The Effects of the Economy On Business Administration Essay examples

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The Effects of the Economy On Business Administration
The career I choose to pursue is the career of Business Administration. This career consists of running a small or big business and being able to run it and be capable of making small or very important decisions. A business runs and depends on the people and how people spend their money. If people spend their money responsibly and they know how to administrate their money and will make the economy to be stable and be good. As we all know, the economy has been really bad for the past year and it has made millions of people loose their homes and their jobs. The economy is a big factor in this career and it could be a huge problem that can be faced for a long period of time and more than
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The recession is a way of saying that administrators did not make the best of decisions on how they ran their business. Business administrators are not the only ones who are responsible for the recession that we fell into. Stockholders, investors, unions and even the government also have a hand on why we landed into the recession.
As we all know you cannot run a business without employees or buyers. In the past year since the recession started unemployment was at its record high since 1999. The unemployment rate was at 10.2% in November 2009 (BOLS). What this means is that if the unemployment rate is higher it means that there is lees work for people to find and that affects the economy in a direct way because people are not making money and well much less spending it. If people do not spend money businesses do not make money and it affects the economy and the economy affects everyone. This problem does not only affect the people living in the United States but also the rest of the world. If the economy in China is bad it will affect all the countries that do business with it and get resources from it. The effect that one economy has on the others is not a direct impact but a sure impact over time. If business is bad in one country and it makes the economy go down, thus making the countries that trade resources and products with it be…