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Unit 3 Current Economic Trends

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Current economic trends, labor market trends and product and service trends economic trends  Consumer spending can boost economic growth: Improved consumer spending level and saving can create a strong and positive labour market. With low energy bills to pay they can have more capabilities to spend. However the speed of spending power cannot catch up the power from household cash flow. If consumers feel more confident in the future, they would like to spend more which will directly stimulate the economic growth.  International trade will be critical for all the countries growth and economic growth: if the international trade volume has been decreased the production level will be dropped as consumers will fear for the spending and economic …show more content…

To achieve mass customization, the products need to meet the demands from the majority of the customers.  Digitization - Companies will increasingly invest on the digitisation of the production and products. That digital process will cover all the required processes from manufacturing, stocking, warehousing, customer services, delivering and the after sale services.  Regulation – Company needs to be fully aware of the differences of regulations among states and their regular updating of legislations. For example, many laws limit the amounts and sources of certain materials that a product can use. Tracking those materials through the supply chains and then reporting the progress to the government is a complex product management process that demands a sophisticated digital work.  Smart products – nowadays the production process involve more of the software and smart processing. This trend creates the demand for the cross functional team work. We need to ensure all the team members have the required skills and knowledge to improve the smart …show more content…

No stakeholders will be discriminated based on their different views, opinions, values, beliefs, religions, colours, ethical backgrounds, languages spoken, etc.  Regulations: Tanarin’s burger shop will be legally compliant because they are familiar with the government rules and regulation. The business also has its legal consultant to provide the advices on the legal requirement to follow with, such as licence registration and renewing, service contract agreements and leasing.  Security and private issues: Tanarin’s burger shop has designed its security and privacy procedures to ensure all the business information and data are maintained in a safe and sound manner in the workplace.  Social responsibilities: Tanarin’s burger shop has designed the business practices to demonstrate the required initiatives to benefit the local communities such as reducing pollution footprint, donating to the local schools and communities, spending time and resources for the local programs and treating staffs in a fair and ethical way. Impact of new technology on

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In this paper, I am going to discuss and explain my opinions on why company Q is or is not socially responsible. Company Q recently closed a couple of stores in high crime areas. Company Q also started offering very limited health conscious and organic products. The local food bank has contacted Company Q requesting day old food for donations. Company Q has declined the donation request due to possible fraud by its employees and has started throwing the food away.

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As a group we believe that New Belgium Brewery (NBB) is a socially responsible corporation. Social responsibility is an ethical framework where corporations should embrace economical, cultural, social, and environmental issues ethically and susceptibly (imasocialentrepreneur.com, 2015). Firstly, as a corporation, NBB believes that the synchronization of what a “brand says,” and what a “company does” is the stepping-stone in achieving social responsibility (Ferrell, Fraedrich & Ferrell, pp.436). This mandate helps New Belgium Brewery emphasize that as a company, being able to integrate the company’s code of conducts and core values is what will make the company successful.

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Most team members are very active in their own communities and also serve on a number of prestigious boards and committees, so they already practice a vast majority of leadership and determination skills in and outside of work. Many of the top management team members have also graduated from top universities and programs that give them an absolute understanding of business management and leadership skills. The team is led by N.Thomas Linebarger and Rich Freeland, who both have Masters of Business Administration and have many years of experience as leaders in many different operations and organizations. These two individuals stand out the most and should bring the most effective qualities to this top level team. Some of the top management members, such as Anant Talaulicar, Patrick Ward, and Steven Chapman possess skills in overseas dealings and know how to lead operations and management in foreign countries.

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The emerging market, higher education and developing economy made the stability of job growth stronger than the fall forecasts. The trading has grown in the past few years and supported by investors, particularly among advanced and increased manufacturing output. A consistent with strong consumer confidence is the reason for the healthy final demand. The number of individuals in Los Angeles filing initial unemployment insurance claims continued to decrease for the five consecutive years, the longest streak since 1995 according to the local government and Department of Labor.

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∗ 1. How do you think Global Trade has affected Canada and it’s economy? Trade is vital to Canada’s economy and to the well-being of all Canadians. To support economic growth and safeguard Canadian prosperity, Canada has committed to an ambitious international trade strategy, and they have been very successful. However, progress on domestic trade has not always kept pace.

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When the team’s performance expectations are met, there should be rewards and recognitions so as to encourage them to continue their great performance. Nonetheless, since performance is link to remunerations, team members might feel competitive and hence resort to unethical ways in order to achieve their targets. Alternatively, attending leadership training to improve leadership skills and to upgrade the current skills can be done. With that, the manager will have the knowledge on how to communicate, guide and motivate his team to achieve their goals.

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Apple products so popular, it makes a lot of money. The economic environment of apple that affect consumer buying and spending and affect the wealth of an area include income distribution inflation, recession and spending patterns. A business cycle is the pattern of the level of business activity. Business activity can move from prosperity to recession to recovery.

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I notice that each member has a different characteristic that shapes the team dynamic, which is the unseen forces that strongly influence how a team reacts, performs, or solve problems (William, 2013). Learning from the extensive interaction in the CP course and my professional experiences as HR Professional, I know that a leader should understand her team members’ characteristics, particularly their strengths, weaknesses, personalities, and build a same perspective/vision to facilitate team effectiveness. This initiative will enable each member to contribute their talent, develop a collective agreement to solve problems and achieve the team’s goal effectively. Having an effective work group is very critical for solving the challenge/problems, particularly on how we could deliver a robust recommendation for the client by applying diverse knowledge gained from the MBA course and how we could get reliable data/information from Greenwich Library and multiple

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Introductions International trade refers to a country trade goods and services to another country. International trade open up the world potential market to increase producer sales quantity and increase competition on foreign country. apart from these, international trade will create job opportunity and hence reduced unemployment rate as well as positive balance of payment. however, it might bring negative effects to a country as well, therefore, government play an important role in implementing trade restriction on imported goods in order to prevent imported goods destroy the domestic market or at certain extend, monopolize the market. 94 words A ) Discuss the forms of restriction on international trade.

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In the recent years more and more companies in the retail and food industry are concerned about the environmental consequences of their action and also the social ethics for the people involved in the production process. This is a shift from the philanthropic actions companies used to take in 1970’s and by following basic international standards to a ‘business case’ perspective of CSR (Customer Social Responsibility). According to the World Business Council for Sustainability Develpoment ( WBCSD) CSR is: ‘’ the commitment of business to contribute to sustainable economic development, working with employees, theirfamilies, the local community and society at large to improve their quality of life’’ (World Bank, 2002)

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On the other hand, inflation rates have a negative effect on the growth of the advertising industry. Inflation rates affect the prices of goods and services which also affects the purchasing power. If the purchasing power of the consumers decline, manufacturing industries will experience low returns. They will shift the burden to the advertising industry by reducing investment in the industry and therefore affecting growth. The other economic factors also affect growth in one way or another (FME, 2013).

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Introduction Team leadership encompasses many things. It may seem like a simple and small task, but in a real sense, it is complex and comes with responsibilities, and commonly, it determines the success of any team or a group. However, the value of teamwork should not be overemphasized considering that all organizations need individuals and personnel who are willing to share ideas, listen to others and contribute to the problem solving of any given group or a company. Team leaders should have the ability, authority, and power to analyze data and information with a team of people with a common aim and objective as well as issues. The leader should understand the dynamic patterns, the connections and relations between paramount factors in these objectives, aims and issues that help in the analysis process.

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But with proper planning, working with applicable or fitted spectrum learning levels and team work among the employees with one goal, the Organizational Development can be effectively implemented through the defined, achievable and measurable goals and objectives of the business. Since change is inevitable and constant, good leadership within the organization should also consider. The proper training needs can be assess, work advancement opportunities, developed skills and knowledge can be given by the management after accurately assessing its employees from top to bottom, as well as its operational system as a whole.

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Being socially responsible is the idea that businesses should balance profit-making activities with activities that balance benefit society; it involves developing businesses with a positive relationship to the society which they operate. Social responsibility is an ethical theory, in which individuals are accountable for fulfilling their civic duty but the actions of an individual must benefit the whole of society. Social and civic responsibility should be an automatic thing that should come to people’s minds when trying to improve society. The main concept of social responsibility is that every individual, has to perform so as to maintain a balance between the economy and the ecosystems.

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INTRODUCTION Economic growth is defined as the increased capacity of an economy to be able to produce goods and services in comparison from one period of time to another. This is figured by the genuine Gross Domestic Product (GDP) and development, and is measured by utilizing genuine terms such as “Balanced Inflation”. These terms help to remove any distorted views on the perceived outcome of inflation on the cost of merchandises produced. Likewise, Economic growth is related to the high expectations in a person’s standard of living. If the standards are high, it wouldn’t be beneficial for the economy as the working class individuals will face a lot of trouble.

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