Socially Responsible Efforts: Describe each company’s efforts to promote ethical and social good.
Benefits: Describe the organizational benefits from adopting socially conscious policies and practices.
Socially Responsible Policy: Suggest one socially responsible policy that the SNHU Pet Supply Company could put into place. Explain how this would benefit the company and its consumers.

What to Submit
Submit your brief as a 1- to 2-page Microsoft Word document using 12-point Times New Roman font, one-inch margins, and double spacing. Sources should be cited according to APA style.
Module Five Assignment Rubric
CriteriaExceeds Expectations (100%)Meets Expectations (85%)Partially Meets Expectations (55%)Does Not Meet Expectations (0%)ValueSocially Responsible EffortsExceeds expectations in an exceptionally clear, insightful, sophisticated, or creative mannerDescribes each company’s efforts to promote ethical and social goodShows progress toward meeting expectations, but with errors or omissions; areas for improvement may include adding more detail to the response or ensuring that the information is accurateDoes not attempt criterion30BenefitsExceeds expectations in an exceptionally clear, insightful, sophisticated, or creative mannerDescribes the organizational benefits from adopting socially conscious policies and practicesShows progress toward meeting expectations, but with errors or omissions; areas for improvement may include adding detail to the response or ensuring that the response is accurateDoes not attempt criterion30Socially Responsible PolicyExceeds expectations in an exceptionally clear, insightful, sophisticated, or creative mannerSuggests one socially responsible policy that the SNHU Pet Supply Company could put into place, and explains how this would benefit the company and its consumersShows progress toward meeting expectations, but with errors or omissions; areas for improvement may include adding detail to the response or ensuring that the explanation is logical and accurateDoes not attempt criterion30Clear CommunicationExceeds expectations with an intentional use of language that promotes a thorough understandingConsistently and effectively communicates in an organized way to a specific audienceShows progress toward meeting expectations, but communication is inconsistent or ineffective in a way that negatively impacts understandingShows no evidence of consistent, effective, or organized communication5Citations and AttributionsUses citations for ideas requiring attribution, with few or no minor errorsUses citations for ideas requiring attribution, with consistent minor errorsUses citations for ideas requiring attribution, with major errorsDoes not use citations for ideas requiring attribution5Total:100%

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Describe the organization and the organizational issue that adversely affected productivity you propose to review and resolve.

Use the description and feedback from the instructor in the Week 3 Assignment.

Analyze the organization’s culture and how it has contributed to the identified issue.

Hint: Review the mission and vision statement as well as the corporate website for information.

Describe how the current corporate culture facilitated the development of the current issue.
Identify the organization’s areas of weakness as they relate to the issue.

To help identify the areas of weakness, apply your research on organizational behavior approaches to aspects of corporate culture–such as diversity, teamwork, and motivational strategies.

Develop recommendations for management that include the organizational practice modifications you would use to solve identified weaknesses and issues.
References and citations:

Provide at least two quality resources such as the course textbook, a company website, business websites (CNBC, Bloomberg, and the like), resources from the Strayer Library, and/or outside sources. Note: Wikipedia and Web-based blogs do not qualify as credible resources.
You can find in-depth and quality company information using the”¯Nexis Uni”¯database through the Strayer University Online Library.
In-text citations are required when paraphrasing or quoting another source.

Confidentiality:”¯Since you will be addressing real issues in real organizations in your assignments, it is important to respect confidentiality. Feel free to use an alias for any company or individuals you might mention in your assignments. Remember that all discussions about these organizations should only occur within this course and not be shared with people outside the course.

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To prepare for this Discussion:
· Read pages 237–337 (Chapters 29–40) of The Goal.
· As you read this part of the book, consider passages that contain ideas that you find compelling and particularly relevant to effective business management. You will select at least three passages to discuss this week.
o Consider how management challenges were often misunderstood because some managers could not see beyond their own paradigms. Think about how some of the most effective actions focused on the system, and the policy constraints, rather than the immediate, local issues.
· In addition, consider how understanding these concepts might have influenced your past decision making.

Post your analysis of The Goal, to include the following:
· Identify three or more short passages from this week’s assigned reading in The Goal that contain one or two essential ideas that you found compelling and explain why each passage you chose is relevant to and important in effective business management. Be sure to include the citation for each passage in your explanation.
· Then, reflect on and complete this statement based on your own experience: “If I had only known this back when”¦”

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To prepare for this Discussion:
· Identify a time you had to make a tough decision related to work. This should be a time when the right course of action was not immediately apparent or clear-cut. There may have been differing points of view, each with some validity, or perhaps there were some special circumstances in the situation that made the correct and ethical choice less obvious.
· Consider the values, guidelines, and rules that you used to make that decision.

Post a synthesis of a difficult work-related decision you had to make, including how you might approach the situation in the future. Specifically:
· Describe the circumstances surrounding the difficult work-related decision you had to make. In your description, include details about the options you were weighing, why the decision was difficult, et cetera.
· Explain the guidelines, rules, and values you used to make the decision.
· Using the Learning Resources for support, explain how you would approach the situation if it happened again. Would you handle it differently or take a similar action, and why?

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What is the process by which it’s trying to create change? Discuss some of the sociocultural, political, or economic contexts that factor into the need for this program.
How would you consider approaching the program to collaborate on an evaluation?

As always, if you are relying on someone else’s ideas when presenting yours, you should reference their paper, article, etc. This includes sharing references to your fellow students’ ideas!
Response Guidelines

Your Participation: This discussion is an opportunity for you to review the work of other learners to inform your own learning. Your interactions and anything you share should be courteous, succinct, professional, well-written, and organized. Communicating clearly with proper grammar and punctuation will foster more and better interactions with your classmates.
Your Post: Create a post responding to one of the discussion prompts. Do not create your post as a reply to another post.
Responding to Peers: As you respond to one of your classmates, please make sure your response is substantive by sharing your professional experiences and helpful thoughts and feedback about ideas they have shared. Try to comment on those where you feel you have the most useful information to share and consider the following:

How have your experiences resonated with their ideas?
What can you add to their ideas, building upon the connections you have made to the material so far? Supplement course resources and extend consideration of the topic by including new information or findings from current journal articles, discussing more in-depth critical thinking questions, or providing constructive or corrective feedback or an alternative viewpoint supported by empirical evidence.

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Complete your Research Project 1 in a Word document, APA formatted, and then submit it in the Assignment section of the classroom by midnight, EST, Day 7. The instructions concerning this assignment as well as the grading rubric are reproduced below.

Pricing strategy varies significantly across different market structures. The pricing guidelines in a monopoly market are relatively straightforward. Since the company is the only producer offering the product, it can mark-up the price as far as the customer can bear. The pricing strategies for a producer operating in a perfect competition structure are also fairly intuitive. They are price takers, and hence price is set at the marginal cost of the product. This is due to the fact that there are many firms offering nearly identical products. However, there is optimal pricing for the market structures offering differentiated products with many competitors (oligopoly) or a few producers (monopolistic competition). These are much more complex and involved. It has been stated that differentiation in products that creates differences in customer valuation is the most prevalent type of competition. In such markets pricing strategies may include the three C’s of cost, competition, and customer.

Develop a paper detailing an analysis of market structures and relating pricing strategies that are suitable for each of these structures. Furthermore, include a real world example of pricing strategy for a specific company by identifying its market structure.

Your paper should be around 10 double spaced pages, in APA Format and structured as follows:

Cover page with a running head Abstract 1. Perfect Competition 1.1. Description 1.2. Pricing Strategies 2. Monopolistic competition 2.1. Description 2.2. Pricing Strategies 3. Oligopoly 3.1. Description 3.2. Pricing Strategies 4. Monopoly 4.1. Description 4.2. Pricing Strategies 5. Case Study 6. Conclusion References

Your paper needs to include at least three scholarly sources, i.e. peer reviewed articles.

LO1: Identify the purpose of managerial economics

LO2: Identify and discuss the six-step model of decision making

LO3: Identify how the firm’s profit-maximizing level of output is determined including the optimal condition in terms of the basic components, marginal revenue and marginal cost

LO4: Define a multi-variable demand function and identify its purposes

LO5: Explain the relationship between price elasticity of demand and revenue

LO6: Discuss how a firm can maximize its profit by using optimal markup pricing and price discrimination

LO7: Explain how empirical analysis is both “art and science”

LO8: Explain the statistics that are generated by regression analysis

The Example of Perfect Competition

To provide an example, let me discuss more at length the special case of perfect competition, a structure where pricing strategies of firms are straightforward. I will not steal your thunder since you will be discussing pricing strategies in your midterm paper, but I would like to discuss the assumptions underlying perfect competition, since they are strict and quite restrictive. Let me summarize them here.

Simply put, perfect competition describes a situation where there is a large number of firms that produce and sell identical products. This is fairly rare in real life, as most products have a degree of differentiation. It is an important assumption, though, because it determines the behavior of buyers: since they see no difference between the products offered, they will only purchase from the seller with the lowest price.

Oligopolies and monopolistic competition

BARRIERS TO ENTRY

Not only do products have to be identical or homogenous, but firms need to be able to enter the market with little investment if they find it attractive. In the same way, firms that are currently in the market need to be able to leave the market if they find the market unattractive. In other words, perfect competition assumes that the market has no barriers to entry or exit. This condition is important for these markets to converge toward long-run equilibrium.

To provide a definition, a barrier to entry is any factor or characteristic of the industry that creates an advantage for firms present on a market over any other wishing to enter the market. There are many factors that can prevent or limit the entry of new firms. The main ones are:

· legal rights such as patents, state or federal license,

· economies of scale: existing large firms benefit from lower average costs that would not be attainable by a smaller firm entering the market,

· investment requirements. The initial investment to enter some industries is very high. Think about starting an aviation company, for instance. A large initial capital requirement makes an entry in the industry very risky, and thus protects existing firms.

It would take too long to list all the potential barriers to entry. Let me mention two more. First, consumers may be loyal to established products with strong brand recognition, making entries of new firms very challenging. Second, some technological products have a value that depends on the existing number of customers. This network effect provides a strong protection to a market where established companies have already captured a large customer base.

References

Samuelson W.F. & Marks S.G. (2015). Managerial Economics. Hoboken, NJ: Wiley & Sons Inc.

Smith, Vernon L. (1994). Economics in the Laboratory, Journal of Economic Perspectives 8 (1), p 113-131.

Pricing strategy varies significantly across different market structures of perfect competition, monopolistic competition, oligopoly and monopoly which are complex. As discussed in detail in your textbook, the assessment of market structure is conducted on the basis of

· intensity of competition, depending on the number of firms in the industry,

· homogeneity of products, evaluated by the extent of substitutability of a firm product by the products of its rivals,

· barriers to entry, estimated by the complexities and obstacles confronting potential firms from entering the industry,

· information asymmetry, assessed by the degree of availability of knowledge of price to buyers.

Perfect information

The last characteristic of perfect competition I want to discuss is the condition that buyers and sellers are assumed to have perfect information on the market.

This means, for instance, that all buyers and sellers are supposed to know the prices offered by all sellers, and that sellers have immediate access to any resource used by another seller. This is clearly a tall order, even though the development of online shopping is a step in that direction. By the way, you will find a discussion of the pros and cons of using the internet as an example of perfect competition in your textbook (Samuelson & Marks, 2015, p. 232).

Why Study Perfect Competition?

As we briefly discussed, many of the assumptions underlying perfect competition are so restrictive that it is pretty much impossible to have truly perfectly competitive markets in real life. The question naturally arises: why bother? What can be gained from a study of perfectly competitive markets, if these markets do not exist practically? It is argued in most textbooks that perfect competition is the ideal situation that allows comparison of other structures to a standard, but I believe there is more to the story.

In fact, some recent experiments have shown that the study of perfect competition can provide results that are applicable to many real-life situations.

A new discipline has emerged about 50 years ago, often called for lack of a better term ‘experimental economics’. It is based on the idea to replicate what scientists do in fields like physics and chemistry, where it is possible to design experiments performed in labs to test hypotheses, and validate (or invalidate) them.

Economists have used the same principle and conducted a number of experiments to test the validity of key elements of economic theory.

One of the main contributors to this experimental approach to economics has been Vernon Smith, who won the 2002 Nobel Prize in Economics for this work in experimental economics.

In one of his early experiments, published in the Journal of Economic Perspective (Smith, 1994), Smith brought individuals into a confined setting and randomly separated them into two groups: buyers and sellers of a commodity we can call C for convenience. In real life, each potential buyer had in mind a maximum price he or she would be willing to pay for a unit of C. To replicate this situation, each buyer was confidentially given his or her maximum price. If the buyers had been able to communicate and plot their numbers on a graph, they would have seen the demand curve for this commodity. To provide an incentive that would replicate a real life situation, each buyer was told he would receive a cash payment equal to the difference between the price at which he/she was able to purchase the commodity, and the maximum price he/she was willing to pay. Clearly, each buyer gained financially by purchasing at lower prices – just as you and I do in real life when we purchase any good.

The sellers had the opposite strategy. They were assigned a minimum value representing their cost, and if they were able to sell the commodity for more than this minimum, they would receive a cash payment for the difference.

Buyers and sellers were free to negotiate individually with each other until they agree on a price.

Clearly, since Vernon Smith knew the prices given to every participant, he was able to draw a demand and supply curve and to determine the equilibrium price for the commodity he created. He was also able to calculate the total cash amount that both buyers and sellers would receive as a group if all transactions occurred at the equilibrium price. This information was provided to all participants in a sealed envelope that would be opened at the end of the experiment.

Once the experiment was over, participants described it as chaotic – which is easy to believe since every buyer was trying to negotiate with as many sellers as possible – and vice-versa. We can imagine their surprise when they opened the sealed envelope they had received early on: they saw that their seemingly disorganized actions had achieved close to the maximum possible income for their group and that most transactions had occurred close to the equilibrium price.

These and similar experiments indicate that the outcome approximating those of perfect competition emerge even when the restrictive assumption of the model is not exactly met. This is the case, for instance, in situations where the number of sellers is relatively small, in the 10 to 15 range.

Conclusion

In this lesson, we discussed how markets are classified according to four main guiding principles: number and size of the firm, the degree of product differentiation, the amount and cost of information about product price and quality, and the ease of entry in the market. Next, we covered information on the perfect competition by providing an example.

Various types of limitations were discussed as barriers to entry for firms. Lastly, perfect information and its importance were introduced to the course. It is important to remember that, although practically non-existent, perfect competition is an ideal situation which can be used as a standard by firms.

I hope you enjoyed this introduction to market structures. As you work on your first research paper this week, make sure to refer to the description of the project as well as to the grading rubric. I look forward to reading your work!

References

Dou, W. W., Ji, Y., & Wu, W. (2022). Oligopoly Lucas Tree. Review of Financial Studies, 35(8), 3867–3921. https://doi.org/10.1093/rfs/hhab120

Hoof, S. (2021). Dynamic Monopolistic Competition: A Steady-State Analysis. Journal of Optimization Theory & Applications, 189(2), 560–577. https://doi.org/10.1007/s10957-021-01843-w

Hovenkamp, H. (2021). Antitrust and Platform Monopoly. Yale Law Journal, 130(8), 1952–2050.

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Imagine you, the student, are the professor for this course. Drawing from the information presented in Units I-VI, create an 8-slide PowerPoint presentation with speaker notes communicating the most important aspects of research methods. Be sure to cover the following points:

· Schematize philosophical assumptions, research worldviews, research methodologies, research traditions, and research designs.

· Diagram differences between a quantitative methodological research strategy and qualitative research strategy.

· Differentiate descriptive, explanatory, and exploratory research designs based on their unique characteristics.

· Compare and contrast descriptive statistics and inferential statistics. Explain the relationship of population, sampling frame, sampling design, and generalization.

· Illustrate the use of hypothesis testing in determining statistical significance.

Each slide must have speaker notes that further explains the information on the slide. Your presentation must be at least eight slides in length, not including cover slide and references, and you must use at least two academic resources, one of which must come from the CSU Online Library. Any resources used must be cited and referenced in APA format.

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Unit VIII Journal
Explain the advice you would give to an executive team on how they can advance employee motivation and improve employee engagement to prevent or minimize unionization. Be sure to consider leadership theories that could advance employee motivation and the role of culture in human resource management practices within a global organization. Reflect on the course and thoroughly explain your rationale.

Your journal should be at least 200 words in length. Outside sources are not a requirement.

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This assignment measures your mastery of ULOs 3.2 and 5.1.

For the Unit VI Assignment, you will complete the Unit VI Assignment template by answering the questions using the provided charts. Please note that there are two parts.

Once complete, upload the assignment template into Blackboard for grading. Outside sources are not a requirement for this assignment.

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