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Economics Essay

845 words - 4 pages

Perceptions of Friendliness in the Regulatory Environment and its Correlation to Small Business, CEO’s, and Indicators of The Economy

Perceptions of friendliness in the regulatory environment of small businesses offer important insights to the predictability of future outcomes. The data compiled for this paper will be analyzed in the form of two separate regression analyses. The first model identifies correlation between the dependent variable of friendliness and the independent variables of race, along with insight from CEO’s. The second analysis goes further to identify the same correlation but with additional independent variables regarding people who think the economy is in bad ...view middle of the document...

However, I feel that CEO’s have a plethora of responsibility and are held accountable for the actions of many. With that said, I believe that CEO’s who act ethically and generate profits in a sustainable manner regarding all stakeholders should be rewarded heavily.
In the second regression analysis two additional independent variables have been added regarding the perceptions of business owners who feel the economy is in bad shape vs. business owners who believe the economy is in good shape. The results show significant correlations between friendliness and the economy. Specifically, business owners who believe the economy is in bad shape are less friendly, whereas, business owners who believe the economy is in good shape are significantly happier.
Opening a business can be a daunting task and most businesses fail in the first few years. With that said it is up to the business owner to understand the importance of being an effective leader. This involves leading by example and always creating a synergistic work culture that involves both personal satisfaction and economic growth for the business. Small businesses need to identify core values and a mission that explains the role of the business that in turn will serve as a driving force to keep the business going.
Ultimately, the analysis conducted in this report...

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