Nordstrom Nuclear Entrepreneurship Case Study

Length: 3 pages Subject: Business Type: Case Study Paper: #46691630 Related Topics: Entrepreneur, Fundraising, Monopoly, Fixed Costs
Excerpt from Case Study :

Nordstrom is a service-driven company, and this is what helps it to differentiate itself from other similar retailers. The company is one of many department stores in the United States that typically anchor malls and sometimes downtown shopping districts. Nordstrom's target market is similar to many other such retailers, and it seeks to differentiate by offering a superior level of customer service that makes for a better customer experience, and a higher degree of brand loyalty than other department stores might be able to cultivate with their customers.

Nordstrom sales people may well be apt to stay with the company because they are treated well. First, they have little to do but serve the customer, and the company supports them on their customer service initiatives. Further, the sales staff receives pay and benefits that are above average in their industry. This is because Nordstrom wants to attract the best people in that profession, as it is so important to the success of the company. By offering an attractive package of pay and benefits, as well as a positive working environment, the company is offering a higher level of utility to its sales staff than its competitors do, and this engenders a certain amount of loyalty on the part of the staff.

2.

Nuclear energy has a high cost of investment, and high ongoing fixed costs. There is also considerable risk associated with nuclear energy. As such, nuclear energy is usually considered to be a substitute for more conventional forms of energy, in particular either coal or hydroelectric. Thus, cross-price elasticities are a major factor in the demand curve for nuclear energy. The higher the price for those other energy sources relative to nuclear, the greater the demand will be for nuclear. In countries where there is extra capacity for nuclear power, it is worth looking at the demand curve somewhat differently. Once the capacity has been built, the demand for nuclear energy is the same as the demand for...

...

By and the large, buyers are not all that concerned where there energy comes from, as long as the lights turn on when the switch is flicked. In that sense, the demand for nuclear energy is the same as demand for energy, where capacity still exists. If the consumer has a choice about their energy source, the demand for nuclear energy will be relative to its price vs. The price of other forms of energy.

The supply curve for nuclear energy has to take into account the high fixed costs for nuclear energy, the risks involved, and the availability of other sources of energy. Relative to coal, nuclear energy is considered to be safe and clean. This means that in some places, there is a strong market for nuclear energy because it is perceived as better for the environment -- this is the case in Western Europe, for example. Nuclear energy is not favored relative to hydro, however, or other sources of energy that are perceived as being clean and readily available, and lower cost. Thus, you do not have nuclear reactors in countries that have a surplus of hydroelectric or geothermal energy, such as British Columbia or Iceland, but you do see nuclear reactors in places like Germany or Israel that do not have alternatives.

The nuclear energy industry will always be in a state of monopoly. This is an industry that needs to be very highly regulated. First, the technology is a matter of national security. Second, the fixed costs of production are very high -- firms cannot built reactors where they cannot guarantee that they will sell all of the power that they generate. Third, the regulation must be very strict -- the consequences of anything bad happening are far beyond what just about any other industry can produce, which means that there is again a strong public interest case to be made for having a monopoly -- probably a government one -- running the production of nuclear power.

3.

Social media has already changed the business environment for entrepreneurs -- that happened a long time ago. In essence, social media allows entrepreneurs to do so the same things that they always did, but they can do it much more efficiently. Marketing is easier -- reaching more people and for less money. There are sites that can be used…

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