Describe the role of business in the economy
The economy is usually a capitalistic one, for this reason, business is the main constituent of this economy. Business is always present in each aspect and in every level of the market. This means that most of the things in the society are business associated, including retail, political campaigning, agriculture services, health care, and manufacturing. All spheres of life entail application of business. Business transactions existed even in the eras when civilization was on the basis of agriculture kind of economy. For instance, in a society that is based on farming for income, there are different types of farming practices that would be occurring. At the end, farmers would tend to exchange goods and products. This makes a complete convenient business deal. This is an example to explore that business is practiced yet on the smallest level throughout history. Business is the economy; absence of business is an implication that there would be no existence of economy. The economy of any country largely depends on the services that are provided by both the small scale and the large scale business via the production of goods and services that are essential for survival of human beings. In addition, business pay tax to the government and for this reason serves as the central point of an economy (Christopher, 2008).
Compare and contrast the roles of for-profit and non-profit organizations in the economy
For-profit organizations entail business and other organizations are those whose main objective is making a profit in their operations. Money is necessary in order to keep these organizations running. Most of the famous companies that are thought to be business are mainly profit-based. Profit-making organizations include retail stores, real estate companies, insurance companies to name but a few. In profit- making business, there is usually a put price for the services and goods offered as it is determined in the market. Companies put prices at a stable position where they can get the largest amount of money for a good or service without trailing down the business as a result of high prices. In addition, in profit-making organizations, the goods and services provided are usually tangible; this means a product X is given away for amount Y(Christopher, 2008).
Thus, non- profit businesses usually promote their services with immeasurable social outcomes via awareness of the social causes in the economy. In profit-making organization, goods and services are usually purchased by a consumer and thus are used by the precise consumer. Therefore, the profit marketers apply the concept t of direct ownership that is an aspect extremely valuable in the capitalistic economy. Finally, it’s vital to note that profit organizations give taxes to government and thus making it possible for the non-profit organizations to accomplish their day to day operations and finally their objectives (Christopher, 2008).
Non-profit organizations are significant in the economy for they tend to create goods and services that are essential for individuals but are non-profitable for organizations to manufacture them. These organizations use surplus revenues in order to accomplish their goals instead of supplying them for profit purpose. The non-profit organizations usually have the permission to carry out many revenues, in addition, they need to be maintained by the organization for the purpose of self- preservation or for plans. For this reason, non-profit organizations usually have controlling members and board as well. However, since they are non- profit making organizations, one is likely to find volunteers that are incorporated to the staff. The design of such kind of an organization and that of money-making organizations is completely different in the United States. This implies that nothing can be granted by the declaration (Christopher, 2008).
The impact of current fiscal and monetary policy on the economy
In the United States, economy can be impacted via two economic policies namely fiscal policy and the fiscal policy. The fiscal policy is an economy policy that is usually investigated by the congress. The basic tools of these parts of government are the levy law and government expenditure. Via the altering of tax laws, the government can successfully change the amount of not reusable income on hand to its taxpayers. This disparity in disposable revenue would go to the government rather than going to customers, who, in turn, would pass the money against firms. Otherwise, the government might choose to boost government expenditure by directly buying goods and services from private owned organizations. On the other hand, the monetary policy is the second method the government can impact the economy in a country. Monetary policy is initiated by the central bank of a country to organize the supply of funds within the economy. By impacting the efficient cost of funds, the central bank can influence the amount of money that is used by consumers and by organizations (Peter, 2006).
4. Select a product or service with which you are familiar and outline a strategy for accessing global markets.
An outline of a strategy for accessing global markets for Marksmen oil and gas industry:
-the global strategy plan involves the identification of the critical issues that faced the company, accessing the current liability of the company to attain a development goal while still considering the competitive market. Finally, setting strategic objectives to deal with these current issues in the company and sketch strategic marketing plans to comprehend these global purposes:
-business counseling helps in developing successful market entry and sales approach plus recognizing export credentials requirements and import policy in overseas markets:
-market research entails the analysis of the potential of the current market and those of foreign competitors and as well as looking for widespread information on best predictions, laws and cultural aspects:
-business matchmaking involves aspects such as linking with the qualified possible partners, aiding in supporting the product or service to targeted nation consume, meet with the decision makers in the objective market and finally assist in overcoming trade challenges to effectively penetrate the markets.
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5. Impact of Amnesty International level of social responsibility on employees
Economic players, particularly companies that function across the state boundaries have with time achieved exceptional power and authority across the economy of the world. However, this has not been of benefit to the societies in which they run. Amnesty International's study has highlighted the unconstructive impact that organizations can have on the human rights of the people and communities affected by their day to day work. Many firms usually have negative by straightforwardly abusing human rights of its stakeholders, in most cases these are the employees. Regardless of this potential to bring about noteworthy harm, there are few efficient mechanisms at either the national or global stage to avert business human rights ill-treatment or to hold business to explanation (Peter, 2006).
Amnesty International’s work on economic stakeholders, as well as trans-national companies and international monetary group, has grown in credit of the authority and power they put forth over nation and global institutions, and the impact they have on rights of employees in particular. This organization is agitating for international standards on business and human rights and development of stricter authorized frameworks at both the state and global level in order to hold organizations to account for their stakeholder’s rights impact. In addition, Amnesty International calls on organizations to make respect for employees’ rights as an essential part of their business act (Peter, 2006).
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