Markets & Politics: Nonmarket strategy for real-world firm: recommend action regarding proposed rule

Proposed Rule: https://www.regulations.gov/document?D=FDA-2019-N-…

For this assignment, you will write a nonmarket strategy report for a real-world firm. You will adopt the role of a consultant working on part of the firm’s corporate nonmarket strategy. In this role, you’ll develop a recommendation for the firms public politics actions regarding your proposed rule.

Based on your prior assignments, you should state what the interest of your firm is regarding your rule while considering whether your rule is changing an existing policy or seeking support/reinforcing an existing policy.

Length: 2 to 3 pages. Format: Single-spaced, double-spacing between paragraphs. APA format. Citations required for your rule proposal and if citing any evidence. Try to keep everything in the third-person.

Structure:

– Introduction (Background Information & Thesis)

– 3-4 supporting paragraphs with Evidence & Analyses

– Conclusion

– APA citations (In text & work cited page)

Your objective is to decide which nonmarket actions to recommend to the firm as they relate to the agency proposing the rule. The nonmarket actions you should consider (but are not limited to) are:

– Lobbying;

– Commenting on the proposed rule/providing information;

– Building a coalition with other firms.

Be sure to: 1. Consider the benefits (profits, sales, market value) 2. Outweigh the weekness (costs of organizing, direct costs of strategies)

For firms, the benefits are reflected in sales, profits, and market value, while the costs stem from organizing for collective action (if building a coalition), as well as the direct costs of undertaking nonmarket actions and achieving the desired outcome (i.e., its effectiveness). The effectiveness of a nonmarket strategy depends on the appeal to key stakeholders’ interests and the appeal to policymakers’ interests. The policymakers’ interests can be getting re-elected (if the policymaker is an elected public official) or building legitimacy (if the policymaker represents an independent agency).