How To Deal With Bad Monopoly In The Market?

[Good-Guy]

Running or managing a business is not at all easy and there are various reasons for that. One of the biggest reason why running a business is not easy is that many businessmen have a really hard time selling their products to the customers. I believe that if there are no sales, there is no business and any business that has no success selling products should prepare itself to file for bankruptcy. However, sales are not the only issue a company might face. There could be other issues as well such as management issue, financial system-related issues, and some other administration issues that could also lead a company to various problems.

One of the biggest issues many big and small retailers face is a lack of supply from the manufacturer. This leads to frustration in the market. In a monopolistic market, there are many retailers who depends on a couple of suppliers and these suppliers or manufacturers set their own prices for their products. While it makes sense that each and every manufacturer has the right to set their own prices, the problem arises when these manufacturers set higher prices and reduce the supply of the product. This leads to shortage of the product and high prices just make things worst for both the customers and the retailers as well. How do deal with this condition?

 

[Kingsley]

When we say bad monopoly well it is indeed deep because monopoly as we all know is already a selfish kind of market in the types of market that we have. Monopoly is a type of market where we have only one seller and so many buyers. Technically when we examine this type of market closely we will realise that it is selfish in nature and those that wants to operate in this type of market are struggling to be without competitors, thry want to make all the profit for themselves and thry don't want others to come into the market. But in practical terms this is very difficult because it will be hard for anyone to want to claim to ten the only one to have the rights or privilege to deal in the market, although it is possible but not entirely. It only happen when the business operating in this type of market is operating at the shortrun, but as time advances people will begin to look for ways of coming into that kind of business even the monopolistic masters are into eveb if the operators in the monopolistic market are doing it under some rights other potiential investors may take the risk of doing the business illegally.

 

[Dora Wi]

In most Western countries there are antitrust laws and investigations to try and make sure that companies don't violate the rules of healthy competition on the market, but of course they are not almighty. It's a real issue and can make the life of small businesses very hard. It's an issue in all kinds of political and economic environments.

 

[Mataracy]

Monopoly market system is a way through which a company dominated the market and there is no competitors .
Monopolistic system do not usually give more space for other business to over throw them.
It is usually a method where their goods may not have any close substitute in order yo compete with them at all.
Therefore; the company some time used to be proud and may not supply to the market without considering how people in the market will fill about it which can lead to hardship for many marketers or business men in the markets.
If this company refuse to supply that means there is no other company that can supply them .

 

[Alexandoy]

The most popular monopolies here are the manufacturer of San Miguel Beer and PLDT which is the provider of the telephone system. In my younger days when you say beer it is San Miguel because that is the only beer in the Philippines. There was one rich guy who made a start up to fight San Miguel. That was when Halili Beer was born. But San Miguel bought Halili Beer, lot, stock and barrel, so to speak. The owner of Halili Beer had no choice but to sell at a big profit instead of competing with the giant.

In the olden days the telephone is very limited like there are only 100 phones in one town in Metro Manila. The company PLDT said that they didn't have the structure to afford many phone connections. Sometime in the 1990 there was the Globe which company posed as a competitor of PLDT. What happened was PLDT had a sudden expansion. In our home we were offered 3 phone lines (one for me, one for my brother and one for my sister). That was crazy but it was true. PLDT got scared with the competition and it realized that it had lost the monopoly so they had to do the expansion of the facilities.

 

[Jasz]

Monopolies are basically known as economic market conditions where a single firm is able to influence and control the price of a particular product or service in the market. It is one of the worst situations for business as it negatively impacts the consumers/ buyers who have limited options to choose from.





It can also be said to be a single firm or enterprise that is the only seller of a particular product and faces no competition from other sellers. Bad monopolies occur when the government grants an inefficient firm a legal monopoly without considering potential harm to society.


Monopoly plays an important role in market economy. On the one hand, monopoly can promote the progress of innovations and technological revolution. But , monopoly can restrict competition, which may lead to high prices, unnecessary costs, corruption and unethical business practices.


I feel the government has a great role to play in order to curb this. If the government is as good as having citizens welfare at heart, the government can make policies that will cover the citizen from any form of monopoly. Just like Dangote Cement in Nigeria, once it goes up we have no choice than to buy because it's kinda monopolized and the government is not bothered about

 

[btaliat]

It may be difficult in theory to deal with a monopolistic market. There is tendency of cheating and even all forms of ill treatment in a monopolistic market. This is because it is only one seller who has many customers to sell to.

There best way to solve this kind of situation is to dind alternative market or goods to the goods supplied. This will intentionally reduce the monopolistic nature of the market.

Government should also make sure there is functional consumer protective who will protecting the interest of the consumers in case there is maltreatment from the wholesalers

 

[Sotherefore]

Sometimes it might really be difficult because Monopoly in business organisation really means that it is only a particular company that have the mandate to produce a particular product , well in this case you might not really know of the best thing to do and even if there is possible solution to this it will require a huge amount of money and sometimes the competition will be so huge that much smaller business won't really be able to succeed .

I believe When there is Monopoly in a particular business organisation it is the business that is likely the most recognised by people .

Any other organizations who are establishing the same business won't really be appreciated by the masses because most people will always like to patronize the one that is well established and is the one with the Monopoly.

Maybe the best way you could really settle this problem is to really partner with them , they might be any position to set you up to to belong to them because as long as you are ready to partner with them the freedom to produce the same product under their control is really possible. I think that is what most people are now doing