The purpose of this assignment is to apply your learning from this week to real-world situations to help you better understand how micro and macro-economic factors affect business strategies.
After reading the Case for Analysis in Chapter 1 (ETTA) section 1.1 and 1.2 “Microeconomics/Macroeconomics in a Fast-Food Restaurant “(pp. 7-14) discuss a real business case scenario in which you or someone in the management position at your company needed to consider both the macro and microeconomic factors to analyze a business problem. What were the specific factors at play? What was the outcome of analyzing the business problem? If you don’t have such an experience, please consider a hypothetical scenario.
Economics Theory Through Applications
For this assignment choose two companies in two different industries. After answering those questions above, compare the two companies managerial decision-making process and discuss how those economic factors (micro and macro) affect crafting business strategies.
Bottom-line:
1. Choose two companies in two different industries (real ones or hypothetical).
2. Discuss a real business or hypothetical problems in which you or someone in the management position at these two companies needed to consider both the macroeconomic and microeconomic factors to analyze these problems so as to come up with some possible solutions.
3. What were the specific factors (micro and macro) at play for both companies? What were the outcomes of the analysis of the problems and solutions for these two companies?
4. Finally, compare and contrast the two companies’ managerial decision-making processes in analyzing those business problems and their proposed business strategies (as solutions).
5. Conclude
General Assignment Instructions
Make sure to organize your paper using logical sections and subsections. This is very important to determine whether you address all the critical components of the assignment outlined above.
An in-depth response for a question typically involves:
· Analyzing the questions or the scenarios thoroughly
· Introducing, defining, and correctly applying key relevant concepts
· Connecting the question and concepts to other concepts in the course and/or the textbook and other outside sources
· Illustrating the response with examples and/or graphs, tables, or charts whenever possible
Support your major arguments with credible sources, when appropriate for the question. The sources may be scholarly articles or reputable business periodicals. The articles should directly relate to managerial economics. Do not use Wikipedia or Investopedia as your sources.
Follow APA style formatting, including a 12-point font and double spacing. Your response should include a cover page. When citing sources, a References section and in-text citations are required. Use proper grammar, spelling, and punctuation throughout.
Generally, your combined responses to all questions should be about 5-6 pages, not including the cover page and reference section.
Turnitin Expectation: The similarity report of 20% or less would only be accepted for this assignment.
