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Businesses, like everything else in this world, is affected by the way the economy turns. During good economic trends, businesses seem to boom, and every one seems happy and satisfied with their circumstances. On the other hand, once the economy goes south, some businesses start to head south as well. Financial burden starts to overtake what once held peace (Justiniano & Preston, 2006). But not all companies will suffer during a recession, and not all companies' business will boom during good economic times.
When one thinks of a bad economic era, one thinks of businesses closing down, of people losing their jobs, and finances being out of control. Once the economy goes down, people feel insecure about everything around them. They hold on tighter to what they have and fear losing everything; it's as if they enter a state of shock when financial insecurity...
And it is this train of thought and action that affect the businesses around them (Gohmann, 2008). Consumers stop buying like they used to and so businesses, whether local or national, all take a hit. Small businesses that used to make their money from the local shoppers, now have to close down because there simply are not any people buying from them. They are not like the big businesses and franchises that order in huge amounts of bulk. They order just enough to meet their local demand, and if that local demand is no longer present, then they are forced to close down because of the downward economy (Acs et al., 2008).
On the other hand, there are those businesses that actually boom with a falling economy. Companies such as Family Dollar and Wal-Mart actually gain business when everyone else loses it. Consumers no longer have…
On the other hand, there are those businesses that actually boom with a falling economy. Companies such as Family Dollar and Wal-Mart actually gain business when everyone else loses it. Consumers no longer have the luxury of buying retail; they look for a bargain, and stores such as Wal-Mart and the main franchised Dollar Stores actually see a rise in their profit levels (Acs et al., 2008). Consumers still want to buy, they need to buy. People still have their needs, so they save whatever extraneous money they have, and buy things either on sale, or at discounted rates with more frequency. Another business that also booms during a bad economy are fashion stores that offer clothes, shoes, and socks at more than half the retail price. It is because the economy is bad that people often look at alternatives to buy clothing. Stores that might have been labeled as having clothes that are no longer in style or as fashionable, now have people shopping there because they cannot afford to pay retail value for their necessities (Gohmann, 2008). In turn, these stores such as Marshalls and TJMaxx are having more money come in which allows them to expand what they have to offer, and in exchange, they get even more customers to purchase their clothing, household items, and footwear there (Justiniano & Preston, 2006).
These stores though could easily reverse its profits when the economy goes up. We live in a society where people always want more and if they could afford more, they will go and purchase the better brand, or the better item. So once the economy starts to build itself up again, these businesses that were once booming during a recession, are now going to falter when consumers start to have more money (Justiniano & Preston, 2006).
Companies that used to be able to afford multiple large buildings to house their hundreds of employees, no longer have the
Confidence in Hong Kong's legal system is a direct result of its links with the rest of the world. if, in our haste to use Chinese, we change the standard and the meaning of the law, and non-Chinese speakers get pushed out of practice, then we risk losing those links.' The traditional Chinese structure has focused on mediation for civil and commercial cases, with lawyers widely viewed as troublemakers, and
Business report compares the two Australian service providers where by various aspects are critically looked at in respect to the design elements of a retail store environment. The elements are categorized into exterior facilities, general interior, store layout, interior displays and the social dimensions. Each of these design elements are categorically looked into differently taking into account the services being offered by the two chosen service providers namely Fadez Barbershop
Having this traditional silo-structured environment makes it very difficult to properly develop a curriculum surrounding service management. Because of this there is a significant gap that exists between the education received by business school graduates and the skills that they need to succeed in today's service heavy environment. Non-traditional Business Skills and Tactics Nontraditional business skills are often referred to as soft skills or people skills. These consist of the ability
D.). When a company deals with its purchasing in unethical ways, it cannot suppose its suppliers to be trustable associates and guarantee business continuity. If one doesn't align with something, they shouldn't expect others to do it either. This weakens the entire value chain making it less aggressive in the market. Hence it is important for both buyer and supplier to connect in ethical dealings in their transactions (Ethical Buying or
The most significant purposes comprise: persuading actions of the members of a culture, resolving disagreements inside the culture, upholding significant social values, and providing a way for social change (Meiners, Ringleb and Edwards, 2009). Canadians are recognized for their logic of fair play, their admiration for working people, and for their devotion to the rule of law. These principles are reflected in the legal system governing Canada's businesses (Phillips,
In the case of electronic ticketing, while the overall risk of the actual process of electronic ticketing has proven to be minimal for implementation, it is still very important that we run risk evaluation tests in order to see if the integration of the model of electronic ticketing will gel into out company structure as well as it has for other business structures. Each of these eight areas is established