W4F1 – Monopolies, Intellectual Property, and Competition
Question: We had an opportunity to discuss Intellectual Property (IP) in the previous chapter when introduced to the Mixed Economy. One important element of that discussion was on the theme of property rights and new technologies. Closely aligned with that discussion is monopoly competition. Identify a company and/or industry that demonstrates monopoly competition characteristics (with or without the benefit of IP protections such as a patent) and discuss the ethical issues associated with the business practices of that company and/or industry. Are there any benefits as a result of this monopoly market?
I have attached chapter 4
Question: Mergers and Acquisitions (M & A) is a common strategy used by companies to develop a sustainable competitive advantage and provide long term profits. Horizontal merger and acquisition strategies are frequently used to increase market share in a specific market segment. Velasquez (2018) introduces us to a variety of anticompetitive strategies that oligopoly companies can use to gain an unfair competitive advantage often resulting in unfairly destroying smaller companies and injuring society. Those include: price-fixing, manipulation of supply, market allocation, bid rigging, exclusive dealing arrangements, tying arrangements, retail price maintenance agreements, predatory price discrimination, bribery, etc.
Provide an example that fits this profile and discuss the main ethical issues associated with the example.
I have attached chapter 4
Be sure to read Case Study 4.2: Archer Daniels Midland and the Friendly Competitors on pages 193 – 196. Chapter 4 cites a number of factors that cause companies to engage in price fixing. Identify the specific factors that you think were present in the ADM case and explain. In your view, was Mark Whitacre to blame (i.e. morally responsible) for what he did? Were there any obstacles to moral behavior present in his situation? Hint: be sure to use information from previous chapters that supports your analysis!
The case study is in the file attached and corresponding with the page numbers previously stated.
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