Abstract This paper studies how businesses are affected in times of economicrecessions. The paper discusses globalization and how it has brought about the liberalization of economies and the interconnectivity of national economies. The paper also explains how this means that risks and effects can travel more quickly. The author characterizes economicrecession as a decrease in the rhythm of economic growth in a country and gives suggestions for how businesses can combat the contraction of growth and decrease in consumer spending.
From the Paper "Outsourcing to India and China has become the apparent optimal solution to resolve high labor prices in Western countries. In an economic recession, along with the movement of products and services to third countries, labor demand will also move to these countries. The only potential problems that may arise are related to the cultural differences with these third countries, as well as with the managerial differences and inaptitude in this sense of many of the managers in India, for example. This can generally be solved with training sessions, with the presence of a Western manager among the team, who can also play the role of a trainer, etc."
Tags: research and development, financial markets, outsourcing investments
The paper attempts to show how economicrecession and the forces active during such a period, can be utilized to minimize the damage caused by the recession and benefit companies.
Abstract This research paper discusses various topics relating to recession marketing including the following: a brief synopsis of the 2007-2008 economic crisis, advantages of a recession, marketing convenience products, marketing luxury products, survival tactics, a marketing strategy plan, and some recommendations on recession marketing. The paper does not focus on the implications of the recession as much as the objectives of companies during a recession. The paper explores briefly international marketing, but primarily focuses on marketing in the United States. A graph and a diagram are included with the paper.
Outline:
Introduction
Purpose and Scope
Statement of the Problem
Background
Methods
Limitations
Advantages of a Recession Marketing Convenience Goods
Thriving Goods
Marketing Factors to Consider For Coming Year
Marketing Luxury Goods
Developing a Recession Marketing Plan
Assessing External Factors
Assessing Internal Factors
Strategy Determination
Review and Control
Marketing Tactics
Anticipating Competitors
Value
Quality
Customer Focus
Communications
Promotion
Conclusions and Recommendations
References
From the Paper "Quality cut downs may not be noticeable in the short-run but in the long run consumers will notice if a company feels tries to save some money by cutting down on the quality of their products. If a company has developed a successful, great brand experience there is no reason in risking that by cutting down on the quality of your products and services. When a company is running a service there is usually give dimensions that quality is based on, the first being reliability which is the need to make sure the service is being performed dependably, and accurately. The second dimension is tangibles which are things like physical facilities, equipment, personnel, communication materials, etc. The third dimension is responsiveness, as the company needs to make sure they are giving the customer the most adequate service, as well as promptly giving that service. The fourth dimension is assurance, which is when a company conveys trust and confidence so the consumer does not have to worry about their service being completed. The last dimension is empathy; because consumers do not want an uncaring person handling a mistake when they are stressed enough, but much rather have a caring employee deal with the matter. All of the quality dimensions are really focused around keeping your product or service where it has been without raising costs, as well as keeping a healthy customer service sector on board to work through troubling economic times where consumers do not want to worry about services that have been loyal to them in the past. (Hartlet et al., 2008, p. 34,36,121) (Hollis, 2008, p. 3-4)"
Abstract This paper provides an in-depth look at the Japanese economy before and after the collapse of the Tokyo stock-market which occurred at the start of the current recession. It shows how Japan was considered to be the perfect economy and idealized by the West with regard to its statistics on growth, unemployment and productivity. Causes of the collapse are analyzed. The writer presents many statistics about the current economic state and looks at the government's plans to boost the economy.
From the Paper "The revisionists asserted that, in contrast to the open-market capitalism of the "Anglo-American" model, Japan practiced a unique form of state-directed insider capitalism. Under that model, close relationships among business executives, bankers, and government officials strongly influence economic outcomes. By strategically allocating capital through a tightly controlled banking system, they argued, Japan would drive foreign competitors out of sector after sector, leading eventually to world economic domination. (Thompson, 1997)
"Sooner or later, the United States must come to grips with the fact that Japan has become the leading industrial nation in the world. The Japanese have the longest life span. They have the highest employment, the highest literacy, and the smallest gap between rich and poor. Their manufacturing products have the highest quality."
Abstract This paper hypothesizes that the economic difficulties currently encountered by the United States are not just a temporary shortage but rather represent the path to recession and that the economicrecession in the U.S. not only affects the citizens of America but also citizens of other countries. The author describes the use of secondary data as the data collection plan. This data is presented in bullet point format. The paper concludes that this data is valid; thereby, the author concludes that the U.S. recession does effect the global economy.
Table of Contents:
Introduction
Research Hypotheses
Data Collection and Organization
Data Collected on U.S. Economic Status
Data Collected on the International Impact of the American Recession Validity of Data
From the Paper "The employees in the foreign countries directly working with the American multinationals will also be affected as the payment capabilities of the U.S. organizations will decrease; ergo, the outsourced jobs could also become reduced, generating decreased living standards and increased unemployment rates in the foreign countries.
"The global growth was based on large amounts of liquidities, held by the American banks as a results of corporate deposits - money derived from consumers' purchases."
Abstract A look at the current recession and how it could be avoided. This paper uses quotes and facts about historical U.S. recessions to discuss the current recession. It sheds light on why the U.S. headed towards the recession and describes in detail how it got into this recession and what needs to be done to get out of it.
From the Paper "Talking about a recession on Wall Street is like telling your wife she has put on a little weight, it just shouldn"t be done. Although this holds truth, the topic has been difficult to avoid over the past six months. After nearly ten years of financial growth, many economists believe that the U.S. economy may be poised for a recession. While many want to point the finger at certain prominent citizens or political groups, a recession can"t be blamed on a single person or action. The most important question is what actions can be taken to avoid a recession. It could be difficult, but there are many different procedures that can be taken to keep our economy on the road of economic prosperity."
Abstract This paper explores the recession that the United States is now experiencing, and how it affects everything from large business like the airline industry to paying for tonight's supper . The author also discusses how we can prevent or slow down future recessions. The paper focuses the recession on a microeconomic scale, applying it to the author's own Western Kentucky.
From the Paper:
"The recession has impacted almost everyone in our surrounding community, whether they were impacted directly or indirectly. It has impacted local small businesses, large industries and companies, as well as individuals and families. All people in the economy are impacted by a recession. However, from the current information that I have obtained, it looks as if the economy is on the rise and will soon be back to normal. Recession is a serious issue, but hopefully our current let down in economy has been a learning experience and next time we will be better prepared and can prevent an equal disaster."
Abstract This paper is an in-depth analysis of the affects of September 11th on the Japanese economy. Several different factors contributing to the deepening recession in Japan are examined in detail, including unemployment statistics, the findings of the Bank of Japan's Tanken survey, suicide figures and corporate restructuring. The changes in people's behavior, including expense accounts, dress and spending habits as a result of this recession and the change in Japan's credit rating and its affect on how government policy is affected by this change are also discussed in detail. The author also presents some of the government's policy attempts at dealing with this problem including new economic policies, tax reform, privatization schemes and the restructuring of the banking system. The effects that this has had on Japan's relations with China, especially in its trade relations are also discussed in detail.
Extensive bibliography but no footnotes, or endnotes.
From the Paper "According to a recent article in Bloomberg News entitled "Think Japan's Economy is Bad Now" Just Wait,? the situation will only get worse.' ? ?It's here where things get ugly,? ? the article states. ? ?As unemployment rises beyond today's record 5 percent, consumers may spend less. If already frugal households buy less, corporate profits fall further and so do asset values. Banks, then, may be forced to let more companies fail, boosting unemployment and reducing corporate profits. And so on and so on.? ? This is the very cycle Japan's policy makers have been dreading for years. To date, Tokyo has held things together with ultra-low interest rates and aggressive fiscal spending. Now that borrowing costs are at zero percent and Tokyo has papered markets with more bonds than investors can use, that's no longer possible. Credit rating agencies are sniffing around Japan's finances, wondering if it's time for another downgrade."
Abstract The paper discusses the U.S. recession and its impact on global economy, which has led to the weakening of the American economy.
The paper notes that this is not only affecting U.S. citizens, but also the citizens of other countries. The paper proposes a research analysis to establish the degree to which the American economicrecession is actually affecting global stability and outlines the areas and categories that should be investigated.
From the Paper "Statistical documents and information should also be analyzed. Data before the recession should be compared against current data. This information would basically try to identify the nature of the international relationships the U.S. had with various countries. The international balance sheet should also be looked at from a chronological comparative stand point. It would reveal if and exactly how the trade of goods and services had modified since the beginning of the economic downfall. The primary limitation of this approach is that the work is tedious and special skills of data processing are required".
This paper provides a brief synopsis of South Korea's economic history leading up to its current economic crisis, as well as a few thoughts on South Korea's economic future.
Abstract In this paper the author looks at how the currency of South Korea, the won, de-valuated greatly against the American dollar. The author looks at how this devaluation affected South Korea's economy in that several of its businesses are on the verge of bankruptcy, unable to repay their massive foreign and domestic debts. The author looks at the request by South Korea for help from the International Monetary Fund (IMF) and the proposed plan by the IMF. In conclusion, the author states that there are clearly two parties of thought, some who believe the IMF plan will work and South Korea's economy will blossom and others who believe it will continue to deteriorate.
Table of Contents
Introduction
U.S. Involvement in South Korea's Economic Development
South Korea's Basic Economic Structure
The Fall of South Korea's Economy
The International Monetary Fund
Prognosis
From the Paper "The economic strategy emphasizing exports had produced a shortage of domestic consumer goods that was exacerbated by the increasing demands brought about by rising wages and the advance in living standards. Price controls imposed on producers of consumer goods discouraged the manufacture of these goods, and the rapid inflow of dollars expanded the money supply and inflation became a serious problem.
President Park addressed these problems by replacing the economic team in December 1978 and adopting stabilization measures. However, these methods caused a recession, produced a series of bankruptcies among small and medium loan-dependent enterprises, and increased unemployment. This situation was similar to Korea's current economic problems. However, foreign aid continued to flow into the country and the government and large companies were able to continue servicing their debts."
Tags: empire, budget, government, recession, unemployment, loans, crisis, national
Abstract This paper defines economic indicators, which determine whether the economy is in an inflationary or a deflationary cycle. These factors assist economists in make their predictions and government officials in determining economic policy. The uses of various models also are discussed.
From the Paper "Economic indicators are used to measure the financial health of the economy. There are many methods and tools for measuring the economy and every economist has his favorite method. The health of the economy is measured by tracking certain indicators. Different economists use these indicators in various combinations. Some economists place more or less weight on different ones in making their predictions about which direction the economy will go. It is important to note the differences in measurement when assessing the opinions of popular economists of today."
Abstract The author of the paper examines managerial economics and the significant growth in interest from two points of view: the need for managers to make smarter business decisions and the pressure on managers to maximize profits. The paper examines managerial qualities needed by a successful manager and the role of leadership and managerial education in the progress of a business venture.
From the Paper "Lately many companies are feeling the pinch of reduced business activity. Customer orders at an all time low, but the scrutiny for management decisions is on the rises. Suppliers and lenders are seeking safe, low-risk investments. As a result, it becomes increasingly important to do more with less, compete effectively for limited credit, and reassure stakeholders and investors2. These normal pressures, coupled with the current state of the economy, has increased the complexity of the decision making process. Mangers are seeking out proven methods and tools to help make day-to-day decisions more error proof and transparent for the watchful eyes of shareholders. Successful managers are able to process several channels of information such as market conditions, decisions by the competition and the current and future state of their industry. The successful manager is able to utilize all sources of information and formulate a succinct direction for the company. This requires intensive and extensive research that is often time consuming and stressful. Fortunately, the study of economic theories has produced formulas and tools to aid managers. One example is MathWorks. This tool is utilized by the fourth largest energy company in Spain, Union Fenosa. It helps manage their supply and demand for utilities. Union Fenosa has an electric generation capacity totaling 10,000 megawatts. Since the electricity produced can not be stored, it is vital to know how much to produce and when. To determine how best to sell electricity in the wholesale market, the company must accurately predict the next day's prices and demand as well as the availability of electric power. The Mathworks supply and demand models help to project capacity and demand and optimize their generation asset portfolios3. This is a perfect example of the application of economic concepts to create analytical tools in the assessment and prediction of market conditions and business environment. Examples like this have increased the interest in the study managerial economics and equally increase managers ability to make smarter decisions"
Explains India's economic performance by taking an in depth look at the economic, political and social change that has taken place within India during the postwar years.
2,900 words (approx. 11.6 pages), 5 sources, 2002, $ 106.95
Abstract This comprehensive study is aimed at the major economic, political, cultural and social changes and crises that have taken place within India during the period in question and it will attempt to assess the extent to which these factors have shaped the country's economic performance. Included in this analysis will be an assessment of economic development and social change, the economic and political aspects of agricultural change, as well as political change, political structure and the functioning of government. Attention will also be directed towards the caste conflict and language differences as well as the extent to which they have had an impact on the level of economic development that India has been able to achieve and the nature of this development. The main hypothesis that will be tested in this study will be the following: while India has achieved relatively significant economic advances during recent years, especially in light of the country's status as a Third World nation, these advances have been limited.
Abstract This paper reviews Diane Coyle's book "Sex, Drugs, and Economics," which uses far-reaching examples such as the sex industry, illegal drugs, and sports to illustrate basic economic concepts. Coyle's thesis is that economics can explain human behavior in virtually every sphere of human life. Her book attempts to show this through basic economic concepts, such as supply and demand. Economics also is helpful to make apparently inexplicable aspects of human life clearer, such as why persons engage in risky activities more as teens than during other periods of their life, or why people chose to take illegal drugs. The paper concludes by stating that Coyle's book makes economics more understandable through its original and refreshing format.
From the Paper "Coyle analyzes the drug industry to examine the ways in which the industry functions much like a legitimate market. For example, dealers give away free samples, like marketers do with new forms of soap or shampoo, to get potential customers addicted or 'hooked' upon the product. (9) However, despite the fact that up to 50 percent of Americans have tried some form of illicit drug, not all drug consumers become hooked--the core market of persons who are addicted drive the incentive of sellers to continue to supply their habit, and the lack of comparable substitute goods for growers that yield a competitive profit creates an incentive to maintain the supply of the drug. (10)"
Abstract This paper discusses the advantages and disadvantages of forming an economic union, and possibly a monetary union to which members could, subject to conditions, apply to join. Factors such as possible membership, timetable, trade and investment effects, convergence of economies, economic and social consequences and administrative structure are covered briefly, yet concisely. The experiences of the European Union/Monetary Union are used as support for the arguments which are presented in the paper.
Outline:
Introduction
Background of the study
The Aim of an Economic Union
The Disadvantages of an Economic Union
Economic Union and the Dilemma of Collective Action
Arguments Against an Economic Union
Advantages for an Economic Union
Conclusion
From the Paper "A vital question for the triumph of an economic union is whether the economic union placed by an autonomous, supranational central bank in addition to fiscal (and other) procedures managed by a national government is helpful not only to price-steadiness but also towards economic development. This concern related to an economic union stems mainly from the commencement of the euro during 1999. Since the Euro inception, there has been a constant flow of disapproval concerning the EU'S system for economic union and harmonization. The Stability and Growth Pact (SGP) - perhaps, the most well-known aspects of union -- has been constantly criticized by economists as an unimagined, dull and eventually counter-productive procedure that encourages pro-cyclic fiscal procedures, slows down economic revival and harms the durable growth prospective of the EU financial system. In addition, accusation has also been cited, quite frequently, against the incapability of the policy structure to provide a logical policy blend, as well as, laments the deficient of suppleness in policy management (Fitoussi and Creel, 2002)."
Abstract Paul Krugman's book, The Return of Depression Economics, examines the economies of seven different countries that produce the majority of the economic output of the world, and how each has been affected by major economic slumps throughout the world. This interesting yet very complicated book offers a tour of the major economic crises which have spread across the world in the 1990s, including those of East Asia, Brazil, Mexico, and Russia. Paul Krugman provides brief accounts of the devaluation of Thailand's baht currency, the "financial doomsday machine" created by hedge funds, and the "liquidity trap" of the Japanese economy. Krugman's light journalistic style is easy to read for the most part and is well-targeted at his intended audience. Many of the nine chapters stand very well on their own as slightly extended versions of what is known in the US as op-ed pieces. For example, the chapter on hedge funds contains as clear an explanation of the operation of such funds as a layman could get anywhere. It also contains a number of brief, enlightening and well-written stories under sub-headings like 'The Legend of George Soros' and 'The Madness of Prime Minister Mahathir', and concludes with 'The Panic of 1998' which outlines the demise of Long Term Capital Management. In other chapters there are equally succinct and fascinating stories concerning Mexico, Argentina, Thailand and so on. Some of these extracts ought to make very useful reading to stimulate discussion on undergraduate macro, international or development economics courses. It is the purpose of this paper to examine the major themes of Krugman's book.
