Tag Archives: Economy
While working for hours in the office, you must have planned things your way. But, have you ever thought about the future of your work? This applies to every working individual, typically in reference to the work we all do in our offices, respectively.We all, quite often, talk about things related to our business goals and work in order to achieve them, whereas experts say that we shouldn’t discussour end goals but those we create for short terms instead.
It’s more like that we need to complete our daily tasks to make sure we meet our weekly productivity, and then monthly and so on.Irrespective of the complexity of our tasks, we need to complete them all without fail. At the same time, we need to ensure certain things with respect to our target audience, despite the assured workplace safety for our employees.In this regard, buying insurance online is a great way to save on the premium, as we need to minimize the overall cost. At the same time, we must ensure that we do not hamper our business growth.
Below are 5 ways every entrepreneur can drive economic growth:
- Provide customers with service they need
What do you think motivates individuals to become entrepreneurs?It’s the current market conditions and practical scenarios that they do not want to sustain and aim at transforming the whole process. Well,they ensure the delivery of the most appropriate services to their customers, despite the alluring marketing strategies and social media campaigns being launched by every single marketer for years.
If you’re an entrepreneur too and willing to expand your business by serving an increasingly large customer base, then you need to revolutionize your business strategies and corresponding business model of yours. Simply understand the key requirements of your target audience and start delivering them exactly the same.
- Open gates for talent
Businesses bring opportunities for talented individuals to associate with your company and serve your organizational goals. Since yours is a startup, you certainly don’t want to compromise on skills – be it customer care service, client engagement, product/service marketing, or customer management for that matter. Therefore, you need to set certain criteria for hiring the best candidates for your company.
- Integration of regional economic and commerce
The advancements in technology have led us to the era of smartphones, where we can do almost everything we need to do.For instance, from reading newspaper to sending an email, linking your girlfriend’s picture of Facebook to finding your soul mate on a matrimonial site,starting your free personal blog on WordPress to becoming a renowned blogger and a lot more is viable.
Entrepreneurs, nowadays, have enough marketing choices and corresponding opportunities to make the most out of them.Businesses, now, can expand themselves in smart ways and raise funds from the market.
Particularly, other enterprises tend to contribute when new businesses try to expand themselves into the market. As a result, the economy of that business grows and so does its market value. More and more people get to know about that company and many of them tend to purchase its products or subscribe to its services subject to their affordability.
- Technology-driven, efficient business strategies
Technology and its various real-time applications indeed have a great impact on our life at various times.However, the best way to make our nation proud is by transforming the efficient business ideas into real-time products and services that people need now or will need in the future. Smartphone applications proved to be great in this aspect and have been able to mesmerize the target audience of various enterprises in the modern era of technology.
Entrepreneurs can take ideas from these applications setting up modern business benchmarks in today’s market of extreme competition, especially on the Internet.
- Extreme competition leads to innovations
Experts state that innovations do happen only when there is an extreme competition. In fact, there is a strong bond between business, marketing, competition, and innovations. New businesses need innovations and efficient marketing ideas to start with and a growing enterprise is a leading source of job creation.
Thus, every business is crucial from two perspectives – economy growth and job creation.And, entrepreneurs do need to keep them in mind while starting up a business.
Read more about here: Significance of Car Insurance Comparison Online
If you had to sum up the US economy as it currently stands using just 3 numbers, which numbers would you choose? It’s hard, isn’t it?
The Financial Times US managing editor Gillian Tett has attempted just that in a short new video released online:
The first number listed is 40% of all supposed Mexican imports are actually born right at home in the US. During the manufacturing process, car parts can cross the Mexico/US border up to eight times, but they start that back-and-forth journey north of the border.
The second number is 53 million, and is the amount of Americans who are currently self-employed. If you can’t quite imagine this amount of people, it is roughly the population of the entire nation of South Africa, and yet the number is set to continue to rise thanks to the current ‘gig’ economy. You’ve heard of Uber? Well, all of their drivers are actually self-employed.
The final number is an incredible 12 trillion, which is the amount in US dollars which is due to be inherited by the kids and grandkids of those born in the 20’s and 30’s over the next decade. It’s set to be the biggest wealth transfer ever, and totals more than 152 times the total wealth of Bill Gates.
Watch the video and comment with which 3 numbers you think represent the US economy, and check out the official Financial Times website for a 4 week trial for just $1 https://sub.ft.com/spa_8/?ftcamp=subs/ft_display/trial/endcard/video/acquisition&utm_source=endcard&utm_medium=ft_display&utm_term=trial&utm_campaign=video&segid=0301050
On Thrusday(27.08.2015) Union Finance Minister Arun Jaitley said that, with a growth rate between 8 to 9 percent Indian can outpace China and become the lead driver of Global Economy.
In and interview, Jaitley told, “The world needs other engines to carry the growth process. And in a slowdown environment in the world, an economy which can grow at 8-9 percent, like India, certainly has viable shoulders to provide the support to the global economy,”.
The minister said that investors need not fear about any legislations to invest here as India has already laid down the “Red Carpet” for businesses looking for investing in India.
He added, “My message to the people wanting to do businesses in India is that there is a red carpet laid down for you. India needs investments, India invites investments and we are going to be one of the more investor-friendly destination.”
India is projected a growth rate of 8-8.5 percent in the current fiscal year whereas in 2014-15 the GDP grew by 7.3 percent.
Arun Jaitley said, “In an environment where there is a relative global slowdown, India seems to be doing reasonably well. We finished last year with 7.3 percent growth rate, will probably finish this year with a slightly better growth rate than that and next year hopefully will be a little better.”
International Monetary Fund(IMF) estimates that in 2025-16, with a growth rate of 7.5 percent India will overtake China as the fastest growing emerging economy. And there will be a decline in China’s growth rate from 7.4 percent in 2014 to 6.8 percent in 2015 and a year after 6.3 percent.
Finance Minister Jaitley said, “I see this as a great opportunity. The Chinese normal has now changed. It is no longer the 9 percent, 10 percent, 11 percent growth rate. If we can continue to reform at a faster pace and really attract global investment, then our ability to provide that shoulder which the world economy needs will be much greater”.
“When the Chinese economy slowed down a little, it didn’t impact much. When the devaluation and the currency war started we did get somewhat adversely affected. When global markets fell, we also felt a huge impact in terms of currency and markets. But within a day we had recovered”, he said when asked about the slowed down of Chinese economy and the crash in the stock markets.
Face it; this economy is not down, what it is changed, radically different and it is never going back to the way things were. There I said it, times have changed, and if you want to succeed, you need to change with them. If you are passionate about what you do, passionate about whom you serve, and passionate about the organization for which you work, then this is your economy! So, what do you need to do to get your economy moving, to get things back on track and pointing in a positive direction? Well here are the top five strategies today’s successful businesses are putting into place to position their organizations for business and sales success.
Embrace Reality – Wouldn’t it be great if someone would ride in on a white horse, or wave a magic wand, or click their heels three times and this economy would get back on track. But in reality, let me be the first to say, “That ain’t gonna happen!” No one else is going to fix this economy, because the truth is this economy can’t be fixed. Why? The reality is that it is not broken; it is changing.
Our society, our culture, is literally going through an economic shift — a transition so to speak. A transition that is bringing about extreme change, and with it a whole new way of doing business. So if you want to succeed in this economy, your first step is to embrace your new reality. Understand that times are different, things have changed, and you need to learn the new rules. Every two months brainstorm with your team or your peers about what you observe changing with your customers, your industry, your competition and your employees. Embracing your reality positions you to take advantage of change rather than fall victim to it.
Focus on Values – Welcome to the age of integrity, and the economy where what you do is as important, if not more important, than what you say. As a professional, CEO or business owner, you need to know who you are and what you stand for in order to attract, retain and truly deepen client relationships.
Today’s consumers want and expect more. With so much competition, and so many choices your customers are looking for more than a great product, they are looking for a professional they can trust. People and companies they can build relationships with; to win in the trust and value economy you need to define your values and implement a values strategy.
Build Your Image – White noise! If you asked me why most marketing dollars are being wasted and advertising messages are getting lost I would have to say white noise. There is just too much of it out there these days, and consumers are overwhelmed with too much information. To succeed in this economy, you have to get above the fray, you have to stand out, and you have to be anything but white noise.
In the trust and value economy you cannot survive on only those customers you go out and get; you need customers coming to you. You need to invest in designing a strategy that pulls customers to you. One that builds and enhances your image and communicates your reputation, you can actually drive customers to you, piquing their interest to come calling on you rather than you always calling on them.
Invest In Relationships – We have all heard it said time and time again: relationships are the new currency. While this has always been true, it has never been truer than in this economy. The more people you know, the more people who know you, and the more people you help, the more successful you are going to be.
Success today takes time. Consumers are tired of getting hit with sales people worried about making goal and pushing to make a sale. They are looking for that professional or business owner who truly wants to invest in helping them become successful. If you want to win in the trust and value economy, then you need a relationship strategy: A system to consistently and proactively build relationships with your customers and prospects; relationships that build trust and add value.
Get Your Head Out Of The Sand – There is more going on in this economy than what is happening in your business. If all you had to worry about was your own daily challenges you would actually be in good shape. But the trust and value economy is offering far more challenges and opportunities outside of your business than inside your business.
To be successful today, you need to routinely get your head out of the sand and take a look around. Every three or four months, get together with your team or your peers and ask; What is happening in the world around you? What is changing with consumers? How is your industry responding and growing? What is happening politically? What societal trends could positively or negatively impact your business?
So, are you ready to win in the trust and value economy? Simply by adapting these strategies, and putting a little time, effort and consistency into your process, you will easily position your company and your team to Win in the Trust & Value Economy.
About the Author
Meridith Elliott Powell, author of the 2013 Global Professional Publishing title Winning in the Trust and Value Economy, is an internationally certified coach, speaker, and business development expert. Founder and owner of MotionFirst, she helps executives and business owners build cultures that make sales fun, easy and incredibly productive. An award-winning business owner, Meridith’s unique background includes high-level leadership and executive positions in sales, marketing and finance. Her signature style and her ability to rapidly connect with people make her a sought-after speaker, coach and strategist. Honors include the Athena Leadership Award, inclusion in Verve Magazine’s “Top 20 Professional Women to Watch” (2010) and selection as “Best Business Coach” by the WNC Business Journal in 2008. She also just signed on with a major online radio network to host her own weekly show starting in June.
Worries about Europe’s debt problem grew after Germany and the stocks were falling again today. In the morning the Dow Jones Industrial Average had lost 74 points and down to 10,437, Nasdaq was down to 17 points to 2,300, and S&P had down to 1114 after lost 6 points.
Germany’s ban effect the euro as it continues to fall. After Germany’s announcement euro fell down in the morning to the 4 year low of $1.0144.
What is short sell?
It is a bet that short sellers play, they expect that the value of an asset will fall.
Everyone is talking about recession in the present US market. We cling to newspapers, televisions, news channels, and financial reports to find out what’s going to happen next in the recession period. Technically speaking, when a recession occurs, there is a decline in the GDP of a country for two consecutive quarters. This has a gruesome effect in real income, employment, industrial production, and wholesale-retail sales in the economy.
As per the National Bureau of Economic Research, there have been ten recessions since 1945. There are various factors that flush an economy into the weird state of recession but inflation is the main factor which contributes more towards the situation. Inflation is the condition in an economy when the prices of goods and services rise immensely over a certain period of time. The higher the rate of inflation, the smaller the percentage of goods and services can be purchased with the same amount of money. It may be because of the increased production costs, higher economy costs and national debt. When the prices of goods reach to the higher stage, people tend to cut down their spending habits and restrict themselves towards their necessities only and save as much as possible during this period. As a result, GDP declines when people cut down their expenditures in order to cut down costs. . This makes the companies to cut their costs as well and they chuck out workers which brings unemployment.
- There are certain factors that push an economy towards recession…
1) Credit crunch, which means shortage of finance.
2) Falling house prices. This is related to shortage of mortgages and credit crunch.
3) Cost push inflation squeezing incomes and reducing disposable income
4) Collapse in confidence of finance sector causing lower confidence amongst real economy.
Recession has a serious impact on the global economy. One of the major effects of recession is inflation. Recession comes into effect with inflation while on the other hand, it is one of the after effects of recession. Commodities will reach to their highest prices and people will cut down their costs. Hence, inflation becomes the major effect left out by recession. Another strong effect of recession is lower income. As people cut down their costs, they buy less items which reduces their income and as a result, fewer profits or no profits. Mortgage rates also go up during the recession period. Lenders will increase the mortgage rates so that they can cover some of the losses experienced during the recession period. Employment opportunities are also one of the major targets when the economy is burning under recession. In order to reduce the costs, companies cut down the employment opportunities thereby creating more and more unemployment in the economic market. When an economy enters into recession, companies experience very less or marginal profits during this period. The reason is that the tendency for price wars to develop in a recession. Firms get encouraged to cut down the prices due to the low sales and falling sales leads to lower revenue.