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Essay Available:
Pages:
8 pages/≈2200 words
Sources:
5 Sources
Style:
APA
Subject:
Mathematics & Economics
Type:
Research Paper
Language:
English (U.S.)
Document:
MS Word
Date:
Total cost:
$ 46.66
Topic:

Managerial Economics Decision Making

Research Paper Instructions:

Research a specific company of your choice and identify some of the managerial decisions that were made over time and in response to changes in its market or competitive environment. Use the Ashford University Library and web-based sources for your research. At least three external scholarly sources must be used in addition to the textbook. Address all of the following areas: Describe the company and provide a brief history of its operations. Find or use graphs to illustrate its financial performance over the years. Describe any sources of risk or uncertainty in its operations. Do the financial reports indicate risky or uncertain activities or changes to the economic environment that ultimately appear to have affected the company’s financial outcomes? Be specific. Are there any government regulations that have affected this company’s operations domestically or abroad? Explain. Describe the inputs that are used in this company’s production function and identify any challenges to securing these inputs. Determine if the company has introduced new products in existing markets or created new markets over time. What is the impact on its finances? Determine if the price of its products increased or declined over time and analyze the reasons for price fluctuations. Study the demand elasticity for its products and discuss the availability of close substitutes for its products. How does that affect pricing decisions? Analyze the company’s profitability. Identify the economy or industry influences on its costs, operations, and profitability. Describe the competitive environment in which the firm operates, the distribution of market power, and the strategic behavior of the firm and its competitors. Apply your knowledge of the theory of this company’s market structure. How does the company make pricing and production decisions? Is your observation supported by the theoretical models? Refer to the financial reports for illustration. Describe any non-price competitive strategies that the company might be engaging in. Provide specific examples. Evaluate if the company made any mistakes in its decisions over time, and recommend any changes or improvements for future operations. Refer to the financial reports when making specific observations or recommendations.. Use economic language and demonstrate your understanding of the concepts and theories of this course. Writing the Final Paper The Final Paper: Must be 8 to 10 double-spaced pages in length (excluding including the title and reference pages), and formatted according to APA style as outlined in the Ashford Writing Center. Must include a title page with the following: Title of paper Student’s name Course name and number Instructor’s name Date submitted Must begin with an introductory paragraph that has a succinct thesis statement which identifies the focus of the paper. Must address the topic of the paper with critical thought. Must end with a conclusion that reaffirms your thesis. Must use at least three scholarly sources, in addition to the text. Must document all sources in APA style, as outlined in the Ashford Writing Center. Must include a separate reference page, formatted according to APA style as outlined in the Ashford Writing Center.

Research Paper Sample Content Preview:

Managerial Economics Decision Making
Name
Institution
Wegmans Food Store
One of the most common managerial decisions in an effort to gain a competitive advantage is coming up with a strategic plan that will ensure most of the market factors are aggregated. This can be achieved through setting up a business that will seem small to its competitors but give it a unique position in the competitive market that is superior than its competitors. From the managerial strategic perspective, the key to success for any business is to come up with a unique competitive advantage, which will be difficult for the competitors to duplicate while at the same time creating value for its customers. A company that manages to gain a competitive advantage despite the market challenges emerges as the leader in its market and is likely to achieve profits that are above average. This is the path taken by Wegmans.
In an industry that has been known for thin profits margins, intense competition based on market prices and high employee turnover levels, Wegmans, a chain store of 67 supermarkets in New Jersey, New York, Virginia and Pennsylvania and just owned by family, makes it quite unique. Traditional grocers have been under attack in a number of cases. Mass merchandisers like Wal-Mart considering its super-store concept, are forced to take sales, customers and the share of the market from traditional grocers. Mass merchandisers have gained control of more than one-third of this grocery market and this market share is projected to increase to more than forty percent in future. Customers are now claiming that they are bored with the monotonous shopping experiences in most of these traditional grocers. One of the recent studies has it that 80 percent of the shoppers claim that traditional grocers seem to be all alike. This situation has led to most of the chains to struggle to survive in the market while a good number have been bought by their competitors or declared bankrupt. Regardless of this alarming market situation, Wegmans, a relatively small grocery stores chain founded by brothers Walter and John in 1930, has managed not just to survive but to be at the top of the industry.
This position can be attributed to the number of cereal aisle brands in the stores as well as its clever retail strategy not forgetting the manner in which Wegmans treats its employees. This strategy can be traced back to the earliest stages in the existence of the company when the two brothers came up with a 300-seat café as their first store around Rochester, New York. The concept was unheard of in the 1930’s. When the son of the founders, Robert Wegman, took over the management of the business in 1950, he instituted a host of benefits that were friendly to the employees including full medical coverage and profit sharing. Such benefits were not popular during that time and he defended his move claiming that he is no different from his employees.
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