ECO 415
today was a presentation day for the topic of monopoly..
the third goup will present about this topic..
what i can get from the presentation today is...
A monopoly exists when a specific person or enterprise is the only supplier of a particular commodity (this contrasts with amonopsony which relates to a single entity's control of a market to purchase a good or service, and with oligopoly which consists of a few entities dominating an industry). Monopolies are thus characterized by a lack of economic competition to produce the good or service and a lack of viable substitute goods.The verb "monopolize" refers to the process by which a company gains the ability to raise prices or exclude competitors. In economics, a monopoly is a single seller. In law, a monopoly is a business entity that has significant market power, that is, the power, to charge high prices.Although monopolies may be big businesses, size is not a characteristic of a monopoly. A small business may still have the power to raise prices in a small industry (or market).A monopoly is distinguished from a monopsony, in which there is only one buyer of a product or service ; a monopoly may also have monopsony control of a sector of a market. Likewise, a monopoly should be distinguished from a cartel (a form of oligopoly), in which several providers act together to coordinate services, prices or sale of goods. Monopolies, monopsonies and oligopolies are all situations such that one or a few of the entities have market power and therefore interact with their customers (monopoly), suppliers (monopsony) and the other companies (oligopoly) in ways that leave market interactions distorted.When not coerced legally to do otherwise, monopolies typically maximize their profit by producing fewer goods and selling them at higher prices than would be the case for perfect competition.Monopolies can be established by a government, form naturally, or form by mergers.In many jurisdictions, competition laws restrict monopolies. Holding a dominant position or a monopoly of a market is not illegal in itself, however certain categories of behavior can, when a business is dominant, be considered abusive and therefore incur legal sanctions. A government-granted monopoly or legal monopoly, by contrast, is sanctioned by the state, often to provide an incentive to invest in a risky venture or enrich a domestic interest group. Patents, copyright, and trademarks are sometimes used as examples of government granted monopolies, but they rarely provide market power. The government may also reserve the venture for itself, thus forming a government monopoly.
MGT 417
we learnt chapter 3 until chapter 6..
chapter 3 is about information security..
chapter 4 is about managing knowledge and data..
chapter 5 is about network application..
chapter 6 is about eletronic commerce..
Information security means protecting information and information systems from unauthorized access, use, disclosure, disruption, modification, perusal, inspection, recording or destruction.
Definition of Knowledge Management
There are several different, and sometimes quite confusing statements that claim to be a definition of Knowledge Management' and there are different perspectives on what Knowledge Management is. For example:
▪ KM is about systems and technologies
▪ KM is about people and learning organisations
▪ KM is about processes, methods and techniques
▪ KM is about managing knowledge assets
▪ KM is a holistic initiative across the entire organisation
▪ KM is not a discipline, as such, and should be an integral part of every knowledge workers daily responsibilities
There are 2 types of network applications:-
- Pure network applications
- Standalone network application
(A) PURE NETWORK APPLICATIONS
These are applications created to be used in networks; using pure network applications on a single computer doesn't make sense. Such applications have a separate and distinct user interface that users must learn for instance:-
1. Email programs
They allow users to type messages at their local nodes and then send to someone on the network. It is a fast and easy way of transferring mail from one computer to another. Examples of electronic mail programs (Clients) are:-
- Pegasus mail
- Outlook express
- Eudora Windows mail
- Fox mail
- Opera
- Poco mail
- Mozilla Thunderbird
- Windows mail
2. File transfer protocol (FTP)
This application facilities transfer of files from one computer to another e.g. from a client to a server. There are 2 common processes involved in FTP
Downloading: - This is the process of obtaining files from a server to a workstation or a client (for example when you download programs and music from a server).
Uploading:- This is obtaining of files from a workstation to a server (for instance when you attach documents and upload them to a server, a good example being when you upload photos to Facebook).
Examples of FTP programs are:-
- FTP in Unix
- FTP in Linux or
- FTP in Windows
3. Terminal emulation (TELNET)
It allows a workstation to access the server for an application program. This enables you to control the server and communicate with other servers on the network. The workstation appears as a down terminal that is directly attached to the server. The user feels like he/she is using the server directly. TELNET enables PCs and workstations to function as dumb terminals in sessions with hosts on inter-networks.
4. Groupware
These applications are used to automate the administration functions of a modern office for instance video conferencing and chatting. They facilitate the work of groups and improve on their productivity; they can be used to communicate, co-operate, coordinate, solve problems, compete, negotiate among others.
(i) Video Conferencing
This is the process of conducting a conference between two or more participants at different sites by using computer networks to transmit audio and video data. For example, a point-to-point (two-person) video conferencing system works much like a video telephone.
Each participant has a video camera, microphone, and speakers mounted on his or her computer. As the two participants speak to one another, their voices are carried over the network and delivered to the others speakers, and whatever images appear in front of the video camera appear in a window on the other participant’s monitor.
(ii) Chatting
It is a real-time communication between two users via computer. Once a chat has been initiated, either user can enter text by typing on the keyboard and the entered text will appear on the other user’s monitor. The two must be online for a chat to be initiated. Most networks, cybers and online services offer a chat feature which enables computer users to chat as they go on with their work.
(B) STAND ALONE APPLICATIONS
These are applications that run on stand alone computers (computers not connected to any other). In order to extend their activity, they are rebuild to run on network environments e.g. word processors, spreadsheets, database management systems, presentations graphics, project management etc. They function even when the computer is offline.
Electronic commerce, commonly known as e-commerce, is the buying and selling of product or service over electronic systems such as the Internet and other computer networks. Electronic commerce draws on such technologies as electronic funds transfer, supply chain management, Internet marketing, online transaction processing, electronic data interchange (EDI), inventory management systems, and automated data collection systems. Modern electronic commerce typically uses the World Wide Web at least at one point in the transaction's life-cycle, although it may encompass a wider range of technologies such as e-mail, mobile devices and telephones as well.
Electronic commerce is generally considered to be the sales aspect of e-business. It also consists of the exchange of data to facilitate the financing and payment aspects of business transactions.
E-commerce can be divided into:
- E-tailing or "virtual storefronts" on Web sites with online catalogs, sometimes gathered into a "virtual mall"
- The gathering and use of demographic data through Web contacts and social media
- Electronic Data Interchange (EDI), the business-to-business exchange of data
- E-mail and fax and their use as media for reaching prospects and established customers (for example, with newsletters)
- Business-to-business buying and selling
- The security of business transactions
