Introduction
What is life and how does one find happiness in this life? Some would say that life is what you make it. Others would say that being rich or having a lot of money makes you happy. Is that what life is all about? Money? Still, others say that living a life of service is one the best and most rewarding things one can do in this life. Some people call life a game…there used to be a board game called “The Game of Life”…”First you start with two thousand and a car….You could go far”, The Game of Life, was the theme. I would say that two of the most rewarding things in this life or things that could change your life is owning your own home or owning your own business. Today, I will discuss owning your own business. I will discuss …show more content…
Since I am an up and coming Masters of Business Administration (MBA) student at the Keller Graduate School of Business and currently studying economics, I will provide critical information on the following areas: The business cycle, GDP growth rate, Fiscal policy and level of unemployment, monetary policy and interest rates, International trade, and Demographics. By providing Cousin Eagar (who from this point on I will call Ed) with this background knowledge, I will attempt to help him make the best business decision and realize his dream of living life to its fullest by owning his own business, whether it is Good, Bad or …show more content…
The principles of business are simple. You go into business to make a profit. In order to make a profit one must do the proper level of information gathering, research and study. This is done to make sure whatever business one seeks to enter in, the background must be done in order to make the odds of going into business and being successful much better. Let’s face it, no one goes into any business to fail or not make a profit. The Business Cycle is “the periodic and/or irregular up and down movements in economic activity as measured by fluctuations in the real GDP.” (Moffatt 2013) The Business Cycle has four phases, which consist of Expansion, Peak, Contraction and Trough. Expansion phase depicts an upward growth in the economy. Peak phase is the top or height of the expansion phase. Contraction is the opposite of expansion, meaning a downward spiral in the economy. Finally, trough is the rock bottom of the contraction phase. (Pirayoff 2004) It is important for Ed to understand that economic activities like Inflation and deflation can affect the Business cycle and the GDP, which in turn can affect the way the market responds and the way banks loan money to small businesses. Since Ed is thinking about purchasing four (4) gas stations, he will more than likely need a small business loan. Ed must be aware of the current economic activity in the market and understand its importance. There are
What is life and how does one find happiness in this life? Some would say that life is what you make it. Others would say that being rich or having a lot of money makes you happy. Is that what life is all about? Money? Still, others say that living a life of service is one the best and most rewarding things one can do in this life. Some people call life a game…there used to be a board game called “The Game of Life”…”First you start with two thousand and a car….You could go far”, The Game of Life, was the theme. I would say that two of the most rewarding things in this life or things that could change your life is owning your own home or owning your own business. Today, I will discuss owning your own business. I will discuss …show more content…
Since I am an up and coming Masters of Business Administration (MBA) student at the Keller Graduate School of Business and currently studying economics, I will provide critical information on the following areas: The business cycle, GDP growth rate, Fiscal policy and level of unemployment, monetary policy and interest rates, International trade, and Demographics. By providing Cousin Eagar (who from this point on I will call Ed) with this background knowledge, I will attempt to help him make the best business decision and realize his dream of living life to its fullest by owning his own business, whether it is Good, Bad or …show more content…
The principles of business are simple. You go into business to make a profit. In order to make a profit one must do the proper level of information gathering, research and study. This is done to make sure whatever business one seeks to enter in, the background must be done in order to make the odds of going into business and being successful much better. Let’s face it, no one goes into any business to fail or not make a profit. The Business Cycle is “the periodic and/or irregular up and down movements in economic activity as measured by fluctuations in the real GDP.” (Moffatt 2013) The Business Cycle has four phases, which consist of Expansion, Peak, Contraction and Trough. Expansion phase depicts an upward growth in the economy. Peak phase is the top or height of the expansion phase. Contraction is the opposite of expansion, meaning a downward spiral in the economy. Finally, trough is the rock bottom of the contraction phase. (Pirayoff 2004) It is important for Ed to understand that economic activities like Inflation and deflation can affect the Business cycle and the GDP, which in turn can affect the way the market responds and the way banks loan money to small businesses. Since Ed is thinking about purchasing four (4) gas stations, he will more than likely need a small business loan. Ed must be aware of the current economic activity in the market and understand its importance. There are