Monopoly Vs Good Management

Paper Summary:

The paper defines a monopoly and outlines its advantages and disadvantages. The paper explores why a monopoly is perceived as the enemy of good leadership and explains that it reduces a management's interest towards the product development, the satisfaction of customers' needs, the personnel and the resource allocation.

Outline:
Introduction
Monopoly as an Enemy to Good Management
Monopoly
Monopoly as Enemy

From the Paper:

"There are numerous definitions of monopoly throughout the economics theory, formulated in different ways but generally conducting the reader to the same conclusion: monopoly is power - the power of one company to produce as much as they like, generally the offer is lower than the demand, and then price these items to their personal benefit. "Monopoly power refers to the degree of practical control that firms have over their prices" (Karier, 1993).
"There are no competitors due to either man-made restrictions or due to barriers imposed by the economy and the consumers have no other choice but to purchase the items presented to them by the sole company activating on that particular industry segment. The man-made restrictions which foster a monopolistic economy are legal barriers and patents."

Sample of Sources Used:

• Falkner, R., 1997, Biography of Smith, Liberal Democrat History Group, http://www.liberalhistory.org.uk/item_single.php?item_id=37&item=biography Retrieved on February 13, 2008
• Henderson, D.R., 1999-2002, Biography of Adam Smith (1723-90), The Library of Economics and Liberty, http://www.econlib.org/library/Enc/bios/Smith.html Retrieved on February 13, 2008
• Karier, T.M., 1993, Beyond Competition: The Economics of Mergers and Monopoly Power, Sharpe M.e. Inc., ISBN: 9781563241277
• Moffatt, M., 2008, What You Need to Know About Monopolies and Monopoly Power, http://economics.about.com/cs/microeconomics/a/monopoly.htm About Economics, Retrieved on February 13, 2008
• 2005, Monopoly: A Brief Introduction, The Linux Information Project, http://www.linfo.org/monopoly.html Retrieved on February 13, 2008

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