The following video discusses the four types of markets: perfect competition, monopolistic competition, oligopoly, and monopoly.
Given the market structures as described in the video, identify at least two articles from the ProQuest database that highlight and discuss two of the biggest challenges facing financial managers today in these varied market structures. In a three- to five-page paper (excluding title and reference pages), summarize your findings from the articles. Include how market liquidity, competitiveness, and efficiency impact financial managers. The paper should be formatted according to APA style as outlined in the Ashford Writing Center. Be sure to properly cite your two required articles resources using APA style.
“A Case Study of KFC Malaysia Holding: Channel utilized by KFC to tackle correspondence emergency” Theoretical On sixth February 2013,the kitchen staff of KFC I-City outlet at Shah Alam, has gone brutal towardone of the clients because of miscommunication. The client was then put on the floor after a warmed contention between the staffs and the customer.This issue at that point settle by KFC Malaysia Holding with a legitimate choices. One of the options utilized by the organization is to utilize the correct divert in comprehending the issue. Fundamentally, the primary point of this examination is to analyze the channel utilized by KFC Malaysia Holding to fathom the correspondence issue explicitly the occurrence of staff and client got into a battling. This examination is attempts to address the subject of the adequacy of the channel utilized by the organization to take care of the issue or issue. The overview technique will be utilized in this exploration for information gathering. As this strategy fall under quantitative technique, SPSS (Statistical Package for Social Sciences) programming will be utilized to examine the information. The finding of this exploration will assist the future analysts with understanding the viability of channel utilized by the Food and BeveragesCompany in taking care of their concern or issue. Furthermore, this examination will include more writing a similar point. Catchphrases: Channel, issue, Food and Beverages, Effectiveness Writing Review Meaning of Crisis In Effective Crisis Communication (2011), emergencies can best characterize as one of a kind crossroads throughout the entire existence of an association. These days, “emergency” has been utilized generally in a day by day discussion. Individuals utilized this word to portray their concern. For instance, they allude to this word on the off chance that they disregarded their meetings with their customers, having a terrible hair days or even fight with the relatives. These are terrible encounters don’t depict or portray the emergency. With regards to the organization, the majority of the organization alludes emergency as something that identified with the issue. For instance low deals or shy of labor are expect as the emergency to the organization. The majority of the circumstances are not emergency. Be that as it may, more often than not the organization will think about every one of the circumstances as emergency. Emergency is characterized as any circumstance that is undermining or could even take steps to mischief individuals or property, genuinely interfere with business, harm notoriety as well as adversely effect stock worth (Jonathan Bernstein,2006). As per Hermann (1963), he distinguished three attributes of isolating emergencies that are shock, risk and short reaction time. An occasion won’t accomplish the degree of emergency without coming as a shock, representing a basic degree of danger and compelling a short reaction period. Robert, Timothy and Matthew(2011) referenced in their examination that emergencies can be partitioned into two classifications which are deliberate emergencies andunintentional emergencies. “Purposeful emergencies are those global demonstrations which is intended to hurt an association, for example, psychological oppression, damage, working environment viciousness and poor hazard the board though accidental emergencies are the emergencies brought about by characteristic and some wild factors, for example, cataclysmic events or item disappointment” (Robert, Timothy and Matthew, 2011). With respect to the occurrence case occurred in KFC Malaysia I-City outlet, the episode are class under the inadvertent instance of emergency. The episode occurred because of some misconception between the specialist and a client who has been sitting tight for the nourishment for certain occasions and did not get the sustenance. Emergency Communication Each organization encounters emergencies yet huge numbers of them never attempt to defeat the emergency (Gupta,2011). Jonathan Bernstein (2006) expressed that the least expensive approach to transform understanding into future benefit is to gain from others’ missteps. There are eleven greatest missteps to abstain from during emergency. To ensure that the emergency thrive and develop, association ought to stay away from these 11 botches: play ostrich, just begin take a shot at a potential emergency circumstance after its open, let the notoriety to talk, treat the media as adversary, stall out in response mode as opposed to getting proactive, use language that the group of spectators does not comprehend, accept that reality will triumph over all, address just issues and disregard the emotions, own lone composed expressions, use “best supposition” techniques for surveying harm and rehash very similar things with anticipating diverse result. (Jonathan Bernstein, 2006) These all are the enormous NO in an emergency. Other than that, Bernstein (2004) additionally has actualized the 10 stages of emergency correspondences in fathoming the correspondence emergency. One of the means worried by Bernstein (2004) was referenced that the staff in the organization ought to be prepared ahead of time so as to get ready for react to all sort of inquiries. At the point when KFC Holding Malaysia had wound up in a high temp water circumstance when the video of the battle case circulated around the web on YouTube, the organization has immediately made strides by continue posting standard reports on Facebook page to stay with the clients refreshed on’s examination just as by doing this the organization attempts to quiet down the indignation of the general population over the episode occurred in its I-City outlet. Aside from this episode, KFC Malaysia was likewise looked with another emergency in 2011, where there was a video of sustenance altering by their kitchen staff began to flow on Internet in year 2011. In any case, KFC Malaysia organization does do whatever it takes not to dodge the emergency, rather, as a feature of the emergency reaction technique, the organization set up a page on its Facebook to recount to its side of the story so as to reestablish the purchaser certainty. Fong (2011) said that KFC Malaysia was achievement in staying away from emergency to its convenient, open, honest, Internet present and comprehensively imparted emergency correspondence plan as the drew closer empowered the organization to hold onto the data activity and viably outline the emergency as the activity of a solitary maverick worker. Channel Used by Company to Solve Problem As indicated by www.ask.com/question/what-are-correspondence channels, a correspondence channel is allude to the medium which is utilized in transmission of a message starting with one gathering then onto the next gathering, for example, print media or communicate media. Channel is likewise characterized as a strategy or framework for correspondence or conveyance in Oxford Dictionaries. These days, as the web has changed the manner in which individuals work and collaborate, online life has comprehensively utilized by organization as the channel to unravel the emergency. Online networking can be utilized as essential methods for correspondence or as an option or even extra technique for correspondence. Internet based life gives numerous approaches to disperse data in a quick, reasonable and productive way which this assistance to get right data to the perfect individual at the ideal time. (Connie M. White, 2011) Moreover, web-based social networking is additionally being utilized as an elective route for crisis supervisors to speak with the general population just as one another. It gives a free and simple approach to scatter a lot of data to huge gathering of individuals rapidly yet proficiently. (Connie M. White, 2011) Therefore, when KFC Malaysia is confronting the correspondence emergency back in year 2011 with respect to about the battle case occurred in one of the outlet, KFC Malaysia utilized Facebook as one of the channel to fathom the emergency. The organization keep the clients normal updates about the examination by posting the status on its Facebook page. Other than that, when the sustenance altering occurred in June 2011, KFC Malaysia utilized web based life, for example, Facebook and YouTube as the channel to unravel the correspondence emergency. The organization attempt to reestablish back their image pictures by recounting to its side of the story and they have made Question and Answer area in their web based life page. Also, this has effectively lead KFC Malaysia out of the emergency. End This contextual analysis is done to give more writing on Food and Beverages field of how the organization settle and explain the emergency. Other than that, this contextual investigation is additionally done to comprehend the channel utilized by the Food and Beverages organization while counter the issue and to help KFC Malaysia Holding to improve their administrations later on. References: 1. Hermann, C.F, (1963). A few results of emergency which farthest point the practicality of associations. Authoritative Science Quarterly, 8, 61-82. (Refered to Name of the creator 2010) 2. Successful Crisis Communication: Moving From Crisis to Opportunity – Google Books. 2014.Effective Crisis Communication: Moving From Crisis to Opportunity – Google Books. [ONLINE] Available at: http://books.google.com.my/books?hl=en&lr=&id=bC3J1C0BXQwC&oi=fnd&pg=PR1&dq=definition+of+communication+crisis&ots=kxWywUAyyu&sig=8c1FjXqs7nFQNPv5ooVQ_gNaPf0&redir_esc=y#v=onepage&q=definition%20of%20communication%20crisis&f=false. [Accessed 16 April 2014]. 3. MRM London: SOCIAL MEDIA CASE STUDY: How KFC nail an emergency with online comms. 2014.MRM London: SOCIAL MEDIA CASE STUDY: How KFC nail an emergency with online comms. [ONLINE] Available at:http://www.mrm-london.com/2011/07/web based life contextual analysis how-kfc-nailed-an emergency with-great correspondences/. [Accessed 16 April 2014]. 4. Contextual investigation Review – Chee Sue Mei (0304377). 2014.Case Study Review – Chee Sue Mei (0304377). [ONLINE] Available at: http://cassieethicalcomm.weebly.com/contextual analysis review.html. [Accessed 16 April 2014]. 5. How KFC Malaysia Handled a Social Media Disaster. 2014.How KFC Malaysia Handled a Social Media Disaster. [ONLINE] Available at: http://www.techinasia.com/kfc-malaysia/. [Accessed 16 April 2014]. 6. . 2014.. [ONLINE] Available at:http://www.oecd.org/administration/chance/The%20role%20of%20Social%20media%20in%20crisis%20preparedness,%20response%20and%20recovery.pdf. [Accessed 16 April 2014]. 7. I-City KFC battle Updated : Workers have been suspended – Venusbuzz.com. 2014.I-City KFC battle Updated : Workers have been suspended – Venusbuzz.com. [ONLINE] Available at:http://www.venusbuzz.com/files/7893/I-city-kfc-battle refreshed laborers have-been-suspended/. [Access>
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