HP is one of the leading companies that provide products, technologies, software and services in the computer industry. The company offers a many products such as computers, printers, storage devices, networking devices and software. HP also offers personal computing services and enterprise information technology to its customers worldwide. Some of the crucial managerial issues include dealing with competition, and ensuring development in technology and innovation. Managers at the company have to deal with other risk factors in the computer industry for instance, cost and revenue issues, research and development.
Abbott laboratories provide pharmaceutical and medical products for its customers. Abbott offers a wide range of products in diagnostic, medical services, nutrition and other established pharmaceuticals. The main managerial issues facing Abbott laboratories is the successful integration of the company with other sister companies and still make it to the top of the pharmaceutical sector.
In order for publicly traded firms to be successful in their markets, managers must understand some of the most important economic concepts affecting their firms. This includes competitive strategies that eliminate other companies in the market, pricing strategies that establish customer base, marginal analysis, shareholder wealth maximization and market structure decisions. Most of these economic concepts ensure a firm remains in its market position thus success (McGuigan, Moyer, & Harris,