Essay on Chapter 1 Business Now: Change Is the Only Constant

1665 Words Feb 2nd, 2013 7 Pages
Chapter One

Business Now: Change Is the Only Constant

Review Questions What factors contribute to the rapid pace of change in business? Is the pace likely to accelerate or decrease over the next decade? Why? Financial Institutions got a bailout By President Obama in 2009, Mortgage values dropped, financial institutions begin to Feel the pressure especially firms such as Bear Stearns that specialized in trading Mortgage backed securities. There was $61.7bn in losses with AIG, strong economy Out of more jobs can accelerate the next decade, there be a budget deficit. AIG got A $180bn bailout; while Bank of America got $45bn as well as JP Morgan Chase $25bn, Goldman Sachs got $10bn. The Rapid pace of
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Plans for Globalization and Global Reach, Region-Specific Marketing to name a few strategies.

How has the rise of the World Wide Web changed business practices? What are the benefits and drawbacks for business? For consumers?

How has the definition of diversity changed over time? Can a diverse workforce help a company compete more effectively? How?

How has the global free trade movement impacted business? Who benefits? Why? Who loses? Why?

Application Questions Take a moment to jot down 5 things that you love to do. Think broadly (but keep it clean). Your list could include anything from posting pictures on Facebook to listening to your favorite music. Then brainstorm a list of business careers that could encompass two or more of your passions. A position in nightclub marketing, for instance, could include surfing on Facebook and listening to great music. What skills would you need to succeed in each position? Which skills do you have and which would you need to develop?

Most successful businesses today actively develop loyal customers who buy their brands again and again. After all, getting current customers to buy more is much easier than constantly seeking new customers. Think of three brands that you buy on a regular basis. Why do you stick to these products? How could another company dislodge you?

Entrepreneurship has clearly transformed the world economy. Choose 3 successful