Final answer:
Promoting unfavorable facts about the competition is the strategy Sprint or Verizon should avoid, as it's not conducive to success and can harm their reputation. Market forces can incentivize businesses to practice non-discrimination when it aligns with financial success and efficiency, as observed in scenarios with a flower delivery business, an assembly line, and a home health care services firm.
Step-by-step explanation:
For Sprint or Verizon to succeed over the other, they must focus on understanding their customer base, identifying and catering to high-value customers, and comprehending consumer decision-making processes. However, promoting unfavorable facts about the competition is not typically a successful strategy and can often be seen as unethical or being in poor taste, which may ultimately damage a company's reputation more than helping it to outperform a rival. This aspect is what the companies should exclude from their strategies for success.
Market Forces and Non-Discriminatory Practices
Market forces can provide incentives for businesses to act in a less discriminatory fashion in various situations:
- For the flower delivery business with a bigoted owner, recognizing the ethnic diversity of their customer base may drive the business to adopt more inclusive practices to not alienate the clientele, which can directly affect revenue and business sustainability.
- An assembly line facing a worker shortage may be spurred by market forces to hire workers regardless of gender, ensuring the continuity of their operations by tapping into the previously unconsidered female labor market.
- The owner of the home health care services firm who is inclined to pay Hispanic workers less may experience pressure from market forces such as competition for employees, legal ramifications, and public image concerns, leading towards adopting more equitable wage practices.
In a market-oriented economy, it's the firms that need to intuitively understand and adapt strategies that help in attracting more customers and enhancing efficiency, rather than relying on governmental interventions. These market dynamics encourage businesses to operate in a more ethical and non-discriminatory way when such practices are tied to their success and competitive advantage.