The market environment in which businesses operate will impact on the behaviour of businesses. This unit requires you to look at the following areas. As we add information and links, we will add links to the following list.
Market types: perfect competition, monopoly, monopolistic competition, oligopoly, duopoly; competitive advantage, behaviour and strategies adopted by firms; role of Competition Commission, and regulatory bodies eg Oftel, Ofgas, Ofwat
Market forces and organisational responses: supply and demand, elasticity, customer perceptions and actions, issues relating to supply, cost and output decisions short run and long run, economies of scale, growth of organisations: reasons, methods, financing, MNCs/TNCs joint ventures, outsourcing; core markets/skills, technology and innovation, labour market trends, cultural environment
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