Assignment:
Research the Michelin tire company identify some of the managerial decisions that were made over time and in response to changes in its market or competitive environment. Use Ashford University Online library and web-based resources for your research. At least 3 external resources should be used. Address all of the following areas:
• Describe the company and provide a brief history of its operations. Find or use graphs to illustrate its financial performance over the years.
• Identify any sources of risk or uncertainty in its operations. Do the financial reports indicate risky or uncertain activities or changes to the economic environment that ultimately appear to have affected the company's financial outcomes? Be specific.
• Are there any government regulations that have affected this company's operations domestically or abroad? Explain.
• Describe the inputs that are used in this company's production function and identify any challenges to securing these inputs.
• Determine if the company has introduced new products in existing markets or created new markets over time. What is the impact on its finances?
• Determine if the price of its products increased or declined over time and analyze the reasons for price fluctuations. Study the demand elasticity for its products and discuss the availability of close substitutes for its products. How does that affect pricing decisions?
• Analyze the company's profitability. Identify the economy or industry influences on its costs, operations, and profitability.
• Describe the competitive environment in which the firm operates, the distribution of market power, and the strategic behavior of the firm and its competitors. Apply your knowledge of the theory of this company's market structure. How does the company make pricing and production decisions? Is your observation supported by the theoretical models? Refer to the financial reports for illustration.
• Identify any non-price competitive strategies that the company might be engaging in? Provide specific examples.
• Evaluate if the company made any mistakes in its decisions over time, and recommend any changes or improvements for the future operations. Refer to the financial reports when making specific observations or recommendations.
• Use economic language and demonstrate your understanding of the concepts and theories of this course.
The Final Paper:
1. Should be 8 to 10 double-spaced pages in length,
3. Should begin with an introductory paragraph that has a succinct thesis statement.
4. Should address the topic of the paper with critical thought.
5. Should end with a conclusion that reaffirms your thesis.
6. Should use at least 3 scholarly sources.
8. Should include a separate reference page