Differentiating Between Market Structures
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Differentiating Between Market Structures
ECO/365 - Principles of Microeconomics
9/13/15
Introduction
The purpose of this paper is to select an industry and an organization within the industry. This paper will identify the market structure in which this organization competes and indicates why the market structure utilized by Walmart. It shows a comparison of competition the organization faces under market structures of Oligopoly, Perfect Competition, Monopoly, and Monopolistic competition. It looks at strategies with external considerations as well as ethical, and value implications for maximum profit opportunities.
Walmart
Few business ventures known have been as successful as Walmart. Sam Walton began in 1950 with a store called Walton’s 5&10 store. After a successful start, he began the Walmart store business we all know in 1962. The timeline below shows the success of the company:
“1962 - On July 2, 1962, Sam Walton opened the first Walmart store in Rogers, Ark.
1969 -The Company officially incorporated as Walmart Stores, Inc.
The 1970s - Walmart became a publicly traded company. The first stock was sold at $16.50.
1972 - Walmart was listed on the New York Stock Exchange (WMT).
1980 - Walmart reached $1 billion in annual sales, faster than any other company.
The 1990s - Walmart was the nation's number-one retailer.
1991 - Walmart went global, opening a Sam’s Club in Mexico City.
1996 - Walmart opened its first stores in China.
2002 - Walmart topped the Fortune 500 ranking of America's largest companies.
2014 - Walmart employs 2.2 million associates and serves more than 200 million customers each week at more than 11,000 stores in 27 countries” ("Walmart", n.d.).
The success of the company was/is nothing short of phenomenal. Today the Walmart company continues to dominate the market with supercenters and Sam’s Clubs. According to "Walmart" (n.d.), “Walmart operates over 11,500 retail units under 65 banners in...
ECO/365 - Principles of Microeconomics
9/13/15
Introduction
The purpose of this paper is to select an industry and an organization within the industry. This paper will identify the market structure in which this organization competes and indicates why the market structure utilized by Walmart. It shows a comparison of competition the organization faces under market structures of Oligopoly, Perfect Competition, Monopoly, and Monopolistic competition. It looks at strategies with external considerations as well as ethical, and value implications for maximum profit opportunities.
Walmart
Few business ventures known have been as successful as Walmart. Sam Walton began in 1950 with a store called Walton’s 5&10 store. After a successful start, he began the Walmart store business we all know in 1962. The timeline below shows the success of the company:
“1962 - On July 2, 1962, Sam Walton opened the first Walmart store in Rogers, Ark.
1969 -The Company officially incorporated as Walmart Stores, Inc.
The 1970s - Walmart became a publicly traded company. The first stock was sold at $16.50.
1972 - Walmart was listed on the New York Stock Exchange (WMT).
1980 - Walmart reached $1 billion in annual sales, faster than any other company.
The 1990s - Walmart was the nation's number-one retailer.
1991 - Walmart went global, opening a Sam’s Club in Mexico City.
1996 - Walmart opened its first stores in China.
2002 - Walmart topped the Fortune 500 ranking of America's largest companies.
2014 - Walmart employs 2.2 million associates and serves more than 200 million customers each week at more than 11,000 stores in 27 countries” ("Walmart", n.d.).
The success of the company was/is nothing short of phenomenal. Today the Walmart company continues to dominate the market with supercenters and Sam’s Clubs. According to "Walmart" (n.d.), “Walmart operates over 11,500 retail units under 65 banners in...