Watch the excerpt from the movie \"Tucker: The Man and His Dream\" and read the
ID: 458634 • Letter: W
Question
Watch the excerpt from the movie "Tucker: The Man and His Dream" and read the article “What is a barrier to entry” available in the Learning Materials folder (scroll down to the bottom). Respond to the following questions. a. Select two definitions of a “barrier to entry” from the article “What is a barrier to entry.” Compare and contrast them. Explain what are the similarities, and the differences between the definitions. Are there in your view any flaws in the definitions? Explain. b. Explain why a crisp definition of a “barrier to entry” is useful for managers and for policymakers. c. Based on the discussion provided in the article, provide your own definition of a barrier to entry that is based on the barrier to entry presented in the movie. Explain how managers can use your definition to analyze markets.
Explanation / Answer
Q ) a. Select two definitions of a “barrier to entry” from the article “What is a barrier to entry.” Compare and contrast them. Explain what are the similarities, and the differences between the definitions. Are there in your view any flaws in the definitions? Explain.
A ) Barriers to entry :
Definition 1 : These are the legal / technological / financial forces of the market that prevent th entry of new potential markets.These barriers cause restrictions and lot of struggle to the entry of new / innovative entreprenuers to the market. In few instances, these barriers to entry leads to a monolopolistic market conditions.
Definition 2 : Few strong companies can influence their power on the market forces and restrict the entries of new entreprenuers.These companies can control and dominate the market with their power .
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Q ) b. Explain why a crisp definition of a “barrier to entry” is useful for managers and for policy makers.
A ) Managers must handle barriers very efficiently, as these barriers if unchecked can turn into powerful forces to completly shutdown the plant.They need to make and differentiate their products to gain the eye of the customers .Publicity and advertising to create awareness in the public and understand the importance and core competencies of the company.Few industries are difficult to enter because of the existing industries pressure and competition makes it very hard for entrprenuers to establish their stand.
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Q ) c. Based on the discussion provided in the article, provide your own definition of a barrier to entry that is based on the barrier to entry presented in the movie. Explain how managers can use your definition to analyze markets.
A ) As per the article , barriers to entry that troubled Tucker are :
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