Strategic Management - What is Oligopoly? | From A Business Professor
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What you'll learn
Understand the principles and frameworks of strategic management
Apply internal and external analysis tools such as VRIO and PESTEL
Evaluate business strategies through real world examples and models
Develop skills in strategic decision-making and leadership
Hello everyone, welcome to Business School 1o1. In the market for smartphone operating systems, Apple's iOS and Google's Android jointly account for more than 90% of the market share. Similarly, in the realm of large commercial aircraft, Boeing and Airbus dominate the skies. These two scenarios are prime examples of an oligopoly, where a small number of dominant firms control market dynamics, pricing power, and competitive forces. So what is its definition and what are its characteristics? Are there any real-world examples? What are its influences on the market and consumers? In this video, I will discuss these questions with you.
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