A Reflective Essay is an academic essay; what makes an essay “good” will work for a reflective essay. What is different about a reflective essay is that the essay is about you and your thinking. However, you will need evidence from your course to back up your reflections.
Reflective Essay Sample
It has been very difficult to balance competition and monopoly in various industries. In the internet industry, this situation has been exhibited by the emerging issues technicalities of balancing competition and monopoly between Google and Facebook (Dans, 2016). This issue has been very prevalent in almost all industries. Coca-Cola and Pepsis are big companies competing in the same beverage industry. Some years back, I undertook research on the beverage industry and I noted the difficulty in balancing competition and monopoly in the non-alcoholic beverage industry involving Coca-Cola Company and Pepsi. Coca-Cola and Pepsi are large reputable companies operating worldwide. They have been big competitors for a long time although Coca-Cola has been dominating this industry. I noted that their rivalry has heated up significantly until it was referred to as Cola wars. In fact, I read certain articles that assert that Coca-Cola had taken a step to maximize their profits by taking over Pepsi’s market. At some point, some beverage companies including Pepsi complained that they were facing a threat from Coca-Cola since it has been purchasing their products before it reaches the market and destroys them all. This causes supply scarcity in the market for products of Coca-Cola’s competitors while Coca-Cola products are available in the market thus making more profit and creating brand loyalty for itself at the expense of its competitors. Moreover, Coca-Cola off late I have noticed that Coca-Cola has focused on improving its products by changing tastes in their sodas and introduced new products to meet the needs of its consumers.
Coca-Cola is trying to create a monopoly by using the profit maximization rule as its focuses on expanding its output to create equivalence in the marginal revenue and marginal cost (Lesson 5, Slide 2). Specifically, to maximize their profit through monopolization, Coca-Cola sought to eliminate the perfect competition that existed in the market by suppressing its competitors’ supplies through purchasing them and destroying their products to prevent them from reaching the market. Essentially, the normative theory has been applied to Coca-Cola’s focus on creating a monopoly and overcoming competition (Lesson 1, Slide 9). Coca-Cola centered on maximizing its profits by increasing and expanding its output.