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Microecconomic Concepts in the Garnett Company Essay


An organization is referred to as a collective entity of people, methodically controlled and administered to congregate a want or to follow combined objective on an ongoing basis. All organizations do have a basis of management that give each of the participant a role in the running of the affairs in order to hit the set objectives (Robert, 2006).

In other words an organization can also be termed as a group of persons working together to meet some set goals. They work within a time limit which they set depending on what they want to achieve. However an organization does not necessarily have to be a legal entity.

Before getting started the members must lay down their plan of what they have in mind and then come up with ways of hitting their target (Tribe, 2005). Although an organization is made up of people with varied opinions and ideologies, they must first put away all their differences and work as one body if they are to reap fruits out of their work. In this regard each member should not feel superior to the other as this would hamper oneness in the organization.

An organization also calls for openness and in this case nothing related to the organization should be done without alerting any of the members (Ison, 2007). If anything is done behind scene that indicates that the organization is not open to some of its members.

Garnet is a UK based company that deals with manufacturing of papers which it sells locally and exports the surplus. Through the exports it becomes one of the major sources of revenue for the government of UK. It also houses many workers ranging from those working with the machines to the financial officers of the company.

Garnett Company has been able to produce varied looks of the product that is not only attractive to customers but also friendly to the environment (Robert, 2006). It has been in existence producing high quality papers as from two hundred years. The company all along has been in a position to come up with different kinds of paper products which include; files, donation wraps, folders as well as present bags.

The highest number of the company’s products is prepared from fibers that have been recycled. It is through its proper management that the company has made it to be a dynamic sector serving the whole region as well as making it to possible to bring in ways of meeting their customers demands.

In the recent past the company has opened operational sites in different nations in the world and this has made it remain competitive and unbeatable (Friedman, 2009). Its success can be attributed to its committed workers and its workers are not only UK nationals but also from varied nations in the world. This has also made it possible for the company to market its product in many nations making it realize huge revenue hence able to undertake its operations.

Market structure elaborates the condition of the market as well as the level of antagonism between the consumers and the producers. There are also various markets structures that are major and they include; monopolistic competition, monopoly as well as oligopoly kind of competition. Garnett Company falls under the monopolistic kind of competition (Friedman, 2009). This is due to the reason that it experiences stiff completion from such similar companies in UK that produce similar kind of product.

Some of the industries that produce papers in the region include; Cotek papers, Clegg Papers Limited, Institute of Paper, Printing and Publishing as well as James Cropper. These industries have posed much competition to Garnett since they produce the same kind of products which serve the same purpose to the nation though some have a slight change in their produce making it hard for the company to sell its produce.

For instance, some companies like Aylesford Newsprint produce the best quality kind of papers which can be recycled hence [posing a stiff completion to Garnett industry as people regard the product from Aylesford Newsprint as more of good quality as well as due to the fact that the materials can be recycled (Brittion, 2006).

Despite the fact that the company produces similar products they express their differences by the manner in which they finally present their product to their consumers. For example an industry may opt to make paper products of varied colors as well as with different textures. The companies have lowered the demand of the papers made by Garnett industry.

Despite the fact that there is competition in the paper products produced in UK the nation have experienced great advantage as the costs of the products have gone down as well this have led to the companies making products which are of higher quality. Due to this reason, the company has introduced external markets to the outside nation since in the outer region the level of demand of its products is higher.

The management of any given kind of a trade is expected to ensure that the field yields maximum profit so as to meet the set goals of the field. This therefore calls for the supervisors to come up with ways of ensuring that all the means of production are utilized so as to bring in significant results at the end. The management also ought to have the skills that are helpful to the firm by ensuring that the financial income is equivalent to zero for the firm to be considered to be making profit (Friedman, 2009).

Business environment refers to either internal or external factors that affect the day to day operations of a firm. The internal business environmental is factors that the business is in a position to control on its own. Some of these internal factors affecting Garnett Company in UK include workers as well the sources of the raw materials that the company use in making its products.

The external business environment refers to the aspects that indirectly affect the business operations but the business has no control of. Some of the examples of external factors compose of the government, suppliers, competitors’ consumers, as well as the technological factors.

Garnett Company has made it to control its worker hence making it to meet its targets. The company is locally as well as internationally based thus the management works in taking a close supervision of its workers thus enabling the organization to make profits despite the high level of competition in the region. This is one of the reasons why the company has made it to compete with other companies that produce better as well as products of higher quality.

In addition to this, Garnett Company has also made it to completely utilize the technological factors that are available in UK hence efficiency resulting to high quality products thereby creating high demands for its goods which make the company to take the largest share of the available market.

This is one of the reasons why Garnett Company is able to market its paper products throughout the region as well as internationally that are outside UK. Another environmental factor affecting business operation in Garnett Company is the government. The company has faced much stress coping with the taxation since this one of drawbacks in the operations by the company.

The level of taxation has made the company to go down in its activities as the money utilized meeting the government quest. Though the company has so far excelled in marketing its products the government has interfered in its operations thus, causing more problems to the company’s selling rate of its paper products.

Garnett Company has also been able to utilize another external environmental factor that is the consumers (Brittion, 2006). It has been able to achieve this by providing high discounts on its products to its potential consumers.

This has resulted to it attracting more consumers hence making it to fit in the selling field despite the fact that it is full of competitors. From the huge profits the company gets has also enabled it to offer after sales services for example, transport of goods on behalf of the consumers hence attracting more consumers.

In conclusion, the government ought to take control of all the factors that interfere with the business operations in a given region. This would work to improve the organizations activities hence smooth running of such businesses like Garnett Company.

References

Brittion, W, 2006, Business Environment, Financial Times, Prentice Hall.

Friedman, D, 2009, Principles of Microeconomics, The Age Melbourne.

Ison, Wall, 2007, Economics, Talbot Adair Press, Guildford, UK.

Tribe, J, 2005, Economics of Recreation, Leisure and Tourism, Free Press, New York.

Robert, A, 2006, Microeconomics and Behavior. McGraw-Hill, University Press.

This Essay on Microecconomic Concepts in the Garnett Company was written and submitted by user Mattie Hewitt to help you with your own studies. You are free to use it for research and reference purposes in order to write your own paper; however, you must cite it accordingly.

Mattie Hewitt studied at Seton Hall University, USA, with average GPA 3.41 out of 4.0.

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Hewitt, M. (2019, August 20). Microecconomic Concepts in the Garnett Company [Blog post]. Retrieved from https://ivypanda.com/essays/microecconomic-concepts/

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Hewitt, Mattie. "Microecconomic Concepts in the Garnett Company." IvyPanda, 20 Aug. 2019, ivypanda.com/essays/microecconomic-concepts/.

1. Mattie Hewitt. "Microecconomic Concepts in the Garnett Company." IvyPanda (blog), August 20, 2019. https://ivypanda.com/essays/microecconomic-concepts/.


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Hewitt, Mattie. "Microecconomic Concepts in the Garnett Company." IvyPanda (blog), August 20, 2019. https://ivypanda.com/essays/microecconomic-concepts/.

References

Hewitt, Mattie. 2019. "Microecconomic Concepts in the Garnett Company." IvyPanda (blog), August 20, 2019. https://ivypanda.com/essays/microecconomic-concepts/.

References

Hewitt, M. (2019) 'Microecconomic Concepts in the Garnett Company'. IvyPanda, 20 August.

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