Would the management of a ﬁrm in an oligopolistic or in a competitive industry be more likely to engage in what might be called ""socially conscious"" practices?

Question

Lucian Lewis

Business

13 February, 09:55

Would the management of a ﬁrm in an oligopolistic or in a competitive industry be more likely to engage in what might be called ""socially conscious"" practices?

+5

Answers (1)

Know the Answer?

Lincoln · Answer 1

Answer: Companies in perfect competition do not usually apply "socially conscious" practices because their cost-benefit relationship does not justify it.

Generally, the administration of an oligopolistic company will carry out "socially conscious" practices, because this differentiation between the other companies would lead to higher than normal profits.