Jeffery David Whippo explains the importance of industrial organization. It is the analysis of factors that contribute to the overall strategy and product placement of the firm. It also involves a study of different areas that affect the operations of the firm.

According to him, it is the economic field that studies the strategic behavior of the firms and their interaction to determine the structure of the markets. It emphasizes on the study of the firm strategies that are characteristic of market interaction including price competition, product positioning, advertising, research and development, and so forth.

Jeff Whippo states that industrial organization draws upon contributions from a variety of fields of economic inquiry including game theory, information theory, organization theory, agency theory, and transaction cost analysis, as well as the related field of strategic management.

There are various forms of industrial organizations which are based on production and selling environment economists group industries into market structures. These forms include pure competition, monopoly, oligopoly, and monopolistic.

About Jeff Whippo

An insight into the life of Jeff Whippo, he is a professional educator and developer of people, teams, and leaders. He is a well-educated professional who has attended California Coast University, Boston University, California State Polytechnic University, Community College of the Air Force, and Citrus College. He also worked as a Combat Intelligence Specialist for the USAF for almost 4 years.