GDP Growth Rate and Economic Future of United States

GDP Growth Rate and Economic Future of United States Business Recommendations Based on Economic Projections Business recommendations basing on projections are very core in the achievement of the expectations or even better the achievement in terms of time and profitability. The company’s projections which cover a period of five years shows that the business needs to be expanded and at the same time increase the profits.Advertising We will write a custom essay sample on GDP Growth Rate and Economic Future of United States specifically for you for only $16.05 $11/page Learn More In order to achieve this milestone, the company must make some decisions which will catapult the attainment of these expectations. The various perspectives of future projections therefore provoke decisions that govern the same set objective. Larson’s future expansion plan clearly shows that the company is faced by challenges throughout its life cycle and therefore there should be decision to act as antidotes during challeng ing times and better the performance during the most profitable or maturity stage of the business (McConnell, Brue Flynn, 2009). The decisions that are appropriate for the company therefore go hand in hand with the projections. GDP Growth Rate in United State The positive increase in the GDP in the fourth quarter should be maintained. For maintenance of this it is in order that the following decisions are necessary; the personal consumption should be encouraged through quality products and price incentive for the clients, improving exports through extensive marketing outside USA and encourage private investors so that the running capital is increased (Bureau of Economic Analysis, 2009). GDP Growth Rate in United State The GDP of Germany increased by 0.7% in the last quarter of the previous year. The upward trend can be maintained or even made better through the use of various strategies. First the company greatly depends on export as the main economic pillar. It is recommendable th erefore that the export policies that encourage export should be implemented, these include better relationship with other countries and increase of market across the world. The goods being exported can be diversified at the same time exploration of internal market to increase or maintain the GDP (Global Finance, 2010).Advertising Looking for essay on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More Consumer Loyalty Consumer loyalty is largely based on their confidence on the company’s products. The best way therefore for the company to win and maintain consumer base is to ensure that the quality of the product is up to the expectations of the consumer. Customer support relations should be implemented such that the clients’ views and recommendations gathered and implemented. This helps the clients to feel part of the company and therefore increase their loyalty and consequently the customers will im prove their willingness to spend (Bea, 2010). Economic Future The economic future of the company is based on proper decision making at every phase during the company’s life cycle to ensure that there are enough measures put in place for instance during the growth stage, marketing is very instrumental and customer promotion is also key. Expansion The expansion of the business should be based on adequate research of the market. It is important to carry out an extensive study about the competitors also so as to have enough information. The management should also carry out efficient site survey to ensure a strategic position to capture the market. The quality of production in the new plant however should be maintained to ensure a good brand name in the market and thus increase consumption, increasing the revenue of the company. U-SHAPED Economic Future This has projected a reduction in the sales in the following year. It is recommended therefore that the company should ensure tha t their consumers are given incentives so as to encourage them to buy the goods. Due to lack of loans the company should seek for external investors who are willing to buy in order to increase the sales. The company should also introduce credit facilities since this will help in increasing sales during the times when the client are financially disadvantaged. Alternatively the company’s production should be shaped to fit the demand to save on cost of production by avoiding over production (Orit James, n.d).Advertising We will write a custom essay sample on GDP Growth Rate and Economic Future of United States specifically for you for only $16.05 $11/page Learn More The V-SHAPED Economic Future The cost of fuel-cell plug in vehicles should be made lower during the introductory stage so that it can attract more consumers in the rather competitive field and overpower the alternative sources. Marketing of the products’ superiority over the current battery is of importance and therefore the company can maintain some static performance before capturing the market and increase drastically. W-SHAPED Economic Future The intermittent future of the company can be evaded through exploration of alternative production of cheaper batteries to gather for the demands throughout all the seasons. The company should put in place measures such as price regulation, incentives and credit facilities during the moments when the company is experiencing downward trend. During the times when the company is on an upward trend they should invest in winning a brand in the market through the use of quality and rebranding where possible. The production also should be in tandem with consumption. The company should also explore exporting their goods to other countries and thus increase market base to aid during the times when the performance is low (Virts, Garrett, 1970). The W-Shaped economic future, details a recovery cut short by recession, then a seco nd rebound. The slowdown in this unstable economy has created a major problem for Larson to cut back on business expansion to other countries. In conclusion it is important to develop efficient measures to ensure that destructive anticipations are averted while positive projections are promoted (Robbins Judge, 2007). References Bea. (2010). U.S. Department of Commerce Bureau of Economic Analysis. Web. Global Finance. (2010). Germany Country Report:GDP data and GDP forecast. Web.Advertising Looking for essay on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More McConnell, C.R., Brue, S.L., Flynn, S.M. (2009). Econmoics: Principles, Problems, and Policies. New York, NY: McGraw-Hill Irwin. Orit, G., James, L. (n.d). Profit Pools: a fresh look at strategy. Harvard Business Review, 76(3), 139. Robbins, S., Judge, T. (2007). Organizational Behavior (12th ed.). Upper Saddle River, NJ: Prentce Hall. Virts, J.R., Garrett, R.W. (1970). Weighing risk in capacity expansion. Harvard Business Review, 48(3), 132.

The Sociological Perspective - How to Think Like a Sociologist

The Sociological Perspective - How to Think Like a Sociologist Sociology can be defined simply as the study of society, but the practice of sociology is much more than a field of study it is a way of seeing the world. The sociological perspective involves recognizing and evaluating the effects of social relationships and social structures and forces, considering the present day in historical context and takes for granted that society is socially constructed and thus changeable. It is a perspective that fosters critical thinking, the posing of critical questions, and the pursuit of solutions. Understanding the sociological perspective is crucial to understanding the field itself, social theory, and why and how sociologists conduct the research they do. Examining Social Relationships When sociologists look at the world and try to understand why things are the way they are, they look for relationships, and not just those between people. They look for relationships between individuals and the social groups they might identify with or be identified with, like those of  race, class, gender, sexuality, and nationality, among others; connections between individuals and the communities they live in or are  affiliated with; and, relationships between individuals and institutions, like media, religion, family, and law enforcement. Within sociology, this is known as looking at the connections between the micro and the macro, or the  individual aspects of social life, and the  large-scale groups, relationships, and trends that compose society. Considering the Effects of Social Structures and Forces Sociologists look for relationships because they want to understand the causes of trends and problems in society so that they can make recommendations on how to address them. At the heart of sociology is the recognition that social structures and forces, like those described above and others too, shape a person’s worldview, beliefs, values, expectations, sense of what is normal, and right and wrong. In doing so, social structures and forces shape our experiences, how we interact with other people, and ultimately, the trajectories and outcomes of our lives. Most social structures and forces are not immediately visible to us, but we can find them when we look beneath the surface of everyday life. Introducing students to the field, Peter Berger wrote, â€Å"It can be said that the first wisdom of sociology is this- things are not what they seem.† The sociological perspective urges us to ask the unasked questions about the things we consider normal, natural, and inevitable, in order to illuminate the underlying social structures and forces that produce them. How to Ask Sociological Questions Sociologists seek complex answers to what many would consider simple questions. Berger suggested that there are four key questions at the heart of sociology that allow us to see the connections between everyday life and social structure and forces. They are: What are people doing with each other here?What are their relationships to each other?How are these relationships organized in institutions?What are the collective ideas that move men [sic] and institutions? Berger suggested that asking these questions transforms the familiar into something otherwise unseen, and leads to â€Å"a transformation of consciousness.† C. Wright Mills called this transformation of consciousness â€Å"the sociological imagination.†Ã‚  When we examine the world through this lens, we see how our current moment and personal  biographies sit within the trajectory of history. Using the sociological imagination to examine our own lives, we might question how social structures, forces, and relationships have given us certain privileges, like access to wealth and prestigious schools;  or, how social forces like racism might make us disadvantaged as compared with others. The Importance of Historical Context The sociological perspective always includes historical context in its view of society, because if we want to understand why things are the way they are, we have to understand how they got that way. So, sociologists often take the long view, by, for example, looking at the shifting nature of the class structure over time, how the relationship between the economy and culture has evolved over centuries, or, how limited access to rights and resources in the past continues to impact historically marginalized people today. The Empowering Nature of the Sociological Perspective Mills believed that the sociological imagination could  empower people to make change in their lives and in society because it allows us to see that what we often perceive as â€Å"personal troubles,† like not making enough money to support ourselves or our families, are actually â€Å"public issues†- problems that course through society and are a product of flaws in the social structure, like inadequate minimum wage levels. The empowering nature of the sociological imagination points to another fundamentally important aspect of the sociological perspective: that society and all that happens within it is made by people. Society is a social product, and as such, its structures, its institutions, norms, ways of life, and problems are changeable. Just as social structures and forces act on us and shape our lives, we act on them with our choices and actions. Throughout our daily lives, in mundane and sometimes momentous ways, our behavior either validates and reproduces society as it is, or it challenges it and remakes it into something else. The sociological perspective allows us to see how both outcomes are possible.