C5 - Managerial Economics Essay Example | Topics and Well Written Essays - 4250 words

C5 - Managerial Economics - Essay Example The objective of the paper is to provide advice to a large travel agency of Hong Kong from an economic point of view in order to reassess the company’s business strategies. Relevant official data available in the government sites, the local airlines, and travel agencies will also be collected to facilitate the analysis in this study. Our prime focus will be to provide an in-depth analysis of the pricing strategies adopted by the local airline industry by using the concepts of market structure, cost and revenue structure and price discrimination. With this purpose, an in-depth analysis will be conducted through literature review describing the current business environment of Hong Kong airline industry. 2 Background 2.1 Theoretical Background Evidences have revealed that economic factors have a significant influence on the business environment of any and every region (The Times 100, 2008; Kitching & Et. Al., 2009; Floyd & Wooldridge, 1997). Based on this concept, experts have fi rmly stated that macro and micro economic factors, both play a crucial role in influencing the pricing strategies of an industry. Besides, the macroeconomic environment which may greatly affect the demand side of the market, the micro economic factors can be witnessed in terms of the market structure of the industry, the price discrimination taking place in the market scenario, its cost and revenue structure as well as the demand elasticity observed in the industry (Nadar & Vijayan, 2009). Musonera & Ndagijimana (2001) stated that the pricing strategies of an organisation depend largely on the political, economical, technological and social factors. For instance, when the economic factors tend to be highly fluctuating, the pricing strategies of organisations are developed to be flexible which can effectively deal with the economic variations. It is in this context that the aforementioned factors create a string impact on the market structure of firms in an industry which in turn inf luences its pricing structure (Mazzucato, 2000). Hong Kong airline industry is scrutiny by various regulatory bodies, such as Civil Aviation Department, International Air Transport Association (IATA), Airport Authority Hong Kong and others. These regulatory bodies deliver the industry with a strong and well-organised structure (Information Services Department, 2010). The initial factor that will be considered in this study is the influence of market structure on the pricing strategies of the airline industry. Market structure relates to various elements existing in the business environment such as product differentiation, market concentration, economies of scale, vertical integration of the competitors in the market and other similar aspects that in turn define the market structure of an industry. Therefore, market structure can be defined as â€Å"the organisational characteristics of a market that largely determine where it fails on competitive spectrum between monopoly and compe tition†

Privacy Policies Essay Example | Topics and Well Written Essays - 750 words

Privacy Policies - Essay Example For instances it could be the illustration of a website offering information regarding the exercise of personal information, mainly personal information gathered by means of the website by the website owner. Privacy policies frequently encircle facts of what personal information is gathered how the personal information probably will be utilized, the persons to whom the personal information may be revealed, the safety actions taken to defend the personal information, and whether the website employs cookies and/or web bugs.1 A number of websites as well identify their privacy policies by means of P3P or Internet Content Rating Association that is also acknowledged as ICRA, facilitating browsers to without human intervention appraises the level of privacy presented by the site. For this paper the first web site I have selected is the â€Å"www.attwireless.com.† is business website of the AT&T Wireless Inc. AT&T Wireless is the major independently traded wireless mover in the US. AT&T Wireless functions one of the biggest digital wireless networks in North America. AT&T has in the order of 18 million subscribers, and complete-year 2001 revenues of 13.6 billion dollars, AT&T Wireless is enthusiastic to being amongst the preliminary to bring the next generation of wireless goods and services. Nowadays, AT&T Wireless presents customers high-class wireless voice and data communications services and services in the United States, and globally. AT&T Wireless consumers’ gain is the companys declaration to make sure that customers have the exact equipment, the correct calling arrangement, and the correct customer services options these days and tomorrow. For additional services and information you can visit their web site: www.attwireless.com.2 This privacy policy tackles the privacy of AT&T family of company’s buy and sells consumers and web guests in the US, apart