Assignment:
Assignment Description
This assignment is intended to determine the efficiency and profitability of different organizational arrangements. An organization could be a small business (a restaurant, a hairdresser, a singer, an artist, a gift shop, a street vender, etc.), a large private organization (a manufacturer, a university, a hospital, a charity, a distributor, a transportation provider, a bank, etc.), or a governmental agency (a public school, city services, a correction facility, a tollway, a park district, a postal service, a public transportation, etc.).
You could choose to discuss the market structure in which a specific organization is operating in, or you could choose to discuss the advantages, disadvantages, and differences between larger structures such as private versus public ownership, capitalism versus socialism, and corporate ownership versus small private ownerships.
To start, select an organization (a private small business, a corporation, a charity, or a government agency) that you wish to analyze for this assignment.
Your research needs to be structured with consistent and clear thoughts. It also needs to be supported by facts and data. Your results need to be based on solid facts. Your conclusion and opinion need to be thorough and based on your findings and understanding of the characteristics of different market structures.
· Introduction
Describe the organization that you wish to analyze. State its commodity, business model, target market, specialization, product differentiation, pricing strategy, and market share. In addition, describe the market structure it operates in (monopoly, oligopoly, monopolistic competition, or perfect completion) and state the characteristics of this business that make it fall into this market structure. Moreover, state the organization's main competitors and the strategies it uses to remain competitive in the market. In addition, state that one characteristic that its commodity has that makes them unique in their market.
· Data
o Obtain data from at least three credible sources (not Wikipedia) to provide facts about market share, pricing strategy, growth, revenue, and profit maximization approaches.
o Use tables, graphs, and figures to support your argument (if available).
· Analysis
Here, you need to determine whether the commodity this organization provides is elastic or inelastic, and why. Then discuss the advantages and disadvantages, as well as opportunities and threats, of operating in this market. In addition, discuss the profit maximization strategies this organization uses. Moreover, discuss the level of market power this organization has in the market they operate in and the reasons they have such market power. Do they have control over prices (price maker) or do they have no control (price taker) and why?
· Conclusion
Provide your own final thoughts, opinions, and understanding of the benefits of operating in this market structure. Also, state what else this organization could do to gain more market power and to maximize their profits.
Reference List
Use at least three professional sources to support your argument. The references need to be in APA format. To learn more about APA format, click on the link below.