HND Business Human resource management - 5390 Words

Difference between Human Resources and Personnel management (1.1) Personnel Management Personnel Management is essentially an administrative record-keeping function, at the ground level. Personnel Management professionally manages employee’s activities for individual departments for example in Bhs you will have a personal manger for customer services. It is assumed that the outcomes from providing justice and achieving efficiency in the management of personnel activities will result ultimately in achieving organizational success. Human Resource Development – Human resource management is concerned with the Training, promotion development and implementation of people strategies, which are incorporated with business†¦show more content†¦Communication Restricted flow Increased flow 20. Job Design Division of Labour Teamwork AC1.2 The Role of Human Resource Management in Organizations Managers in the Human Resources profession have the essential job of organizing people so that they can effectively perform their job description. Human resources professionals work together to develop employees skills. For example, HR professionals advise managers and supervisors how to assign employees to different roles in the organization, thereby helping the organization adapt successfully to its environment. In a flexible organization, employees are shifted around to different business functions based on business priorities and employee preferences. Human resources professionals also suggest strategies for increasing employee commitment to the organization. This begins with using the recruiting process or matching employees with the right positions according to their qualifications. Human resources management team helps a business develop a competitive advantage, which involves building the ability of the company so it can offer a unique set of goods or services to its customers. They can do this by hiring the right individuals but it’s not just about hiring talent; it is about keeping people and helping them grow and stay committed over the long term. The Human resources team has to identify needs of the employees regarding career goals and workShow MoreRelatedHnd Subject in Nvq 51376 Words   |  6 Pages------------------------------------------------- HND in Business Awarding Body: Edexcel Level: Qcf Level-5 Course Description This course is designed to equip students with the knowledge, understanding and skills required for success in current and future employment or for progression to an undergraduate degree. It aims to provide an educational foundation for a range of administrative and management careers in business, specialised studies directly relevant to individual vocations and professionsRead MoreCareer Management : Skills And Skills1482 Words   |  6 PagesHow I’m doing Action Career management skills Taking on management course to enhance and develop my management/leadership capacities and skills. I have picked the field of studies I need to build up my career in as an establishment and I have additionally embraced self-managed learning exercises in business. So far I have successfully passed my management units during my HNC and HND course. 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Then finally, addressing and analysing a real life case study and relating it to the theories learned. PART A-REPORT AND ACTION PLAN: 1.1 (P1) Management theories are an assortment of ideas and rules which aims to present how a business or organization should be managed. ThereforeRead MoreEssay about Tourism and Tourist Destinations1176 Words   |  5 PagesHND Hospitality Management | Unit number and title | Unit 9: Tourist Destinations | Qualification | HND Hospitality Management | Start date | | Deadline | | Assessor | | | | LO1 Understand the scope of key UK and worldwide tourist destinationsLO2 Understand the cultural, social and physical features of tourist destinationsLO3 Understand how the characteristics of destinations affect theirappeal to touristsLO4 Understand issues likely to affect the popularity of tourist destinationsRead MoreHuman Resource Management For Service Industries1675 Words   |  7 PagesLondon College UCK BTEC HND Diploma in Human Resource Management for Service Industries HNHM 109/ HNTT 118:Human Resource Management for Service Industries Analyze the role and purpose of human resource management in a selected service industry. Justify a human resources plan based on an analysis of supply and demand for a selected service industry business Submitted by: Name: Mary Ann Streling Read MoreFree Essay3489 Words   |  14 Pagesbegan from the simple work is keep something for the people whose possession to avoid losing it. On the contrary, the customer must pay money for that service. When this works take the benefits for all of people (keeper and sender). Gradually, the human send the various things such as money, gold†¦ Nowadays, Vietnam is still developing country and the government is always support, improve, develop economy system. 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Film Analysis Beautiful Me - 1152 Words

Laquasha Nettles English 101 Prof. Manley December 8, 2016 â€Å"Beautiful Me† We live in a society where the media control us by using television, the Internet, radio, magazines, and even celebrities to shaped our views on what is considered beautiful. By creating advertisements with unrealistic images of beauty and use of plastic surgery, cosmetics, photoshop, and name brand items the media purposely targets our youth. Selling its idealisms to teenagers and young adults who struggle with low self-esteem, low self- confidence, and depression thus taking advantage of his or her weakness as a sole purpose to increase profits. The media is constantly sending us conveying messages that if you don’t have this and don’t look like this or act like that no one will accept you. The media trying to normalize reprehensible standards and have us aiming for fanciful perfection. Not all of us look like Barbie or Ken, not all of us live in a big mansion or drive an expensive car (although I would like to), and not all of us live in l uxury like others who has that opportunity. For these things, don’t define the value of our self-worth. Most of us tried to fit into society s deception of beauty instead I believe we should spend more time getting to know ourselves. For generation after generation women would do anything to be considered or told that she is beautiful. Women who are different ages, color, shapes, and sizes are not meant to be the same. However, the way advertisement promotesShow MoreRelatedArticle Analysis : Killing Us Softly1423 Words   |  6 PagesKilling Us Softly, a short film produced by Cambridge Documentary Films, graphically and effectively depicts the harm caused by modern day media and advertisements. 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Business Relation in Japan-Free-Samples for Students-Myassignment

Question: You are to prepare a formal analytical essay of strictly no more than 1500 words on Japanese business etiquette and steps that Emily can use to make a favourable first impression when she visits Japan to meet with Mr. Hamasaki. Answer: Introduction In contemporary world, there are several codes of conduct and behavioral patterns which are accepted to be appropriate. These conventions are even more important in the social and professional domains of the individuals and are often collectively known as Etiquette. Having its origin from the French term tiquette, which means label, the word in broad sense refers to maintenance of an overall decent behavior in the social and professional domains[1]. This is especially important in the professional sphere as the etiquette of an individual in his workplace, have immense implications (positive as well as negative) on the career and professional progress of the individual. This is mainly because people have a tendency to judge the credibility and professional attitudes of individuals by observing various attributes of the same, of which etiquette is one of the primary ones[2]. Considering this, the essay tries to analyze the etiquettes prevailing in general in Japan, taking into account the countries rich cultural and social patterns. The essay also tries to highlight the aspects in this regard, which may be observed and incorporated by the foreign entrepreneurs, who are trying to venture in the markets of Japan. To study the same, the essay takes into account the case of Emily, who being an Australian and owning The Aromatic Condiment Shop, flies to Japan to meet a Japanese potential client, with the objective of expanding her business. The essay also tries to highlight the code of conduct, which she can incorporate to create a positive impression on her potential Japanese client[3]. Japan: Economy and Culture Japan, has over the years emerged as one of the global economic giant in the contemporary international scenario and is currently the fourth largest of the economies in the world, with the per capita GNP of the country being more than $45,000. The country has achieved immense success in technological aspects and with years the country has emerged as one of the most lucrative economies for the investors, both domestic as well as international, to venture and expand their businesses[4]. However, despite of progressing hugely in the economic and industrial aspects, Japan is also known for their immensely deep-rooted cultural heritage, which have been maintained and preserved through generations. Japanese people diligently preserve and practice the strict etiquettes and behavioral pattern, in their social as well as professional domain[5]. Keeping this in consideration, if Emily wants to venture in the markets of Japan, to expand her business prospects, then in order to be successful in her endeavor, Emily needs to emphasize on incorporation of the professional etiquettes of the country. This may help her create a positive impression in the first meeting with Mr. Hamasaki, who is a senior single Japanese businessperson and the store manager of the popular Japanese store with which Emily wants to collaborate. Professional Etiquettes in Japan Professional etiquettes though may apparently appear to be trivial or insignificant, holds immense significance in creating professional impressions about a person in Japan, especially when the person is a Non-Asian and it is his or her first meeting with a Japanese. This is because there are huge cross-cultural differences and variations in professional etiquettes in these two regions, which may affect the business deals indirectly. The aspects in this regard, which have to be emphasized upon are as follows: First impression- The first impression of a person, in any kind of communication, is of utmost importance as it does the work of image building of a person, if not at least the last. Moreover, in Japan, this is of utmost importance as Japan has a strict framework of etiquettes especially in formal communications. In Japan, while addressing people, usage of Mr. or Mrs. is absolutely mandatory which has to be followed by surnames. It is not recommended to use first names to address someone in very first meeting. Meishi or business cards and the ways in which they are given and received play significant role in initiation business communications[6]. Conversations- The most significant part of a meeting in Japan, where etiquettes are of utmost importance, are the conversations. In Japan, silence is preferred over loud talks as Japanese people treats silence and composed behavior as a sign of intelligence, wisdom and self-control. This aspect of behavior in Japan is strikingly different than those in the Non-Asian countries, where being outgoing in the professional domain is treated as a sign of smartness. Japanese people also respect individual privacy to such an extent that they also have the right to remove their names from phone books according to their will. Thus, Emily should also be careful to refrain from asking personal questions to Mr. Hamasaki as this may be treated as a rude gesture on her part. Etiquettes with aged person- Japanese people link age with wisdom and seniority and thus, in Japan, an aged person is shown more respect and his words are heard more sincerely than the younger people are. Emily has to keep this in mind, while meeting Mr. Hamasaki and she needs to greet him cordially and treat him with utmost respect. The business card should also be offered to him first before offering to the younger people[7]. Exchange of token of appreciations or gifts- Japan has an age-old tradition of exchanging gifts, especially in the first meeting, which they also maintain in their professional domain. This symbolizes acceptance and helps in building up of professional rapport. However, while gifting anything to Mr. Hamasaki, few things should be avoided, which includes potted plants, white flowers (as they symbolizes death) or four or nines set of any commodity (as these numbers are deemed to be unlucky in Japanese culture)[8]. Community Feeling- One of the most unique and impressive features in the culture of Japan is the feeling of solidarity and their preference of community welfare over individual betterment. Japans age-old culture and history have taught them to work together and achieve collective goals of maximizing social welfare as a whole. This is even reflected in their professional etiquettes as they prefer team recognition and appreciation to individual accolades and practice the former in their business etiquettes. Business Proposal Approach- Japanese people prefer the persuasive and gentle business approach highly over direct approach, unlike the Non-Asian countries. Keeping this in mind, Emily should focus on the virtue of her business and the quality of the products she proposes to sell. Her products being mainly condiments, she should highlight the absence of preservatives in them and the usage of organic materials only, as Japanese people tend to value the virtues and welfare aspects of business immensely. She can also use supplements of her products as they may prove to be beneficial in building up professional relationships. She should also give time to her potential clients to take decisions, as Japanese people tend to avoid rushing into decisions[9]. Dress Code- One of the primary aspects of business etiquettes in Japan is the maintenance of proper dress code. For this purpose, it may be beneficial for Emily to choose conservative and formal attires over accessory loaded flashy colors. In Japan, high heels are not appreciated as they make females look taller than their male colleagues do. Emily can also try a kimono, the traditional dress in the country, as that can be seen as a warm gesture on her part[10]. Dining- Professional dining in Japan is an area of strict etiquettes. If invited to a dinner, Emily should preferably accept the same as rejection signifies rudeness. O-shibori (wet towel) offered has to be used only for wiping hands and while using chopsticks, proper etiquettes should also be maintained and after eating, those should be kept back in the envelopes or holders. Emily can even offer to pour drink for Mr. Hamasaki first. Cultural Miscommunication: Hofestedes Framework The cultural miscommunications between Japan and Non-Asian countries (Australia in this case), which can be faced by Emily in building up business relations can be explained with the help of the Hofestedes Framework: Masculinity versus Femininity- The culture of Japan is highly inclined to masculinity as the same is treated to be similar to success and galore. The culture of Australia is however gender unbiased in this dimension. Individualism versus Collectivism- Japan ranks high in collectivism as discussed above while Australians focus more on individual achievements, thereby ranking high in individualism[11]. Large and Small Power Distance- The power distance in Japan is pretty high as there exists a predominant hierarchical structure in the country unlike that of Australia, where the power distance is small[12]. Indulgence versus Restraint- Japanese people tends to respect restraint more than indulgence, which in turn is more common in the culture of Australia. Conclusion As is evident from the above discussion, for building successful business relation in Japan, Emily needs to put considerable emphasis on the professional etiquettes that are practiced in the country. Maintaining a calm, polite and restrained attitude and showing ample respect to Mr. Hamasaki, along with incorporation of Japanese professional and behavioral etiquettes can help Emily in making an extremely positive impression on her client, which may help her in the long run, in expanding her business possibilities in Japan, which may contribute in success of her future endeavors. References Aismar.net,Excuse Us, Your Manners Are Missing! The Role Of Business Etiquette In TodayS Era Of Cross- Cultural Communication(2017) Aismar.net https://www.aismar.net/UploadLinkPageimages/TBRV2N1June2014.pdf#page=27 Americanexpress.com,Doing Business In Japan: 10 Etiquette Rules You Should Know(2017) OPEN Forum https://www.americanexpress.com/us/small-business/openforum/articles/doing-business-in-japan-10-etiquette-rules-you-should-know/ Baylor-ir.tdl.org,Employee-Employer Relations In Japan: An Analysis Of Honor-Shame And Authority-Power Relations Within The Modern Japanese Workplace(2017) Baylor-ir.tdl.org https://baylor-ir.tdl.org/baylor-ir/bitstream/handle/2104/8888/Cole_Short_HonorsThesis.pdf?sequence=1 Books.google.co.in,Business Communication Today(2017) Google Books https://books.google.co.in/books?hl=enlr=id=_xAwDwAAQBAJoi=fndpg=PP2dq=business+etiquetteots=7qdQ97hPTvsig=hDkB42uHImG3Zle3rWRspTALuKo#v=onepageq=business%20etiquettef=false Brage.bibsys.no,Hofstede Revisited: Is Making The Ecological Fallacy When Using HofstedeS Instrument On Individual Behavior Really Unavoidable?(2017) Brage.bibsys.no https://brage.bibsys.no/xmlui/bitstream/handle/11250/93582/Grenness_IJBM_2012.pdf?sequence=1 Japan-guide.com,Japanese Table Manners(2017) Japan-guide.com https://www.japan-guide.com/e/e2005.html Rep.polessu.by,EXCHANGING BUSINESS CARDS AS A MAIN ELEMENT OF BUSINESS MEETING(2017) Rep.polessu.by https://rep.polessu.by/bitstream/123456789/2603/1/91.pdf S3.amazonaws.com,A Critique Of HofstedeS Fifth National Culture Dimension(2017) S3.amazonaws.com https://s3.amazonaws.com/academia.edu.documents/2536994/Fang__2003___A_Critique_of_Hofstede__IJCCM_2003.pdf?AWSAccessKeyId=AKIAIWOWYYGZ2Y53UL3AExpires=1511243657Signature=%2BaPIdx5Q5NSr%2Bh47BsSwSXC95nA%3Dresponse-content-disposition=inline%3B%20filename%3DFang_2003_._A_critique_of_Hofstede_s_fif.pdf S3.amazonaws.com,Formal Forms Or Verbal Strategies? Politeness Theory And Japanese Business Etiquette Training(2017) S3.amazonaws.com https://s3.amazonaws.com/academia.edu.documents/38475420/Dunn2011.pdf?AWSAccessKeyId=AKIAIWOWYYGZ2Y53UL3AExpires=1511236201Signature=fHn8neC0HpTmnCGJvmnhTyFyQfU%3Dresponse-content-disposition=inline%3B%20filename%3DFormal_Forms_or_Verbal_Strategies_Polite.pdf Scholarworks.uni.edu,Speaking Politely, Kindly, And Beautifully: Ideologies Of Politeness In Japanese Business Etiquette Training(2017) Scholarworks.uni.edu https://scholarworks.uni.edu/cgi/viewcontent.cgi?article=1000context=sac_facpub Unpan1.un.org,Cities And Growth: Theory And Evidence From France And Japan(2017) Unpan1.un.org https://unpan1.un.org/intradoc/groups/public/documents/APCITY/UNPAN014315.pdf Venturejapan.com,Secrets Of Japanese Business Etiquette Venture Japan(2017) Doing business in Japan https://www.venturejapan.com/business-in-japan/doing-business-in-japan/secrets-of-japanese-business-etiquette Books.google.co.in,Business Communication Today(2017) Google Books https://books.google.co.in/books?hl=enlr=id=_xAwDwAAQBAJoi=fndpg=PP2dq=business+etiquetteots=7qdQ97hPTvsig=hDkB42uHImG3Zle3rWRspTALuKo#v=onepageq=business%20etiquettef=false. Aismar.net,Excuse Us, Your Manners Are Missing! The Role Of Business Etiquette In TodayS Era Of Cross- Cultural Communication(2017) Aismar.net https://www.aismar.net/UploadLinkPageimages/TBRV2N1June2014.pdf#page=27. S3.amazonaws.com,Formal Forms Or Verbal Strategies? Politeness Theory And Japanese Business Etiquette Training(2017) S3.amazonaws.com https://s3.amazonaws.com/academia.edu.documents/38475420/Dunn2011.pdf?AWSAccessKeyId=AKIAIWOWYYGZ2Y53UL3AExpires=1511236201Signature=fHn8neC0HpTmnCGJvmnhTyFyQfU%3Dresponse-content-disposition=inline%3B%20filename%3DFormal_Forms_or_Verbal_Strategies_Polite.pdf Unpan1.un.org,Cities And Growth: Theory And Evidence From France And Japan(2017) Unpan1.un.org https://unpan1.un.org/intradoc/groups/public/documents/APCITY/UNPAN014315.pdf Scholarworks.uni.edu,Speaking Politely, Kindly, And Beautifully: Ideologies Of Politeness In Japanese Business Etiquette Training(2017) Scholarworks.uni.edu https://scholarworks.uni.edu/cgi/viewcontent.cgi?article=1000context=sac_facpub. Rep.polessu.by,EXCHANGING BUSINESS CARDS AS A MAIN ELEMENT OF BUSINESS MEETING(2017) Rep.polessu.by https://rep.polessu.by/bitstream/123456789/2603/1/91.pdf. Baylor-ir.tdl.org,Employee-Employer Relations In Japan: An Analysis Of Honor-Shame And Authority-Power Relations Within The Modern Japanese Workplace(2017) Baylor-ir.tdl.org https://baylor-ir.tdl.org/baylor-ir/bitstream/handle/2104/8888/Cole_Short_HonorsThesis.pdf?sequence=1. Americanexpress.com,Doing Business In Japan: 10 Etiquette Rules You Should Know(2017) OPEN Forum https://www.americanexpress.com/us/small-business/openforum/articles/doing-business-in-japan-10-etiquette-rules-you-should-know/. Venturejapan.com,Secrets Of Japanese Business Etiquette Venture Japan(2017) Doing business in Japan https://www.venturejapan.com/business-in-japan/doing-business-in-japan/secrets-of-japanese-business-etiquette/. Japan-guide.com,Japanese Table Manners(2017) Japan-guide.com https://www.japan-guide.com/e/e2005.html. Brage.bibsys.no,Hofstede Revisited: Is Making The Ecological Fallacy When Using HofstedeS Instrument On Individual Behavior Really Unavoidable?(2017) Brage.bibsys.no https://brage.bibsys.no/xmlui/bitstream/handle/11250/93582/Grenness_IJBM_2012.pdf?sequence=1. S3.amazonaws.com,A Critique Of HofstedeS Fifth National Culture Dimension(2017) S3.amazonaws.com https://s3.amazonaws.com/academia.edu.documents/2536994/Fang__2003___A_Critique_of_Hofstede__IJCCM_2003.pdf?AWSAccessKeyId=AKIAIWOWYYGZ2Y53UL3AExpires=1511243657Signature=%2BaPIdx5Q5NSr%2Bh47BsSwSXC95nA%3Dresponse-content-disposition=inline%3B%20filename%3DFang_2003_._A_critique_of_Hofstede_s_fif.pdf.

Market Structures in the Australian Economy- MyAssignmenthelp.com

Question: Discuss about theMarket Structures in the Australian Economy. Answer: Introduction The diversity of the Australian economy is eminently presented in terms of the existing market structures. In the modern day, there are scores of firms that have characteristics of monopoly, duopoly, oligopoly and the monopolistic competition. Beforehand, understanding of the manner in which market structures have been set up in the Australian economy calls for a vital exploration of their existence. So first of all monopoly indicates a market structure that is averse with few a dominant producer who makes all decisions involving the goods and services in the economy. A monopolist is therefore able to make profits both in the long and short run. The service industry in Australia is particularly rife with the presence of monopoly particularly the telecommunication and the banking industries where there are only four dominant firms that control a large proportion of the market. When relatively smaller firms exhibit a huge market dominance visibly indicated by the presence of tough restrictions for the entry and exit of firms in the market then that implies oligopoly. A common distinct feature that oligopolistic firms have is the presence of a kinked demand curve which is indicative of a common price system for the overall achievement of a greater output. On the other hand, monopolistic competition is augmented by the basis of many firms which have differentiated products in terms of sorting, offering after sales services and branding (Leigh Triggs, 2017). In this market structure, there a lot of emphasis on advertising in order to capture a bigger market share. While these market structures are generally important for increasing competition in the industry which ensures that consumers are able to get a better quality and service delivery, it has also raised concern from the government as well as consumer protection societies. This has raised their eyebrows because most of the firms that accentuate these market structures are particularly taking an advantage of their strong market presence to exploit innocent customers. Furthermore, the governments concern is centered on the market alliances which are apparently jeopardizing quality as well as the stability in the market. In the long run, it will likely cause chaos and eventually weaken the economy. Market Structure: Economic Analysis This type of market structure is developed in terms of providing room for only a number of firms which have control in the market. Distinctly, products generally exhibit a high degree of differentiation. This implies that there is a sense of the ability of the firms to establish an edge over others due to a higher chance for collusion agreements (Simshauser, and Whish-Wilson, 2017). In this case, firms will often team up to restructure into a very bigger firm. This then have a bigger market share than the rest of them. Despite this eventuality having a stronger sense of monopoly, it also signifies the oligopolistic competition due to the presence of a lot of these firms even in the event that collusion has taken place (Kitney White, 2013). Within the same scheme, it pays homage to the duopoly. Duopoly is primarily an offshoot of an oligopolistic structure. It is based on a similar structure of its parent structure however much duopoly only has two firms that have a dominant presence in the market. Essentially, there presence is motivated more by the need to compete for a greater output. It therefore means that a decision that is made by one firm has bigger influence on the rest of them and likely to result into a series of similar decisions. This will then have a bigger impact on the manner that the products will be sold in the market as a result. The rest of the firms will follow this move hence making a general impact on the demand and supply of goods and services in the market. The concept of elasticity is well accentuated in this market structure on the producers more than it is felt by the consumers. Key producers in Dulux, Brigdestone and Dunlop have put in mechanisms such that a move by one of them will result into a sequences of the same across the market which eventually affects the demand and supply of the tyres in the industry. The aforementioned firms are chiefly similar by the manner in which they deal with the same products. A key feature is that the aggregate supply and the aggregate demand are established by the undertaking an intensive advertising initiative. This may include a tailor-made branding meant to ignite consumer interest. A monopolist on his/her part is able to ensure a blanket control of the market through determination of prices. That means, maximization of the output can be achieved both in the short and long run. Nonetheless, three key aspects have to remain in play in the quest for such output maximization. They include the Marginal Cost (MC), Marginal Revenue (MR) and the Average Revenue (AR). For output to be maximized, these three have to remain central in the market. For instance, the Average Revenue is represented as the market demand. The relationship of the quantity demanded and the Marginal Revenue is established by the value attached to the MR. for instance, a positive MR shows that there is an increasing revenue with an increase in the quantity demanded while a negative MR alludes to a decreasing revenue with a decreasing quantity demanded. Firms will usually show their intent to produce maximum output in a point where the MR curve equals the MR curve. At this point, Revenue is taken as the function of Output (Daepali, 2016). Monopolistic competition is particularly different of the all the market structures owing to its similar but differentiated products which comes in the form of sorting and branding. The presence of similarity through products that are sold in the market, means that firms engage in scores of activities that such advertising to get an edge in the market. The concept of elasticity plays a key role in creating this competitive edge through sensitivity of products in the market as expressed by consumers (Kollmorgen, 2015). In this regard, consumers will often opt for cheaper products, those that are advertised more as well. The diversity of the Australian economy is particularly reflected in its market share of monopolies. Comparing the top three Australian sectors with the US firms reveals extensively different statistics. The United States has 10%, 26% and 31% in the Liquor industry, Commercial banking and Supermarkets respectively. On the other hand, the Australian economy has 78%, 94% and 91% respectively. The conclusion is that the Australian economy has a very strong monopoly presence than the US economy. A major concern by the Australian government due to the presence of this is that monopolistic competition is likely to forge an increment in the market returns on capital while the downside is that it could also stifle economic growth. Monopolies particularly are deterrent to diversification as well and killing competition. Conclusion In essence, the rife presence of diverse market structures in the Australian market in terms of the monopolies, monopolistic competition, oligopolies and duopolies may not be concluded as a cause of a rise in the inequalities but plays a bigger role. Averting this calls for radical policy implementation. In other words, anti-competitive behavior and consumer rip-offs must be removed in the market. Furthermore, the Australian Competition and Consumer Commission must have a bigger budgetary allocation so that it proceeds with investigations of conduct by unscrupulous business people in a bid to have all them out of the system. It is only through this that healthy competition can be spearheaded. References Kitney, D., White, A. (2013). We are an oligopoly economy: Robb. Australian Business Review. Retrieved from: https://www.theaustralian.com.au/business/companies/we-are-an-oligopoly-economy-robb/news-story/606fcf2f0e789689d39fd40f19b8a1e9 Daepali, P. (2015). Monopoly in a Perfectly Competitive Market. Retrieved from: https://www.economicsdiscussion.net/monopoly/monopoly-in-a-perfectly-competitive-market-with-diagram/16454 Kollmorgen, A. (2016). Squeezing out the competition. Market share Australia. https://www.choice.com.au/shopping/everyday-shopping/supermarkets/articles/market-concentration Simshauser, P. and Whish-Wilson, P. (2017). Price discrimination in Australia's retail electricity markets: An analysis of Victoria Southeast Queensland.Energy Economics,62, pp. 92-103. Leigh, A., Triggs, A. (2017). It's Time To Put Markets Ahead Of Monopolies, Huffington Post. Retrieved from: https://www.huffingtonpost.com.au/andrew-leigh/its-time-to-put-markets-ahead-of-monopolies/