StudentShare
Contact Us
Sign In / Sign Up for FREE
Search
Go to advanced search...

The Benefits from Competition - Some Illustrative UK Cases - Case Study Example

Comments (0) Cite this document
Summary
This paper "The Benefits from Competition - Some Illustrative UK Cases" focuses on the fact that the UK was amongst the first nations in Europe to implement formal competition policy, more than 50 years ago but this area of policy has not been recognized as the most absorbing part of Economic study. …
Download full paperFile format: .doc, available for editing
GRAB THE BEST PAPER91.7% of users find it useful
The Benefits from Competition - Some Illustrative UK Cases
Read TextPreview

Extract of sample "The Benefits from Competition - Some Illustrative UK Cases"

Download file to see previous pages The old system for scheming restrictive agreements, the Restrictive Trade Practices Act, lasted some 44 years from 1956 to 2000. This was a system that moved between and mixed up; form and effects-based approaches with almost reckless dump.
In the United Kingdom, two main acts of legislation - the Competition Act of 1998 and the Enterprise Act of 2002 - have brought the EC's prohibition system to the UK, altered the name of the old Monopolies and Merger Commission to the Competition Commission and given it new powers. For example, they have criminalized price-fixing, created a specialist appeal and review court for anti-dependent cases and eliminated the old "public interest test", replacing it with a narrower, effects-based "substantial lessening of competition" test. At the same time, the two major competition policy bodies in the UK - the Office of Fair Trading and the newly renamed Competition Commission - have expanded, developed new areas of expertise and, possibly most adventurous of all, they have both been put into the hands of professors of economics.
Competition is basically a practice of rivalry between various organizations, each of them is looking for to succeed customer's business. This competition may take place in a variety of behaviours - some firms try to win on cost, some spotlight on raising the worth of presented products or services, while still others use entrepreneurial dexterities to build up new products or services (J. Sloman, 2003). When ‘struggle’ is dynamic, this competition indemnifies that no part of the marketplace left uncharted; no facet of the offer made by manufacturers to customers left untested. The results of this are that values and worth will naturally be down to a competent level of overheads, a range of product contributions will arrive at the marketplace that bouts the heterogeneity of customer requirements and flavours, and the pace of advances will be great (J. Sloman, 2003).
Significantly executives in such marketplaces have only restricted power over their settings (J. Parkin, et. al., 2004). They regularly have to do something when they are not prepared for it; they every so often require doing things rapidly and not competently than they believe that they must be done. The continuous go-getting between competitor organizations in a cutthroat marketplace can occasionally cause some misuse and doubling-up, and the entire thing frequently appeared to produce a somewhat messy thing (J. Parkin, et. al., 2004). Many executives, though intellectually and sensitively dedicated they are to challenge, recognize that they can perform better. For them, the rivalry is not only strenuous, but it is also wearisome. And certainly, earnings are fairly harder to make in such marketplaces than they are in monopolistic marketplaces (K.A. Crystal and R.G. Lipsey, 2004). For example, a most prominent case of Tesco who monopolizes the retail market in the UK, in spite of having an obvious monopoly with 30% of the marketplace (a monopoly is defined normally as above 25%), its growth has gone unchecked by Competition Commission. The profits of 2bn have been at the outlay of farmers and other contractors who have had to tackle deteriorating prices, and small stores losing their local marketplace shares. Tesco is now the largest retailer with more than 2,300 stores globally. That could simply wash out some corporations' earnings, which consecutively could have grave effects for their share value, and might even make them defenceless to the take-over.  ...Download file to see next pagesRead More
Cite this document
  • APA
  • MLA
  • CHICAGO
(The Benefits from Competition - Some Illustrative UK Cases Case Study, n.d.)
The Benefits from Competition - Some Illustrative UK Cases Case Study. Retrieved from https://studentshare.org/macro-microeconomics/1515474-economonics-competition-policy-in-the-uk
(The Benefits from Competition - Some Illustrative UK Cases Case Study)
The Benefits from Competition - Some Illustrative UK Cases Case Study. https://studentshare.org/macro-microeconomics/1515474-economonics-competition-policy-in-the-uk.
“The Benefits from Competition - Some Illustrative UK Cases Case Study”, n.d. https://studentshare.org/macro-microeconomics/1515474-economonics-competition-policy-in-the-uk.
  • Cited: 0 times
Comments (0)
Click to create a comment or rate a document

CHECK THESE SAMPLES OF The Benefits from Competition - Some Illustrative UK Cases

Marketing Communictions Strategies of the Col Drinks in the UK

Unfortunаtely for smаll soft drink compаnies such аs the Double- Colа Co., the prize of less thаn one percent mаrket shаre is won only by fighting а dаily bаttle for survivаl, especiаlly аgаinst industry giаnts Cocа- Colа аnd Pepsi- Colа.

The following investigаtion is а cаse study of the successes аnd fаilures of one smаll compаny in the soft drink wаrs. It is а testаment to the meаning of brаnds аnd the lengths thаt loyаl consumers go to keep Double- Colа аs their fаvorite beverаge. Аnd it is аn evаluаtion of how аdequаtely the current regulаtory environment serves the needs of these consumers аs well аs Double-Colаs owners аnd bottlers. It аddresses criticisms thаt the regulаtory environment permits аn uneven plаying...
19 Pages(4750 words)Case Study

The Trade Union Movement in the UK

Before the ERA 1999, union membership and recognition in the UK were characterized by voluntarism, in which employers and employees could bargain over the terms and conditions of employment without any legal interference. With the statutory system ushered in by the new law, voluntary recognition of unions is no longer allowed and it becomes unlawful for British employers to deny recognition to unions under any circumstances. That conveys the impression that ERA created a radical change in British industrial relations. This paper takes the contrary view, however, and proposes that while the new industrial relations law looks revolutionary in principle, there are no fundamental changes in actuality for the change to qualify as &ldqu...
8 Pages(2000 words)Case Study

Credit Crunch in the UK

To sell more profitable subprime mortgages, mortgage companies bundled the debt into consolidation packages and sold the debt on to other finance companies. In other words, mortgage companies borrowed to be able to lend mortgages. For example, the lending was not financed out of saving accounts (Mortgage Guide).

These mortgage debts were bought by financial intermediaries. The idea was to spread the risk, but, actually, it just spread the problem. Usually, subprime mortgages would have a high-risk assessment rating. But, when the mortgage bundles got passed onto other lenders, rating agencies gave these risky subprime mortgages a low risk rating. Therefore, the financial system denied the extent of risk in their balance...
8 Pages(2000 words)Case Study

Potential Benefits of International Trade

Conditions set for international trade have also changed in various nations. Today, interdependent is evident due to various global distributions. Examples are; transportation systems, the internet as well as satellite communication systems.
The establishment of WTO (World Trade Organisation) promoting equity in nations’ status, the international monetary Fund (IMF) besides the World Bank, has made stronger the anchorage of international trade. These organisations aid in reducing the trade barriers across boundaries. Nelson (2000). This is a study set out to make a comprehensive and vivid answer to the question, “Which are the benefits of international trade and why are trade restrictions imposed by countries?&rdq...
6 Pages(1500 words)Coursework

The Benefits Given By the Landlord and Tenant Act 1954

Section 22 of the Landlord and Tenant (Covenants) Act 1995 inserts new provisions into the 1927 Landlord and Tenant Act and provide that “after subsection (1) of the 1927 Landlord and Tenant Act 1927 (provisions as to covenants not to assign etc. without licence or landlord’s consent) there shall be inserted –

Accordingly, in order to challenge CPD’s position, Charlotte would have to establish that their consent has been unreasonably withheld and that the circumstances pertaining to CPD’s reasons for refusal must not be in existence as an express condition of the lease2.

Moreover, in the leading case of Ashworth Frazer Limited v Gloucester City Council3, the House of Lords held t...
10 Pages(2500 words)Assignment

Health Benefits of Meditation

The techniques of yoga have been demonstrated to be effective in maintaining a healthy balance between the body and the mind. As such, yoga corrects any defects in the human body (Javnbakht, Kenari and Ghasemi 102).

There are four types of yoga, namely Bhakti yoga, Karma Yoga, Gyana yoga, and Ashtanga yoga. However, all these varieties of yoga aim to provide individuals with the ability to manage and develop the health of the body and the mind. Yoga diminishes stress and its associated disorders. Several studies in this area, have suggested that yoga is an efficient system to address stress-related disorders (Javnbakht, Kenari and Ghasemi 102).

The practice of Asanas has an interrelated effect on the various...
10 Pages(2500 words)Thesis

UK Employment Policy

Analysts explain that this situation is not simply because citizens don’t want to exercise this fundamental right, but largely because of the continued failure of the governments to institute an effective implementation of employment policies put in place (Howell, 2005). It has clearly been demonstrated by Mathew (2006) that the United Kingdom government has shown a lot of unwillingness in tackling the reported unemployment crisis.

Available research findings reveal that there are high unemployment rates among UK born ethnic minorities which show great diversities. According to a 2001 report, it is shown that unemployment rates amongst UK born men and women from black, Bangladeshi and Pakistani ethnic groups were...
9 Pages(2250 words)Case Study

Contrast of Two Explanations of Social Disorder in Contemporary UK Society

As the process of urbanization takes off and more people start residing in major cities, the fissures start to appear within the apparent harmonious co-existence. There are several reasons why disorderly conduct on part of individuals and groups takes place. Sociologists have proposed numerous theories explaining this phenomenon.

Erving Goffman was an astute observer of society, who immersed himself in the social environment which he was studying. He carefully observed and recorded the ways in which people’s behavior and interpersonal interactions are carried out in everyday life. He notes that “people perform their social roles and, as they do so, they produce social order through their actions and the regu...
6 Pages(1500 words)Article

The Key Macro Factors that Have Influenced the UK Grocery Retailing Industry since the Early 1960s

Johnson et al highlight that external macro-economic factors intrinsically impact strategy management and without accounting for macroeconomic factors in strategy development and management, a business will fail (Johnson et al, 2008, p.3). If we consider this contextually with regard to the UK grocery market; the move demise of the local high street store to the dominance of supermarkets in the past 20 years has radically transformed the grocery market ( Henry, 2008, p.77). For example, the DEFRA Economic Note on UK Grocery Retailing (2006) indicates that in addition to continued growth in the UK Grocery Retail sector; approximately “3/4 sales are made in supermarkets and superstores… with traditional small retailers...
13 Pages(3250 words)Assignment

Analysis of Employement Law Cases

For instance, Section 82(1) of the Sex Discrimination Act 1975 provides statutory protection to workers who are working under a contract personally to execute any work or labor. It also covers self-employed people2.

Other statutes, such as the Working Time Regulations 19983 and the National Minimum Wages Act 19984, are appliable to workers, in addition to employees5. Hence, all these rights and protections are available to Fred, even if he were to be deemed a self-employed person.

Some of the more important rights bestowed upon employees by the employment law are the right to claim wrongful or unfair dismissal and payment for redundancy. Other legislation, such as the health and safety statute and the insolve...
7 Pages(1750 words)Case Study
sponsored ads
We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.

Let us find you another Case Study on topic The Benefits from Competition - Some Illustrative UK Cases for FREE!

Contact Us