Examination 1( CH1-6)
I have a philosophy and it’s to work together with rich poor and religious people so in later generations we have made a path for them and its to work together for a better world and to look out for each other, for that to happen we first have to work together and help the economy globally and grow our ethics better so we can eliminate bribery and corruption as much as possible because it’s the root of evil.
Productivity with business in the United States has gone up so much that they need fewer workers than ever to produce goods. Therefore, this is a problem and it’s due to the innovation of new technologies leaving skilled people ...view middle of the document...
The only way to adapt to this is think innovation era, everyone will need to have at least a college degree to be competent the science technology is where most will grow that’s why we need our population to get more educated in those fields and get skilled to keep our economy up by exporting all these innovations.
To describe the status of the U.S. economy we have to refer to three datas or facts. One is the Gross domestic Product (GDP) is the total value of final goods and services produced in a country in a given year, its role is important because if growth in GDP slows or declines, business may feel many negative effects, such the down steep in 2008.Second, unemployment rate refers to the percentage of the population who are at least 16 years old who are unemployed and tried to find a job within the prior four weeks. Its crucial because unemployment creates recession and overtime could lead to economical depression. Last, The Consumer Price Index (CPI) consists of monthly statistics that measure the pace of inflation or deflation, government computes costs of goods and services including food, housing and medical care to see whether they are going up or down. Its significant because some wages and salaries, rents and leases, tax brackets rates are based on it.
Reaching out to global markets than in domestic markets could get a complex at times due to the differences in culture or barriers in language but here are four strategies to penetrate global markets. Sociocultural Forces refers to the set of values, beliefs, rules and institutions held by a specific group. A good example could be if I opened a subway in a middle east country were Muslims tend to be disrespected when offered pork , therefore pork would absolutely be out of the menu to respect the community. Economic and Financial Forces , economic differences where thanks to our standard of living we may be able to afford things that in other countries average people may not. An example would be countertrading where lets say Jamaica wants to import autos in exchange for bauxite, a element of aluminum ore. However, ford does not need Jamaican bauxite, but it does need compressors. In a countertrade, ford may trade vehicles to Jamaica , which trades bauxite to another country, say India which exchanges compressors with ford. Legal and Regulatory Forces , in any economy, the conduct and the direction of business are tied to the legal and regulatory enviroment, no central system of law exists, so you have to adapt and respect to local codes and laws. Example, if production of weed is legal in Amsterdam cant be parallel here in Virginia so you might want to change the business or look at different state such as Washington whom has recently legalize it. Physical and Environmental Force, certainly affect a company’s ability to conduct global business. Some developing countries have such primitive transportation and storage systems that international distribution is ineffective,...