The Macroeconomic Theory Of The Economy Finance Essay - Free Essay Example

Sample details Pages: 5 Words: 1533 Downloads: 3 Date added: 2017/06/26 Category Economics Essay Type Narrative essay Did you like this example? As we are discussing the macroeconomic theory of the open economy, it is important to look at the individual governments macroeconomic policies, which are monetary and fiscal policy. In the United States, the monetary policy that is put in place, affects an organizations economic and financial decisions, such as loans and purchases. This macroeconomic policy influences the operations of the organizations economic activity (Business Financial Systems, 2009). Macroeconomic factors that influence the operations of the company This paper is written for XYZ Construction, Inc, as the organization transitions from being privately owned to public ownership with their IPO in a few months. In order to adequately discuss the essential economic factors for XYZ horizontal construction company, the two macroeconomic policies have to be defined: Monetary policy is the regulation of the money supply and interest rates by the United States Federal Reserve for the purpose of controlling inflation and stabilizing the currency (Hayat  Ãƒâ€šÃ‚  Mishra,  2010). Fiscal policy this is the regulation by the government to that affect tax rates, interest rates and spending to control the economy. Like the monetary policy, it uses to stabilize the economy (Hayat  Ãƒâ€šÃ‚  Mishra,  2010). For XYZ management to have a full understanding of the macroeconomic of open economy, it crucial that we mention the market for loanable funds and the market for foreign exchange in the analysis. In the ma rket for loanable funds, the interest rate adjusts to balance supply for loanable funds from national saving and demand for loanable funds from domestic investment and net capital outflow (Business Financial Systems, 2009). This is represented by the following computation: Don’t waste time! Our writers will create an original "The Macroeconomic Theory Of The Economy Finance Essay" essay for you Create order S = I + NCO S represents Saving = Domestic investment + Net capital outflow Since XYZ intent is to go global, it is therefore important explained foreign exchange in my discussion. In the market for foreign exchange, the real exchange rate adjusts to balance the supply of dollars (for net capital outflow) and the demand for dollars (for net exports). Net capital outflow is the variable that connects the two markets (Business Financial Systems, 2009). This is computed in the following: NCO = NX Net capital outflow = Net exports The computation shows that the imbalance between the purchase and sale of capital assets abroad (NCO) equals the imbalance between exports and imports of goods and services (NX). The supply and demand in the foreign exchange market determines the real interest exchange rate and in an open economy (NX=NCO), it allowed for trade and borrowing and lending from the global markets. In some cases, a trade restriction can be imposed to increase the net exports and increases the demand for dollars in the market for foreign exchange. This will result in the dollar appreciating in value, making domestic goods more expensive relative to foreign goods and this increase will balance the net exports (Bergstrand, 1992). Microeconomic considerations relative to the company As the XYZ Construction, Inc., transitions from being privately owned to public ownership with their IPO in a few months, it is important to discuss the global business market and the importance of customer retention and market economies. To further the discussion, microeconomic has to be defined. Microeconomics is the study of how individual firms or consumers do and/or should make economic decisions taking into account such things as: their goals, incentives, objectives; their choices, alternatives, problems; constraints such as inputs, resources, money, time, technology, competition, supply demand factors and All (cash noncash) incremental or marginal benefits and costs (Breser-Pereira, 2009). Countries such as the United States uses microeconomic policies to target cost inflation pressures which cannot be contained effectively by using macroeconomic measures. The organization (XYZ) has to understand that microeconomics is about how supply and demand interacts in markets. A t this level, participation in global business can help XYZ to achieve economies of scale that cannot be achieved in domestic markets (Breser-Pereira, 2009). Legal considerations relative to equipment leases and e-contracts A contract is a binding agreement made between two competent parties that can be written, verbal or implied. To qualify as a contract, a set of promises must be based on a voluntary agreement, which is made up of an offer and an acceptance of that offer (Miller, Barnes, Bowers, Langvardt, 2007).   The purpose of a contract is to create an agreement that can be supported by the law (Miller, Barnes, Bowers, Langvardt, 2007).   In todays business world of promises and actions, contracts must be made in order to deem those promises legally binding. The essential elements of a contract are: binding agreement, competent parties, form required by law, legal in purpose, consideration, and genuine assent (Koff, 1994). Consideration must be present in a contract in order for the contract to be enforceable. As the XYZ Construction, Inc., transitions from being privately owned to public ownership with their IPO in a few months, it is important for the organization to underst and the legal considerations relative to equipment leases and e-contracts. Organizations are affected by laws and regulations in all their business activities, such as hiring and firing decisions, workplace safety, the manufacturing and marketing of products, and business financing (Business Financial Systems, 2009, p.338). For XYZ management to have good business etiquette, their knowledge of the laws and regulations will be essential and beneficial to the organization (Business Financial Systems, 2009). This knowledge of the laws and regulations will help the organization to prevent legal disputes. The assumption is that since XYZ is a construction company, that equipment will be leased. The common law rule that a contract requires consideration also applies to sales and lease contracts (Business Financial Systems, 2009, p. 379). Compared with the common law of contracts, the UCC places more emphasis on intent, if the parties intended to make a contract. Under the UCC, modifica tions to sales and lease contracts require no consideration. Under the UCC, an organization transfer of the right to possess and use goods for a period in exchange for payment (Business Financial Systems, 2009, p.374). What is this UCC? Uniform Commercial Code is the law that encourages commences (Business Financial Systems, 2009, p.370). The original purpose of UCC was to make different transactions uniform throughout the 50 states of the United States, so businesses and people should not have to worry about understanding the different laws governing financial transactions as they conduct business within the continental U.S.A. This law facilitates commercial transactions by making the laws governing sales and lease contracts uniform, clearer, simpler, and more readily applicable to the numerous difficulties that can arise during such transactions (Business Financial Systems, 2009, p. 370). In order words, it is the streamline processes of handling financial transactions. E-Contracts These are contracts entered into electronically. For XYZ to do business via the internet the organization has to protect itself against contract disputes and legal liability by creating offers that clearly spell out the terms that will govern the transactions if the offers are accepted or clearly understands the offers made to them (Business Financial Systems, 2009, p.396). The acceptance can be done in several ways, such as the e-signature, click-on agreement and browse-wrap terms (Business Financial Systems, 2009, p.399). Employment and labor law influences as the company grows As the XYZ Construction, Inc., transitions from being privately owned to public ownership with their IPO in a few months, it is important that the management pay attention to employment and labor laws. XYZ management goals are to increase the organizations profits through improved working conditions, salaries, and benefits (Business Financial Systems, 2009, p.409). This discussion will deal with certain laws and regulations that will be beneficial to the management of XYZ Construction, Inc. The organization must comply with laws and regulations to ensure that employee rights are protected (Business Financial Systems, 2009, p. 409). The following laws and regulations are some that the organization has to comply: Employee Retirement Income Security Act (ERISA) Prevents fraud and other abuses associated with private pension plans. Consolidated Omnibus Budget Reconciliation Act (COBRA) Permits employees and their beneficiaries to continue their group health insurance after a n employees employment has ended. Family and Medical Leave Act (FMLA) Guarantees workers up to twelve weeks of unpaid leave in a twelve-month period to attend to family and medical emergencies Immigration Reform and Control Act (IRCA) Makes it unlawful for employers to hire illegal immigrants. Employers are required to complete INS Form I-9 attesting legal U.S. citizenship or legal alien status of each employee. Minimum Wage and Overtime Pay Employers are required to pay covered (non-exempt) workers at least the minimum wage for their regular work hours. Overtime pay is also mandated. Worker Health and Safety Under the common law, employees injured on the job had to rely on tort law or contract law theories in suits they brought against their employers (Business Financial Systems, 2009, p.415). Worker safety and health should be a primary concern to XYZ management. The benefits of the use safety and health system in the workplace are: it will cause the reduction of work related injuries and illnesses; will improve morale and productivity and reduce workers compensation costs, whereby making the organization profitable (Business Financial Systems, 2009). Conclusion In order for XYZ Construction, Inc., to function properly in the domestic and global market, safety and health, economic, employment and labor laws forces must be clearly understood.

Of Mice and Men and American Dream - 863 Words

Hopes and dreams are important in ‘Of Mice and Men.’ Not is it important to the characters of the story itself, it is the theme of the novel. In this essay I will talk about the hopes and dreams of the main ensemble and also about the context of the novel, the American Dream and the Great Depression on the 1930’s. I will also talk about the poem Steinbeck based the book’s title off and how important it is to the book’s overall theme. The dream of attaining land and – ultimately – happiness is one which motivates nearly every character. George often speaks to Lennie of a farm where the two of them can live in peace â€Å"an’ live off the fatta the lan’.† In these instances, at the novel’s opening and its ending, George is the accomplished†¦show more content†¦He is at ease with his situation, and by comparing the contrast of his state with the other characters, one can only assume that the others have their dreams because of their reluctance to accept that the world is a harsh place. Only the innocent can take comfort from dreams and with his childlike characteristics, Lennie represented innocence itself. His innocence influences the other characters, George most obviously. â€Å"(Lennie) usta like to hear about (getting the farm) so much,† reveals George near the end of the novel, â€Å"I got to thinking maybe we would.† That is why hope is so impor tant to the ‘Of Mice and Men’ characters. ‘Of Mice and Men’ is reflective of the time it was written, during the Great Depression of the 1930’s. Many Americans naively assumed that California was a place where one could start anew and own land. This dream for land and for untarnished happiness was called the American Dream. The reality was that many Californians were unemployed and struggling to even have bread on the table. Born in Salinas, California, in 1902, Steinbeck must have witnessed for himself the hopelessness of the American Dream. He wrote that Lennie’s â€Å"earthly longings †¦ was not to represent insanity at all but the inarticulate and powerful yearning of all men.† In saying that, he suggested that the dreams and hopes of the American people were pertinent to the novel. The title of the book itself implies how important dreams areShow MoreRelatedOf Mice and Men and the American Dream912 Words   |  4 PagesStienbeck’s novel â€Å"Of Mice and Men† is about the death of the American dream. George, Lennie and Candy’s dream is to own their own piece of land to work and live independently on. This dream is destroyed by Lennie’s ignorance and Lennie’s strength, which he cannot control. Curley’s wife’s dream is to be a famous Hollywood actress. Her dream is destroyed by her marriage to Curley and the Hollywood director who promised to contact her about her acting career but never has. Crook’s dream is for equality.Read MoreOf Mice And Men And The American Dream Theme756 Words   |  4 Pageshad no self courage, and especially, had dreams that seemed impossible. Of Mice and Men creates a world of gloom, sadness but also joy. The novella specifies many problems that the world had and still has in mod ern day. The novella is driven by a common theme that shows the flaws and strengths of the characters. The American Dream is an important theme in Of Mice and Men because it helps the characters look forward to a better future. Also, The American Dream makes the characters make important decisionsRead MoreOf Mice and Men: The Death of the American Dream1178 Words   |  5 Pages The Death of the American Dream The American Dream has always been one of the most prominent ideals in American society. Of Mice and Men was written by Steinbeck in 1937. It focuses on the lives of two men, Lennie and George, as they try to fulfill their own American Dream of owning a small farm. While this seems like an attainable dream in the beginning, Steinbeck chooses instead to destroy this dream utterly with the death of Lennie. Curley’s wife had an American Dream of being an actressRead MoreOf Mice and Men on the American Dream Essay1348 Words   |  6 PagesOf Mice and Men: The American Dream Quote #1: I remember about the rabbits, George.The hell with the rabbits. That’s all you can ever remember is them rabbits. (1.18-19) | This is the first mention we have of the American dream. Even from the introduction, it seems Lennie is more excited than George about the prospect. George’s easy dismissal of them rabbits makes it seem as though he thinks the whole thing is silly. This will get more difficult as we realize that George might be as excitedRead MoreThe American Dream In John Steinbecks Of Mice And Men761 Words   |  4 PagesPropaganda filters throughout the world to lean people’s views one way or another. In Of Mice and Men by John Steinbeck, he uses George and Lennie, Crooks, and Curley’s wife to demonstrate the American Dream. This is unattainable but is their motivation to carry on their daily on the ranch lives. George and Lennie’s actions revolve around their American Dream. In a conversation between George and Lennie they discuss their dream, George states â€Å"... We’re gonna get the jack together and we’re gonna have a littleRead MoreThe American Dr eam in Of Mice and Men by John Steinbeck710 Words   |  3 PagesThe American Dream is something that many individuals have desired for countless years. Although it has evolved during the past couple of years, many individuals still strive to achieve it. Steinbeck’s novel Of Mice and Men illustrates this American Dream of the 1930’s, which is looked upon as impossible through the failure of George and Lennie’s achievement. â€Å"The story Of Mice and Men and the American Dream is known to be somewhat different; it can define the independence and self-sufficiency forRead MoreThe American Dream in Of Mice and Men by John Steinbeck712 Words   |  3 PagesThe American Dream in Of Mice and Men The American dream is the traditional social ideals of the US, such as equality, democracy, and material prosperity. In the Novella Of Mice and Men by John Steinbeck the American Dream plays a huge role in almost every character’s lives, and the different version of the American dream for each individual has affected both their lives and the outcome of this novella. The American dream plays a role that makes each character more hard working and perseveredRead MoreThe American Dream In John Steinbecks Of Mice And Men804 Words   |  4 PagesDreams are meant to be dreamt but are never attained. In the riveting novella of Of Mice and Men, two â€Å"bindlestiffs†, George and Lennie (the protagonists), search for a job in Soledad, a small town not too far from Salinas, during the poverty-stricken era of the 1930s. During the 1930s, many â€Å"Okies†, unemployed and impecunious migrants from the Midwest, traveled to California in search of a dwelling and an occupation. All of them aspired to be wealthy and have all the fancy goods and chattels inRead MoreEssay on American Dreams and Its Depiction in `of Mice and Men.508 Words   |  3 PagesThe phrase `Of Mice and Men, was first used by James Truslow Adams in his book The Epic of America in 1931. The American Dream is a dream of a land in which life should be better, richer, fuller and with opportunity for each. It is a dream of social order in which each man and woman should be able to achieve the fullest stature of which they are capable of, and be recognized for what they are, regardless of the circumstances of birth or position. It ideally constitutes life, liberty,Read MoreThe American Dream in Steinbecks Of Mice and Men Essay2971 Words   |  12 PagesThe American Dream in Steinbecks Of Mice and Men Of Mice and Men is a story set during the 1930s America, this was a time when the great depression had hit the world. This novel was written by John Steinbeck who had based most of his work in the story location. The main aspect of this story evolves around the American dream, and how it is perceived by the characters. The American dream is an expression for everything great in life; it is based on a dream that has

Marketing Communication Functions

Question: How Supporting Marketing Communication Functions Will be Utilized to Maximize Effectiveness? Answer: How Supporting Marketing Communication Functions Will Be Utilized To Maximize Effectiveness At Toys R US it is our critical goal to eradicate interference of emerging informational technology gadgets such as mobile phones and television games and maximize our business returns. In our Integrated Marketing Communication (IMC) we are looking at all aspects of our selling activities and ensuring every area supports the next. In our marketing communication plan, we focused entirely on advertising since the company is doing well in other promotional mixes such as sales promotion and public relations. This essay serves two purposes. At first, it will show how advertising contributes to the current state of affairs of these promotional mixes. Secondly, it will provide an accounting budget for advertising at Toys R US Inc. Marketing communication functions will be used at Toys R US to streamline commodities development. For the past few decades, Toys R US has been using advertising strategies to generate products with the best opportunities of making proceeds. This is so because advertising mechanisms implemented by this organization start with conducting a thorough marketplace research, taking into consideration the level of competition, optimal target customers as well as emerging trends. The company will, therefore, use this information to determine the looked-for benefits by the buyers, and what they are willing to pay for the company toys. This way Toys R US will differentiate products from those of competitors (Kitchen, 2009). Marketing communication functions will be utilized at Toys R US to determine optimal prices for products. Information gathered from the marketing research will be used in this case to set the best prices for toys. These prices will be set in accordance with the data collected in the marketing research. If the toy buyers want a higher-end commodity in our category, our pricing plan will require us to sell our brands at prices that generate a higher-end perceived value. If we realize that our targeted customers are bargain conscious and prepared to accepts less bells and whistles on Toys R USs commodities in exchange for paying less, our pricing stratagem will impel us to sell at or beneath the competitors prices (Hodgson, Willows, European Council of International Schools., Council of International Schools, 2010). Marketing communication functions will be used at Toys R' US to establish an efficient distribution mechanism of commodities. The moment we know our brand features we shall provide, who our primary customers are, and our pricing echelons, and select the best terminals to sell our toys to optimize our marketing effectiveness. Younger buyers will most likely start their toy shopping online using smartphones, and use online-based payment schemes such as PayPal or credit cards. Their parents or older customers may prefer to buy the toys at retail shop outlets. If our market analysis discloses that we need to operate in retail to tap many clients, but we lack sales force in the region, we shall utilize distributors and wholesalers. Marketing communication functions will also be used to create the brand of the company. This includes corporate image of the business as perceived by external publics. Product development processes through advertising will prompt the general publics to expresses their views how they feel about the company and in overall the products dealt in. Information gathered in their feedback will be used develop the corporate image of Toys R US Inc. as well as its reputation (Lockhart, 2011). Besides, marketing communication functions will be utilized to bring about solidarity and teamwork at Toys R US Inc. Ideally, marketing strategies will incentivize, company departments to work collaboratively because they will all be working on the same strategy. For instance, the advertising specialists will talk to the products development personnel to decide on what message should be disseminated to the customers about the benefits they reap from the company products. Salespersons will liaise with individuals responsible for preserving the corporate image and decide whether they can offer goods at discounts, rebates or coupons without tarnishing the reputation of the firm (Jenster, Smith, Hayes, 2005). Accounting budget for advertising at Toys R US TYPE OF CAMPAIGN ANTICIPATED SUB-TOTAL Percentage Countrywide Advertising $1,000.00 3% Local Advertising $5,100.00 9% Public Relations $600.00 1% Content Advertising $12,500.00 22% Social Media platforms advertising $5,500.00 10% Online advertising $2,400.00 5% Web-based advertising $5,400.00 10% Market Analysis $3,800.00 7% Sales Campaigns $5,600.00 9% Others $2,165.00 5% $109,430.00 After determining the net annual budget for advertising, the company aims at aligning the budget with the primary marketing objectives. However, the company anticipates that the expenses will fluctuate from month to month and as such all categories listed in the budget are flexible and the allocated values will be changed depending on the prevailing economic conditions. References Hodgson, A., Willows, D., European Council Of International Schools., Council Of International Schools. (2010).Effective Marketing, Communications, and Development. Melton, Woodbridge: John Catt Educational. Jenster, P. V., Smith, D. E., Hayes, H. M. (2005).Managing Business Marketing Sales: An International Perspective. Frederiksberg: Copenhagen Business School. Kitchen, P. J. (2009).Marketing Communications: Principles And Practice. London: International Thomson Business Press. Lockhart, J. (2011).How to Market Your School: A Guide to Marketing, Communication, and Public Relations for School Administrators. Lanham, Md: Rowman Littlefield Education.