In a typical competitive market (not in health care), how does competition work to promote the efficiency
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In a typical competitive market (not in health care), how does competition work to promote the efficiency of organizations operating in the market? What are the consequences for an organization (and its employees) that fails to operate efficiently in a competitive market? What are the consequences for a hospital that fails to operate efficiently in the NHS internal market? In what ways are the incentives providers face in the NHS system similar to those for private firms in a competitive industry? In what ways are the incentives different?
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In a typical competitive market competition works to promote the efficiency of organizations in several ways 1 Pressure to reduce costs Competition encourages organizations to find ways to produce goo...View the full answer
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Hassan Ali
I am an electrical engineer with Master in Management (Engineering). I have been teaching for more than 10years and still helping a a lot of students online and in person. In addition to that, I not only have theoretical experience but also have practical experience by working on different managerial positions in different companies. Now I am running my own company successfully which I launched in 2019. I can provide complete guidance in the following fields. System engineering management, research and lab reports, power transmission, utilisation and distribution, generators and motors, organizational behaviour, essay writing, general management, digital system design, control system, business and leadership.
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