5 Negative Traits of Monopoly or Oligopoly Organizations

Engaging with a MONOPOLY or OLIGOPOLY whether it's a vendor, partner, or strategic supplier is extremely difficult and frustrating. Here are some common negative traits of these organizations:

1. Poor customer service

2. Lack innovation & urgency

3. Expensive

4. Bureaucratic

5. Resistant to change

Monopoly or Oligopoly organizations - regardless of industry - manifest these 5 negative traits because they lack real competition and switching costs can often be exorbitant. Their dominant market position fosters these negative characteristics.

The only thing these organizations truly excel at is maintaining the status quo since it preserves their favored market position.

TWO QUESTIONS:

If you face a monopoly or oligopoly counterpart how do you manage the relationship so you can minimize these negative traits while extracting value from the engagement?

If you want to take on a monopoly or oligopoly with an alternative product or service how do you approach that challenge and opportunity?