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Sensitive Business Cycles
Between general autos and general pharmaceutical firms, general autos firms are more sensitive to business cycles. Since the purchases in the auto industry are more discretionary compared to the pharmaceuticals, the general autos firm will be more sensitive.
Between Friendly Airlines and Happy Cinemas, the Friendly Airlines will be more sensitive to business cycles. The reason is that traveling expenditure is more sensitive to changes in the business cycle compared to entertainment expenditures such as the purchase of movie tickets.
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Cost of Labor
The firm that uses a highly automated and robotics process has a fixed cost of labor, while the firm that makes use of human workers in the assembly line has a variable cost of labor.
In the case of a recession, there is lower demand and, therefore, lower production levels. The firm that uses robots has a fixed production cost and, therefore, their profits reduce with the slow economy. On the other hand, the firm that uses human workers can reduce their variable labor cost to ensure a constant profit margin. Therefore, in a recession, the firm with human workers will have higher profits.
In the case of a boom in the economy, the level of demand increases, and there is a higher level of production. In this scenario, the firm using human labor on the assembly line increases their costs in order to meet the demand. As such, their labor cost increases. Conversely, the firm using robots does not have to increase labor costs and therefore does not change labor costs to meet the increased demand. Therefore, in a boom, the company with an automated assembly line process will have higher profits.
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The beta of a stock refers to a measure of risk associated with the particular stock in lieu of an index stock in the market (Bodie, Kane, & Marcus, 2013). In the case of the two companies, the firm using an automated process will have a higher beta. The reason behind this is the increased efficiency which ensures it outperforms both the market and its competitors during a boom and outperforms their competitors during normal conditions.
Reference
Bodie, Z., Kane, A., & Marcus, A. J. (2013). Essentials of Investments. New York: McGraw-Hill/Irwin.
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Monetary Policies
Monetary policies refer to practices of money management by the government of a given economic region. In the case of a deep depression, all or the majority of the macroeconomic indicators in a given economy move into the negative (Bodie, Kane, & Marcus, 2013, pp. 380 – 381). In such a situation, the monetary policies that such a government may engage in include printing of more money, trading in the open market, and reduction of interest rates.
On the other hand, fiscal policy refers to actions by the government taken to correct economic conditions through a control of government spending (Bodie, Kane, & Marcus, 2013, pp. 379 – 380). In case of a deep depression, the government may engage various fiscal policies to control the effects of the deep depression. Such fiscal policies include a decrease in the tax rate and an increase in direct government spending such as on infrastructure projects. Such spending should increase employment, production levels, and aggregate demand, which will be instrumental in reversing the effects of the deep depression.
Reference
Bodie, Z., Kane, A., & Marcus, A. J. (2013). Essentials of Investments. New York: McGraw-Hill/Irwin.
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Redistributive Tax System
Supply-side economists hold the belief that the introduction of a redistributive tax system would go against the goal of expanding the long-term economic growth over time. Their explanation is that the redistributive tax system would improve the disposable income of the low-income earners. This would have the effect of making the low-income earners more comfortable with working at lower wages, making the goal of expanding economic growth difficult to achieve.
A tax designed to alter the distribution of income or wealth. In practice, the redistribution is usually in the direction of greater equality, but history has recorded rulers who have used taxation to redistribute in their own favour and hence to increase inequality. A system of lump-sum taxation under which some consumers pay positive taxes while others receive subsidies is redistributive: it reduces income inequality if the subsidies are received by low-income consumers and positive taxes are paid by high-income consumers. The redistributive effect of the tax system can only be found by considering the net effect of all taxes; the redistributive effect of government intervention in total must take into account all transfers and taxes.
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Financial Leverage
Financial leverage affects the sensitivity of profits to a business by decreasing the level of profits retained by the business during downward economic cycles. During periods of economic expansion, the business is able to service the financial obligations with relative ease. However, since it is a fixed cost, the business may struggle to keep up with the payments during the period of depression (Bodie, Kane, & Marcus, 2013). As such, financial leverage increases the sensitivity of business profits for a business concern.
Operating leverage refers to the division between fixed costs and variable costs. The higher the fixed costs the business has, the greater the sensitivity the firm will have to business profits (Bodie, Kane, & Marcus, 2013, p. 391). During times of economic downturns, the businesses with more variable costs can achieve better margins than those with higher fixed costs owing to fewer swings and fixed operating leverage demands. Therefore, operating leverage affects the sensitivity to business profits.
Reference
Bodie, Z., Kane, A., & Marcus, A. J. (2013). Essentials of Investments. New York: McGraw-Hill/Irwin.
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The slope of the yield curve is considered a leading economic indicator. A yield curve plots the relationship between the yield-to-maturity and the term to maturity of a bond (Bodie, Kane, & Marcus, 2013, p. 322). The curve presents the term structure of interest rates and, therefore, presents a view of the expected movement of interest rates. Such future views allow for economists and monetary authorities to predict the movements of the economy. Therefore, the yield curve is a leading indicator because it is indicative of an economic variable that changes before the actual cyclical change occurs.
Reference
Bodie, Z., Kane, A., & Marcus, A. J. (2013). Essentials of Investments. New York: McGraw-Hill/Irwin.
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International Marketing
Marketing continues to be one of the significant aspects of modern day businesses. This function is one that has led to the establishment of marketing departments in business and organizations. This is an indication that indeed, marketing is a vital element of any business. Whether there are good or bad economic times, marketing remains a pivotal operation in any industry or business.
Being able to determine and satisfy the needs of clients via products and services that have value and accessibility and whose qualities are well communicated is the primary target for any business. Production and marketing are two business functions that work hand in hand. This is because it is only through the output that a company can market their goods.
Marketing can be defined as the activity, combination of institutions and processes that are aimed at developing, communicating, delivering, and exchanging offering that possesses value for customers, partners, and the general society (Class notes). Another definition is that marketing is the supervision procedure that is responsible for recognizing, forestalling, and fulfillment of customer needs profitably. In this case, there will be a look at mobile marketing and how it has succeeded in China.
Before that, it is critical to understand the meaning of international marketing. According to Ghauri and Cateora, international marketing can be defined as the conduction of business activities that control the flow of a company’s goods and services to customers or users in more than one country for a profit. In China, it is essential to acknowledge that mobile marketing has been widely embraced.
It is vital to recognize that indeed, mobile phones have been said to present a potential for marketers to have a connection with their customers through the online channels. With the increase in the use of mobile phones, companies have been presented with a chance to change the way that they interact with their clients.
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According to (Session 2 Notes on culture), culture can be defined as the learned, common, compelling, and interconnected set of symbols whose meanings present some orientations for members of the society. When these orientations are combined, they offer solutions to issues that all communities must solve if they are aimed at remaining viable. The notes indicate that there are three essential components of culture.
These include beliefs, values, and customs. Going through the notes, one is enlightened that there are several factors that influence culture. These include language, religion, aesthetics, education, law and politics, technology, and social organizations.
Soares et al. (2006) stipulate that the growth of investigations addressing the connection between culture and consumption is exponential. Through this source, one is drawn to the fact that culture comprises the broadest influence on multiple dimensions of human behavior. The primary definition of culture as provided is that culture is the complicated whole which involves acquaintance, belief, art, ethics, tradition, and other capacities and habits that are embraced by man as a member of a community.
It is critical to acknowledge that indeed, culture is entirely different from other macro-environmental factors. Soares (2016)indicates that there are various scholars who have discussed the scopes that are most suitable for hypothesizing and operationalizing culture. However, the most outstanding dimensions are developed by Hofstede. In this case, Hofstede presents five magnitudes in his framework. The first of these is individualism-collectivism which illustrates the connection people have in each culture.
The second dimension is uncertainty avoidance which can be used to refer to the level to which a person feels threatened by uncertainty and ambiguity. The third one is power distance which is a reflection of the results of inequality in power and authority connections in society. The next dimension is that of masculinity-femininity. The final one is long-term orientation which is a representation of the virtues that are driven towards future rewards, especially in perseverance and thrift.
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Du (2012) indicates that the Mobile Marketing Association illustrates mobile marketing as the utilization of wireless media as an assimilated content delivery and direct reaction driver within a cross-media or stand-alone marketing communications program. He further indicates that the prosperity of mobile data and communication gadgets such as iPhones has driven more concentration towards the utilization of mobile devices for communicating marketing.
Du demonstrates that the increase in wireless and mobile communications around the world has in no small extent shifted the manner in which people interact, access, and distribute information. He indicates that the technology acceptance model (TAM) has played a significant role in marketing literature to illustrate a person’s behavior connected to the adoption and use of technology.
Through his research, Du discovered several things. In China, there are different factors that are directly and indirectly drive mobile banking acceptance. These include the likelihood of giving information, the probability of gaining access to content, the possibility of sharing content, the extent of risk reception, and degree of personal connection to one’s mobile device.
Zheng et al. (2012) indicate that in 1986, Davis among other researchers came up with the TAM model to illustrate the factors that drive decisiveness to the broad acceptance of computer technology. Davis and other scholars concluded that there were two aspects that influence users to adopt information technology. The first factor is assumed usefulness.
This was seen as a reflection of the extent to which a person believes that utilizing a particular system would increase his performance. The second factor is perceived ease-of-use. This was said to be a reflection of the degree to which a person considers that using a particular system would be easy or difficult (Zheng et al., 2012).
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According to Hong (2013), with an increase in the mobile phone adoption, it is critical for companies to adopt the technology acceptance readiness (TAR) methodology to forecast the customer’s willingness to utilize mobile commerce. However, as Hong indicates, one of the major influencers of mobile marketing is mobile marketing acceptance. In this case, he suggests that mobile banking includes a “two-way or multiple-way communication and promotion to offer a company and its clients utilizing mobile phones as a form of communication.”
In the past few decades, the rapid development of smartphone technology and mobile networks has presented more opportunities for mobile marketing. Under this, there are three main components of mobile marketing which include prompt messaging and advertising, mobile applications, and mobile social networks.
In China, the fast food companies have been viewed to adopt the mobile marketing method. One of these companies that have adopted this strategy is McDonald’s. Lee (2018) states that the utilization of digital marketing, electronic payments, and delivery have aided McDonald’s to come up with a unique growth strategy in China and which could be adopted in the home market in the United States. Lee states that in China, the utilization of mobile payments has been a significant part of the development of e-commerce.
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In conclusion, it is vital to acknowledge that marketing is a function that has continued to prove its worthiness in various fields. Through marketing, companies have used this to gain competitive advantage. One of the backing factors is that the digital culture has been widely embraced in the society. To gain a global presence, international marketing has become widely adopted. Companies like McDonalds in China have adopted the mobile marketing strategy which has enabled them to remain competitive and have a broader digital presence. Such is a strategy that would be critical if all
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Cross-Cultural Marketing
Choose a topic from the wide area of cross-cultural marketing. Find and critically evaluate an article on cross-cultural marketing; please ensure that this is from a peer-reviewed journal. The topic could either be from an area that is of personal interest to you (e. g. something regarding your own company or your home country) or it could be some contemporary issue.
Find at least one business example for this topic. For example, you could choose an article proposing a model to analyse a possible target market. Your business example would then be a company which entered a new market. The critical evaluation would then consist of a well- researched discussion of how this model would have helped that company to enter the targeted market.
The rationale behind this task is that you will always be confronted with unfamiliar problems. Reading scientific literature is one way of getting to grips with a problem. It is also a good preparation for assignment 2.
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Week 3: Research Problems, Designs, and Sample
This week’s graded discussion topic relates to the following Course Outcomes (COs). COs Apply research principles to the interpretation of the content of published research studies. (POs 4 and 8)CO4 Evaluate published nursing research for credibility and lab significance related to evidence-based practice. (POs 4 and 8)
This week, we will discuss the research problems, designs and sample for your nursing clinical issue. The research design flows from the research question and outlines the plan for the study that will answer the research question. The design identifies the major components of the study. It is important to remember that there is no one best design for a research study.
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After you review the designs, describe which research design you would expect to find when searching for evidence relevant to your own research question from Week 2. Why? Explain your answer.The most common sampling method is the convenience sample; therefore, many of the studies that you find for evidence use this sampling method. What are the implications for using a convenience sample on the way you interpret and use the findings?
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