Aligned CLOs: CLO 1, CLO 2

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Aligned CLOs: CLO 1, CLO 2

Strategic Marketing Audit
Description: Select a sport organization (professional team, collegiate athletics
department, sport brand, or event). Write a 1,500–2,000-word audit that (a) identifies any
evidence of marketing myopia and how the organization defines its core product, (b)
applies the five-step strategic marketing planning process to the organization's current or
proposed strategy, (c) profiles the organization's target consumer using internal/external
behavioral factors from Chapter 3, and (d) describes at least one market research or
analytics method the organization could use (or is using) to inform decisions, per Chapter
4. This organization will carry forward into your Module 2–4 assignments and your
Capstone.
Guidelines:
 1,500–2,000 words, APA 7 format, double-spaced, 12-pt font
 Minimum of 3 credible sources beyond the textbook (organization press
releases, industry reports, news articles)
 Include a brief organizational overview (no more than 10% of total word
count)
 Submit as a Word document (.docx) or PDF via the Canvas assignment portal
Due: Sunday, 11:59 PM ET, end of Week 2
Rubric
Module Assignment Rubric (75 pts)

Module Assignment Rubric (75 pts)

Criteria Ratings Pts

This criterion is linked to a Learning
OutcomeContent Knowledge & Concept
Application
Accurately applies the module's textbook
concepts throughout the submission.

25 to >22.0 ptsExcellentThorough, accurate
application of module concepts throughout.
22 to >17.0 ptsProficientSolid application with
minor gaps.
17 to >11.0 ptsDevelopingPartial or surface-level
application.
11 to >0 ptsInsufficientMinimal or inaccurate
application.

25 pts

This criterion is linked to a Learning
OutcomeCritical Analysis & Original Thinking
Offers original analysis and well-justified
recommendations rather than description alone.

20 to >17.0 ptsExcellentStrong original analysis
and well-justified recommendations.
17 to >13.0 ptsProficientGood analysis; some
recommendations lack depth.
13 to >8.0 ptsDevelopingLimited analysis; mostly
descriptive.
8 to >0 ptsInsufficientNo meaningful analysis.

20 pts

This criterion is linked to a Learning
OutcomeOrganization & Structure
Logical, professional structure that is easy to
follow.

10 to >8.0 ptsExcellentLogical, professional
structure; easy to follow.
8 to >6.0 ptsProficientMostly organized; minor
flow issues.
6 to >3.0 ptsDevelopingSome disorganization.
3 to >0 ptsInsufficientDifficult to follow.

10 pts

This criterion is linked to a Learning
OutcomeWriting Mechanics & APA Format
Polished writing with correct APA 7 formatting
and citations.

10 to >8.0 ptsExcellentPolished; correct APA 7
throughout.
8 to >6.0 ptsProficientMinor grammar/APA errors.
6 to >3.0 ptsDevelopingFrequent errors;
inconsistent APA.
3 to >0 ptsInsufficientPervasive errors; no APA.
10 pts

This criterion is linked to a Learning
OutcomeAdherence to Guidelines
Meets the assignment's length, source count,
and format requirements.

10 to >8.0 ptsExcellentMeets all length, source,
and format requirements.
8 to >6.0 ptsProficientMeets most requirements.
6 to >3.0 ptsDevelopingMeets some requirements.
3 to >0 ptsInsufficientDoes not meet requirements.
10 pts

Total Points:

Aligned CLOs: CLO 1, CLO 2

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Management and Ethical Business Practices

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Management and Ethical Business Practices

Introduction

It can be tough to navigate ethical workplace behavior. No one wants to find themselves in the middle of an ethical dilemma, but it’s important to know how to handle these situations when they arise. In a business role as a manager, one needs to be aware of the most common forms of unethical behavior in the workforce. And also need to be familiar with ways to help minimize this misconduct. It’s important to remember that businesses have developed over the last 100 years, and today’s businesses are more ethical than ever before. Several factors have helped contribute to this evolution, including social media, the globalization of business, and the increasing demand for corporate accountability. There are a variety of ethical behaviors that take place in the workplace. Most of these stem from the individual’s code of ethics, which is shaped by personal experiences, religion, and morals.

Common Forms of Unethical Behavior

There are several commonly seen unethical behaviors in the workplace, many of which can be mitigated with strong leadership. Here are some examples:

  1. Theft: This includes stealing company property, such as equipment, supplies, or data, and stealing from employees, customers, or clients.
  2. Fraud involves any intentional deception or misrepresentation for personal gain. Fraudulent activities can include inflating expenses, faking invoices or receipts, and misrepresenting information on a resume or job application.
  3. Sexual harassment is any unwelcome verbal or physical conduct of a sexual nature that creates a hostile or intimidating work environment.
  4. Discrimination: This is when an individual or group is treated unfairly in the workplace due to their race, religion, gender, age, disability, or any other protected characteristic.

Leadership can help to minimize unethical behavior in the workplace by creating and enforcing clear policies and standards of conduct, providing training on ethical behavior and how to identify and report misconduct, and establishing an open and supportive culture where employees feel comfortable speaking up if they see something that doesn’t seem right (Yip et al., 2018).

Leadership’s Role in Minimizing Ethical Misconduct

Leadership’s role in minimizing unethical conduct in the workplace is critical. Good leaders create and enforce ethical standards within their organizations and provide the necessary support and resources for employees to comply with these standards. Leaders who are proactive in addressing ethics head-on can help to minimize the occurrence of unethical behavior, and they can also help to create a culture of integrity within their organization (Saha et al., 2019).

Evolution of Ethical Businesses Over the Years

Examining the evolution of ethical businesses over the last 100 years can present some interesting information. Generally, it has been argued that businesses have become more ethical as they have grown in size and influence. As organizations become larger and more complex, the need for ethical management increases. Many businesses have implemented policies to ensure that employees act ethically and take measures to prevent potential incidents, such as establishing whistleblower programs and conducting regular audits. Additionally, there has been an increased focus on corporate social responsibility, which has led to greater transparency in companies’ decision-making processes. Ultimately, ethical practices in business have been shown to lead to positive results for employees and customers (Bombiak & Marciniuk-Kluska, 2018).

Factors Influencing Ethical Business Practices

Many factors play a role in influencing ethical business practices. These include organizational culture, company policies, and economic pressures. Studies have shown that companies with a strong organizational culture that values ethical behavior are likelier to have employees who act ethically and follow their organizations’ guidelines. Good policies help create an environment of fairness and trust, ensuring that employees are aware of the expectations of appropriate behavior at all times. Finally, economic pressures can cause employees to make poor decisions as they try to boost their performance to meet corporate goals (Carroll & Shabana, 2010).

To promote ethical business practices, managers and leaders need to create an environment where ethical behavior is encouraged and rewarded. Leaders should foster a work culture where each individual feels free to express their opinions and make decisions responsibly while promoting values such as integrity, trustworthiness, and respect for others. By taking these steps, managers can ensure that their teams are held accountable for their actions and will be less likely to engage in unethical business practices (Carroll & Shabana, 2010).

Strategies for Navigating Ethical Workplace Behavior

As a manager, navigating ethical workplace behavior is an important part of your job. Fortunately, there are several strategies that you can use to ensure that ethical behavior is promoted and maintained in your workplace. First, ensure that everyone in the organization understands the company’s values, goals, and policies. This should be an ongoing effort and be communicated regularly to all employees. Second, provide ongoing training and education related to the organization’s values, ethics, and policies. This will help employees stay up-to-date on relevant laws and regulations and increase their understanding of the importance of ethical behavior. Third, be aware of your behavior and the example you set for your employees. By following ethical practices and encouraging others to do the same, you can help create a strong foundation for ethical business practices throughout your organization (Carroll & Shabana, 2010).

2007-2008 Financial Crisis Overview

The 2007-2008 financial crisis was a major event that significantly impacted the global economy. It began in the United States, where housing prices started to decline rapidly in 2006. This led to a liquidity crisis, as investors became worried that mortgage-backed securities were not worth as much as they had previously thought.

The crisis quickly spread to other countries, and by the fall of 2008, it was clear that we were in the midst of a global recession. Many banks and other financial institutions failed, and millions lost their jobs.

There is still significant debate about what caused the financial crisis. Some people argue that it was a failure of people, while others say it was a failure of our capital market processes (Johnstone et al., 2019).

Failure of People Versus Processes

The financial meltdown of 2007-2008 was a failure of our capital market processes. The events that transpired resulted from systemic issues with our financial regulations and how our markets function. It is important to note that many people have argued that the failure was a result of failures by people in the market. This includes individuals such as bankers, investors, and policy-makers. While it is true that these individuals played a role in the crisis, it is essential to remember that they were operating within a system that incentivized their behavior. For example, banker bonuses were tied to the amount of money they could generate for their banks. This led to unethical and reckless behavior as bankers tried to maximize their bonuses at the expense of the banks they worked for. Similarly, deregulation led to a system where investors could take on more risk, ultimately leading to several financial institutions’ collapse. It is clear that while people played a role in the crisis, the root cause was our capital market processes (Johnstone et al., 2019).

The Role of Diversity and Discrimination

The role of diversity and discrimination in the financial meltdown of 2007-2008 is complex. On the surface, it would seem that discrimination played a role in the subprime mortgage crisis, as many of the homeowners targeted for subprime mortgages were people of color. However, a closer look reveals that discrimination was not the only factor. Lack of diversity in the financial industry also played a role, as decision-makers did not have first-hand experience with the risks associated with subprime mortgages. This contributed to the flawed decision-making that led to the financial crisis.

Impact of Mismanagement on Organizations

The mismanagement of diversity and discrimination in the workplace can have a significant impact on an organization. Unaccounted-for cultural and racial disparities can result in high employee turnover rates, low morale, discrimination lawsuits, and a hostile work environment. One example of this was seen in 2007 when Coca-Cola faced allegations of discrimination based on gender and age. After an in-depth investigation, it was revealed that the company had violated EEO laws for decades by failing to provide equal pay for equal work and allowing unequal benefits for employees over 40. The repercussions of this misconduct were detrimental to Coca-Cola’s reputation and bottom line, illustrating the importance of taking diversity into account when managing a workforce (Sroka & Szántó, 2018).

Communicating the Importance of Diversity and Discrimination to Employees

Leaders must focus on diversity and discrimination as ethical factors when managing employees. Mismanaging these issues can harm an organization and its employees, leading to mistrust or lower productivity levels. To ensure these issues are handled effectively, leaders must communicate the importance of diversity and discrimination to their staff.

Leaders need to set a good example by promoting diversity and taking active steps to prevent any form of discrimination in the workplace. For example, employers can provide education and training sessions for their employees about the consequences of discriminatory behavior and how each employee can help create an inclusive working environment. Furthermore, employers should consistently monitor their policies and practices to address any identified issues promptly. By communicating the importance of diversity and discrimination, employers are setting the right ethical standard and creating an environment where each individual feels safe and valued (Sroka & Szántó, 2018).

Finding Solutions to Ethical Challenges

When it comes to finding solutions to ethical challenges, diversity and discrimination are two of the most important aspects for leaders to consider. This is because these issues can have a significant impact on an organization if they are mismanaged. For example, in the case of the financial crisis of 2007-2008, unequal access to financial services was identified as one of the causes of the meltdown. By failing to recognize the needs and experiences of people from different backgrounds in this way, banks and other institutions allowed risk levels to get out of control.

To ensure that such ethical issues do not occur again, leaders need to create a diverse and inclusive workplace environment and ensure that employees feel comfortable raising any concerns they may have or presenting any innovative solutions they come up with. Additionally, leaders should educate their employees on the importance of diversity and discrimination within a company setting so that everyone understands how their actions can affect the organization’s success(Sroka & Szántó, 2018).

Benefits of Corporate Outreach and Company Sponsored Volunteer Programs for Organizations

Organizations have many benefits when they implement corporate outreach and company-sponsored volunteer programs. From an ethical leadership perspective, one of the main benefits is that it allows organizations to create positive relationships with the community. When companies give back to the community, it helps build trust and credibility and can even improve a company’s image. Additionally, these programs can help to attract new customers, partners, and employees.

Another benefit is that it can help to develop the skills of employees. Employees volunteering their time and skills to help others can help them learn new things, develop new skills, and grow their networks. It can also help them feel more connected to the organization, leading to a higher level of engagement and motivation. Finally, from an ethical leadership perspective, it is important to note that these programs can help organizations to meet their social responsibility obligations. Organizations are helping to create a more sustainable and just world by providing employees with opportunities to volunteer (Sroka & Szántó, 2018).

Applying Ethical Leadership Theory to Corporate Outreach Programs

There are several theories related to ethical leadership, but we will focus on two: the moral leader as an agent and the ethical leader as a role model. The ethical leader, as an agent, makes decisions based on what is best for the organization, even if it is not popular or profitable. They can put the good of the organization above their interests (Sroka & Szántó, 2018).

As a role model, the ethical leader sets an example for others in the organization to follow. They display integrity and honesty in their actions and encourage their employees to do the same. By modeling ethical behavior, they make it easier for employees to make the right decisions when faced with a difficult choice. Both of these theories can be applied to corporate outreach programs. The ethical leader, as an agent, is willing to make unpopular decisions that are in the organization’s best interest, such as cutting costs or laying off employees. The ethical leader as role model is visible and vocal about their support for the program, encouraging other employees to get involved. Corporate outreach programs can be a valuable tool for enhancing ethical leadership within an organization (Saha et al., 2019).

Examining Examples of Impactful Corporate and Community Outreach Programs

When researching the different ways corporations and businesses can engage in corporate outreach programs, it is important to examine examples of successful programs. One example is 7-Eleven, which has been actively creating opportunities to give back to its local communities. Through their volunteer program, 7-Eleven has created several impactful collaborations with organizations that support a wide range of causes, including green initiatives and food security. This program allows employees to use their paid time off to volunteer with approved partner organizations and be “real-world problem solvers” in the community (Sroka & Szántó, 2018).

By creating volunteer opportunities through their corporate outreach programs, 7-Eleven demonstrates how ethical leadership goes beyond producing quality products and services; they also engage in meaningful participation with their local communities through employee volunteering. This commitment reflects a dedication to building relationships within and beyond the company (Sroka & Szántó, 2018).

References

Bombiak, E., & Marciniuk-Kluska, A. (2018). Green Human Resource Management as a Tool for the Sustainable Development of Enterprises: Polish Young Company Experience. Sustainability, 10(6), 1739. https://doi.org/10.3390/su10061739

Carroll, A. B., & Shabana, K. M. (2010). The Business Case for Corporate Social Responsibility: A Review of Concepts, Research and Practice. International Journal of Management Reviews, 12(1), 85–105. https://doi.org/10.1111/j.1468-2370.2009.00275.x

Johnstone, S., Saridakis, G., & Wilkinson, A. (2019). The Global Financial Crisis, Work and Employment: Ten Years On. Economic and Industrial Democracy, 40(3), 455–468. https://doi.org/10.1177/0143831×19866532

Saha, R., Shashi, Cerchione, R., Singh, R., & Dahiya, R. (2019). Effect of ethical leadership and corporate social responsibility on firm performance: A systematic review. Corporate Social Responsibility and Environmental Management, 27(2), 409–429. https://doi.org/10.1002/csr.1824

Sroka, W., & Szántó, R. (2018). Corporate Social Responsibility and Business Ethics in Controversial Sectors: Analysis of Research Results. Journal of Entrepreneurship, Management and Innovation, 14(3), 111–126. https://doi.org/10.7341/20181435

Yip, J. A., Schweitzer, M. E., & Nurmohamed, S. (2018). Trash-talking: Competitive incivility motivates rivalry, performance, and unethical behavior. Organizational Behavior and Human Decision Processes, 144, 125–144. https://doi.org/10.1016/j.obhdp.2017.06.002

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Management and Ethical Business Practices

Paper details
1. What are some of the most common forms of unethical behavior in our workforce
today? How could leadership in organizations help to minimize this ethical misconduct?
Explain and support your positions with relevant course content and outside sources.2.
As our businesses have developed over the last 100 plus years, have our modern day
businesses evolved to be more ethical today? What are some of the factors that helped
you come to your conclusion? Take a position and support your thoughts.3. Would you
describe the financial meltdown in our 2007-2008 financial markets as a failure of
\"people\" or of our \"capital market processes\"? Why? Support your thoughts with
ethical theory and examples. Use our library for added research if needed.4. Tell me
about why diversity and discrimination are two important ethical factors that leaders
should focus on while attempting to manage their workforce? Provide one example of
how mismanaging these issues have had an impact on an organization. How would you
explain the importance of these to your employees?5. Are corporate outreach and
company sponsored volunteer programs a good idea for organizations to implement?
Why? From an ethical leadership perspective, why would you choose OR not choose to
implement these programs? Use course theory and specific examples to support your
conclusion.

Materials Management

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Materials Management-Hershey\’s

 

Introduction

The Hershey Company is one of the largest chocolate manufacturers in the United States. The company has a wide range of products, including Hershey’s chocolate bars, Kisses, and Reese’s Peanut Butter Cups. The Hershey Company also produces baking chocolate, syrups, and other chocolate-related products. The company has a number of competitors in the chocolate market, including Nestle, Mars, and Lindt. The Hershey Company’s main competition lies in the candy market, where it competes with companies such as Snickers, M&Ms, and Skittles. The Hershey Company’s manufacturing process is relatively straightforward. Raw materials are mixed to form a dough, flattened into sheets, and chopped into small pieces. These pieces are then heated and stirred until they form a liquid that is poured into molds to cool.

Overview of the Hershey Company

The Hershey Company is a leading producer of chocolate and other confectionery products. Headquartered in Hershey, Pennsylvania, the company operates in more than 60 countries and employs over 13,000 people. It has a wide portfolio of brands, including Hershey’s, Reese’s, Kisses, Jolly Rancher, and Twizzlers. The company’s products are sold in over 60 countries around the world. It is a well-known and iconic brand but faces stiff competition from rivals such as Mars, Nestle, and Lindt. These companies have considerably larger market shares and enjoy strong brand recognition. Furthermore, the Hershey Company has come under fire recently for its high prices and lack of innovation.

The Hershey Company’s manufacturing process is fairly standard. The ingredients (mainly chocolate and sugar) are mixed to form a dough-like substance. This is then extruded into various shapes and sizes before being dried and packaged. The Hershey Company has faced several scheduling challenges in recent years. One key issue is the volatility of the prices of its raw materials. Another challenge is the need to balance production between its different product lines.

The Field of Competition for Hershey

When it comes to chocolate, there are a few big names in the business. But when it comes to the Hershey Company, it’s hard to compete. The Hershey Company is the largest chocolate manufacturer in North America and the fifth-largest worldwide. It has a range of products that include chocolate bars, kisses, Reese’s cups, and other chocolate-based snacks. Its core markets are the United States and Canada, but its products are sold in over 60 countries. And while Hershey has competitors, it is generally considered the top dog in the chocolate industry (Brown et al., 2020).

Manufacturing Process for Hershey Products

The Hershey Company’s manufacturing process is extensive, beginning with selecting the right ingredients. Once the ingredients are chosen, they are ground into a fine powder and mixed with other ingredients to create the base for each product. This mixture is then heated and formed into small pellets that are cooled and packaged. The manufacturing process for Hershey products is quite complex and can be difficult to schedule due to the many different types of products that need to be made. In addition, the company often needs to make last-minute changes to the production schedule to meet customer demand (Brown et al., 2020).

Challenges to Scheduling the Manufacturing Process

Scheduling the manufacturing process at The Hershey Company is a complex challenge. The company has a wide range of products, processes, and materials that must be managed to deliver high-quality products that meet customer needs promptly. One of Hershey’s primary challenges is understanding its production facilities’ capacity limitations. The company must ensure that machines are properly utilized, and that product batches do not suffer from bottleneck delays. Additionally, the organization must account for human factors such as shift changes, absenteeism, and mistakes which could lead to an inefficient manufacturing process. Finally, Hershey must be able to quickly respond to changing demand for their products in order to keep up with consumer preferences and competitors. Given these challenges, it is understandable why scheduling production processes can be difficult at The Hershey Company but also critically important for their success (Cadby et al., 2021).

Research on the Quality and Productivity of the Hershey Company

The Hershey Company has recently been researching new ways to improve its productivity and quality. With a focus on cost reduction and increasing efficiency, they have implemented a variety of process improvements that are making a big difference in their production. The main challenge they face is coordinating the manufacturing process to ensure the right amount of raw materials are delivered at the right time and that the finished product meets all quality standards. They have also implemented a data-driven decision-making system that helps them identify areas where they can improve or streamline processes to meet customer needs better.

In addition, they have implemented various systems and processes designed to control quality, ensure product consistency, identify potential risks, and reduce waste. This has led to an increase in customer satisfaction and brand loyalty for the company. With their commitment to excellence, innovative approaches, and dedication to customer service, it’s easy to see why Hershey is one of the most beloved companies in the world today (Cadby et al., 2021).

How the Hershey Company Is Adapting to Modern Technology and Practices

As the Hershey Company continues to innovate, they are adapting their production line to use modern technology and practices. This includes using robots to automate certain components of the manufacturing process and the introduction of 3D printing to create intricate molds for the production of chocolate. Additionally, Hershey is leveraging predictive analytics and machine learning to improve their scheduling and supply chain management. This has enabled them to anticipate customer demands better and keep operations running more efficiently. The company is also investing in automation processes, such as barcode scanning or computer vision, which help speed up packaging processes. Finally, Hershey is using digital twins to simulate factory processes to gain insights into potential improvement areas and optimize their production process (Thorlakson, 2018).

Exploring Artificial Intelligence and Robotics in the Production Process

The company has been using robotics and artificial intelligence for many years to improve its production process. Using robotics and artificial intelligence has given Hershey’s a competitive advantage over other chocolate companies. Robots can speed up the production process and decrease the number of errors made by human workers. Additionally, the use of artificial intelligence allows Hershey to constantly improve the quality of their products (Addanki et al., 2022).

A Look at How Automated Machinery Is Used in Production and R&D

The Hershey Company employs a variety of advanced technologies in its production process. Automated machinery is used to produce chocolate bars and other products, and this machinery is highly efficient. It can produce a large quantity of products in a short period. In addition, Hershey’s R&D department employs robots to assist in the development of new products. These robots can test the texture, flavor, and appearance of new products rapidly and efficiently. This allows Hershey to develop new products quickly and compete with other companies in the confectionery market (Thorlakson, 2018).

Examining Hershey’s Use of Advanced Technology for Data Collection and Analysis

The Hershey Company takes advantage of artificial intelligence and robotics through data collection and analysis. The company uses advanced technologies to track production, such as sensors and robotic systems, to precisely monitor raw materials, packaging, and other aspects of the manufacturing process. This provides a wealth of data that can be collected and analyzed in real-time to understand every aspect of their production processes better.

With this high-tech data collection and analysis, Hershey can gain insights into how product yields are affected by various variables, significantly improving their ability to respond quickly and efficiently when predicting or fulfilling customer demand. It also enables them to identify areas for improvement or cost savings in their operations. This advanced technology helps give Hershey a competitive edge over its rivals by providing an accurate picture of its production process on a complex global scale (Addanki et al., 2022).

Does Hershey Have a Competitive Advantage Over Rivals?

The Hershey Company has leveraged the latest advances in artificial intelligence and robotics to gain a competitive advantage over its rivals. The company’s advanced manufacturing systems are designed to deliver higher quality products faster, which gives the company the ability to respond quickly to changing customer demands and maintain market leadership. Hershey also uses AI-driven analytics to gain insights into customer preferences and develop new, innovative products that appeal to its target market.

In addition, Hershey has automated much of its production line, reducing costs while increasing efficiencies. The company’s advanced robotic systems can automate a range of tasks, including sorting and packing chocolate products. This allows Hershey to produce large quantities of the product while minimizing labor costs and reducing product waste. Finally, the use of robotic technology allows the company to reduce human error on the production line, increasing product quality and further cementing its competitive advantage over rivals (Trakadas et al., 2020).

Conclusion

The Hershey Company is a confectionery company. It has a market capitalization of $24.6 billion and generates revenue of $7.1 billion. The Hershey Company’s products include chocolate and non-chocolate confectionery, gum, and mints. Its products are sold in the United States and more than 60 other countries. The Hershey Company’s key competitors include Mars, Mondelez, and Nestle. The Hershey Company’s products are manufactured in Hershey, Pennsylvania, and Monterrey, Mexico. This company also employs several different technologies to produce its products, including artificial intelligence and robotics. While using these technologies gives the Hershey Company a competitive advantage over some of its rivals, it is not the only factor that contributes to its success. Instead, the company also relies on strong branding and a focus on customer satisfaction.

References

Addanki, M., Patra, P., & Kandra, P. (2022). Recent advances and applications of artificial intelligence and related technologies in the food industry. Applied Food Research, 2(2), 100126. https://doi.org/10.1016/j.afres.2022.100126

Brown, A. L., Bakke, A. J., & Hopfer, H. (2020). Understanding American premium chocolate consumer perception of craft chocolate and desirable product attributes using focus groups and projective mapping. PLOS ONE, 15(11), e0240177. https://doi.org/10.1371/journal.pone.0240177

Cadby, J., Araki, T., & Villacis, A. H. (2021). Breaking the mold: Craft chocolate makers prioritize quality, ethical and direct sourcing, and environmental welfare. Journal of Agriculture and Food Research, 4, 100122. https://doi.org/10.1016/j.jafr.2021.100122

Thorlakson, T. (2018). A move beyond sustainability certification: The evolution of the chocolate industry’s sustainable sourcing practices. Business Strategy and the Environment, 27(8), 1653–1665. https://doi.org/10.1002/bse.2230

Trakadas, P., Simoens, P., Gkonis, P., Sarakis, L., Angelopoulos, A., Ramallo-González, A. P., Skarmeta, A., Trochoutsos, C., Calvο, D., Pariente, T., Chintamani, K., Fernandez, I., Irigaray, A. A., Parreira, J. X., Petrali, P., Leligou, N., & Karkazis, P. (2020). An Artificial Intelligence-Based Collaboration Approach in Industrial IoT Manufacturing: Key Concepts, Architectural Extensions and Potential Applications. Sensors, 20(19), 5480. https://doi.org/10.3390/s20195480

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Materials Management

Paper details
Begin this project by picking a manufacturing organization that produces products you
are familiar with at your place of work or have an interest in. Start your essay with a
brief description of the company, its core products/services. Once you have this initial
section completed, carefully review and expand on the five points below that, you are to
cover in this project.
Research and describe in some detail:1. The field of competition and what you can find
in the internet regarding their position among competitors2. Describe the basic
manufacturing process and what you can find or assume to be the flow of materials
through the value-added chain.3. Research and then describe the challenges to
scheduling these products through the manufacturing process4. Research and describe
how Artificial Intelligence, robotics, and advanced technology is employed in producing
this product or products5. Does this company’s technology provide a competitive
advantage over closest rivals? If so, how?

Enterprise risk management (ERM)

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Enterprise risk management (ERM)

Introduction

As risk management becomes increasingly important to organizations of all types, business leaders must understand the key drivers of value-driven enterprise risk management (ERM). These key drivers guide the decision-making process regarding risk identification, assessment, and mitigation. In this essay, we’ll explore each of these drivers in detail.

Explain the difference between traditional and enterprise risk management.

There are two primary types of risk management: traditional and enterprise risk management. Traditional risk management is the approach that has been used for many years. It focuses on managing risks to individual entities, such as businesses or departments. This type of risk management is often reactive, meaning that risks are identified and managed after they have occurred. Enterprise risk management is a more recent development and takes a more holistic approach to risk management. It considers all aspects of an organization, including its people, processes, systems, and environment. Enterprise risk management is proactive, meaning that risks are identified and managed before they have a chance to cause harm (Shad et al., 2019).

Why enterprise risk management is a more effective approach for today’s organizations.

Enterprise risk management (ERM) is a critical framework for managing risk in today’s business environment. It is an approach that goes beyond the traditional risk management practices of identifying, assessing, and mitigating risks. The benefits of ERM include improved decision-making, increased transparency and accountability, and better risk identification and mitigation. In addition, ERM can help organizations realize their strategic objectives by aligning risk management with business goals. ERM is particularly important in the healthcare sector, where providers are increasingly held accountable for the quality and cost of care. Key drivers of value-driven enterprise risk management in health care include patient safety, quality of care, financial performance, and compliance with regulatory requirements (Fraser et al., 2021).

Key Drivers of Value-Driven ERM

To understand how enterprise risk management (ERM) can be value-driven, it is important first to understand the key drivers of value. Four primary drivers of value can be used to guide the implementation of ERM in any organization:

  1. Financial Performance: The ability to generate profitable and sustainable financial performance is essential for any organization. ERM can help identify and manage risks that could impact financial performance, including revenue, expenses, and capital (Fraser et al., 2021).
  2. Strategic Alignment: A well-aligned business strategy is critical for success. ERM can help ensure that strategic objectives are considered in identifying and managing risk.
  3. Customer Satisfaction: Satisfied customers are essential for a successful business. ERM can help to identify and mitigate risks that could impact customer satisfaction, including risks related to products and services, data security, and customer service.
  4. Regulatory Compliance: Compliance with applicable regulations is critical for organizations in all industries. ERM can help to ensure that risk management activities are aligned with regulatory requirements and that compliance is achieved (Fraser et al., 2021).

How Are These Key Drivers Applied in Health Care?

As with any business, the healthcare sector is constantly trying to find ways to reduce expenses while increasing revenue. This often requires a complex balancing act, as any decision made in one area can have unintended consequences in another.

Healthcare organizations must carefully weigh the risks and rewards of all their decisions, using enterprise risk management to help them make informed choices. Some key drivers of value-driven ERM include safety, quality, efficiency, and equity. For example, improving patient safety can lead to increased revenue from safer hospitals and reduced expenses from fewer malpractice lawsuits. Likewise, increasing the quality of care can lead to increased patient satisfaction and more referrals from happy customers. Improving efficiency can reduce labor costs, and enhancing equity can help attract more patients from diverse populations (Garbuio & Lin, 2018).

Examples of Successful ERM Efforts in the Health Care Industry

There are several examples of successful Enterprise Risk Management (ERM) initiatives in the healthcare industry. One of the most prominent is the development of Innovative Acute Care Models (IACMs) by Kaiser Permanente. This program was designed to reduce emergency department visits, inpatient admissions, and readmissions. To achieve this goal, Kaiser Permanente implemented various initiatives such as real-time risk assessment, telemonitoring programs, and patient education interventions (Garbuio & Lin, 2018).

Another example is using analytics to reduce healthcare-associated infections (HAIs). This effort involves analyzing trends in HAIs such as Clostridium difficile infection (CDI), Methicillin-resistant Staphylococcus aureus (MRSA), and Vancomycin-resistant enterococci (VRE). By analyzing these trends, hospitals can identify areas in which they can focus their efforts to reduce HAIs. These are just two examples of successful ERM efforts that have been used in the healthcare industry. Other organizations have also succeeded with ERM initiatives such as supply chain management, clinical trials management, and financial risk management (Garbuio & Lin, 2018).

Benefits of Value-Driven ERM for Health Care Organizations

Value-driven ERM is proving to be especially beneficial for healthcare organizations, where avoiding risks can be a matter of life and death. By taking an active role in managing enterprise risks, healthcare organizations can improve patient safety, cost efficiency, and quality of care. These are just a few of the ways value-driven ERM helps healthcare organizations:

  1. Patient Safety: ERM helps organizations understand the potential risks that may affect patient safety and then develop strategies for minimizing those risks.
  2. Cost Efficiency: ERM can help identify areas where organizations are overspending or inefficiently using resources, then create processes to reduce costs associated with those areas.
  3. Quality Of Care: ERM enables organizations to identify potential operational or medical errors that could affect patient outcomes and then create processes for preventing them from occurring in the future. This leads to improved quality of care for patients (Shad et al., 2019).

Conclusion

In short, risk management is a critical process for organizations and should be viewed as a key strategic initiative. Risk management aims to identify potential risks and develop a plan to mitigate those risks. The key drivers of value-driven ERM are risk identification, risk assessment, risk response, and risk monitoring and review. These drivers are essential for healthcare organizations because they help to ensure that the organization is proactively managing risks and that risk management is integrated into all aspects of the organization.

References

Fraser, J. R. S., Quail, R., & Simkins, B. (2021). Enterprise Risk Management: Today’s Leading Research and Best Practices for Tomorrow’s Executives (Robert W. Kolb Series) (2nd ed.). Wiley.

Garbuio, M., & Lin, N. (2018). Artificial Intelligence as a Growth Engine for Health Care Startups: Emerging Business Models. California Management Review, 61(2), 59–83. https://doi.org/10.1177/0008125618811931

Shad, M. K., Lai, F. W., Fatt, C. L., Klemeš, J. J., & Bokhari, A. (2019). Integrating sustainability reporting into enterprise risk management and its relationship with business performance: A conceptual framework. Journal of Cleaner Production, 208, 415–425. https://doi.org/10.1016/j.jclepro.2018.10.120

Spanò, R., & Zagaria, C. (2022). Enterprise Risk Management Systems: Emerging Issues and Future Trends. Integrating Performance Management and Enterprise Risk Management Systems, 35–68. https://doi.org/10.1108/978-1-80117-151-920221003

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Enterprise risk management (ERM)

Write a 1,050- to 1,400-word paper about enterprise risk management (ERM) in which you:
 Explain the difference between traditional and enterprise risk management.
 Explain why enterprise risk management is a more effective approach for today's organizations.
 Explain key drivers of value-driven enterprise risk management.
 Explain how these key drivers are applied within health care to drive enterprise risk management.
Provide examples.
Cite at least 3 outside sources.
Format your paper according to APA guidelines.

Relationship between accounting and banking

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Relationship between accounting and banking

Introduction to Banking and Accounting

In the ever-evolving digital world of finance, one partnership that must be examined is that between accounting and banking. The relationship between these two industries is very important to individuals and businesses alike, as both banking and accounting services provide vital support for the well-being of those involved. To fully understand the relationship between banking and accounting, examining their respective roles is important. As banking is focused on providing financial services such as loans, investments, etc., accounting is primarily concerned with measuring and reporting financial information. Both industries rely on each other to ensure financial transactions are accurately recorded and reported (Choudhry, 2022).

Accounting is a field that tracks, records, and interprets financial transactions, while banking manages individual and organizational deposits, investments, and loans. Both of these disciplines work in tandem to serve the financial needs of society, their relationship forming an essential pillar of a healthy economy. Accounting is responsible for the storage and analysis of financial data. Companies and individuals use this data to analyze their financial health, create budgets, make spending decisions, develop business strategies, and pay taxes. Banking provides access to money when it is needed most. It bridges savers who have money now and spenders who need money later. By collecting deposits from individuals at one end and lending them out at the other, banks provide an important economic service by acting as both a lender of last resort and providing liquidity to the borrowers. The banks also offer various income-generating products such as savings accounts, certificates of deposit (CDs), money market accounts (MMAs), mutual funds, and other services such as payment processing solutions for merchants (Franklin et al., 2019).

Role of Regulations and Compliance

The role of regulations and compliance strengthens the dynamic relationship between banking and accounting. On the one hand, banking organizations must adhere to regulations set by the government and other regulatory bodies to ensure that their banking activities conform to financial regulations. Additionally, banking organizations must also employ internal risk management systems to protect client’s interests, such as verifying customer information and ensuring that transactions are carried out securely. On the other hand, accounting regulation requires banks to provide timely and accurate financial statements to ensure confidence in the industry. These statements must adhere to Generally Accepted Accounting Principles (GAAP) which stipulate how banks should classify transactions, measure gains or losses on investments, report income or expenses, assess assets or liabilities, and present information consistently. Regulations enforce compliance between both sectors while also providing trust and transparency in their activities. Thus, both entities must work together closely to ensure that financial activities remain compliant with relevant regulations and laws (Khan et al., 2020).

The Impact of Accounting on Banks

The relationship between banking and accounting is twofold and dynamic. Accounting helps banks by providing them with the necessary information and data that enables them to make sound business decisions. On the other hand, banks have a major role in the financial system by providing credit to businesses, which helps in economic growth. The interdependence between accounting and banking can be best seen in their mutual impact on one another. Accounting helps banks to measure and track information related to spending and investments, which are essential to business operations. This data allows banks to assess their risk exposure and make informed decisions about lending practices and other financial transactions within their organization.

Additionally, accounting provides banks with an insight into the financial position of their customers, who are often borrowers. Banks use this information to ensure that customers remain trustworthy and financially responsible when taking out a loan or making any financial transaction with the bank. Furthermore, accounting helps banks determine whether certain customers are eligible for a loan.

In turn, banking is crucial in facilitating economic growth by providing funds for businesses through loans or other financing instruments. This allows businesses to invest in capital equipment or carry out research activities that would otherwise be impossible due to a lack of funds. This increased investment leads to economic expansion by creating more jobs, transforming existing markets, enhancing productivity, and boosting GDP growth rates. Understanding the relationship between accounting and banking is essential for effective financial management in any organization or institution. Through their combined effort of collecting data through accounting measures, managing risks through prudent lending practices, and encouraging business investment activities through financing options, finance professionals can drive an organization towards optimal financial performance (U. Khan, 2019).

How Banks Use Accountancy Data

Accounting and banking have a symbiotic relationship. Accounting provides data analysis, and banks use the data to make decisions. Banks need accountancy data to stay informed about potential investments, customers’ financial health, and regulatory purposes. To do this, banks rely on data from financial statements to assess the liquidity of a business. For example, banks measure how much cash and assets a business has compared to its liabilities. This is known as the liquidity ratio (Cai, 2021). The ratio helps them understand how well the business can meet its obligations within a given period. Banks use this information to determine if businesses can handle a loan or an overdraft loan repayment. Furthermore, technology has made it easier for banks to access accountancy data quickly and conveniently. With the help of online tools like Accounting Seed, financial statement analysis can be done in minutes – making it easier for banks to make more informed decisions about who they extend credit in less time than ever (Bach et al., 2019).

Acquisition, Mergers, and Divestments in Accounting and Banking

The relationship between accounting and banking is further complicated in cases of acquisitions, mergers, and divestments. The process of due diligence in these transactions requires collaboration between both sides: the financial institution must ensure that the proposed changes are consistent with their risk appetite and sound accounting principles. In contrast, accountants must ensure that the financial statements accurately reflect the business entity’s financial position. Furthermore, banks and other financial institutions may issue debt, which requires accurate accounting for both organizations to protect their interests. This may involve analyzing returns on investment (ROI) to determine whether a particular debt arrangement benefits both parties. Additionally, accountants are often called upon to advise banks on exploring new markets or creating operational efficiencies through cost-benefit analysis and other strategic planning techniques. By understanding financial data from diverse sources of information such as newspapers and SEC filings and advising on strategic initiatives, accountants can help banks achieve success (Cai, 2021).

Analyzing Effects on Financial Performance

The integrated nature of banking and accounting in the financial sector has an immense role in the success of enterprises. Both aid in the assessment of financial operations, which can be used to inform decision-making and help guide performance. Such an analysis can yield information on the efficacy of business practices and their impact on the bottom line. The collaboration between banking and accounting professionals facilitates greater insight into respective business structures and current market trends. With this information, entities can better respond to economic fluctuations while harnessing gains from industry trappings. This helps to create a more efficient system, allowing industry players to capitalize on available resources and accelerate growth over time. Accounting data plays a major role in helping organizations monitor cash flow, assess profitability, spot trends, anticipate costs, identify threats, fix mistakes, improve operations, meet legal requirements, limit tax liabilities and plan strategically for future success. By partnering with banking institutions with similar knowledge and expertise, these responsibilities become increasingly easier to manage, resulting in improved financial performance across multiple fronts.

The Impact of the Global Financial Crisis on Accounting and Banking

The Global Financial Crisis (GFC) of 2008 had a significant impact on the banking and accounting sectors regarding regulations and practices. In an effort to restore consumer confidence, the government stepped in with several initiatives to create tighter regulations for banks and financial institutions. Most notably, the Dodd–Frank Wall Street Reform and Consumer Protection Act was enacted in 2010; this set rules on corporate governance, risk management, and consumer protection. At the same time, accounting standards were also tightened to provide more transparency. One example is the new International Financial Reporting Standards (IFRS), which replaced various national accounting standards with a single set of principles. These measures have created greater accountability for banks and increased confidence among investors and consumers (Anginer et al., 2019).

The GFC also put a spotlight on banking risk management practices. Banks had been relying heavily on leverage—borrowing money to make investments—which put them at great risk when markets crashed in 2008. Banks began to reassess their risk management procedures, as well as their reliance on leverage. In addition, new capital requirements were implemented by regulators to encourage banks to take an active role in assessing and managing their risks. In conclusion, the Global Financial Crisis had a lasting impact on both banking and accounting processes worldwide; this is most evident through the increased regulations in both fields, which continue to ensure overall financial stability today (Anginer et al., 2019).

Regulations to Strengthen the Relationship Between Accounting and Banking

The financial sector needs to adhere to stringent regulations, which helps reduce the risks of performing financial transactions. The introduction of regulations, such as the Basel Accords, can be credited for strengthening the relationship between accounting and banking. Banking organizations are responsible for providing accurate financial statements to comply with the regulations set by these Accords. In addition, they depend on accounting services to evaluate their customers’ risk profiles and propose suitable investment options. Accountants have a role to play in helping banks better understand their business environment and design reports or products that will comply with regulations while remaining cost-effective. This includes gathering and interpreting data, creating comprehensive financial statements, determining trends in banking transactions, and auditing banks’ internal systems and processes. Thus, through mutual understanding of each other’s roles, banking and accounting can work together more effectively, benefiting from each other’s expertise to provide safer and more efficient services to their customers (Anginer et al., 2019).

Conclusion

From this analysis, we can conclude that banks and accounting have a mutual relationship. Banks are the primary users of accounting services, and accounting is the foundation of virtually all banking activities. Banking and accounting are both important to the success of an economy. Banks assist with the capitalization of companies, and through their accounting services, they help monitor a country’s economic performance. Furthermore, banking and accounting have a symbiotic relationship with each other to run businesses and stimulate economic growth. Banks rely on accounting for maturing their services, and accounting relies on banks to finance operations. Finally, banks have developed a greater interest in accounting and have started providing more financial services that accounting firms can use. Thus, the mutual relationship between banking and accounting will remain strong for many years.

Reference

Anginer, D., Bertay, A. C., Cull, R., Demirguc-Kunt, A., & Mare, D. S. (2019a). Bank Regulation and Supervision Ten Years after the Global Financial Crisis. RePEc: Research Papers in Economics. https://doi.org/10.1596/1813-9450-9044

Bach, M. P., Krstić, Ž., Seljan, S., & Turulja, L. (2019a). Text Mining for Big Data Analysis in Financial Sector: A Literature Review. Sustainability, 11(5), 1277. https://doi.org/10.3390/su11051277

Cai, C. W. (2021b). Triple‐entry accounting with blockchain: How far have we come? Accounting and Finance, 61(1), 71–93. https://doi.org/10.1111/acfi.1255

Choudhry, M. (2022a). The Principles of Banking. John Wiley & Sons.

Franklin, M., Graybeal, P., & Cooper, D. (2019b). Principles of Accounting Volume 1 – Financial Accounting.

Khan, H. U., Bose, S., & Johns, R. (2020b). Regulatory influences on CSR practices within banks in an emerging economy: Do banks merely comply? Critical Perspectives on Accounting, 71, 102096. https://doi.org/10.1016/j.cpa.2019.102096

Khan, U. (2019a). Does Fair Value Accounting Contribute to Systemic Risk in the Banking Industry? Contemporary Accounting Research, 36(4), 2588–2609. https://doi.org/10.1111/1911-3846.12501

Machkour, B., & Abriane, A. (2020a). Industry 4.0 and its Implications for the Financial Sector. Procedia Computer Science, 177, 496–502. https://doi.org/10.1016/j.procs.2020.10.068

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Relationship between accounting and banking

Paper details
Research paper on examination of the relationship between accounting and banking.
 Response demonstrates a clear understanding of the key elements of assignment
questions.
 Responses thoroughly cover the elements in a substantive manner.
 Response demonstrates critical thinking and analysis.
 Content is complete and accurate.
 Introduction and conclusion provide adequate information on the given topic.
 Paper structure is clear and easy to follow.
 Ideas flow in a logical sequence.
 Introduction provides a sound introduction to the topic and previews major
points.
 Paragraph transitions are logical and support the flow of thought throughout the
paper.
 The conclusion thoroughly reviews the major points.
 Sentences are well constructed, complete, clear, and concise.
 Words used are specific and unambiguous.
 The tone is appropriate to the content and assignment.

Business Structure

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Business Structure

From the knowledge acquired in Chapter 13, I would choose the limited liability company as my business structure if I were to start my own business. The limited liability company business structure provides a flow-through form of taxation, meaning it is not taxed. In other words, profits and losses go through to the owners, who fill them on their tax returns. This allows the business owners to avoid double taxation, which occurs with a corporation’s business structure. For a small startup, pass-through taxation can significantly reduce taxes while increasing cash flow into the business enterprise. A limited liability company business structure offers liability protection for its owners. If the LLC is sued, the owner’s assets are typically shielded from lawsuits and any debts that might arise from the business (Khurana et al., 2020). This protects owners’ assets like homes, retirement funds, and bank accounts. This liability protection is crucial for new business-facing various risks (Robison, 2020).

Another important reason is that an LLC business structure provides ownership and management structure flexibility. Members or managers can manage a business entity with an LLC structure. This flexibility allows the business to develop a management structure that best fits its and its owner’s needs. Lastly, the process of forming an LLC is relatively simple and inexpensive. The LLC filing fees and annual reporting costs are typically much lower than for any other business structure. The lower cost of forming and maintaining an LLC makes it attractive for a new business. For these reasons, I would likely choose to form an LLC if starting my own business. The combination of benefits an LLC offers seems to make it the best organizational form for my business entity.

As seen earlier, business structures determine how business income and losses are reported for tax purposes, the business’s legal and financial system, and the business owner’s liability. From the analysis of this chapter, the main types of business structures are sole proprietorship, partnership, limited liability company (LLC), and corporation. A sole proprietorship can be described as the simplest form of business structure. The owner forms the business by default, requiring no legal or tax filings. The owner has an unlimited personal liability, which means that their assets can be seized to pay business debts arising from the business. Sole proprietors report business income and losses on their tax returns. The main disadvantage of a sole proprietorship is that they offer no liability protection for the owner (Robison, 2020).

A partnership is a business structure where two or more individuals form an enterprise. Partnerships require a partnership agreement that outlines how profits, losses, and responsibilities are divided between the partners. Like sole proprietors, partners have unlimited personal liability for business debts. Partnerships file an informational tax return, but income and losses flow through to partners’ tax returns. Partnerships offer flexibility but lack liability protection (Khurana et al., 2020). An LLC is a legal business structure that provides owners liability protection like a corporation but tax benefits like a partnership. LLCs business structure requires filing formation documents with the state. The Owners, also known as members, have limited personal liability for the business debts. The LLCs file informational tax returns, but income and losses flow through members’ tax returns. This business structure offers the business owner liability protection, tax benefits, and management flexibility (Robison, 2020).

Lastly, a corporation is a legal entity separate from its owners. Corporations require extensive legal formation documents. The Owners of this business entity, also called shareholders, have limited personal liability for the business debts. A business that falls under this structure files its tax returns and pays corporate income taxes on profits before distributing any remaining income to shareholders. Corporations offer the most significant liability protection but have more complex legal and tax requirements (Khurana et al., 2020).

References

Khurana, I., Strand, M., Dempster, G. M., & Stimpson, S. (2020). Institutions, entrepreneurial adaptation, and the legal form of the organization. Journal of Entrepreneurship and Public Policy, 10(2), 261–283. https://doi.org/10.1108/jepp-10-2019-0087

Robison, L. (2020, January 10). Alternative Forms of Business Organizations. Pressbooks. https://openbooks.lib.msu.edu/financialmanagement1ed/chapter/alternative-forms-of-business-organizations/

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Business Structure

Paper details
Prior to beginning work on this assignment, read Chapter 13 of the textbook.
In your analysis,
 Explain, if you were to start your own business, which business entity structure
you would choose.
 Justify why your chosen structure is the best organizational form.
 Explain the following business structures: sole proprietorship, partnership, LLC,
and a corporation.
 Analyze the following for each business structure:
o steps to form
o personal liability for owners
o taxation
o advantages and disadvantages

The Business Organization paper
 must be 2-3 double-spaced pages in length (not including title and references
pages) and formatted according to APA

JPMorganChase

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JPMorganChase

 

JPMorganChase

Due Week 10 and worth 200 points

In the summer of 2012, JPMorgan Chase, the biggest U.S. bank, announced trading losses from investment decisions made by its Chief Investment Office (CIO) of $5.8 billion. The Securities and Exchange Commission (SEC) was provided falsified first quarter reports that concealed this massive loss.

Use the Internet or Strayer databases to research a different bank of your choosing.

Write a three to four (3-4) page paper in which you:

  1. Discuss how administrative agencies like the Securities and Exchange Commission (SEC) or the Commodities Futures Trading Commission (CFTC) take action in order to be effective in preventing high-risk gambles in securities / banking, a foundation of the economy.
  2. Determine the elements of a valid contract, and discuss how consumers and banks each have a duty of good faith and fair dealing in the banking relationship.
  3. Compare and contrast the differences between intentional and negligent tort actions
  4. Discuss the tort action of “Interference with Contractual Relations and Participating in a Breach of Fiduciary duty” and, if the bank you’ve chosen were to behave as JP Morgan did, would you be able to prevail in such a tort action.
  5. With the advent of mobile banking, discuss how banks have protected the software that allows for online transaction to occur through automation.
  6. Use at least three (3) quality references. Note: Wikipedia and other Websites do not quality as academic resources.

Your assignment must follow these formatting requirements:

  • Be typed, double spaced, using Times New Roman font (size 12), with one-inch margins on all sides; citations and references must follow APA or school-specific format. Check with your professor for any additional instructions.
  • Include a cover page containing the title of the assignment, the student’s name, the professor’s name, the course title, and the date. The cover page and the reference page are not included in the required assignment page length.

The specific course learning outcomes associated with this assignment are:

  • Describe the legal environment of business, the sources of American law, and the basis of authority for government to regulate business.
  • Describe the elements of a contract and explain the basic provisions of contract law relative to offer, acceptance, capacity, legality, fraud, third-party rights, performance, and breach of contract.
  • Explain the components of the Uniform Commercial Code (UCC) relative to sales and lease contracts and the basic provisions of the UCC addressing sales / lease contracts, title, risk, insurable interests, and the performance and breach of contracts.
  • Use technology and information resources to research issues in business law.
  • Write clearly and concisely about business law using proper writing mechanics.

Grading for this assignment will be based on answer quality, logic/organization of the paper, and language and writing skills, using the following rubric.

grading rubric:

Thoroughly discussed how administrative agencies like the Securities and Exchange Commission (SEC) or the Commodities Futures Trading Commission (CFTC) take action in order to be effective in preventing high-risk gambles in securities / banking, a foundation of the economy.

Thoroughly determined the elements of a valid contract, and thoroughly discussed how consumers and banks each have a duty of good faith and fair dealing in the banking relationship.

Thoroughly compared and contrasted the differences between intentional and negligent tort actions.

Thoroughly discussed the tort action of “Interference with Contractual Relations and Participating in a Breach of Fiduciary duty” and, if the bank you’ve chosen were to behave as JP Morgan did, would you be able to prevail in such a tort action.

Thoroughly discussed how banks have protected the software that allows for online transaction to occur through automation.

Exceeds number of required references; all references high quality choices.

0-2 errors present

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WestJet Airline

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WestJet Airline

WestJet Airline is a cost-effective Canadian transporter and the company was established in 1996. The company is the second-largest air transporter which conducts a myriad of domestic flights. For instance, the company provides air services to 86 destinations, such as the U.S.A and Canada. The company is also dedicated to upholding cost-effective operations and to safeguarding endless growth.

WestJet PEST analysis

Political factors

Political factors play an essential role in the long-term sustainability and effectiveness of any company. To emerge victorious in a vibrant market all over the world, a company should spread the systematic risks of the political climate. Therefore, WestJet can prudently examine issues such as political constancy in and out of the country. Varying guidelines can have a noteworthy influence on the success of a company. To overcome such challenges, the company should carefully observe contemporary movements in the country’s political setup. High levy affects international trade and prevents exports. The company should, therefore, establish new businesses in areas where taxes are considerably low for it to make returns.

Economic factors

Any company and especially WestJet needs to comprehend financial influences such as foreign exchange and interest rates and how they govern the average financial environment of a nation. The commercial growth of a country plays a significant role in the progress of an organization.  It is also substantial to comprehend an organization’s lifecycle stage. Venturing in an already established industry can prove difficult due to domination by specific industries. The company should also consider operating in a market where there is the availability of a significant number of unemployed individuals. Working in such a market can reduce the manufacture cost of a corporation as the people available can offer cheap labor.

Social factors

The operations of an organization are determined by the beliefs of the people where the organization is located. It is, therefore, essential for the management of an organization to understand what the people in a given locality want before establishing a company. Besides, studying demographic features that can help an organization choose the right market with a high possibility for development.  Moreover, the organization should review the social status of the people in the locality. They should ensure that their goods and services are affordable to people to increase profitability.

Technological factors

A thorough examination of the technological environment can play an essential role in achieving particular business-related benefits, such as enhancing functional competence. The following technical factors can influence the business performance of WestJet. For instance, the expansion of information and communication technologies has triggered the acceptance of new marketing methods to increase teamwork with clients. The use of different social media platforms has also increased the client base.

 

WestJet also needs to recognize the investments made by rivals to comprehend how new technologies inspire an organization’s value chain. In such a condition, WestJet should capitalize on unruly technologies to capitalize on the incomes and reinvest the benefits of upcoming disruptive technologies.

If an organization attempts to get into a new market, they must do some study about factors such as political, economic, social, and technological factors. The company must understand the present developments in the country’s political setting, which can change the management’s significances towards the growth of new companies. The company must also understand the economic environment to make it possible for them to estimate the growth curve of an organization. For instance, establishing a branch in an area with a high rate of joblessness can offer an excellent opportunity for cheap and available labor hence reducing the production cost of an organization. The company should also collaborate with individuals in the locality who understand the way of life of the people. In a nutshell, the company should measure the strengths and weaknesses of the above factors for the greater good of the organization.

WestJet SWOT analysis

WestJet strengths

WestJet offers cost-effective transport services in Canada, which makes it one of the most prestigious companies in the country. The company provides excellent customer satisfaction by proactively maintaining its position as a leader of environmental policy in the airline industry.           The company also applies different leadership strategies to run the company. The company, for instance, employs customer retention strategies that are well formulated and implemented while considering the contemporary competitive environment.   Besides, the corporation upholds a renewed image than its rivals. The company is also involved in direct engagement with its customers. The company also uses social media to address challenges.

Weaknesses

During the last few years, the company has made many networks and product changes to position itself more favorably among higher-yielding business travelers. This culminated with fare families, which debuted in 2014 with varying levels, allow travelers to tailor their experience. However, leisure travelers still comprise a more significant portion of the company’s passenger mix, and the airline is limited in the number of business travelers it can capture absent a dedicated business class cabin. The company may need to consider how competitive it aims to be in enlarging its business passenger base.

Opportunities

Offering cost-effective services has been essential for the success of WestJet financially. The majority of the corporation’s development has been as a result of amplified regular stage length. Besides, the stage length has been rising as the airline has lengthened transcontinental flying.

The low–fare strategy has played a significant role in the success of the WestJet. WestJet presently produces additional incomes from fees related to itinerary changes and extra luggage. Due to the low flight charges, customers have always purchased more than one air ticket bringing profit to the company.

The company also has the potential to maintain a specific way of life in which they can give their clients the best goods and services while maintaining high standards of responsibility as expected by the government. Through the maintenance of a specific company culture within their company environment, they can create a particular brand image for themselves. They can, therefore, provide excellent services at a considerable cost.

Threats

As the organization heads towards new borders that position the airline squarely in the hybrid space, it must ensure that it maintains devotion among the passenger base. Keeping the initial culture can prove to be a challenge as the clients may feel neglected by the new culture due to the belief that some privileges by the company have been taken out. The company also faces stiff competition from Air Canada, which is more stable due to its vast experience in the transportation industry.

The VRINE framework

Valuable

The WestJet Airlines VRIO Analysis signifies that the commercial properties of WestJet Airlines are significantly prized as these help in investing in prospects that arise. These also help the company combating external threats.

Rare

The workers of WestJet Airlines are a precious possession, as identified by the VRIO Analysis of WestJet Airlines. These workers are exceedingly qualified, which is not the case with workers in other companies. The conducive working environment ensures that these workers do not leave for other companies.

Imitable

The monetary possessions of WestJet Airlines are expensive to imitate, as recognized by the WestJet Airlines VRIO Analysis. These possessions have been attained by the corporation through lengthy profits. New competitors would require equivalent incomes for an extended period of time to accumulate these amounts of monetary incomes.

Organization

The fiscal possessions of WestJet Airlines are organized to achieve worth, as acknowledged by the VRIO Analysis of WestJet Airlines. Such properties are used tactically to capitalize in the appropriate places, making use of chances and contesting pressures. Therefore, these possessions demonstrate to be a foundation of constant viable advantage for the company.

Conclusion

In conclusion, political, economic, social, and technological factors play an essential role in the long-term sustainability and effectiveness of any company. Favorable government policies can trigger the growth of an organization, while unfavorable government policies can hinder business growth. The government should, therefore, ensure that there is political stability in a country to support business growth. An organization should also invest in its employees in order to emerge victoriously. Motivated individuals can yield greater results compared to demotivated workers. Besides, carrying out a background check on the cultural beliefs of people before establishing a company is a determining factor in the success of a business. A company should consider people’s cultural values and also produce goods and services affordable to people to increase profitability.

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WestJet Airline

Topic:
External and Internal Analysis of the general environment of WestJet
Subject:
Company Analysis
Sources:
–
Style:
APA
Description

2. External analysis of the general environment of WESTJET AIRLINES
a) A summary of key external factors (limited to five or less) that affect the company’s
business. (You may use PEST analysis and five-force analysis to identify the key factors.)
b) Briefly explain how the key factors interact with each other, and render strategic impacts
over the company. You need to support your explanation with researched evidences.
c) A conclusive paragraph that highlights the trends (limited to three or less) that will
significantly shape the future of the company’s business in terms of opportunities and
threats.
3. Internal analysis of WESTJET AIRLINES
a) Make a list of key resources (tangible and intangible) of the company. Briefly explain
their significant contributions to the company’s success in the past.
b) Make a list of the company’s distinctive capabilities in comparison with its direct rivals.
c) State the core competence of the company regarding the division of business you are
analyzing.
d) Using VRINE framework to explain whether the company’s competitive advantage is sustainable.

The process of benchmarking

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The process of benchmarking

 

Assess the process of benchmarking as a function of practice management. Suggest one financial and one operational benchmark that a practice manager could use to improve business outcomes and the quality of patient care. Support your recommendations with at least one real-world example.

You must proofread your paper. But do not strictly rely on your computer’s spell-checker and grammar-checker; failure to do so indicates a lack of effort on your part and you can expect your grade to suffer accordingly. Papers with numerous misspelled words and grammatical mistakes will be penalized. Read over your paper – in silence and then aloud – before handing it in and make corrections as necessary. Often it is advantageous to have a friend proofread your paper for obvious errors. Handwritten corrections are preferable to uncorrected mistakes.

Use a standard 10 to 12 point (10 to 12 characters per inch) typeface. Smaller or compressed type and papers with small margins or single-spacing are hard to read. It is better to let your essay run over the recommended number of pages than to try to compress it into fewer pages.

Likewise, large type, large margins, large indentations, triple-spacing, increased leading (space between lines), increased kerning (space between letters), and any other such attempts at “padding” to increase the length of a paper are unacceptable, wasteful of trees, and will not fool your professor.

The paper must be neatly formatted, double-spaced with a one-inch margin on the top, bottom, and sides of each page. When submitting hard copy, be sure to use white paper and print out using dark ink. If it is hard to read your essay, it will also be hard to follow your argument. Assess the process of benchmarking

ADDITIONAL INSTRUCTIONS FOR THE CLASS

Discussion Questions (DQ)

Initial responses to the DQ should address all components of the questions asked, include a minimum of one scholarly source, and be at least 250 words.
Successful responses are substantive (i.e., add something new to the discussion, engage others in the discussion, well-developed idea) and include at least one scholarly source.
One or two sentence responses, simple statements of agreement or “good post,” and responses that are off-topic will not count as substantive. Substantive responses should be at least 150 words.
I encourage you to incorporate the readings from the week (as applicable) into your responses.

Weekly Participation

Your initial responses to the mandatory DQ do not count toward participation and are graded separately.
In addition to the DQ responses, you must post at least one reply to peers (or me) on three separate days, for a total of three replies.
Participation posts do not require a scholarly source/citation (unless you cite someone else’s work).
Part of your weekly participation includes viewing the weekly announcement and attesting to watching it in the comments. These announcements are made to ensure you understand everything that is due during the week.

APA Format and Writing Quality

Familiarize yourself with APA format and practice using it correctly. It is used for most writing assignments for your degree. Visit the Writing Center in the Student Success Center, under the Resources tab in LoudCloud for APA paper templates, citation examples, tips, etc. Points will be deducted for poor use of APA format or absence of APA format (if required).
Cite all sources of information! When in doubt, cite the source. Paraphrasing also requires a citation.
I highly recommend using the APA Publication Manual, 6th edition.

Use of Direct Quotes

I discourage overutilization of direct quotes in DQs and assignments at the Masters’ level and deduct points accordingly.
As Masters’ level students, it is important that you be able to critically analyze and interpret information from journal articles and other resources. Simply restating someone else’s words does not demonstrate an understanding of the content or critical analysis of the content.
It is best to paraphrase content and cite your source.

LopesWrite Policy

For assignments that need to be submitted to LopesWrite, please be sure you have received your report and Similarity Index (SI) percentage BEFORE you do a “final submit” to me.
Once you have received your report, please review it. This report will show you grammatical, punctuation, and spelling errors that can easily be fixed. Take the extra few minutes to review instead of getting counted off for these mistakes.
Review your similarities. Did you forget to cite something? Did you not paraphrase well enough? Is your paper made up of someone else’s thoughts more than your own?
Visit the Writing Center in the Student Success Center, under the Resources tab in LoudCloud for tips on improving your paper and SI score.

Late Policy

The university’s policy on late assignments is 10% penalty PER DAY LATE. This also applies to late DQ replies.
Please communicate with me if you anticipate having to submit an assignment late. I am happy to be flexible, with advance notice. We may be able to work out an extension based on extenuating circumstances.
If you do not communicate with me before submitting an assignment late, the GCU late policy will be in effect.
I do not accept assignments that are two or more weeks late unless we have worked out an extension.
As per policy, no assignments are accepted after the last day of class. Any assignment submitted after midnight on the last day of class will not be accepted for grading.

Communication

Communication is so very important. There are multiple ways to communicate with me:
Questions to Instructor Forum: This is a great place to ask course content or assignment questions. If you have a question, there is a good chance one of your peers does as well. This is a public forum for the class.
Individual Forum: This is a private forum to ask me questions or send me messages. This will be checked at least once every 24 hours.

Assess the process of benchmarking

 

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Post war economic development in the U.S

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Post war economic development in the U.S

After the Second World War, the United States of America underwent tremendous economic growth. The war had brought to a standstill the operations of the country as significant activities that contribute to the growth of the economy had been shut down. One of the significant claims that the leaders made was that the war had been responsible for perpetuating the poor—the economic status in the country. Therefore, after the war, economic development became a primary plan for the leaders not only because of the need to raise people’s standards of living but because the leaders had made promises. The people would see a failure to fulfill such obligations as the failure of the government to fulfill its promises.

American economy during the Second World War

During the Second World War, the American economy suffered immensely. The war effects were able to destabilize governments. The then-president tried to mitigate and reduce the impacts of the war on the country’s economy, but his efforts bore little success. Different economic indicators suggested that the country was still wallowing in the war effects (Fogel, 2005). For instance, during 1929-1932, the country’s gross domestic product declined significantly. The level of unemployment in the country was also an indicator of the war’s impact. The majority of American citizens were unemployed and could not afford their basic needs.

Sources of economic development

The expansion of the automobile industry in the U.S after the Second World War played an essential role in the financial growth of the country. The number of vehicles that the company annually produced quadrupled. As a result, the company was able to make a lot of profit due to the sale of the cars hence earning a significant amount of revenue for the government.

Recognition of the role of women in leadership in the U.S after the war played also contributed to the improvement of monetary growth in the country. Women were elected in high positions of power, which made it possible for them to operate for the greater good of the people. For instance, the selection of women to head different government parastatals contributed to increased production hence improved economy in the country.

The United States of America also experiences a housing boom due to the availability of affordable mortgages for returning service members. Homeownership also played an essential role in the economic growth of the U.S. Homeownership played a substantial role in the prevention of the growth of slums in the U.S. slums can play a critical role in the event of illnesses associated with poor living conditions (Maier, 1977). For instance, heart-related diseases can arise due to living in rooms with poor ventilation. Besides, cholera can occur due to the availability of safe drinking water. The government was, therefore, able to redirect the finances that would be used in treating sick individuals into other development projects such as the construction of schools.

The areas in which the homes are located provides an opportunity for people with different talents to interact and share ideas that impact positively on the economy of the country. For instance, sharing ideas in the neighborhoods led to the development of social amenities in the area, which reduced the poverty rate among the people. The low poverty rate meant that there was a flat dependency rate on the part of the government (Fogel, 2005). Hence, the government was able to focus on the development of other projects, such as improving the education sector. Besides, the neighborhood brought people together, therefore, creating a good relationship among the people. The excellent relationship made it possible for the people to report any suspicious behavior in the area hence maintaining peace, which plays a substantial role in the growth of the country as people can operate without fear of being attacked.

After the Second World War in 1945, significant organizations in the U.S.A expanded significantly. Although the previous years had experienced waves of company mergers, 1945 experienced such mergers significantly. Companies with different branches in a different part of the world merged, establishing additional offices in and out of the country. International companies that dealt with communication came together and improved their services. Besides, companies that dealt with issues related to food also merged. For instance, smaller franchise operations like McDonald’s fast-food cafés provided still another pattern (Maier, 1977). Large companies also opened up branches in other counties where terms of service were favorable. The growth of such companies was essential for the survival of businesses in the country. The organizations were, therefore, able to acquire assets, attract new talents in the industry, and additional fund investments. The growth of these businesses also made it possible for people to increase their stability and profits substantially.

The media, and especially television, had a powerful influence on the community and financial arrangements. Although the TV had been established in the 1930s, it was not extensively recognized until the end of the Second World War. After the war, only a few privileged individuals owned television sets.

However, after the war, a large number of individuals were able to purchase the televisions, and the number kept on increasing as time went by. The TV did not only act as a source of entertainment to the people but also served as a critical driver to the American economy (Fogel, 2005). The broadcasting televisions worked as a source of a myriad of employment opportunities and also acted as a platform through which different companies could advertise their products. In a nutshell, the profitable native transmission industry was disapprovingly significant to the United States economy at large and local economies in specific. For instance, the revenue which was received by employees in occupations unswervingly connected to native television broadcasting, either in the business itself or in the many providers that support the business openly, helped generate additional financial activity.

After the Second World War, the United States of America experienced a period of political stability, which triggered the economic growth of the country. There exists an essential relationship between economic growth and political stability. The risks related to an insecure political environment can significantly decrease the rate of investment and financial growth. On the other hand, the poor monetary routine may trigger an administration’s collapse and political turbulence. Due to political stability in the U.S after the war, individuals were able to open up businesses without fear of incurring losses (Maier, 1977). Besides, foreign investors in the country were also able to open up new markets in the country hence increasing the availability of job opportunities in the country. Job opportunities, on the other hand, improved the standards of living of the people, thus reducing the poverty rate in the country. Low poverty levels also ensured that the price of crimes in the country became low as people would not engage in crimes in search of their essential needs.

Benefits of economic growth in the U.S after the war

Higher average income among individuals triggers economic development, which enables individuals to consume more goods and services and enjoy improved state of living. For individuals living in any part of the world, the average person’s satisfaction is based on a combination of individual wealth, possessions, and optimism. Individuals who can afford their basic needs are likely to lead happier lives (Maier, 1977). For instance, after the Second World War, financial development in the U.S played an indispensable role in decreasing certain levels of insufficiency and enabling a rise in life expectancy.

Lesser joblessness. Commercial development in the U.S also saw the country experience a flat unemployment rate. The established companies absorbed a lot of individuals and hence reduced the number of unemployed individuals in the country (Fogel, 2005). As a result, the dependency rate was decreased as people could now depend on themselves.

Economic growth in the U.S after the war also lessened the administration’s borrowing significantly. Financial development generates higher tax incomes, and there is little or no need to devote money on welfares such as joblessness welfares. Therefore commercial development helps to lessen an administration’s borrowing. Economic growth also plays a role in dropping debt to GDP ratios. The U.S was able to evade the negative consequences of government borrowing (Maier, 1977). When a country’s debt approaches a severe stage, stakeholders typically start asking for an increased interest rate. They demand increased benefits for a more substantial risk. This shows how likely it is that the nation will not afford to pay the debt. Besides, as interest rates rise, it becomes more difficult for a society to refinance its current mortgage. As time goes by, revenue has to go toward debt reimbursement, and less toward an administration’s services

Intensified economic development in the U.S also ensured that there were improved public services in the country. With amplified duty incomes, the administration was able to invest more in social services, such as the construction of world-class recreational facilities such as stadia and public parks. Besides, the government managed to improve the educational system in the county. An improvement in the educational system triggered advanced living standards, such as augmented life probability, advanced rates of literacy, and a better comprehension of community and fundamental issues (Maier, 1977). For instance, knowledge of the political problems in the U.S has made it possible for the people to elect good leaders in the country who have managed to spearhead the development of the country tremendously. Besides, political maturity in the country has allowed people to choose leaders based on their manifestos instead of racial affiliation.

Financial growth also amplified research and advancement. Enormous economic growth led to increased effectiveness for companies, allowing more expenditure on research and extension. Furthermore, continued monetary growth expanded self-assurance and encouraged companies to take risks and invent. Research plays an essential role in the expansion of a business. Through research, a company can realize what their customers want and come up with the best goods and services to satisfy the clients (Fogel, 2005). The United States of America managed to support research through which risks related to a different issue in the country have been overcome, which has impacted positively on the growth of the economy.

Economic theories and their influence in the growth of the post-war economy in the U.S

The theory of demand believes that the request for particular goods and services is grounded on factors such as the price of the products and services. Quality goods and services that are offered at a fair price tend to sell more compared to goods and services, which are sold at a very high price as only a few individuals can afford such products and services (Maier, 1977). The theory also denotes that the higher the number of incomes that buyers get, the more the buying capability. Besides, the prices of related goods and services also determine the people’s demand for particular products and services. Theses theory, therefore, played an essential role in the growth of the American economy after the Second World War. After the war, individuals who had taken part in the war as soldiers came home loaded with a lot of cash. Their financial capabilities made it possible for them to purchase houses and settle in urban areas. Besides, the field of real estate in the U.S had improved tremendously due to the merger of different companies. As a result, the companies were able to construct and sell houses at a considerably lower price, which made it possible for individuals to purchase homes (Fogel, 2005). Besides, the rate of unemployment in the country significantly reduced due to the growth of different companies such as the automobile industry, thereby increasing the consumption rate of the people and especially in issues related to housing. Besides, due to government support, financial institutions were able to offer mortgage services at low interest, thereby increasing the people’s financial capabilities, which made it possible for people to buy houses. An improvement in the housing sectors in the country played an essential role in the growth of the American economy at large.

The perfect competition market structure theory

According to this theory, a competitive market environment provides a ground for comprehending how different businesses operate in a capitalist economy. Ac competitive business environment is determined by factors such as similarity of the goods and services in the market, the availability of many clients, and faultless flexibility of resources or factors of production. When different companies produce similar goods of the same quality and sell such goods and services at the same price, individuals tend to purchase products from all those industries without caring about the nature of the companies (Maier, 1977). For instance, the expansion of the motor vehicle industry in the U.S after World War 2 saw the different companies make considerable profits due to an extension of both the local and the international markets. Individuals would purchase vehicles from different companies, as they produced high-quality, cost-effective products.

The existence of many buyers also played a significant role in increasing the demand for the different services in the U.S., the higher the demand, the higher the supply. Improved financial capabilities increased people’s purchasing power. For instance, due to the reduced unemployment rate in the country due to industrialization, people could now afford primary and secondary needs (Fogel, 2005). Besides, the sprouting suburbs necessitated the provision of essential services in different neighborhoods in the country, thereby increasing the customer base. Industries were forced to produce more goods and services due to the increasing population and demand or various products such as houses and vehicles to run errands. The availability of favorable factors of production also plays a significant role in the growth of any economy.

Government policies can either encourage or discourage the expansion of different companies in a country. The United States, for example, charged a considerable amount of taxes to individuals who wanted to invest in the country after World War 2. The favorable taxes made it possible for both local and international investors to establish businesses in the country, thus improving the economy of the country (Maier, 1977). Besides, the government was able to provide electric power at a significantly lower price making the market attractive to different investors. The government’s dedication to provide and maintain a state of security in the country was also appealing as it inspired a sense of security to individuals. Individuals were, therefore, not afraid of being attacked and incurring losses from their businesses.

Classical economics

The theory believes in free markets, and that state of the economy would always attain total employment through forces of demand and supply. For instance, if there exists a higher number of individuals seeking employment opportunities compared to the number of available jobs, the number of salaries that the employed individuals receive would be reduced until all people secured employment opportunities (Fogel, 2005). Individuals who supported this theory did not see any role of the government in the business. Such individuals never advocated for the use of fiscal policy by the government.

Reasons behind the economic boom after the war

After the war, the American economy improved immensely. Many individuals, and especially economics, thought that the economy would sink into more depression. However, things took a different turn as the government was able to cut on its spending. For instance, the amount of money that was used to finance the war through buying of ammunition was used to carry out other essential activities. Besides, the government reduced and stopped recruiting more armed soldiers due to the end of the war. As a result, the figures which were used to hire additional men were used to support other economic activities such as the construction of essential infrastructures (Maier, 1977). The industries which produced weapons during the war were also able to adjust—such sectors engaged in the production of goods such as toasters whose demand had significantly increased. After the war, too, the government stopped controlling private companies. The companies were, therefore, given the liberty of engaging in other economic activities. As a result, they participated in the production of a myriad of goods and services hence making large amounts of profits.

Conclusion

In conclusion, it is essential to recognize that every event in a country has both positive and negative effects on the economy and the general people’s way of life. However, no individual can intentionally trigger any kind of violence to subject the economy to a period of hardship in an attempt to create economic health. Whenever a country experiences a period of financial difficulties due to conflicts, it is the role of the government to come up with measures to improve the economy after the war period. For instance, after the world war, the American government came up with proposals to reduce the impacts of the war. The government cut taxes, which encouraged many people to invest in the country. Besides, the government made it possible for industries that previously engaged in the production of weapons to venture into the creation of essential goods and services.

References

Fogel, R. W. (2005). Reconsidering expectations of economic growth after World War II from the perspective of 2004. IMF Staff Papers, 52(1), 6-14.

Maier, C. S. (1977). The politics of productivity: foundations of American international economic policy after World War II. International Organization, 31(4), 607-633.

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Post war economic development in the U.S

Topic:
American economy development after world war 2(or make one)
Subject:
Economics
Sources:
2 sources required
Style:
APA
Description

RESEARCH PAPER
You will produce a 10-12-page (3000-3500 words) research paper on the economic, business, industrial, financial, management, labor, agricultural, or international economic history.
You will design/choose your research topic in consultation with me. You should choose a topic of interest to you, inspired by your work in other courses in economics, business, history, political science, sociology and related subjects. But I expect that you will produce a paper that is specifically written for this course and not one that is a revision/variation of a paper done for another course.
I want the paper to be a “synthesis, comparison or review of the literature” on a topic in American economic history. I expect you to discern the different theoretical traditions, explanatory frameworks, and/or accounts that scholars have used to understand the historical events they have studied. You should be mindful of the theories you learned in the Microeconomics, Macroeconomics and other theoretical courses you’ve taken. Your paper must include a discussion of debates between at least two different theories, models, or causal explanations of an event or historical process in American economic history. It must include an assessment of the strengths and limitations of the different theories, models, or causal explanations. The paper must synthesize the arguments and evidence presented in the different sources you use, and must analyze, explain and present them in a coherent way. The “literature review” can take several forms, two examples of which are presented below:
(1) Synthesis of several sources on a topic
(2) Comparison of several sources on a topic