How do you ensure good management in large natural monopolies or government bureaucracies which by their nature lack (to an extent at least) market incentives?

Natural monopolies have unique products that supply the whole market demands at a relative price compared to other firms, thus requiring high control.

First, the control of the power of pricing in a monopoly indicates proper management. The sum of the company?s earnings should relate to the costs of the products within the firm. Effective and regular assessment of quality (of raw materials and output) should be well addressed, to counter any changes. Possible changes ether to the advantage or to the disadvantage, influences consumer demand and prices of commodities. The outcome, ensure price controls do not build up rewards for the firm to lessen the quality of the product

Involving the government to regulate monopolies and offer protection to the consumer?s interests. Large natural monopolies might raise the prices of the products higher than that of competitive firms since there is no real competition. The government can intervene by price capping, which helps in protecting market power growth.