For this week's discussion, the focus will be on examining Porter's Five Forces as a tool for looking at the pressures on profits. Specifically, you will be looking at defining Porter's Five Forces and applying this tool to the market structures and pressures on profits of a chosen group of firms.
Review the two groups of firms below:
- Group 1: the accommodations industry (e.g., Hilton, Marriott Bonvoy, InterContintental Hotel Group).
- Group 2: the wireless telecommunications industry (e.g., Verizon, AT&T, T-Mobile).
In your discussion post, address the following:
- Which of these groups operates in a monopolistic competitive industry? Which operates in an oligopoly?
- How did you determine the classification of each group? That is, what are the key characteristics of each group that indicate the type of industry it operates in?
- Chose one of the groups and use Porter's Five Forces to analyze the pressures on profits for your chosen group's firms.
- If you want to dig deeper into how one of the firms views the challenges it faces, you might want to look at the firm's investor page.
Note: In your discussion posts for this course, do not rely on Wikipedia, Investopedia, or any similar website as a reference or supporting source.
Explanation & Answer
I appreciate working with you! In case of any further edits, please do not hesitate to let me know! See you soon! Remember me as always! Would love and appreciate to work with you in the future! Goodbye
Running head: OLIGOPOLY AND MONOPOLISTIC COMPETITION GROUPS
Oligopoly and Monopolistic Competition Groups
OLIGOPOLY AND MONOPOLISTIC COMPETITION GROUPS
Oligopoly refers to a market that is dominated by a small group of firms that work closely
to control the overall operation of the market. These firms interdepend on one another to make
critical decisions that controls the entire ind...
24/7 Homework Help
Stuck on a homework question? Our verified tutors can answer all questions, from basic math to advanced rocket science!
How to Win at the Sport of Business
by Mark Cuban
by Donald J Trump
A Portrait of the Artist as a Young Man
by James Joyce
by Stephenie Meyer
by William Shakespeare
Girl Stop Apologizing
by Rachel Hollis
by Hermann Hesse
And Then There Were None
by Agatha Christie