You will 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. Your selected organization must be submitted for instructor approval. 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: Oligopoly Perfect competition Monopoly 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. 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 assignment 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. Guidance for this assignment I prepared this guidance document to show you how you can earn full credit for your week-3 paper. This should be 1400- to 1750-word long, and you can use information from real life and textbook with proper reference. The paper should have six sections as follows: Section 1: Introduction (1-point) For this section, you may or may not use heading. This will be a paragraph of three to fine lines and will explain in short what you discussed in the entire paper. Be mindful when you write the section. The objective of this paragraph is to give your reader what to expect in the body of the paper (for other sections, you must use headings; please see page three for the penalty for missing any other section headings). Section 2: Background (4-point). For this section, you must have heading (see penalty for missing a section heading). This section will clearly define four Market Structures: Oligopoly, Perfect competition, Monopoly, and Monopolistic competition. You should have two paragraphs in this section; the first paragraph should be a definition of each of the structures. The second paragraph will include a brief summary that will include the profit maximizing strategies for companies in each of these structures. Be mindful and make sure that each paragraph includes what is suggested in this paragraph. Section 3: Chosen Organization (3-point) For this section, you must have heading (see penalty for missing a section heading). This section will have at least two paragraphs; First paragraph will include the chosen company description and its main product or services.
The second paragraph include the factors that are affecting the sale prices in the market in which the competitor organization operates. You must have an in text citation for this and the source must be included in the reference page. Please see the citation generator in the center for writing Excellence to help you with the in text citation and reference page (3-points). Section 4: Recommendation (3-points). For this section, you must have heading (see penalty for missing a section heading). This section will have at least two paragraphs; 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? The second paragraph should justify your recommendation. Section 5: Conclusion (1-point) For this section, you must have heading (see penalty for missing a section heading). This section will have just one paragraph where you will draw a conclusion of your paper. Headings (2-points) If you miss a single heading, you will lose 2-points in addition for the loss of contents. The paper must be free from spelling, grammar, and APA formatting errors (1-point). You must check your paper for plagiarism. There is severe penalty for a plagiarized paper. The UOPX rule requires instructors to report all plagiarized cases; the plagiarisms cases are stored in a central data bank in a permanent record; in addition, plagiarized papers will earn “0” for the assignment; and depending on the situation, the university may remove you from the class and ask you to take additional workshops before you can proceed with your course work. This will cost you more time and headache but no credit. Obviously the best strategy for you is to focus on the topics, organize those, and start writing with the help from Simulation, Khan Videos, Textbook, and/or the University library.