A lot has changed over the past year in The United States (U.S.), the US has a new President, the Republican party leads with most seats in Congress, and the U.S. Economy is on the rise. The first two factors have a hand in how well the economy is doing. With a new president in office, there have been some recent changes to policies and government regulations. Currently, a new tax reform is being proposed for the 2017 tax year, which looks to cut 1.5 trillion dollars towards business and individuals (Rappeport & Kaplan, 2017). The tax break for individuals and businesses will influence the U.S. economy in one form or another. In the following pages the current state of the economy will be discussed, explore an environmental scan of today’s …show more content…
64). With the individuals and organizations receiving a higher tax return under the new tax reform bill it provides marketing departments an opportunity to sell them their products. There are five sources used to evaluate the environmental scan: social, economic, technological, competitive, and regulator forces (Kerin et al., 2016). The demographics of the consumer enables the marketing team to target specific groups for higher sells (Kerin et al., 2016). With technological advancements products that were once out of reach of the average consumer are now obtainable. Together with the economy on the rise, companies have seen an increase in sells with their products. Today’s market is filled with competition between businesses in every sector. Although this may be true, organizations that practice poor social and environmental responsibilities can suffer loses in revenue and consumer loyalty (Kerin et al., 2016). Under the new tax reform bill, small business will receive more of a return on their taxes which encourages more individuals to start their own business in the future (Rappeport et al., 2017). Interpreting and identifying trends are easier for marketing departments when the economy is strong because individuals are not just buying the necessary items.
Future Markets Future markets with the continued growth in the U.S. economy should have an increase in consumer spending. Government involvement and federal regulations can hinder or
assuage any guilt they might feel about consuming mass quantities of unnecessary, disposable goods by dutifully tossing these items into their recycling bins and hauling them out to the curb each week”. (Westervelt, Amy. "Can Recycling Be Bad for the Environment?" Forbes. Forbes Magazine, 25 Apr. 2012. Web. 5 Dec. 2015). So why is the reason that companies are starting to “Go Green”? Its clearly obvious that the change in America from an industrial country to a environmental country has taught big business how to market environmentalism in mass quantities of their product. The strategy of the consumption-environment mindset are increasing rapidly. If this trend of buying without thinking does not slow down, with problems like not shifting priority from consumption to being environmentally aware, things will certainly worsen. On the topic of green marketing, people often see that green marketing refers to the advertising of objects or products with environmental characteristics to them (Like the Nestle bottle, for example). Terms like “Environmentally Friendly”, “Refillable”, and “Recyclable”, are some of the things people associate with green marketing. In reality
-Mohair farmers have earned a subsidy from the federal government for decades because the mohair farmers can get large payments from the government without taxpayers ever really noticing because the farmers who get the subsidy care a lot about it, while the rest of us taxpayers (paying mere pennies extra in taxes) do not really care. And, “any politician with a preference for job security can calculate that a vote for the mohair subsidy will earn the strong support of the mohair farmers while costing nothing among other voters” (Wheelan 177).
A corporate business enterprise is established under a specific legal framework where laws governing the operations and functioning of the enterprise are outlined. The activities of the enterprise are monitored and therefore such an enterprise is recognized by law. This is important due to the fact that legal suits can be filed by the enterprise within the provisions of the law.
(Kerin, Hartley, & Rudelius, 2010). These trends normally consist of five sources, social, economic, technological, competitive, and regulatory forces. My intention in this essay is to focus on one; the economic environmental force. I will discuss how the current state of the economy will impact completing an environmental scan. In order to evaluate how the economy will impact the completion of an environmental scan, it is essential to cover the concerns that affect the economic aspect whether people want to believe
1. Describe two examples of important things that financial planning skills can help you do, and explain why these things are important to you personally. (4-6 sentences. 2.0 points)
Despite the city’s positive response to the coffee shop’s renovation, other businesses in the area have not followed suit in renovating the many decrepit buildings and abandoned lots. How might the presence of an externality be in part the cause of this?
1. College logo t-shirts priced at $15 sell at a rate of 25 per week, but when the bookstore marks them down to $10 it finds that it can sell 50 t-shirts per week. What is the price elasticity of demand for the logo t-shirts? Is the demand elastic or inelastic?
Commutronics had not accumulated enough profits and had no sufficient capital reserves. The company’s registered capital was therefore very low. The withholding tax rate of
The United States is the leading economy across the globe and experienced several tribulations in the recent past following the 2008 global recession. Despite these recent challenges, there are expectations among policymakers and financial experts that the country will experience solid economic growth. Actually, financial analysts have stated that the U.S. economy will be characterized by increased consumer spending, increased investments by businesses, reduced rate of unemployment, and reduction in government cut. Some analysts have also stated that the country’s economy will strengthen in 2014 with an average of 2.7 percent or more. However, these predictions can only be understood through an analysis of the current macroeconomic
3.) Strong presence in high margin health services business. In addition to UnitedHealth Group’s leadership position in the health benefits market segment, UnitedHealth Group has strong information and technology based health services platform through its business segments which is Ingenix, OptumHealth and PrescriptionSolutions. The “CNN MONEY” (2012) website states Ingenix is one of the largest health information, technology and consulting companies in the world. The UnitedHealth Group derived $2.3 billion of revenues from Ingenix which contributed $284 million (excluding $200 million in goodwill impairment and business line deposition charges) of operating profit, and an operating margin of 12.1% during FY2010.
This assignment has a maximum total of 100 marks and is worth 10% of your total grade for this course. You should complete it after completing your course work for Units 1 through 5. Answer each question clearly and concisely.
The current economy has hurt many retail businesses. Every month another retail giant closes its doors. Retail stores which we never would have imagined have gone bankrupt. Retail sales have declined greatly. Major cause of this declination is because many people are unemployed and cannot afford to purchase anything. Retailers are forced to discount prices to increase sales, but discounting still hurts margins. Retailers are assuming a very
The economic and social factors play a crucial role in determining monetary climate that the business operates in and the nature of consumption habits that prevail within that particular area concerning lifestyles. These social aspects help a business organization to evaluate potential changes brought about by their products in the market. Evans and Richardson (2007), insist that an enterprise must factor in technological solutions that it can introduce within the market it seeks to establish itself and research initiatives it can introduce to help improve its operations. The environmental factors should be assessed to establish potential impacts of the activities carried out by the organization in the environment. It is important for any enterprise to be familiar to all