ECO 365 Week 5 Learning Team Reflection Paper - Global Competition

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Discuss this week’s objectives with your team. Include the topics you feel comfortable with, any topics you struggled with, and how the topics relate to your field.

Prepare a 350- to 1,050- word paper detailing the findings of your discussion.

Learning Team Weekly Reflection

There were many objectives in week five that related to each of the team member’s personal experiences within our field. Global competition is an everyday occurrence that every corporation must live with and determine different strategies to maximize profits both short-term and long-term. According to Currie, M. (2013) “No product exists as an island unto itself, especially in the area of pricing. Competitors’ pricing within a category has direct impact on each other’s pricing. Pricing wars, price-matching and undercutting are all tactics that a competitor might employ to get an advantage or upset the competition’s strategy.” Global competition also has an impact on both management and labor that must be considered when trying to maximize the corporations’ ability to compete on an international level.
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