Business Ethics Concepts and Cases Ethics means the behavior and actions of an individual or organization leading to the common good of the society and company. The best way to begin the discussion of business ethics is by looking at how real companies have incorporated ethics into their operation. Merck and Company a well-known name in the pharmaceutical industry resolved the issue of disease called river blindness. River blindness was a disease prominent on the river coast in the third world countries
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QUIZ 2 Post Graduate Programme in Management (Section ‘E’) 2009-10 Time 1 hour Instructions Total Marks 40 1. Exam is closed book 2. All questions in Part A and in Part B
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FORMS OF INDUSTRIAL ORGANIZATION Forms of Industrial Organization Forms of Industrial Organization Introduction According to McConnell and Brue “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
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price movement‚ the electricity tariff will be significantly affected. Due to the fluctuation of fuel price‚ the cost of electricity may be too high causing an unfair pricing to the consumers. As a resolution of the issue coupled with the natural monopoly market structure of Tenaga Nasional Berhad (TNB)‚ beginning 1st January 2014‚ Energy Commission Malaysia (Suruhanjaya Tenaga)‚ the regulatory instrument of energy industry has implemented Incentive Based Regulation (IBR) that enables the consumers
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Market Structure and the Role of Government 1. Explain the unique characteristics of the four primary market structures. The four primary market structure are perfect competition‚ monopolistic competition‚ oligopoly‚ and monopoly (Quickonomics‚ 2017.). Each of these four characteristic of the market structure has a great influence on the decision-making and the profits (Quickonomics‚ 2017.). In perfection‚ this is a situation by which a large number of small firms compete against each other. Similarly
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essentially oligopolistic in nature. Analyse the pricing and supply strategies of the key firms operating in this market. Introduction This report explains the theory of oligopoly and discusses how Australia ’s airline industry provides a solid example of an oligopoly market. It uses case studies of Qantas‚ Jetstar‚ Virgin and Tiger airlines to demonstrate how they all need to employ profit-maximising strategies that take into account the likely response to the strategies of other firms. Airline
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together act as a monopoly. Collaboration When two or more oligopolies agree to fix prices or take part in anti-competitive behavior‚ they form a collusive oligopoly. They agreement can be formal or informal. A formal agreement is a cartel and is generally illegal. OPEC is a legal cartel but it’s signed between countries and not firms. In an informal agreement‚ the firms behave as a monopoly and choose the output that maximizes output. The diagram would be like the monopoly profit maximizer
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Each market structure plays a significant role in the economy. Markets are categorized according to the structure of each industry serving the market. Three of the basic market structures include competitive markets‚ monopolies‚ and oligopolies. These differ due to the different number of strength of buyers and sellers and also the level of collusion between them. There are stages of competition and magnitude of the difference in products. When there are many buyers and sellers of a product
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Microsoft Antitrust Case Did Microsoft violated the Antitrust Law? Microsoft Antitrust Case Introduction: Microsoft was formed in 1975 by a university drop out in his junior year called Bill Gates. Bill Gates has been successful to achieve the company’s vision‚ “we want PC on every desk in every home and office”. Microsoft which is a massive company today was only a small company in 1983. It headquarters contained only a small building next to the Burgermaster in Bellevue and another
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PERFECT COMPETITION Short Run Equilibrium of the Firm Under Perfect Competition: Definition and Explanation: By short run is meant a length of time which is not enough to change the level of fixed inputs or the number of firms in the industry but long enough to change the level of output by changing variable inputs. In short period‚ a distinction is made of two types of costs (i) fixed cost and (ii) variable cost. The fixed cost in the form of fixed factors i.e.‚ plant‚ machinery
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