ECO550 Asignment 1
Analysis of Regression Results: Low-Calorie Microwavable Food Company
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Analysis of Regression Results: Low-Calorie Microwavable Food Company
An organization engages with a primary aim of achieving better and improved results from operations on a daily basis in many activities. The market is one place in which the organization can realize either success or failure depending on how it carries its activities (Slack & Lewis, 2003). The previously discussed regression identifies that the low-calorie microwavable food firm operates in a monopolistic market structure. This implies a competitive market with a large number of firms, each controlling a small portion of the market share, also coupled with slightly differentiated products. Low-calorie microwavable food comes in differentiated forms, and this implies competition in the market environment. The organization then realizes ideal ways of carrying out operations to ensure efficiency and productivity in the long run. An efficient plan is necessary in determining the effectiveness of the market structure in which the organization operates. Such a plan will have a primary focus on the products in the market, number of firms participating, trends in pricing and vital methods of product promotion (Bragg, 2012).
Additionally, there are higher chances that the business operations will change from the market structure described previously to a different one, say monopoly. This implies that the organization/firm is the only producer in the market and meets all customers’ needs. Two vital factors that can lead to such a change include; withdrawal of a competitor and increase or decrease in price of products (Slack & Lewis, 2003). The above change will influence business operations in various ways. For instance, there will be increased output since the market share increases. The firm will then increase its cost of operations, with notable increases affecting elements such as
Name
Course
Tutor’s Name
Date
Analysis of Regression Results: Low-Calorie Microwavable Food Company
An organization engages with a primary aim of achieving better and improved results from operations on a daily basis in many activities. The market is one place in which the organization can realize either success or failure depending on how it carries its activities (Slack & Lewis, 2003). The previously discussed regression identifies that the low-calorie microwavable food firm operates in a monopolistic market structure. This implies a competitive market with a large number of firms, each controlling a small portion of the market share, also coupled with slightly differentiated products. Low-calorie microwavable food comes in differentiated forms, and this implies competition in the market environment. The organization then realizes ideal ways of carrying out operations to ensure efficiency and productivity in the long run. An efficient plan is necessary in determining the effectiveness of the market structure in which the organization operates. Such a plan will have a primary focus on the products in the market, number of firms participating, trends in pricing and vital methods of product promotion (Bragg, 2012).
Additionally, there are higher chances that the business operations will change from the market structure described previously to a different one, say monopoly. This implies that the organization/firm is the only producer in the market and meets all customers’ needs. Two vital factors that can lead to such a change include; withdrawal of a competitor and increase or decrease in price of products (Slack & Lewis, 2003). The above change will influence business operations in various ways. For instance, there will be increased output since the market share increases. The firm will then increase its cost of operations, with notable increases affecting elements such as
References: Bragg, M. S. (2012). Financial Analysis: A Controller 's Guide. (2nd Ed.). John Wiley & Sons. Kalb, I. (1992). Structuring Your Business for Success. New York, K&A Press. Slack, N. & Lewis, M. (2003). Operations Management: Critical Perspectives on Business and Management. Routledge. Stokes, D. (2008). Principles and Practice of Variable Pressure/Environmental Scanning Electron Microscopy. John Wiley and Sons. Wheeler, C. (2009). You 've Gotta Have Heart: Achieving Purpose Beyond Profit in the Social Sector. New York: AMACOM Div American Mgmt Assn.