Question

The market structure that best describes my organization is Monopoly, since I work for government agency I do not see any competition and government got rights to set the price on all the goods and services they provide. In a government monopoly, an agency under the direct authority of the government itself holds the monopoly, and the monopoly is sustained by the enforcement of laws and regulations that ban competition or reserve exclusive control over factors of production to the government. The state-owned petroleum companies that are common in oil-rich developing countries (such as Aramco in Saudi Arabia or PDVSA in Venezuela) are examples of government monopolies created through nationalization of resources and existing firms, (Government monopoly, n.d).The United States Postal Service is another example of a government monopoly. It was created through laws that ban potential competitors from offering certain types of services, such as first-class and standard mail delivery. Around the world, government monopolies on public utilities, telecommunications systems, and railroads have historically been common. Government decides the price of the good or product being sold. The price is set by determining the quantity in order to demand the price desired by the firm (maximizes revenue). There is a high barriers to entry where other sellers are unable to enter the market of the monopoly. Government got full rights to change the price and quantity of the good or service. As in an elastic market the firm will sell a high quantity of the good if the price is less. If the price is high, the firm will sell a reduced quantity in an elastic market. Basically government agencies are single ownership over a resource gives the owner the power to raise the market price of a good over marginal cost without losing customers to competitors for example application or registration fee, fines. Market power to profitably raise the market price of a good or service over marginal cost and raise prices without losing any customers to competitors. The portion of income paid to a factor of production in excess of its opportunity cost,(Monopoly, n.d). Challenges and opportunities would arise from higher and lower degrees of government intervention shows there are cases in which a government agency is the sole provider of a particular good or service and competition is prohibited by law. For example, in many countries, the postal system is run by the government with competition forbidden by law in some or all services. Government monopolies in public utilities, telecommunications systems, and railroads have also historically been common. In other instances, the government may be an invested partner in a monopoly rather than a sole owner. This will still make it difficult for competitors to operate on equal footing. In a government-granted monopoly, the government gives a private individual or a firm the right to be a sole provider of a good or service. Potential competitors are excluded from the market by law, regulation, or other mechanisms of government enforcement. Intellectual property rights such as copyright and patents are government-granted monopolies ,(Monopoly, n.d).

What can be done differently?

Answer 1

1. This article basically revolves around the efficient management of the resources available in any organisation.There is no need to change the employees but it is more important to use the resources to its fullest.For the purpose of the HIA 310 Advanced Quality Management and Performance Improvement in Healthcare ,this article provides ideas that the introduction of various tools and techniques are very important in case of proper management.This article has introduced a sot of management tools and Techniques known as LEAN. In this article we see that the healthcare system has introduced various tools in improving the overall quality to be delivered to the patients.In one example it is mentioned that the authority changes from one preson to another in different departments.This techniques help in overall development of each and every employee and all of them started to knaow what and where the problem is and from where it can be solved.This experiment not only help the hospital to improve its quality and satisfaction level of the patients but it has motivated employees too for serving better.The employees have learn better time management which is very important in Health care sector.The working efficency has improved drastically helping in the overall development of the healthcare sector.

2. In every field we have to be very sure about the services which we are going to deliver.Efficient management whether it be time,resouces or any other factor it must be fully utilised.This article helps in studying more about the improved management skills and improved quality to be delivered.We can apply this principle in any field.As we have read in the article that the priciples used in a motor company are very well applied in healthcare sector. The imrovement in quality is very necessary to gain profit and reduce the cost of providing the services.These can be taken as the guiding priciples in every other field because at the end of the day customer satisfaction is the top priority.