From this presentation, I have learned that the problems of monopoly in markets of Korea. In the past, I knew they merge companies many times and they do such a thing for their expanding to make their shops and increasing their sales rate. And I thought that it is a natural situation that they make their company bigger than before to pursue for their better service and products.
But as the presenter gave us many problems, I've noticed some examples of the monopoly problems and bad side effects through the monopoly. I believe it is not good for the long-term economy and for the consumers right when they have a choice to choose what they want to buy.
Merging companies could be the one of the major problems for the economy. I think this could be good effect that they can launch their products better than ever for consumer. However, eventually this could lead to the bad effects that could get rid of consumer's choices and finally the consumers cannot help themselves but buy big companies' products even though the price is not worth to buy those or there will be not much of designs that would satisfy them. It is actually happening in Korea right now.
Another example of the monopoly is in Bakery business. You will see many big franchise bakeries while you walk along the street. It is true that small private bakeries are disappearing these days. Small bakery owners are having trouble running their own store without changed into one of big franchise company. It is true that if we buy breads from big franchise bakery, we can get discounts. But this could also lead to buy only limited type of breads eventually. We also cannot avoid expensive breads after all.
It is a consumer's choice to what to buy and evaluate the product. However, time after time, we actually losing our spot and rights from the big companies who destroy business moral and have their company get everything they want.
Yeah, I agree with your opinion. Monopoly means no competition. In other words, consumers can't choice the product what they want. A domestic airline is a good example of this situation. We have only choice, Asiana airline or Korean airline.
답글삭제Everything has both good and bad side at the same time. Because of big companies and its monopoly, customers could have limited choices. But these big companies have been growing by customers' supports for a long time because they've offered better services and products to customers. But I think the problem is that some big companies don't have a kind of work ethic and what they're only concerned with is thier profits. Monopoly is natural in businesses i think. But big companies don't leave nothing for small and mid-sized companise especially these days like in case of E-mart pizza.
답글삭제I think there's a tacit promise in a business world, another person mentioned it as the work ethic. It is however sometimes not easy to be kept, or even to know the limitation of permittable extent since the promise, or the ethic is only each corporate's initiative choices, and making the biggest profit is the essence of bussiness.
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