MIDTERM:

When describing the state of the U.S. economy, reporters often refer to the nation’s GDP, its unemployment rate, and the CPI. Explain what each of these terms means and why each measure is significant.

  • Describe and provide examples of four different strategies for reaching global markets

  • Identify and discuss the social responsibilities of a company.

  • List and discuss at least three causes of small business failure

  • What is the purpose of the SWOT analysis? What types of information does this analysis provide?

SUMMARY: Mid-term Group Project Requirements

Grading Criteria:

  • This assignment will be graded using the UOTP Writing Rubric

 

 

 

 

When describing the state of the U.S. economy, reporters often refer to the nation’s GDP, its unemployment rate, and the CPI. Explain what each of these terms means and why each measure is significant.

GDP is acknowledged as an entire worth of annual output produced of goods and services in the nation. GDP acknowledged as a wide predictor of the performance of the economy of a nation. GDP increase and decrease specify the growth within an economy or stagnation or a decrease (Graham, 2017). For instance, when there is a decrease in the nations GDP for more than a year than the nation’s economy falls in a depression.

The unemployment rate is acknowledged as a measure of the quantity of citizens at age of 16 and above who are not having any job, although they are vigorously looking for the employment (Graham, 2017). A sky-scraping rate of unemployment specify that majority of people who have capability of job and are willing to do a job are devoid of any jobs. It is not desired by any nation which leads to the decreased output of the economy. The unemployment rate affects the whole spending and production patterns of the nation.

The consumer price index (CPI) declares the monthly figures measuring the inflation pace or deflation within a nation (Graham, 2017). The measurement of the prices is determined to specify the critical changes in the economy. The CPI is significant because prices of many components of the economy are based on it like salaries and wages, housing, leases, rents, taxes, apparel, interests and government benefits. CPI also affects the standard of living of most of the people.

Describe and provide examples of four different strategies for reaching global markets

The four strategies discussed here are licensing, exporting, and contract manufacturing and direct investment. Licensing is a strategy in which a firm vends its manufacturing rights of its products or trademarks a company operating in another country (Walt Disney Company, 2013). For example, Disney is a firm which licensed its media as well as products like Disneyland Parks all over the world for its expansion through much less investments. Second strategy is acknowledged as foreign outsourcing in which a firm uses a third party outside the national boundaries for production of its products or any other supporting function (eHow Contributor, 2017). For example, Disney employs the foreign outsourcing from China and Asian regions for production of its consumer goods because of lower labor costs (Walt Disney Company, 2013). Exporting is another strategy used for domestic production of products but selling to other foreign nations. For example, Matt and Mike produce a product for fixing cracked hockey sticks and export that to an individual in Sweden to make that available in all Scandinavian countries. Lastly, direct investment is a fixed and real investment in infrastructure in another foreign country to expand the operations around the world through real presence (eHow Contributor, 2017). For example, Disney operates its owned theme parks as well as retail stores through directly investments at its present locations all over the world.

Identify and discuss the social responsibilities of a company.

The social responsibility of business implies different commitments or obligations that a business-association has towards the general public where it exists and work. Some critical social responsibilities are examined here. Right off the bat, a business must give an appropriate profit to its investors or speculators alongside offering reasonable wages and pay rates with great working conditions. It must give a consistent supply of good quality products and additionally administrations to its shoppers/clients at sensible costs. It must submit to all administration tenets and controls, underpins its business-related strategies and should pay reasonable assessments without keeping any postponements or contribution (Investopedia, 2017). It should likewise contribute in improvement of a neighborhood group by doing liberal exercises like building schools, universities, healing centers, and so forth. It must take colossal care to see that its exercises neither straightforwardly nor in a roundabout way make devastation on the essentialness of its encompassing condition. It ought to keep up a stringent approach to check or control contamination concerning defilement of air, water, land, sound and radiation spillages (Investopedia, 2017). Here, to do as such, it must contract experienced proficient people who are specialists in their separate fields. It should likewise offer social-welfare administrations to the overall population.

List and discuss at least three causes of small business failure

The three significant causes of small business failure are lack of planning, lack of funding and blurring line of business and personal spending. Business visionaries regularly begin independent ventures fixated on an item or administration they know and cherish, and many dismiss guidance to compose a point by point business design, figuring their eagerness and imagination are the most essential requirements (Scott, 2017). In any case, business designs don’t go that way and require a great deal of planning and home work to make it a win. Another real reason of small company failure is no money pad or absence of subsidizing. It is delineated that the economy works in cycles, with highs and lows. Furthermore, every business visionary countenances sudden issues and unexpected costs which can cause disappointments if not very much oversaw. At the point when entrepreneur work for more than 16 hours a day, the line between their businesses and individual lives is once in a while obscured (Scott, 2017). Business people here and there observe their business incomes as individual money holds. Inability to keep business and individual funds straight, and independent, can prompt grief, liquidation and some exceptionally troublesome expense challenges which cause disappointment.

What is the purpose of the SWOT analysis? What types of information does this analysis provide?

The SWOT investigation is a piece of the critical strategic planning of the firm where it associates its purpose and techniques to significant strategies completed by workers (Kokemuller, 2017). In particular, SWOT is part frequently of the circumstance examination, where the organization figures out where it stands on four key zones to better figure out what changes to make. It additionally give data about the open doors right now exist for addressing individuals’ needs and also the information of the items and clients that are generally gainful. It likewise offers the perspective of the components for which clients buy or not buy the organization’s items and administrations. It additionally offers the perception of the company’s significant rivals, and the threats those contenders force for the business (Kokemuller, 2017). SWOT starts with an investigation of the general business condition. It at that point recognizes the strengths and weaknesses of the firm. This piece of SWOT includes inner investigation, which should ordinarily be possible reasonably effortlessly. At that point the investigation endeavors to distinguish openings and aggressive and ecological threats. Since these depend on factors that are outside to the firm, they are harder to survey.

 

 

References:

eHow Contributor. (2017). Strategies for Reaching Global Market. Retrieved from:

http://www.ehow.com/info_7756986_strategies-reaching-global-markets.html

Graham J. (2017). The Big Three Economic Indicators. Retrieved from:

https://www.discoveroptions.com/mixed/content/education/articles/bigthreeeconomicindicators.html

Investopedia. (2017). Social Responsibility. Retrieved From:

http://www.investopedia.com/terms/s/socialresponsibility.asp

Kokemuller N. (2017). Purpose of SWOT Analysis. Retrieved from:

http://smallbusiness.chron.com/purpose-swot-analysis-15364.html

Scott L. (2017). Four Major Reasons for New Business Failure. Retrieved from:

http://smallbusiness.chron.com/four-major-reasons-new-business-failure-51924.html

Walt Disney Company. (2013). Disney around the World. Retrieved from:

http://thewaltdisneycompany.com/about-disney/disney-around-the-world