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ECN 1015 – Industrial Organization Paper

Industrial Organization PaperIn ECN 1015 you may have identified and researched a business that was of interest to you. This semester, in ECN 2020, you will consider the industry in which this business operates. (If you haven’t done the ECN 1015 paper, you’ll first need to find an industry of interest.) This assignment will help you to add skills and knowledge to your business “portfolio” so that in a Capstone Course you will be able to produce a “White Paper” on your industry and also to learn if this is an industry that aligns with your interests and your career goals.Below are links to a list of industries (shown in two different formats) provided by the Bureau of Labor Statistics (BLS) at the U.S. Department of Labor. Click on the industry link to obtain an overviewoftheindustryingeneralaswellassomeworkforcestatistics. NOTETHAT INDUSTRIES LISTED BY NAICS CODES ARE OFTEN GIVEN BY “SUPERSECTOR” AND ARE THEREFORE TO BROAD FOR THE PURPOSES OF THIS ASSIGNMENT. YOU’LL NEED TO NARROW YOUR INDUSTRY FOCUS TO A “SUBSECTOR” or smaller if possible. For example NAICS 713 is Amusement, Gambling, and Recreation Industries. If you are interested in managing or operating a movie theater, then you also shouldn’t be considering information about casinos for your paper. If you are not sure that you’ve narrowed your focus appropriately, ask your instructor. The next step is to examine your industry in detail. To do this, visit the Library and see the CSM Reference Librarian to find good resources about your industry through the CSM Library databases. See https://essays.homeworkacetutors.com/write-my-essay/csmd.edu/Library/ Your research will require more than just an Internet search with your favorite search engine.? List of industries shown as Goods-producing and Service-providing: https://essays.homeworkacetutors.com/write-my-essay/bls.gov/iag/tgs/iag_index_naics.htm? List of industries shown in alphabetical order: https://essays.homeworkacetutors.com/write-my-essay/bls.gov/iag/tgs/iag_index_alpha.htmIn no more than 8 typewritten double spaced 12 pt. font pages, not including your Reference List, address each of the following components under its own subheading, in an appropriate level of detail with conclusions supported by documented evidence:A. Executive SummaryA short summary (no more than one page) placed at the beginning of your project which provides the reader with an overview of the entire report.Note: This section is prepared last after all of your research has been gathered and your paper written.????B. Industry OverviewProvide a brief history of your industry. Write a page paper – Describe how and when it started. Discuss how the industry has evolved over time. Who are the major firms? Have these major firms always been the same, or have the dominant firms changed over time? What is the current industry size in dollars? What type of text-book market structure (think Chapters 12 – 15) exists in this industry? Be sure that you provide facts to support your market structure conclusion.C. Industry CostsWhat are the significant short-run cost factors in this industry (e.g., specific raw materials, R & D expenditures, unionized labor contracts, etc.)? What has been the nature of long-run cost in your industry? Are there economies, diseconomies, or constant returns to scale? Where do these economies come from? How are current national and world events impacting current costs? How might they impact future costs?D. Industry DemandWhat is the target market for this industry? How do the businesses in this industry segment its customers? Is demand relatively elastic or inelastic? (Make your case by inferring from your knowledge of the industry and your understanding of Chapter 6.) Are there close substitutes for the industry’s products or services? Are the products or services necessities or luxuries? Are the businesses in this industry able to price discriminate? Is demand growing or declining? Doconsumershavesimilarpreferencesordoconsumersdifferalotinpreferences? Whatare the relevant social influences on demand? (See Chapter 10.)E. Industry Developments, New, Innovations, and Government RegulationsThis section discusses the results of your industry research that is important, but did fit directly into any of the previous components. Additionally, do firms in this industry compete on price or quantity? How is advertising used? Assess the possibility of collusion in the industry. Who are the potential entrants into the industry and what, if anything is done to deterentry? What is the nature of government involvement in this industry? How are rules and regulations impacting competition?F. Industry MatchBriefly address if, after the research you’ve done and what you’ve learned about the industry, working in this industry aligns with your interests and your career goals. Be sure to state both your interests and career goals.?As with all academic papers, a Reference List (or Bibliography) and in-text citations are required. You may use either MLA or APA format.

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