence rather than focusing on fundamental HR issues only. HR has to take the lead to enable organizations
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and combat. Typically‚ it is embedded in policies and practices that‚ although appearing neutral on the surface and being implemented impartially‚ have adverse impact on specific groups of people for reasons that are not job related or required for the safe and efficient operation of the business (2 points) Question 2: Recruitment Under what five circumstances should a private employment agency be used? 2 points per circumstance no HR department
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about becoming a Human Resources Manager. In my current role I am an Office Manager‚ where I focus on the basic aspect of the human resource field. I would like to further my career in this field since there are so many. I plan on becoming a HR manger and/or HR director. With the extremely high competition in the business world‚ corporations are looking to recruit the best and the brightest in employees. To keep these employees happy and to reduce huge turnovers‚ companies have relied on human
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laws in the area‚ in which you’re planning to expand your business‚ there are several things that must be in place. In order to open/start your business in Arizona this things are a must have and HR should see to this immediately. Must Have Employee handbook‚ Employment agreement‚ Drug Testing Policy‚ Confidentiality Agreement‚ Required Posters‚ Documentation Retention‚ and 1-9 Immigration Training‚ are all things that must be in place.( employmentandthelaw.com/2013) Failure to have these essential
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E HR solutions can provide a creative and cost effective way of delivering HR services and can be a tool in HR transformation. Do you agree? Yes I agree. To justify my response I will begin by defining and describing HR transformation What is HR transformation? HR Transformation focused on making HR operations more efficient and effective through process standardisation and technology. The next generation of HR Transformation is more tightly linked to corporate strategy and to creating business
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Ideal HR Department OL 600 Strategic Human Resource Management. 06/08/2011 Executive Summary Human Resources department should have a clear picture and understanding of what is need it in today businesses‚ this can be accomplish by communicating the employees the business objectives and be capable to develop and execute policies which are in place at
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I would like to think of myself as more of an advanced HR professional versus a strategic expert‚ even though that is what the test indicated. Organizational design‚ communication‚ performance management‚ selection‚ staffing‚ retention‚ rewards‚ compensation‚ training‚ development‚ coaching‚ consulting‚ employee relations and conflict resolution was some of my strongest competencies. Back in 1993 I joined a small employee benefits firm which specialized in Section 125 plans and the administration
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one of the most significant approaches that suggests ways to achieve sustainable competitive advantage through HR. VALUE HR executives must address a primary question “How can HR aid in either decreasing costs or increasing revenues?” In today’s time when everyone is talking numbers; the HR department has to prove its worth and show that it creates value for the organizations. HR can help a firm achieve sustainable competitive advantage by creating value. Example: FedEx‚ which are the market
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