PPT-Firm Behavior in the NYC Restaurant Market

Kathryn Sanner PPPA 6017 November 8 2016 Summary New York Times article Is New York Too Expensive for Restaurateurs We Do the Math The article tested the hypothesis that it is more expensive for an independently owned restaurant to operate and stay afloat in New York City. MICROECONOMICS. Principles and Analysis. . Frank Cowell . Almost essential . Firm: Demand and Supply. Prerequisites. July 2015. 1. Note: the detail in slides marked “ * ” can only be seen if you run the slideshow. STRATEGY FORMULATION. CHAPTER 7. ACQUISITION AND RESTRUCTURING STRATEGIES. THE STRATEGIC MANAGEMENT PROCESS. . . . . KNOWLEDGE OBJECTIVES. . . KNOWLEDGE OBJECTIVES. TECHNOLOGY GIANTS’ ACQUISITION STRATEGIES AND THEIR OUTCOMES. Chapter . 3. Copyright © 2010 by John Wiley & Sons, Inc. All Rights Reserved. THE RESTAURANT BUSINESS. The word “restaurant” covers a broad range of types of operations. The term “food service” is even more far reaching and will be more clearly defined in later chapters. Asif. . Shakur. and . Shekar. . Shetty. Salisbury University. Salisbury, Maryland, USA. Motivation and Objectives. We have uncovered abundant evidence of woefully imperfect markets. Semiconductor Integrated Circuit (IC) market is one example. Asif. . Shakur. ,. . Shekar. . Shetty. , . Arvi. . Arunachalam. Salisbury University, MD. Motivation and Objectives. Interesting evidence of woefully imperfect markets. Semiconductor Integrated Circuit (IC) market is one example. Competition. U. nit Overview. Assumptions. of the Perfectly Competitive Model. Large. number of sellers. Homogeneous product. No entry barriers. Perfect information. Profit Maximization in the Short-run. A2 Business Studies. Aims and Objectives. Aim:. Understand how to analyse market data.. Objectives:. Explain market trends.. Analyse market conditions.. Evaluate reasons for market structures changing.. STRATEGY FORMULATION. CHAPTER 7. ACQUISITION AND RESTRUCTURING STRATEGIES. THE STRATEGIC MANAGEMENT PROCESS. . . . . KNOWLEDGE OBJECTIVES. . . KNOWLEDGE OBJECTIVES. TECHNOLOGY GIANTS’ ACQUISITION STRATEGIES AND THEIR OUTCOMES. different from another?. Restaurant Concepts. The concept of a restaurant distinguishes it from another.. A restaurant concept is the whole idea of the restaurant or restaurant chain.. It includes theme, target market, location, décor, ambiance, and service style. Market structure – identifies how a market . is made up in terms of:. The number of firms in the industry. The nature of the product produced. The degree of monopoly power each firm has. The degree to which the firm can influence price. Class 4. Market Structures. A market is an arrangement which links buyers and sellers. . Ebay. Local fish market. A ticket counter at rugby match. Amazon. Stock market. The term market structures refers to certain market characteristics. . ©2011 John M. Abowd and Jennifer P. Wissink, all rights reserved.. What Is A Firm?. Broadly: A firm is an organization producing goods or services, also called a business.. Examples of common businesses: . Dr. Victor Z. Chen (. WWW.CHENZITIAN.COM. ) . UNC Charlotte. Course website: http://www.chenzitian.net/teaching/MGMT3275/. Overall Structure. 1/16: MNEs and their governance structures. 1/23: MNE competitive advantages. Market. In economics, market means a social system through which the sellers and purchasers of a commodity or a service (or a group of commodities and services) can interact with each other.. • They can participate in sale and purchase. • Market does not refer to a particular place or location..