MONOPOLIES AND CARTELS Research Paper Example | Topics and Well Written Essays - 500 words

MONOPOLIES AND CARTELS - Research Paper Example The effect of this to all industry players and stakeholders is that competition has arisen and become very keen. Today, it takes only a company with improved strategic plan and implantation policy to survive and succeed as a first force In the midst of competition, the only way to survive and be successful is to follow a set od economic principles that makes you stand out among your competitors. In this regard, it could be seen that the companies that have succeeded in the airline industry since the deregulation of the industry have devised the creation of competitive advantages over their competitors to succeed. Indeed through the creation of competitive advantage, successful companies have critically studies and researched into the weaknesses of their competitors and built on those weaknesses to create major strengths for themselves (quote). This way, they successful companies offer to customers and clients, services that the customers and clients look for in the conduct of their daily business that have been missing. Consequently, they become the preferred choice because they are what the customers desire to patronize. A typical example can be given using the customer satisfaction as a competitive advantage. Mos t successful companies have come to realize that running an airline is not just about offering cheap prices for services and products but making customers feel comfortable and satisfactorily treated. To this end, they embark on a strategic customer satisfaction principle to ensure that they become the preferred options for customers who want satisfied services. Clearly, companies that been struggling have refused to employ basic principles of research and development, commonly referred to as R&D. With a highly competitive industry that is virtually free of all forms of monopoly today, it would take only an intensive research and development policy by failing companies to