Monopolistic competition in fastfood business Essay

Monopolistic competition in fastfood business - Essay Example The purpose of this paper is to examine the extent to which the competition in the fast food industry fits the description of "monopolistic competition "as well evaluate how major fast food chains compete in the industry and what challenges they currently face. It is clear that fast food industry is one of the most competitive industries in the USA. Most of the fast food chains provide their customers with almost identical menus (especially two largest rival companies - Burger King and McDonalds), it is relatively easy for the company to enter the market of the fast food; in spite of the fact that domestic market is saturated fast food industry is still regarded as one of the fastest growing industries in the world. In the USA, consumers spent more than 100 billion dollars on the fast food in the year 2000, and according to the information provided by National Restaurant Association, the sales in 2006 might reach the new record level of 142 billion dollars (though this is less that the level exhibited by full service restaurants- 173 billion dollars). According to many observers fast food restaurants have been recently under competitive pressure from fast casual restaurants that provide their customers with food of higher quality at the reasonable price. 3 There are many fast food chains in the USA, and most of them prov... taurants have been recently under competitive pressure from fast casual restaurants that provide their customers with food of higher quality at the reasonable price. 3 Product differentiation in the fast food industry. There are many fast food chains in the USA, and most of them provide the customers with almost identical products. There is a slight difference in cooking process between Big Mac provided by Mc Donald's and King Supreme, relatively new product of Burger King. Neither the menu of Wendy International (with standard set of hamburgers and chicken salads) differs in any significant aspect from the menu provided by two largest national fast food chains-McDonalds and Burger King. In order to succeed in the market the companies have to promote and advertise their products as successful advertisement campaign might create some "virtual "differences among the products; they also should stay abreast of the latest changes in the market. These differences are usually created through advertisement and are very important in the industry of "monopolistic competition". With the increased health consciousness among the consumers of the fast food chains, new advertisements campaigns conducted by the chains are aimed to convince the consumers that the food is healthier. This is usually done by including more salads in the menus of the chains. For instance John Schuessler, a chairman of Wendy's chain claimed that it poorly performance in 2004, might have been caused by the steps taken by competitors that included salads to their menus.4 Other commentators however claimed that poor advertisement campaign and inability of the chain to adapt to the new challenges were the main reasons of the poor results that the company showed. Apart from adding salads other chains

REFLECTIONS ON YOUR JOURNAL AND THE COURSE Coursework

REFLECTIONS ON YOUR JOURNAL AND THE COURSE - Coursework Example may fall sick at the workplace, either because of overworking or pitiable working conditions, they do not ask for leave because they fear losing their jobs. â€Å"Factors affecting working people today† is also another compelling story (Friedman). It details the economic and social conditions that affect workers in the contemporary society. Top of the list is unworthy working conditions, coupled with other factors such as low pay or underpay, change in technology, insecurity, and cultural and religious differences. The central theme in the stories is unworthy and deplorable working conditions that modern-day workers face in their course of duty. Poor management or negligence in the part of the administration to offer its workers a suitable working environment is a central reason for sickness and work-related injuries. From the journal reading, there are some policies and strategies that employees should adopt to ensure workers do not fall sick. Sickness and absenteeism affects productivity in a workplace, and this is detrimental to the success of an organization. It is essential that employers ensure the safety of their employees at all times through provision of appropriate safety equipment and provision of a healthy work environment. In addition, they should adhere to and enforce necessary labor

Beijing china Essay Example | Topics and Well Written Essays - 1000 words

Beijing china - Essay Example These signs of Beijing being the cradle of civilization made many travelers to visit the city, considered the capital of the East’s civilization. This speech intends to give you overview information on Beijing, so that you may appreciate not only the role of the city in ancient civilization but also its central role in shaping the economy, politics, culture and social spheres of modern civilization. In this speech, Beijing’s history, location, population, administration, economic development, education, health, culture religion language hotels, climate, travel tips, transportation shopping and nightlife are explored. This information is not only important for visitors to the city such as international students but also to local students interested in the rich history and economic development of the city. Fact about Beijing In Chinese, Beijing means the city to the north. As mentioned earlier, Beijing’s history can be traced to more than eight centuries ago, durin g the Jin Dynasty (1115-1234). Built as Beijing by the Jin Dynasty, the city would later be named Zhongdu, after being seized by Mongol armies in 1215 (Li et al., 2007). The city was later renamed the Great Capital (Dadu) by the Yuan Dynasty (1271-1368). The Ming Dynasty (1368-1644) later renamed it Beiping, the Northern Peace on August 2, 1368 (Tourbeijing.com, 2012). From this brief history of the city, it is clear that despite Beijing being started by the Yuan Dynasty (1271 - 1368), it was actually immensely reconstructed during the reign of the Ming and Qing Dynasties (1644-1911). After these two dynasties, the city was transformed into an architectural masterpiece and emerged as the undisputed capital of the Chinese empire. Beijing’s location is the other aspect of the city worth knowing. Generally, Beijing covers approximately16, 800 square kilometers with 38% of it being flat land and 62% mountains. It is located 40 degrees north latitude and 116 degrees of longitudes (Tourbeijing.com, 2012). It is to the northern parts of China and borders Hebei Province to the north, west, south, and to a small extent, the east. It borders Tianjin Municipality to the southeast. As of 2009, Beijing’s population was 20 million people with about 5 million living within the city center and the rest on the peripheries. For administrative purposes, the city is divided into two counties and fourteen districts with Fengtai, Dongcheng, Chaoyang, Haidian, Xicheng and Shijingshan being closer to the city while Tongzhou, Pinggu, Mentougou, Shunyi, Changping, Daxing, Huairou and Fangshan are on the outskirts. Economic Development, Health and Education A speech on Beijing would not be complete without mentioning the city’s economic development since its emergence. Of particular importance is the economic development of the city since the mid-20th century. In this period, Beijing transformed from a consumer city to a major industrial and global city. Currently, it does not only rank among the centers of power in China; Beijing is among the top Chinese investment hubs. In fact, with the current reforms in China, Beijing has managed to open up to improved urban construction. This development record saw the city host the Olympics Games in 2008 during which Beijing

Explain why sea level histories, coastal sector by coastal sector, Essay

Explain why sea level histories, coastal sector by coastal sector, will vary. How are the histories assembled What is the best substitute for a welldated loca - Essay Example In terms of conservation measures it is noted that the Earth's crust has varied terrain and topography that each require exclusively special techniques for sustainable consumption. The paper specifically inquires into one such terrain - coastal zones - in one specific country - Australia. It is not only present consumption levels that must be sustainable but also future ones that accrue through present and future development. The coastal zone, anywhere, is a combination of different types of terrain and topographies and techniques used to conserve it under separate forms of human exploitation are all housed under one countrywise policy - integrated coastal zone management (ICZM). In the context of the paper ICZM shall be reviewed in the context of sea-level histories in special relevance to the Commonwealth of Australia. "Everybody wants access to the coast. The.coast is where people want to live, do business, create development and where people want to recreate (Holliday, 1998) (Derived: Ed. Lazarow et al, 2006). This simple quote puts in a nutshell the types of human exploitation that coastal zones may be subjected to. Australia has a coastal zone that extends almost 36,000 km, excluding external territories, and is considered one of that country's greatest assets (National Cooperative Approach, Australia, 2006). The 'National Cooperative Approach to Integrated Coastal Zone Management, Framework and Implementation Plan' is a report produced under the 'Natural Resource Management Ministerial Council', Commonwealth of Australia. The wide biodiversity thriving within this extensive zone exists in an interaction among the interesting mix of terrestrial, marine and estuarine ecosystems that are generated by the wide-ranging array of climatic, geographical and oceanographic variants (National Cooperative Approach, Australia, 2006). The variants within the habitats and life-forms require as wide a range of conservation measures and these measures are further complicated by the wide-ranging varieties of human activities this broad band of Australian territory attracts. Taking into consideration this wide r ange of factors that have to be assimilated in conjunction to enable positive conservation under projected levels of future consumption, partly derived from development, a result-oriented ICZM plan for the extensive Australian coastal zone is highly complex. This is borne out by the fact that the 'State of the Environment Report (2001)' that notes that, despite efforts at efficient CZM (coastal zone management), zonal quality, as per diverse predetermined criteria, continued to deteriorate and the rate of consumption of coastal resources continued to increase at a rate that would be unable to provide sufficient time for already jeopardized resources to recover (National Cooperative Approach, Australia, 2006). This last noted fact emphasizes the importance of this paper that strives to ascertain how sea-level histories can assist in ICZM. This is how the next part of the paper is

Define Newtons 1st, 2nd and 3rd Laws. How do these relate to an Essay

Define Newtons 1st, 2nd and 3rd Laws. How do these relate to an exercise Give at least 3 examples - Essay Example It states that if a force is exerted on a body with mass m then the body would only accelerate or decelerate in the direction of the relative forces. Hence it can be concluded that F=ma where f is force, m is mass and a is acceleration. A real life example of the second law can be considered when the horsepower of a car is analyzed. If a car has a horsepower of 2300CC then it would move at a great speed. Similarly if the mass of this car is increased then the speed would decrease in the same manner. And lastly if the horsepower of the car is increased without changing the mass then the car would move at an even higher speed. The third law of Newton states that every action has an opposite reaction which would try to oppose the action in real. A real life example of this law can be seen when we are swimming or rowing. It is seen that as we push the water behind the water exerts a force in response which helps us move ahead. Both action and reaction can be seen in this

The Case of Samsung Study Example | Topics and Well Written Essays - 500 words

The of Samsung - Case Study Example Solutions to the three issues require the inclusion of decision-making, strategic planning, and goal setting. The problem of competition can be solved by acquiring competitive advantage (Mars, 2009). Samsung can acquire this advantage by focusing on creating more appealing features to their products so as to attract more customers and establish customer loyalty. The problem of unproductive marketing strategies can be solved through market specialization in specific expertise for specific markets. Price fluctuation can be solved by developing a plan that helps to determine foreign countries exchange rates (Lindros, 2014). With this knowledge, a company can take financial actions in a more systematic manner. What the case of Samsung tells about strategic management is that it is a comprehensive process that involves a systematic set of activities that rely on resources and clearly defined actions. In terms of resource, the company relies on human and material resources as well as raw m aterials to be able to deliver. Strategic management also relies on teamwork specifically through a product marketing team that ensures the handset division controls risks and competition from other handset providers such as Nokia. The Case of ZespriAs a large exporter of kiwifruit, Zespri experiences three main issues that include; competition, market instability and fluctuating foreign exchange rates. Zespri faces great competition from other producers of kiwifruit in China and Italy as well as competition from other alternative crops.

Extremely Fat and Barely Digesting Junk Essay Example | Topics and Well Written Essays - 1750 words

Extremely Fat and Barely Digesting Junk - Essay Example   Healthy food is cheaper for consumers, therefore more money remains in savings, living standard increases, healthy way of life can be (and should be) example for the further generation, it means much healthier and tough people. All people know that with a bad fuel car will drive for two or three meters then it will be broken. So the people are, people’s fuel is food and bad food can cause problems with proper digesting since the organism is the system of systems, malfunction of one will ruin others. Proved fact that abusive eating of fast food results in problems with health decreases savings, cultivates the improper way of life and disregards of healthy food. Failure of digesting system (diabetes or obesity) results in the problems with locomotor and endocrine systems and it can lead to fatal outcome. Healthy food provides enough energy for the proper functioning of the organism and human body remains healthy. Spreading of fast food concept can critically affect the society. Increasing of fast food institution taxation will not have the result, such institution will raise costs for favorite American food and they buy it even for enormous prices, it will make people from the low-income class feel the last hold slipping away. One should use other methods of impact; however, such methods will not be discussed in the present paper. The rate of people suffering from obesity and diabetes is constantly sky-rocketing. Understanding of what is healthy, and what is not will help people to fight killing diseases. It needs fundamental changes, and not only in the government, more importantly, to change the mentality. Society should eradicate the concept of eating-on-the-run. The most precious thing in human’s life is health; nothing in the world will help to return health. And junk food is strong means to deprive the health.