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Select a firm e.g., Coca Cola, Apple, Netflix, etc. that you would like to base your class research activities on. I recommend that you select a firm/ company with a narrow product range and limit your analysis to one area of the firm. This will enable you to conduct comprehensive analysis. The firm should be a U.S.-owned, publicly traded company. Select a company with easily accessible sources of financial data. This will enhance your ability to access data that you may need for analysis and completion of the papers in this class.
The paper should specifically address the following:
1. Introduction: Provide an in-depth discussion of overview of your firm, research goals, scope, and methods.
2. Demand: Discuss the demand trends over the last five years for the product that you have chosen. Identify and discuss at least two factors that influenced that demand (could use sales data to represent demand). Hint – demand shifters.
3. Supply: Discuss the supply (production data can be used to represent supply) trends over the last five years for the product that you have chosen. Identify and discuss at least two factors that influenced that supply. Hint – supply shifters such as government policy (taxation, quotas, regulation; weather etc.).
4. Price Elasticity: Discuss elasticity of the firm’s chosen product(s). Identify the key determinants of price elasticity of demand for the selected company and illustrate using examples from the firm. Describe the implication of the price elasticity for revenue.
5.Production Decisions: Using examples from the firm, discuss the relationship between economies of scale and cost efficiency, the role of location and technological advancement in production cost analysis. Finally, explain how a company makes the decision to produce, shut down in the short term, or exit the market based on cost considerations. Apply measures of productivity and share necessary data and graphs from your firm and/ or literature to support your discussion. Provide examples from research to illustrate.
6. Profit Maximization and Growth Strategies: Explain how any three of the following can inform profit maximization and growth for your firm: innovation; mergers and acquisitions; market penetration strategies; globalization; product and service diversification; organizational culture; corporate social responsibility; customer retention strategies; and/ or strategic alliances and partnerships.
7. Market Structures: Overview: Summarize the four market structures paying attention to the differences between the four market structures and how they impact profitability. Your discussion should answer the following questions in summary form: How is the price determined in each market type? Are the firms price takers or price makers? Which markets have barriers to entry and exit? How are the market types profitable in the short and long run? How is the profit-maximizing quantity determined in each market type?
8. Market Structures: Firm – Identify the type of market structure in which your company competes. Defend your claim by demonstrating the features of that market structure.
9. Market Structures: Concentration – Analyze the effects of market concentration on competition and consumer welfare, and specifically for your firm’s industry. Include a pie chart or bar graph illustrating concentration in your firm’s industry. The effects of mergers and acquisitions on market competition. Discuss the role of government regulation in promoting competitive markets.
10. Microeconomic Principles and Business Decisions: Describe the relevance and significance of microeconomics principles. Explain how microeconomic trends could impact the company’s future business decisions. Defend your claims with specific evidence.
11. Conclusion: You are the manager. Share your overall understanding of the Strengths, Weaknesses, Opportunities and Threats (SWOT) for your chosen firm. Make recommendations based on the findings of your research and general microeconomic theory.
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