Introduction to Economics; Market Equilibrium and Market Forces

Submit your completed strategy and change management plan. It should include all critical elements of the final project, incorporating all feedback and knowledge gained in the course.

 

1 Assignment:Economic Environment

 

In 2018 I worked in a soft drinks company where they adopted the recent technology in the production to increase the production rates and the accuracy of the quality of the products. After the introduction of the technology in the company, a large number of people lost their jobs since the tech replaced the labour and was cheaper than the manual production that involved individuals directly. The technological factors are one of the external factors that are increasingly affecting the business organization. The business changes relate to the presence and the development of technology.

The technology increases the supply of the products. The increase in the supply enables the company to keep up with the demand for the soft drinks. The technology enables the company to increase the productivity and the communication between the suppliers and the consumers. The company can cut down the waste as well as keep up with the demands due to technological advancement. The technology also increased the accuracy in production due to the machinery that was more accurate than the human labour and the company was able to cut down the waste again. The company reduced its expenditure in terms of the losses incurred due to poor production.

It is important to consider the environment while thinking about the strategy change. The supply and demand within the business affect organizational ability. The demand and the supply stimulate each other impacting the prices of the goods and services in the budget. The customer’s interest in specific products exhausts the supply available and increases demand. The demand and supply of goods and services have a high influence in determining the prices of goods and services. The prices of the product are likely to fall if the supply keeps on growing and if the supply keeps on decreasing the prices are likely to keep on growing (Becker, 2017). However, with the market economy, the interest consumers, as well as the companies, produce limits product that matches the demand and the supply and it is used in determining the product development and production.

References

Becker, G. S. (2017). Economic theory. Routledge.

Introduction to Economics; Market Equilibrium and Market Forces

Macroeconomics: Crash Course Economics #5

 

2 Assignment: American Apparel

 

American Apparel Company is a clothing Manufactures Company. The company designs its clothing distributes and markets its products. It is situated in North America. It is one of the largest marketing companies situated in Northern America. The mission declaration of American Apparel Firm declares that the company is dedicated to high-quality yields, underling care, confines in the business and art, project and tech. The mission statement indicates that the company ensures they preserve the needs of the workers. The company makes Quality clothes without exploiting the workers (Moor, and Littler, 2014). Most of the company workers have indicated that they remain in the company due to the company’s mission statement. The company manufactures in the US because the states is a vivacious T-shirt arcade globally. That makes the market the most effectual residence to produce the T-shirts.

Company Vision 

The Vision declaration of the company is a commitment to High Feature Goods through Art, enterprise and tech. The company meets the mission statement through the strategies indicated in the vision statement. The company utilized the technology and passion to cope with the ethical practices within the clothing industry (Keist, 2015). The company has integrated manufacturing, distribution and creative processes that ensure that the company is more efficient in comparison to the companies that rely on the offshore subcontracting.

The company’s culture identifies an exceptional enactment and endorses the performances in the interior. The company embraces the ideas of the workers. The workers have an opinion and they impact the path of the corporation. Through the labors, the company is embraced with several ideas and a high number of innovations through the worker’s creativity. The company ensures that they maintain their worker through ethical practices. They do not exploit the workers due to the labor and transport costs that have been increasing since the company believes it is morally offensive.

Company Challenges