Article sypnosis Essay Example | Topics and Well Written Essays - 250 words

Article sypnosis - Essay Example From the thing, it is obvious that the organization gives quality improvement. This is on the grounds that the Baldor Electric Company considers item quality a similar path as it thinks about amount of item. The new quality arrangement by the organization incorporate the improvement of estimation and check exactness, decrease of the process durations of creation, cost bringing down of scrap and creation of fast and precise examinations (Manufacturing Business Technology). The article further expresses that the methods utilized by Baldor Electric Company to give quality improvement is the utilization of InfinityQS Real-Time SPC Software in information examination and creation of choices. For example, the organization executed this strategy in the internal ring and external ring pounding, inward ring machining, face crushing cells and the ring roller. This are finished with plans to expand the reason to warm rewarding enlistment, heat rewarding that is convectional and lodging machine including cast iron. Additionally, the Baldor Electric Company has framed an endeavor wide for the goal of managing the undertaking of information investigation. Another quality improvement made by the organization is the assessed checking with the incorporation of creation of updates all through the creation offices on the shop floor (Manufacturing Business Technology). Taking everything into account, unmistakably the article attempts to give full data about the Baldor Electric Company. For example, it shows the offices it produces. The article additionally demonstrates the methods utilized in the arrangement of a quality improvement and furthermore instances of the quality enhancements. Utilizing Statistical Process Control To Improve Quality | Articles | Manufacturing Business Technology. Manufacturing Business Technology |. N.p., n.d. Web. 17 Apr. 2012.

Mergers and Acquisitions in SME Lending

Mergers and Acquisitions in SME Lending Section 1 Presentation During the time spent industrialization independent venture plays a significant and financial development. It increments per capital pay and yield, makes accessible occupations for the work showcase and for the most part advances fruitful sending of assets which are viewed as essential to controlling of financial turn of events and development. It is assumed that the lower pay fragments of Nigeria advantage when SMEs have better access to accounts since they reduce destitution by making more occupations and better wages. ( Emeni and Okafor 2008). In a large number of the created economies and creating economies both have come to esteem, acknowledge and acknowledge private ventures. Being that independent venture are spearheading, efficient, ingenious and permits quick choices procedure to be taken as a result of their relative little size. They are significant players during the time spent industrialization and financial turn of events. ( Ememi and Okafor, 2008) In most best in class country of the world, little and medium ventures (SMEs) have become the vanguard of monetary extension. They make work open doors as the most noteworthy boss of work power; also they increment the countries per capital salary and yield constantly expanding the GDP by successful asset use. Additionally in enormous created countries, SMEs assumes a vital job in impacting the economy. Taking China for instance, SMEs are supposed to be responsible for 60% of the modern yield utilizing seventy-five percent of the workforce in the metropolitan communities. ( Anas A.Galadima, 2006). Everywhere throughout the world and in all nation, government have come to understand the critical of this class of organizations. Furthermore, as such have started comprehensive arrangements to energize, give certainty, bolster and advance the foundation of SMEs. Enhancements in little and medium endeavor are an or more for business age, strong innovative base and consolation for the utilization of nearby crude materials and innovation. (Oladele, 2009). There are a great deal of difficulties that SMEs face in both the created and creating nations and they are enormous. One primary perspective is financing, the capacity to get and gain advances. Most independent ventures are not alluring possibilities for banks. Berger et al. ( 1998) recommend that bigger banks might be less inclined than littler manages an account with less mind boggling structure, to gracefully credit to private ventures. Back home in Nigeria the discussion is fundamentally the same as with the on-going of other nation. Be that as it may, recently the Bankers Committee interceded in 2001 with a plan called the Small and Medium Industries Equity Investment Scheme (SMIEIS). The thought carried life and strengthening to SMEs disposing of all other credit plans which were not appropriately actualized. (Aina, O. 2007). Nigerian financial change is a result of worldwide exertion and combination is one of its significant accomplishment that everybody have invited joyfully. This union wave has extraordinarily upgrade the normal size and size of banking organization for the most part. The mean size of the absolute resources of banks has expanded by 439% from 2003 †2009, recording =N=2767.78 billion to =N=14,923.00 billion banks all out resources figure (CBN report 2009). Before the presentation of banking change, the financial division was unpleasantly modest, little, powerless and slight, prompting various and a few monetary misfortune. Other than the advantages identified with solidification on the gracefully of credit to little and medium ventures, merger and procurement have likewise increment the size of banks from little less intricate foundation to combination global organizations in Nigeria. These incorporates preparation of residential reserve funds, improved allotment of assets, disposal of profound established wastefulness , assembly of remote investment funds or more completely upgraded availability of little scope subsidizing. In any case, in all these what is less fathomable, is the impact that bank MA has on the flexibly of credit to independent companies in Nigeria.(Emeni and Okafor, 2008). Related Literature Other related investigations have set up some well prestigious realities on the impact of solidification on independent company loaning. In an ongoing article Berger, Allen N., R. Demsetz and P. Strahan. (1999) propose that combination is just significant and good for a specific degree. The results of combination could have direct and furthermore circuitous impacts. The immediate impact being an increments in bank size, increment in piece of the pie and improve bank execution, the circuitous impact can be a decrease in the accessibility of budgetary administrations to independent companies. (Berger, Allen N. R. Demsetz and P. Strahan. 1999). Different investigations Vera and Onji (2010) outline that in light of the fact that most independent companies rely significantly upon less intricate little financial organization for their chief wellspring of subsidizing, solidification of the financial business may diminish simple entry of advances to private venture in the US. Prior specialists locate that independent companies have not been ominously influenced by bank merger and procurement on making credit accessible to private venture (Peek and Rosengren 1995, 1998; Berger et al. 1995). This is on the grounds that these examinations depended on information up to the mid-1990, while information as at 1995-1997 being the pinnacle of union were not completely utilized. This has demonstrated to bear some significance with further investigate whether the new rush of union may influence independent companies in an unexpected way. Taking into account this significance snippet of data and the flaw of the market component to activate and dispense budgetary assets to socially alluring financial exercises of any country it is advantageous to examine the connection among merger and procurement and credit accessibility. In view of the above foundation, the energy and inspiration of this exploration is to fundamentally examine and watch if there is any relationship, or association between bank mergers and acquisitions as an ingenious answer for loaning. This examination, in this manner, need to research and discover proof that union between banks of jumper structure and resource base that happened because of the Nigerian financial change of 2004, could contrarily influence independent venture loaning. This is the motivation behind why we decide to look at the impact of MA to SMEs in Nigeria. Point and Objective Point The primary reason for this thesis is to look at whether bank mergers and acquisitions are a clever answer for loaning to SMEs. Accordingly the primary research question may be: Do banks mergers and acquisitions increment or diminishing credit accessibility to SMEs? This prompts various sub-questions: Does budgetary execution in the financial division unfavorably influenced private company loaning after MA happens? What different components influences or is liable for credit accessibility to SMEs from the Nigerian banks? To introduce key discoveries and proposal dependent on information examination and data gathered. Research Methodology There are a few research techniques that could have been utilized in this work, for example, a Questionnaire based overview through the appropriation of survey. Completing direct meetings with Small entrepreneur and Bank directors or advance officials is likewise a powerful way to assortment of information data. Since the fundamental motivation behind this examination is to analyze if bank mergers and acquisitions increment or lessening credit accessibility to SME, we will utilize bookkeeping based money related proportion investigation. The utilization of monetary proportion in estimating a banks execution and its viability to recognize elite banks from others is very normal in the writing (Abdulla, 1994a; Samad, 2004a). Information Sample Ten Nigerian business banks which have successfully been merged with other littler banks will be considered in this investigation over the time of 2000-2009 dependent on the accompanying reasons: First, these banks are for quite some time set up privately consolidated banks in Nigeria. Furthermore they have been associated with the union procedure from little bank to uber banks, going through the premerger stage up to the post merger stage. Thirdly the period 2000-2009 adequately covers the range before union and after solidification. The information that will be utilized in this examination is taken from Bank Scope. The yearly fiscal report of the best ten business banks dependent on their benefit base. All the figures are communicated in Naira (=N=) the Nigeria indigenous money. Since one of our points is to inspect whether the measure of private company loaning is influenced by the new union enactment passed by Nigeria government on bank change, we will likewise be looking at the figures from the legal hold. This is required for every single business bank in Nigeria to contribute 10% of their benefit before assessment to Small and Medium Enterprise Equity Investment Scheme. Almost certainly, we will catch the aggregate sum of independent venture loaning that is really provided to private ventures inside Nigeria. Thesis Structure The thesis is part into five sections: Part one is the presentation of the exposition theme, related examinations and the inspiration for the decision of the thesis Part two spotlights on the Nigeria banking segment, how the financial division has created in Nigeria throughout the years. Covering the historical backdrop of the Nigerian financial segment separated into four periods: the sprouting time frame, the extension time frame, the united period and the post-solidified period. High lighting major monetary improvements from advancement that saw the presence of 87 banks to the solidification of banks by the Central Bank of Nigeria cutoff time of 2005. Part three is a writing audit on scholastic writing and investigative view on merger and procurement and its hypothesis in banking. This section targets giving a total image of bank mergers and acquisitions (MAs) in the hypothesis of banking and at offering financial assessment and key investigations of the

Transfer Application Essay Samples to UCLA

Transfer Application Essay Samples to UCLAUsing transfer application essay samples to UCLA is really the ideal thing to do if you're looking for some good advice. These will help you decide on how to put together a winning, interesting essay that will help you get accepted into your preferred college.One of the things you will find is that transferring to UCLA doesn't necessarily have to be such a difficult process, as there are some brilliant reasons why transferring to the University of California is one of the best things you can do. For one thing, there are far fewer competition as compared to other schools like Harvard and Yale. This means that the university tends to be more selective, which means that it is even more important that you know how to apply for scholarships and work hard on your application essay.There are a lot of different ways in which you can use to transfer application essay samples to UCLA, but the key is to understand that this will take some time and effor t on your part. You need to be able to identify what the university's requirements are in order to make sure that you are able to get into the university.The majority of the things you will be asked to write about are quite simple things, but the more you are able to understand what these requirements are, the easier your essay will be to write and the better it will end up being for you. To help you with this, you will find a lot of these essays available online, from the UCLA School of Law and online, so that you can get in touch with these resources whenever you want.There are certain guidelines that you will need to follow, however, to ensure that you do well on your essay. Since UCLA will be reviewing your application using the Common Application and National Merit Scholarship Program, the essay that you write for them will need to be something that will demonstrate how you have excelled at everything that you have done, including how you might excel at the other colleges that you are applying to.There is no better way to demonstrate this than by writing an academic essay that is based around two of the schools you are applying to. The one thing you need to do is to be able to apply yourself to writing this, because there is nothing worse than to find out after your application has been submitted that you simply cannot write.One thing that is worth bearing in mind when you're transferring to UCLA is that many of the transfer application essay samples available online are not written by students who are currently attending UCLA. They have been written by people who have done this before, and you will find that they often provide very useful advice in their own advice on how to apply for scholarships and the rest of the details associated with transferring to UCLA.If you do need to read as many of these essays as possible, you should choose ones that were written by people who have already graduated from UCLA, so that you can read what you learn as a whole. With this in mind, you should find that you will have much better luck with the essays you have to write for the transfer application, and you will be much more likely to get accepted into UCLA.

The Book By Daron Acemoglu And James A. Robinson Why...

The book by Daron Acemoglu and James A. Robinson Why Nations Fail: The Origins of Power, Prosperity, and Poverty discusses theories that explain the differences in standards of living and incomes among rich countries, such as the United States and the United Kingdom, and poorer countries in regions of South Asia and Central America. The basic theme of the book is that nations fail because of political institutions, rather than geography, culture, or economic policies. Acemoglu and Robinson theorize that political institutions can be divided into two types: extractive institutions where small groups of people take advantage of the population, and inclusive institutions when large groups of people are included in decisions made by the†¦show more content†¦Although extractive institutions can experience growth, the growth cannot be continuous without what the authors call creative destruction. Inside is a great contrast between nations, whether by the United States and Mexico, North and South Korea, or the comparison between Bill Gates and Carlos Slim. By doing this, the book keeps the reader engaged by jumping back and forth and showing the significant differences between the countries, or people, being compared. The points are explained well through the history with the rise and fall of the Romans to the rise of China out of nowhere. The focus on the changes is one of the strengths shown in Why Nations Fail. The book goes into detail about how one simple detail can trigger massive changes, such as in the 14th century during the Bubonic Plague. By discussing these differences, it is easy to show how fragile infrastructures of nations are and how little it takes to shift them. Another big thing that Acemoglu and Robinson discuss is how countries shift from one institution to another. These switches often occur during a revolution. One of the biggest determinants is whether the revolution is narrow based or broad based. The French Revolution of 1789 is a good example of broad based revolution. Why Nations Fail argues that the development of the Napoleonic regime is because of the original broad-based nature of the French revolution. It is hard to make this claim, however, due to the almost century that passed

Marketing Plan For A Marketing Strategy - 909 Words

A marketing plan is crucial to the survival of an organization. Marketing plans need to be well thought out and target a certain market. The market that an organization chooses will demonstrate what direction they want the organization to head in. However, choosing just one market will be problematic to the organization because they will be missing out on other opportunities to grow. The organization needs to operate like the old sane, kill two birds with one stone. Therefore, if an organization can effectively and efficiently provide a quality marketing strategy; the organization will be able to grow vertically and horizontally. An organization can only grow if the company’s philosophy is based on long term ideas and not short term. A marketing campaign seems like a short term idea to achieve finical goals. However, a successful marketing campaign will be based on long term goals. Long term thinking is the only way an organization can instill trust and loyalty in the customer /patient. Once trust and loyalty is adopted by the consumer, the organization will begin to operate as long term thinking organization. Superior health philosophy is based on long term goals that promote longevity to the community and the organization as a whole. Currently Superior health is deciding on a new location for their organization and this process is costly to the organization. This financial burden needs to be handled effectively so that the Superior health can still provide quality careShow MoreRelatedMarketing Plan For A Marketing Strategy1205 Words   |  5 Pages Any company, of any size that is successful in marketing always starts with a marketing plan. Large companies have plans with hundreds of pages; while small companies can get by with a half-dozen sheets. You should at the very least refer to it quarterly, but better yet monthly. By adding monthly reports on sales/manufacturing; this will allow you to track performance as you follow the plan. Any marketing plan begins with an assessment of your company’s current situation. This should include theRead MoreMarketing Plan For A Marketing Strategy1299 Words   |  6 Pagesimportant to plan ahead in regards to how this product will meet the main stream consumer. The concept of marketing may seem like a simple process, â€Å"business success using a simple process of understanding and meeting customer needs† (Drummond, Ensor, Ashford, 2014). One tool used in order to ensure product to consumer success is a marketing strategy. A marketing strategy combines all of the mark eting goals and business goals in to one comprehensive package (Lake, 2016). The marketing plan explainsRead MoreMarketing Strategy : Marketing Plan Essay997 Words   |  4 Pages IV. MARKETING PLAN Our product s main marketing objective is to focus on the customers wants and needs and, at the same time, maintain a marketable selection of shoe polish at all times. This will allow us to effectively influence and persuade them to buy. Marketing Strategy:- Advertising: Our main advertising strategy is to let our potential customer know that we are aware of their wants and needs and have quality inventory and prices. Market Segmentation, Target Marketing and PositioningRead MoreMarketing Plan For A Marketing Strategy1241 Words   |  5 Pagesathlete endorsers Viral Marketing Innovation Products Durability Weaknesses Specific products Expensive accessories and products Increased competition No flash Opportunity Global market is increasing Content delivery technologies Media hosting Viral marketing Threats Hardware company competition (Sony) Media company competition (Facebook) Note. The GoPro SWOT assessment of external and internal environmental elements. 5.0 Marketing Strategy and Goals The goal of this marketing plan is to leverage existingRead MoreMarketing Plan For A Marketing Strategy Essay998 Words   |  4 Pagesthe marketing activities. If they exceed the allocated budget, it could lead to conflict with the Finance team and will be detrimental to the company’s overall profits and will be against the company’s strategy to generate more profits. Many companies follow a very high level of corporate ethics and responsibility and hence marketing strategy should also be in line with this strategy. If the company advertises a wrong good or in a wrong manner, it can lead to reputation loss. The marketing mix hasRead MoreMarketing Plan For A Marketing Strategy1772 Words   |  8 PagesMarketing strategies is a strategy that takes in consideration of all marketing goals into a one comprehensive plan. A good marketing strategy should be drawn from market research and focus on the right product mix in order to achieve the maximum profit potential and sust ain the business. The marketing strategy is the foundation of a marketing plan. Their three steps for developing a good marketing strategy 1) Planning Phase It includes SWOT analysis of your business in the marketplace, once customersRead MoreMarketing Plan For A Marketing Strategy Essay1928 Words   |  8 PagesExecutive Summary The idea behind his marketing plan is to take advantage of digital technology a majority of customer are already using every day. Frequent traveler are in tune with Delta’s fares and services provided. The company must broadcast these benefits to the population at large in order increase its share of the market. The customers utilizing other carriers or other forms of travel is vast untapped resource that Delta needs to reach. Television and newspaper ads are becoming increasinglyRead MoreMarketing Plan For A Marketing Strategy Essay906 Words   |  4 Pagesestimates and financials required for the proper and effective conduct of this marketing plan throughout calendar year 2016 by On-Target of SoCal can best be broken down and expressed within the following three major categories; implied, specified, and shared marketing activities. Each of which will be further addressed in the following paragraphs. Implied Marketing Tasks The Implied Marketing Tasks include all those marketing activities conducted directly and routinely by the entire staff of On-TargetRead MoreMarketing Plan For A Marketing Strategy1326 Words   |  6 PagesMarketing Plan Once when our business is planned and everything is done in proper manner than our time starts doing marketing and introduce our services to our target customers and place the image of our product in our customers mind. Actually language translation business is not same as product selling business, in product selling business, you have a product which customers can touch and check butt marketing and selling services is the hardest job because some our customers are unawareRead MoreMarketing Plan For A Marketing Strategy1071 Words   |  5 PagesWhat is marketing? My personal definition of marketing is getting your product or service out in the open and communicating the benefit it can serve to the public or a particular industry. In order for your marketing plan to be successful, you have to decide which customers to target your marketing strategies towards. You have to make these customers believe that they need your product and tell them how it will create value for them. Using the marketing mix of tools called the four P’s of marketing

Essay - 753 Words

The first article talks about how the United Kingdoms future of economic growth and trade doesnt look very promising. The International Monetary Fund cited that the UKs private consumption suffered a decrease, as did the value of the pound. These drops were used as reasons for being less active. Predictions for economic growth in other countries were raised, while Britains decreased by 0.3 percent. The outlook of growth for the medium term was described as highly uncertain. Economically, Britains future relationship with the European Union was a factor in its growth outlook, as were an increase in trade barriers, emigration, immigration, and financial activity across the border. In 2019, the scenario could be a no deal one, the†¦show more content†¦For countries with relatively low amounts of natural resources, the building of local businesses is necessary to aid development. Last year, East African countries tried raising tariffs on foreign outfits, but they paid the price for it. The United States didnt think that trading with certain countries would benefit themselves, and so they were willing to remove a majority of the nations which were a part of the Africa Growth and Opportunity Act, which was intended to help trade. America wants to prevent people from losing jobs, as well as grant free access to small markets. This article shows that international trade can have practical limitations. The textbook explains that one of these limitations is the fact that while two countries can both benefit by trading with each other, excessive trade can harm people and businesses. Also, by raising tariffs and discouraging trade, African countries are both impeding economic growth and lowering the standard of living. The third article talks about how Thailands prediction of economic growth is now at 3.9 percent, a 0.3 percent increase from an earlier forecast. 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This paper will discuss everything one needs to know in order to write the perfect process essay such as the definition of a process essay, how to construct it, and how to use proper transitions to make the essay flow. Read MoreEssay763 Words   |  4 PagesCan’t be Built on Soccer Fever† and â€Å"Na Na Na Na, Hey Hey, Goodbye† In Jonathan Zimmerman’s essay â€Å"African National Identities Can’t Be Built on Soccer Fever† he describes how soccer brings the people of Africa together. He talks about the unity of Africans and how much soccer is a part of their lives. He also describes the underlying reason of why soccer is so heavily pushed. The perspective in the essay â€Å"Na Na Na Na, Hey Hey, Goodbye† Tim Bowling discusses his passion for hockey and his hate forRead MoreThe Colonel Essay1320 Words   |  6 PagesIn the essay, The Colonel, Michael Hogan illustrates the importance of the influential sport of tennis. Hogan writes about how tennis changed his life from an early age. When he was younger he saw tennis as a rich mans sport in which he had no interest. One of his much-respected neighbors, the colonel, approached Hogan’s father with the idea that his son might like to learn how to play tennis. After pondering the thought with his father, Hogan decided to take t he offer. The Colonel became his mentorRead MorePersuasive Essays : Persuasive Essay897 Words   |  4 Pagesbegan this class, I loved to write persuasive essays. I loved to write about my own opinions and I was quite good at convincing people to agree with my stand points. To convince others to agree on my point of view was an extraordinary feeling. I am very good at getting my point across and giving my reasons on why I feel the way I do about a certain situation. I loved writing persuasive essays because I love to read them as well. 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In our days computers have become an importantRead More Community Essay843 Words   |  4 Pagesan important effect on the shaping of a person’s character is key in both Pythia Peay’s essay, â€Å"Soul Searching† and Winona LaDuke’s interview transcribed in essay form entitled, â€Å"Reclaiming Culture and the Land: Motherhood and the Politics of Sustaining Community†. The two authors present ideas, similar and different, of what it means to live in and be a part of community. Through examining these two essays, summarizing and synthesizing, we can gain a better understanding of what community is and

Evaluation of Market Power Australian Super Market

Question: Discuss about the Evaluation of Market Power for Australian Super Market. Answer: Introduction The report aims to analyse the nature of Australian super market industry and its structure. The study mainly focuses on the market power of two supermarket giants Coles and Woolworths. Coles is the firm which has showed steady performance while other firms have suffered from lower profit margin. Australian super market industry is oligopolistic as a market power is acquired by a few numbers of firms operating there. Coles has 37.3% and Woolworths has 32.5% market share in this industry (Chung, 2016). Woolworths and Coles together have 1760 supermarket stores in Australia. Consumer base of both companies are strong compared to other market player. The first section of this report analyses the super market power of these companies and the later section discusses on competition between two companies. Market power of the companies Australian grocery supermarket industry is oligopolistic in nature as total market share is entitled to a small number of firms and imperfect competition prevails in this industry. The major market power in this market is Woolworths, Coles, Aldi and Costco. There are other firms, which together hold a small portion of the market share. They engage in price war to increase profit and market share. A fierce competition exists in this market. Woolworths and Cole has economies of scale in this market and hence price cut is easier for them compared to other small firms (Dwivedi, et al., 2012). Another strategy that these two firms use to increase market share is product differentiation and expansion of product range. Market power is determined by market share, range of products, customer base, and number of employment. As stated by Tyers (2015), market power is determined by the ability of the firm to raise profitability by setting price over the marginal cost. Market power of the firm indicates power to raise prices without losing number of consumers. Leigh (2016) argued that firms that have low market power are price take in the industry. Therefore, it can be inferred that the firm, which can control over the price and output in the market, get a market leadership in the industry. In the view of Hughes et al. (2013), market power is determined by the barriers to entry in the market and availability of substitute in the market. An oligopolistic firm has negatively sloped demand curve. The firm has rising marginal cost curve. Equilibrium price is determined at the intersection point of marginal cost and marginal revenue curve. However, as the firm has some extent of market power, the oligopolistic firm sets price above the competitive price level and as per average revenue(Hughes, et al., 2013)). The market power of the company depends on the power of raising price over the marginal cost. It depends on the elasticity of the demand curve of the firm. The market power is higher when elasticity of demand is less (Tyers, 2015). Demand curve of the firm is less elastic, when is less options available to the consumers. Food supermarket in Australia is oligopolistic as Woolworths and Coles follows all these criteria. Chung (2016) stated that Australian people spends $100 per week at Coles and Woolworths stores. These two firms have able to create the brand awareness so that consumer always gives first preferences to either Coles or Woolworths. Keith (2012) mentioned that Coles and Woolworths controls around 70% of the market share in Australian super market industry. Concentration of market power of these two firms has led the Australian Competition Commission to inquire into this matter. Profitability of both companies has increased substantially over the years. According to Lawrence, et al., (2013), these two firms put pressure on farmers and on the food chain regarding prices, volume of transaction and commercial strategies. Therefore, they influence the terms of trade in favour of their profitability. Market power of these two companies can be evaluated from the price determination power. As mentioned by Hughes, et al., (2013), when the food supermarket industry was facing deflationary problem in Australia due to global financial crisis, the food price decreased significantly. However, Woolworths and Coles raised prices of food products to boost up the prices. During 2012-13, Woolworth increased price by 2.9% and Coles increased by 1.7%. However, there is a controversy regarding this price rise. Study of Citigroup has shown that price raised by Woolworths two times between May and June in 2014. Prices raised by 1.3 % and 8.7% consecutively. This instance can indicate towards market power of two companies. However, Wardle (2015) argued that these two firms have used price cutting strategy several times. The volume of sales matters in this respect. Supermarket is favourite place to the customer due to availability of range of choice. People get multiple options for buying consumer goods. They can even made choices regarding the price of the product. As the supermarkets such as Woolworths and Coles have large scale of operation, they keep an extensive range of product in the retail stores. The problem is that food products have durability. As there is possibility of food wastage after a curtain period, theses companies limit their orders. Farmers often depend on the giant supermarket firm as the rush of people is concentrated there. Therefore, when big firms like Woolworths and Coles limit their product demand, farmers has to cut their production or has to destroy their production by making loss (Knox, 2014). This instance implies that these firms exercised monopsony power while dealing with foods suppliers and the farmers. Another indicator of market power is barrier to entry into the market and market share. Firms can enter into the market when exiting firm can make significant positive profit. However, as said by Leigh Triggs (2016), firms can create barrier to entry if cost structure is very high in this industry or there are presence of wide range of differentiated products. There are limited numbers of firms operating in this industry. However, Aldi is a growing super market firm that is giving tough competition to these giant firms in present days. Aldi has potential to grab market share from existing firms. Although Aldi has low market, this firm is growing at a faster rate to catch Woolworths and Coles. Inspite of advent of Aldi in the food super market industry, it can be said that Woolworths and Coles have significant market share as they have been able to create entry to barriers over the years. Price cut and product differentiation have been important strategies for these firms. Therefore, it can be said that concentration of market power has turned the food super market industry from oligopoly to duopoly. Competition between Coles and Woolworths Keating (2015) opined that competition in an oligopolistic market is good for consumer as it maximises consumer welfare. Although Woolworths engage in price war, it rarely responds to price rise but frequently responds to price falls. Tyers (2015) stated that oligopolist firm follow kinked demand curve through short lived price war. During short term price wars between two firms, both firms try to snatch market share. Kinked demand curve predicts that the firm can maximise output at the level Q1 and the price P1. The marginal cost cuts MR at the discontinuous portion. The equilibrium price and output remains unaltered even if the MC curve shifts upward due to rise in cost. Price stability is a characteristic of oligopoly market. In the view of Keith (2012) if any oligopolist like Woolworths or Coles behaves according to the kinked demand curve, it does not respond to the hike in the price of the product above P1. However, as discussed above, it has been seen that price rise by Woolworths has been followed by price hike by Coles. Lawrence, et al., (2013) argued that price hike after global economic crisis was an instance. Response for price hike rarely occurs. The price hike is not profitable for one firm. Reason behind this is if one firm increases price as well, there is a fear of losing market share. Consumers may shift to other firms to purchase same product at a lower price. Therefore, decrease in number of consumer decreases sales volume of the firm and hence negatively impact on the profitability. Therefore, price increase is not profitable and rational. On the other hand, price fall is followed by both firms. If price falls below P1, the rival firm decreases price as well. If the firm does not respond, profitability reduces. By lowering price, a firm can attract more consumers. Therefore, they engage in price war. This reduction in price is beneficial for the consumers in the short run. Leigh Triggs (2016) argued that this price war often results in loss for both the firms. However, in reality, Woolworths and Coles both engage in price war as fierce rivalry exists between them. Therefore, continuous reduction in price may reduce profit margin. In the view of Dwivedi, et al., (2012), as price of product falls, firms reduce their supplies and hence, choices to the consumers decrease. Moreover, quality of the product also decreases. Firm increases there supply when price of the product rises as per the rule of supply. Upward sloping supply curve of the firm shows that firms increases production with the increase in supply price. When price decreases, quantity demanded by the consumer increases, however, firms are not able to supply at the point of market demand. Those excess demand created in the market can be absorbed by other competitive firm. In order to hold the market share, both Woolworths and Coles take various strategies such as online retailing. Aggressive marketing strategy makes consumer better off as consumer surpluses increases. However, aggressive marketing strategy may reduce product quality which may decrease consumer satisfaction. As reported by Chung (2016), Woolworths decided to reduce price as in order to regain its market share. Increasing market share of two firms are treat for the farmers and suppliers. Cost of supply of grocery products increases for the suppliers. As both the firm has market power, they can purchase products at a lower price from the farmers and other suppliers. In the view Feng, et al., (2014), they may even face financial problems in their business operation. As both firms restrict the product demand and emphasise to promote local brand, the big brand gets lesser opportunity to explore in the Australian market. As a result, food security in Australia has been under question. Competition policy is making Australian food market worse off. A healthy competition between two companies is good for the economy. However, as stated by Bariacto Nunzio (2014), aggressive market strategy may ruin sustainability of their business in long run. Firm gets economies of scale when average cost of supply is falling for a long range of output. Barriers to entry in this market reduce due to price competition. Therefore, chances of new entry increase. New entry such as Lidl, Aldi is threats for Woolworths and Coles of reducing market share. However, if the competition shifts from price to product differentiation and product innovation, that would be beneficial for both the companies and the consumers. Marketing strategy of both firms is more or less similar (Dagge, 2016). Therefore, it can be said that fierce competition between two firms may reduce barrier to entry and increase competition in this market. Entry of new firm may make competition healthy. Recommendation In order to improve competition policy in the food super market industry, firms may take other policies such as cost leadership, product differentiation or strategic alliance. Cost leadership is the strategic policy to achieve long run sustainability in the industry. This strategy can give competitive advantage, economies of scale and the market leadership. An oligopolistic firm can be a leader or follower in the market. A follower can take decision after observing the steps taken by the leader and acts accordingly. Another strategy may be strategy alliances between two firms. Cartel formation cans significant barriers to entry in the market by reducing the competition. However, this policy is desirable for the firms but not for the consumer welfare. Conclusion The study presents a report on the market power and competition policy of two giant firms in Australian food super market. The study finds that these two companies hold more than 70% market share in the Australian super market industry. They are able to make growing profits over the years and create significant barriers to entry. However, entry of Aldi in the market has proved that barriers to entry are not high in this market. Product differentiation strategy and the cost leadership make competition easier. Market power of these two firms is such that the super market industry has turned from oligopoly to the duopoly market. References Bariacto, N. Nunzio, J., 2014. 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