Hi! can you help me with these two essays please. I need to get a full mark in managerial economic class. Thanks
ESSAY 1: (900-1000 words- NO QUOTES): Header: BUSINESS STRATEGY: FOCUS: COSTS, FIRM AND MARKET STRUCTURE(a) Sub-HEADER: SUSTAINABLE DOMINANCE: Review “All Strategy is Local” and Discuss the Varieties of Competitive Advantage with a focus on Sustainable Competitive Advantageand Sustainable Dominance, as illustrated in the retail sector by Wal-Mart.
(b) Sub-HEADER: MARKET POWER in RETAIL: Now read “Amazon vs. Wal-Mart” and discuss the reasons behind Amazon’s rise.
(c) Sub-HEADER: OPINION: Finally, at the end of the essay, discuss what YOU THINK OF THE POSSIBILITY of maintaining sustainable dominance in the future retail markets.
ESSAY 2: (1000-1100 words): Header: MANAGERIAL DECISION MAKING: FOCUS ON RISK AND RATIONALITY: (a) Sub-HEADER: CHOICE and RATIONALITY: The behavioral economist Robert Frank speaks of the bounded nature of rationality in his 2008 interview (Challenge 2008) and discusses the axiom of the independence of irrelevant alternatives in rational choice theory.
Using the examples he uses, discuss this topic in your own words.
(b) Sub-HEADER: PROBABILITY and RISK:Discuss Daniel Kahneman’s Mckinsey interview, and the message he delivers in regards to the risk involved in using inside information (one of the persistent problems in decision theory – with numerous recent examples, including the Financial Crash of 2008).
(c) Sub-HEADER: OPINION: What do you think of the property of transitivity in choice theory (Chapter 5) and methodologies of risk assessment (Chapter 15) in the context of these readings. How can we improve the ways we assess risk, or think about choices we make?
Textbook link: https://the-eye.eu/public/Books/Materials%20science%20and%20engineering/G401%20Managerial%20economics%20and%20management/Christopher%20Thomas%2C%20S.%20Charles%20Maurice%20Managerial%20Economics.pdf