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Books > Business & Economics > Business & management > Business competition
This work considers the potential effects of competition in the natural gas pipeline industry. Contrary to published studies and government reports, this study concludes that federal regulation in the industry is no longer necessary to limit the market power of current pipeline suppliers. Rather, potential entry by nearby suppliers--a competitive factor largely ignored in most economic analyses--will promote competition in most major markets. The purpose of the work is two-fold: to quantify the competitive effect of potential market entry by natural gas suppliers; and to demonstrate that any industry analysis which fails to consider this competitive factor is likely to be in error. This compilation and analysis of market-by-market data on current deliveries by pipeline, location of nearby deliveries, and location of nearby pipelines which make no deliveries will be of interest to scholars, policymakers, and industry analysts concerned with competitive, antitrust, and regulatory issues.
Stressing verbal logic rather than mathematics, Israel M. Kirzner
provides at once a thorough critique of contemporary price theory,
an essay on the theory of entrepreneurship, and an essay on the
theory of competition. Competition and Entrepreneurship offers a
new appraisal of quality competition, of selling effort, and of the
fundamental weaknesses of contemporary welfare economics.
The most controversial area in competition policy is that of exclusionary practices, where actions are taken by dominant firms to deter competitors from challenging their market positions. Economists have been struggling to explain such conduct and to guide policy-makers in designing sensible enforcement rules. In this book, authors Chiara Fumagalli, Massimo Motta, and Claudio Calcagno explore predatory pricing, rebates, exclusive dealing, tying, and vertical foreclosure, through a blend of theory and practice. They develop a general framework which builds on and extends existing economic theories, drawing upon case law, discussions of cases and other practical considerations to identify workable criteria that can guide competition authorities to assess exclusionary practices. Along with analyses of policy implications and insights applied to case studies, the book provides practitioners with non-technical discussions of the issues at hand, while guiding economics students with dedicated technical sections with rigorous formal models.
"This is a thought-provoking book that will stimulate a
constructive reevaluation of widespread management practices-and
they badly need such reevaluation. If it does nothing else-and it
does much more-it would deserve a serious reading."151;Russell L.
Ackoff, Chairman, INTERACT, The Institute for Interactive
Management
The disparity between rich and poor countries is the most serious,
intractable problem facing the world today. The chronic poverty of
many nations affects more than the citizens and economies of those
nations; it threatens global stability as the pressures of
immigration become unsustainable and rogue nations seek power and
influence through extreme political and terrorist acts. To address
this tenacious poverty, a vast array of international institutions
has pumped billions of dollars into these nations in recent
decades, yet despite this infusion of capital and attention,
roughly five billion of the world's six billion people continue to
live in poor countries. What isn't working? And how can we fix it?
The electricity market has experienced enormous setbacks in
delivering on the promise of deregulation. In theory, deregulating
the electricity market would increase the efficiency of the
industry by producing electricity at lower costs and passing those
cost savings on to customers. However, deregulation poses
substantial risks if the market is not designed properly, as the
recent California crisis demonstrated. As "Electricity Deregulation
"shows, successful deregulation is possible, although it is by no
means a hands-off process--in fact, it requires a substantial
amount of design and regulatory oversight.
There's a scene in Lewis Carroll's Through the Looking Glass in which the Red Queen, having just led a chase with Alice in which neither seems to have moved from the spot where they began, explains to the perplexed girl: "It takes all the running you can do, to keep in the same place." Evolutionary biologists have used this scene to illustrate the evolutionary arms race among competing species. William Barnett argues that a similar dynamic is at work when organizations compete, shaping how firms and industries evolve over time. Barnett examines the effects--and unforeseen perils--of competing and winning. He takes a fascinating, in-depth look at two of the most competitive industries--computer manufacturing and commercial banking--and derives some startling conclusions. Organizations that survive competition become stronger competitors--but only in the market contexts in which they succeed. Barnett shows how managers may think their experience will help them thrive in new markets and conditions, when in fact the opposite is likely to be the case. He finds that an organization's competitiveness at any given moment hinges on the organization's historical experience. Through Red Queen competition, weaker competitors fail, or they learn and adapt. This in turn heightens the intensity of competition and further strengthens survivors in an ever-evolving dynamic. Written by a leading organizational theorist, The Red Queen among Organizations challenges the prevailing wisdom about competition, revealing it to be a force that can make--and break--even the most successful organization.
Much strategic guidance that is currently available on product and
service development is still focused in the relatively short term.
Companies must plan and be flexible if they are to survive and
flourish in the future, but too many surrender to the necessity for
a short-term healthy bottom-line in order to satisfy their
shareholders. In order to satisfy and retain customer-base,
organizations should not only ensure that their products and
services available now are the best around, but that they will also
be the best in the future. This is particularly important as
product life cycles contract and organisations need to introduce
replacement products and services at a faster and faster rate. The
globalizing economy and advances in modern technology are also
important factors. This book points that way to becoming more
competitive and remaining competitive, ensuring a healthy and
secure future. It will also help companies identify product and
service failures, and eliminate them from the company's
horizons.
Globalisation is characterised by institutional and political reforms in many countries such as gradual trade liberalisation and international co-ordination of policies. Moreover, globalisation has created centres of power that are alongside, even in competition, with the power of states. Innovation demands extensive up-front R&D costs and strong intellectual property protection is not disconnected from competition principles, but rather, is a vital part of antitrust policy as a whole. Sound intellectual property protection creates the competitive environment required to allow companies to profit from their inventions, which encourages innovation effort. This book covers a gap in literature dealing with both economic and legal aspects of the competition and especially when there is a comparison of US and EU law concerning it. This contains the latest law and case analysis of competition in the US and EU law.
Where economic activity will locate in the future is one of the most important questions in economics. Even though advances in technology have reduced the cost of transport, communication and information gathering and processing, hence curtailing the 'distance penalty', local proximity (clusters) of firms that produce similar, competing and/or related products together with supporting institutions still matter. Economies of scale, activity-specific backward and forward linkages (indivisible production), accumulated knowledge and skills, innovation, existence of sophisticated customers and a fall in transportation costs play relevant roles in the 'protection' of clusters and absolute locational advantages of certain locations. 'Global' competitiveness often depends on highly concentrated 'local' knowledge, capabilities and common tacit codes of behaviour, which can be found in a geographical concentration (cluster) of firms.
Leveque recounts twenty revealing tales of real-life rivalry between firms across diverse industries, including wine, skiing, opera, video games and cruise liners. These entertaining and insightful narratives are informed by recent advances in economics, factoring in the many forces driving competition, including globalization and innovation. Divided into four sections, the book covers competition and the market; competition and variety; competition through innovation; and competition and equality. Read together, these stories also serve as building blocks to address the issue of whether competition between firms has entered a new era of increased intensity. This book will appeal to anyone, from company executives to consumers, who are interested in the economics of contemporary industry and want to incorporate a grasp of competition into their everyday decision-making. This book can also be used as a supplementary text in courses in microeconomics, business economics and industrial organisation.
As border barriers have declined, private barriers to competition have grown more significant. More and more international trade disputes involve private business practices that allegedly block the market access of rival firms. Such disputes include high profile conflicts between Japan and the United States over semiconductors, auto parts, and photographic film, between the European Union and the United States over aerospace and defense mergers, and between Asian nations and others over access to telecommunications networks. More such disputes are inevitable, especially in sectors that have been traditionally state-controlled but that are now subject to privatization. The regulation of private business practices that restrict competition is called competition (or antitrust) policy. In this book, the authors survey national competition policies and the issues they raise for international trade and investment. The book includes detailed recommendations for international agreement on minimum standards in those competition-policy measures that affect the ability of foreign firms to contest markets. These standards could be negotiated and implemented bilaterally, regionally, and globally at the World Trade Organization. At the international level, governments might agree on certain initial steps to accomplish greater contestability: "national treatment" for foreign-controlled firms, abolition of most international cartels (including those that are now sanctioned), and establishment of mandatory consultation procedures when one government believes that private business practices in another nation foreclose exports or direct investment. There should also be premerger notification requirements for transborder or other mergers having cross-border effects. Further steps might be implemented at a future time.
Sustainable economic development has played a major role in the decline of global poverty in the last two decades. There is no doubt that competitive markets are key drivers of economic growth and productivity. They are also valuable channels for consumer welfare. Competition policy is a powerful tool for complementing efforts to alleviate poverty and bring about shared prosperity. An effective competition policy involves measures that enable contestability and firm entry and rivalry while ensuring the enforcement of antitrust laws and state aid control. Governments from emerging and developing economies are increasingly requesting pragmatic solutions for effective competition policy implementation and recommendations for pro-competitive sectoral policies. This book puts forward a research agenda that advocates the importance of market competition, effective market regulation, and competition policies for achieving inclusive growth and shared prosperity in emerging and developing economies. It is the result of a global partnership and shared commitment between the World Bank Group and the Organisation for Economic Co-operation and Development (OECD). The first half of the book brings together existing empirical evidence on the benefits of competition for household welfare. It covers the elimination of anticompetitive practices and regulations that restrict competition in key markets and highlights the effects of competition on small producers and on employment. In its second half, the book focuses on the distributional effects of competition policies and how enforcement can be better aligned with shared prosperity goals.
Strategic Alliances for SME Development is a volume in the book series Research in Strategic Alliances that focuses on providing a robust and comprehensive forum for new scholarship in the field of strategic alliances. In particular, the books in the series cover new views of interdisciplinary theoretical frameworks and models, significant practical problems of alliance organization and management, and emerging areas of inquiry. The series also includes comprehensive empirical studies of selected segments of business, economic, industrial, government, and non-profit activities with wide prevalence of strategic alliances. Through the ongoing release of focused topical titles, this book series seeks to disseminate theoretical insights and practical management information that should enable interested professionals to gain a rigorous and comprehensive understanding of the field of strategic alliances. Strategic Alliances for SME Development contains contributions by leading scholars in the field of strategic alliance research. The 12 chapters in this volume deal with the increasingly significant role of strategic alliances in the development of SMEs, covering such diverse topics as management capability and internationalization of alliance portfolios, building alliances, development drivers, founder ties, competitive edge, strategic alignment, technology and innovative firms, and temporary project alliances. The chapters contain empirical as well as conceptual treatments of the selected topics, and collectively present a wide-ranging review of the noteworthy research perspectives on the role of strategic alliances for the development of small and medium-sized enterprises.
The global value chain approach to development looks at trends and lead firms in global industries juxtaposed to firm and industry performance in local economies to identify strategies for value creation and upgrading that increase prosperity and economic growth. The movement to higher-value-added activities and services improves competiveness with other socio-economic multiplier effects such as employment creation, foreign direct investment, rural development, human skills development, and economic growth and resilience. These studies are meant to provide an understanding of Caribbean firms and industries as they operate within the global value chain. They explore the strategies adopted by selected firms and industries to attain competitiveness in the context of global markets, discuss the strategies of leading global firms and analyse the local policy and institutional environment for business and how value is created to identify areas where upgrading at the local firm and industry level can take place to increase local value capture either by firm, industry or country.
The gripping and definitive in-the-room account of the revolution that has swept the news industry over the last decade and reshaped our world. The last decade has seen the News industry face unprecedented change. The sometimes-century old institutions which were once the bastions of truth have had their dominance eroded by vast innovations in viral technology and, as millennial appetites force the industry to choose between principles of objectivity and impartiality, the survivors must confront the horrifying cost of their success: sexual scandal, fake news, the election of President Trump and the shaking of democracy. Taking us behind the scenes at four media titans - BuzzFeed, VICE, The New York Times and The Washington Post - Abramson reveals the human drama behind this shift: one involving deal-making tycoons, thrusting reporters, hard-bitten editors, egomaniacs, bullshitters, provocateurs and bullies, with some surfing and others drowning in the breaking wave of change. 'A cracking, essential read… Abramson knows where most of the bodies are buried and is prepared to draw the reader a detailed map' Guardian
The Open Incubator Model analyzes the different support policies needed in big cities, rural areas and country borders for entrepreneurs in developed and developing countries to generate cooperation and improve the business models of local SMEs.
Competition policy is an integral and prominent part of economic policy-making in the European Union. The EU Treaty prescribes its member states to conduct economic policy 'in accordance with the principle of an open market economy with free competition'. More precisely, the goal of EU competition policy is "to defend and develop effective competition in the common market" (European Commission, 2000: 7). Under its Commissioners van Miert, Monti and, most - cently, Kroes the EU Commission has stepped up its effort to pursue and achieve the aforementioned goal. A number of so-called hard-core cartels, such as the - torious "vitamin cartel" led by Roche, have been detected, tried in violation of Art. 81 of the Maastricht Accord and punished with severe fines. Also Microsoft was hit hard by the strong hand of the Commission having been severely fined for - ploiting a dominant market position. Economic analysis has been playing an increasingly significant role in the Commission's examination of competition law cases. This holds true in particular for merger control. Here, however, the Commission has had to accept some poi- ant defeats in court, such as the Court's reversals of Airtours-First Choice or GE- Honeywell. Among other things, the European Court of Justice found the e- nomic analysis as conducted by the EU's Directorate General for Competition to be flawed and the conclusions drawn not to be convincing. These rejections by the courts have stirred up the scholarly debate on the conceptual foundations of Eu- pean competition policy.
The United States appears among the top entrepreneurial economies and ranks third on the GEDI. It performs very well on the aspirations sub-index but lags somewhat on the attitudes and activity sub-indexes. This book examines the performance of the United States on the Global Entrepreneurship and Development Index (GEDI), which captures the contextual features of entrepreneurship.
Possibly no group is more conscious of the challenges created by the increasing integration of markets for capital, labor, products and information than small, developing economies. Policy makers from these economies have sought a two-track response to this integration. One response lies in increasing lobbying efforts for these economies to be accorded special or more equitable treatment in market integration discussions. The second response lies in improving the competitiveness of their economies. It is this second response that provides the subject matter for this book. It explores the challenges and opportunities associated increasing competitiveness in small, developing economies based on research conducted in the Caribbean. The topics covered indicate the breadth of activity that is required to enhance competitiveness. At the macro-policy level, the book explores the key drivers of competitiveness, examines the role of exchange-rate regimes and of government policy, considers the implications sovereignty, and assesses the extent to which competitiveness is likely to be improved by attracting foreign direct investment. At the level of private-sector enterprise the book reports on Caribbean-based research on the role of workplace change and enterprise management in enhancing firm competitiveness. Finally, the book covers competitiveness enhancement in rarely traded non-private and micro-enterprise sectors of small economies.
Revised and updated for the new economy, this text describes how the radical redesign of a company's processes, organization and culture can achieve a quantum leap in performance. In the 1990s, reengineering was implemented in the back office, the factory and the warehouse. For the new century it is being applied to the front office and the revenue producing side of the business.;"Business Week" dubbed the implementation of e-commerce, "e-engineering". The Internet demands new ways of working, and reengineering is the tool that can create them. The new wave of reengineering is breaking down the walls that separate corporations from each other. Processes do not stop at corporate doorsteps. Product development, planning and many other processes are really inter-enterprise in nature; entailing work by both customer and supplier. The Internet facilitates the reengineering of these inter-corporate processes by allowing information to be shared across corporate boundaries.
This selection of papers from "Long Range Planning - The International Journal of Strategic Management" examines the evolution of competitive advantage over the past decade, setting out areas of major change and areas which have been less subject to change. It begins by examining how strategic management has been influenced by the transformation of industries and the changes in the rules for success, and the dramatic rise in the strategic importance of information technology. In many industries, the established rules of the game no longer apply, and their continued use will most likely lead to failure, even for firms which appear to have unassailable positions of strength. It is not that strategic planning has failed, but rather that in a previous era of greater certainty and clearer boundaries, the unquestioning application of established strategic rules often worked. In the new era of competitive uncertainty and uncertain boundaries, many of the rules of strategy still apply, but they can only have utility when applied in an appropriate context. The book concludes that when clarity exists about business definition, industry definition and competitor definition and how strategic techniques or measures should be applied, then the strategic fundamentals which have obtained for many years are likely to continue to do so. |
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