Corn farmers Essay Example | Topics and Well Written Essays - 500 words

Corn farmers - Essay Example As per the law of demand and supply of economics, lesser demand of corn will push the price of corn down ward to an extent so that equilibrium in demand and supply reaches. Individual corn farmers will thus face the state of lesser demands then previously what they had catered to. The market of corn can be assumed as perfectly competitive for the following reasons. 1. There are large producers and suppliers of corn in the market. It means that each producer is too small compared to the entire market to influence price by its own supply. 2. Corn Market has bountiful suppliers with standardized products. Buyers perceive them all identical. 3. Buyers have perfect information available about the prices of corn producers. 4. There are no entry or exit barriers for the firms in the long run; market is always open for competition for new suppliers. 5. The market is said to have reached in long run equilibrium by 2014 and in a perfectly competitive state as the marginal firm makes a normal p rofit in the long run. Since market of corn is nearly perfectly competitive, any reduction in demand or increase in its supply will push the price down ward so as to find a new equilibrium of demand and supply during 2016 and beyond. (Kindly refer Appendix I) Above happening is bounded by certain assumptions, which are enumerated as per the following. a.

Strategic Management Essay Example | Topics and Well Written Essays - 2000 words - 1

Strategic Management - Essay Example Apart from being the most successful retail stores globally, it has been a model among many top-level companies. Walmart has consolidated a significant part of the market share, and has a wide business that offers a significant extent of business to suppliers and manufacturers giving the company an edge over suppliers (Vance & Roy 1994). The retail store has overcome turbulent periods beating the competitive chain-store market since its inception by sticking to its mission, vision, objectives and goals (See Appendix: Figure 6). Nevertheless, its competitiveness is has been threatened by the emerging e-commerce resellers such as Amazon (Wohlsen 2013) On the other hand, Age UK operates in a conspicuously competitive market namely financial, retail markets and conventional fundraising. The current uncertain economic climate in the UK has affected the company’s financial position due to decreased funding from the government (See Appendix: Figure 6). This has prompted it to focus m ore on the high donations that is attributable to the increasingly high pressure on the aging population and the local partners (Bowman & Faulkner 1997). The paper concludes that even as Wal-Mart and Age UK are both enterprises with almost similar strategies, they are confronted by different challenges that have prompted them to diversify their strategies to maintain their market share, extend geographical frontier through acquisitions and organic growths (Age UK 2011). Faced by the imminent threat from online retail stores, Wal-Mart, which is unceasingly in pursuit of horizontal, vertical and geographical expansion by pushing for technology applications as an integral part of its strategy. The company has trampled on its competitors through its supremacy in inventory management and supply-chain logistics. Age UK on the other hand hopes to expand geographically through venturing further to cover disasters. Additionally, even as Age UK has launched a new radio station and increased f inancial services offerings to its customers, Wal-Mart anticipates its online strategy to contribute further to the bottom line (Wohlsen 2013). This paper recommends that if Wal-Mart has to keep up with the viciously competitive reselling industry, it must pay its workers well to avert the prevalent strikes to restore its public image, it should also leverage on its financial background to increase global presence. It should also branch out to new sectors including pharmacies, warehousing, automotive repair and grocery sale. Additionally, it should take an innovative approach in reselling and venture further into online retailing. Conversely, Age UK should invest in expanding its direct and financial services to support retain fundraising. It should also improve its information dissemination from its partners into their CRM system (Age UK 2011). Walmart’s Strategic Positioning Strategic positioning includes showing an organisation’s current positions in the marketplace . This helps understand the approaches both organisations have adopted (Hitt et al 2007). Walmart is the world’s largest retailer, one of the biggest corporations as well as the largest employer. The company has unique business models that are accustomed to the