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 once. It had been very difficult to start out in the world of Business Administration as a student during this rough economic time. Many students have had a difficult time getting involved in the business world due to the low demand in jobs and internships. This is a big issue because it does not allow students to understand the real conflicts and agreements that have to be made day by day in the business world. Another thing is that it also limits their views to understand this same world. In December 2007 The National Bureau of Economic Research (CNN) said that the United States of America had fallen into a recession. The recession meant that people were loosing jobs and that people were spending too much money and even money that they did not have. A major reason that the United States fell into the recession was because banks and private businesses were giving credit to people who could not afford to pay back or had a bad credit to begin with. This was a major problem to all types of busin... ... middle of paper ... ...es are a great way to start out a internship in a Business Administration career because they hire people from the community and people that are not required to earn a high payment as a beginning salary and people who want to learn about the business. At some internship interns do not get paid for the hours they worked because to graduate it’s a requirement and you need them to learn and get a better feeling about the job. As you can see there are many problems that affect the career of my choice. The economy is something that we have to live with and cannot live without it. The economy is the basic fundamentals of this career and the soul of the world. Business Administration is a very interesting career to study because it is never stable and it is never the same thing over and over again. The economy changes day-to-day and so do people and their style of living.
This paper aims to discuss the Short-Term and Long-Term Impacts of the Great Recession and
The authors statements in his essay are ones every student coming into college age should hear. Though it is widely known that our economy has been through hard times, it is great to hear the prospective of a college student learning valuable life lessons. The motivation to use this first hand knowledge and see its potential to motivate himself through his studies is a lesson for all students.
What at first seemed to be an economic slump turned into a brutal crisis, and all eyes looked to the Government and Federal Reserve to help the economy. With the large amount of debt the economy faced the Federal Reserve stepped in and bailed out the banks in an attempt to smooth over the financial struggles of the economy. The banks that survived took precautionary measures, making it difficult for businesses and consumers to borrow (Love, 2011). Thus leading to businesses failing and less jobs being created. The large amount of debt had also taken its toll on the job market. Between 2007 and 2009 employment dropped by 8 million workers, causing the unemployment rate to go from 4.7 percent to 10 percent (McConnell, 2012).
In 2001, after the longest period of economic expansion the country has witnessed historically, the United States of America entered into its tenth recession since the end of World War II. A recession transpires when at least two quarters of a year are plagued by a sharp downturn of the country’s gross domestic product or GDP. More specifically, when a recession occurs, unemployment increases resulting in less consumer spending which is associated with poor business performances. Studies by the National Bureau of Economic Research (NBER) concluded that during March of that year, a pinnacle in business occurrences declared the end of the expansion and the arrival of an inevitable and damaging though short recession. In a state of urgency, the president at the time, George Bush, encouraged Congress to ratify a stimulus package plan which would seek to improve the standing of the economy. The NBER theorized that the infamous act of terrorism which took place on September 11th placed an even greater strain on the already damaged financial system because it wreaked havoc on many markets and businesses such as the airline industry. Many times, a recession occurs due to economic disasters that are enough of an impact on society to disrupt expenditures of large-scale businesses and individual citizen households. Consequently, aggregate demand decreases along with employment. Factors such as international conflicts, technological fluctuations and the endeavors of monetary legislators all contribute to the overall American economic status.
The career I have chose is Physical Therapy(PT). Physical Therapist do many different things, but their main function is to help impaired or physically disabled people enhance their movement and handle their pain. Physical Therapist are a main source in the rehabilitation, medical care and prevention of people with long lasting illnesses or damage. The reason I chose this career is because I love helping people and enjoy seeing people be motivated and succeed at their task. To help someone gain full strength in their limbs or maybe even learn how to walk again is my lifelong dream. It is important to understand the education or training requirements, skills or talents needed, salary and benefits offered, and the duties for a particular career
In economics, a recession occurs when there is a slowdown in the spending of goods and services in the market. A recession causes a drop in employment, GDP growth, investment, as well as societal well-being. All recessions are caused by a specific cause, but the Great Recession of 2007-2009 was caused by a crash in the housing market. This crash was triggered by a steep decline in housing prices. All of a sudden, people bought houses because there was an excessive amount of money in the economy and they thought the price of houses would only increase. (Amadeo, 2012). There was a financial frenzy as the growing desire for homes expanded. People held a lot of faith in the economy and began spending irrationally on houses that they couldn’t afford. This led to overvalued estate and unsustainable mortgage debt. (McConnell, Brue, Flynn, 2012).
Many of my friends pick their careers based on money and trade skills that they have. I am proficient in art and design, but didn’t feel like that was what I wanted to do for my career. Your career shapes a huge portion of your life. It is what you do every day, for a large portion of your life. It is what I have prepared for the past 12 or so years of my life. It is way more than just money or a skill. I wanted to do something unique, something interesting, something that would inspire me to be a better human, something that would make me feel, something that is challenging, something that helped others, and above all, something that was rewarding and made me feel fulfilled.
The career I wish to pursue is that of a stockbroker. I am extremely interested in the trading of stocks and financial holdings so the career of a stockbroker just seems to fit in with my overall plan. Numbers have also always been a fascination of mine and the trends of the economy and long term financial outlooks have often interested me greatly. Stock broking is a risky business that one needs to be prepared for highs and lows if choosing to pursue. You must understand what a stockbroker truly does to even begin to follow this as a life long career.
There are countless advantages to being an intern for companies and businesses. Raven Rush, a reporter for the BG news, wrote an interesting article about the recent debate nationally over paying interns called, “Student Workers weigh in on national
Business internships are helping students gain real world experience while they are not actually out in the real world yet. Internships are becoming more and more popular with college students in today’s world. An internship is basically when a student in college goes to a company or business and works while they are still enrolled in school and still getting academic credit. The main purpose of the internship is for the student to gain valuable on the job work experience. But there are also other things that a student can get from internships. Internships help the student decide whether or not this line of work is correct for them. Since the student works in an occupation in which they are highly interested in it really helps them get a bigger picture of the outside world.
Money supply is the availability of money in the hands of the public (economy) that can be used to purchase goods, services and securities. In macroeconomics, the price of money is equivalent to the rate of interest. There's an inverse relationship between money supply and interest rates. As money supply increases, interest will decrease. On the other hand, interest will increases as money supply decreases. It is very important to understand that the economy works at market equilibrium. There are several factors affecting money supply; and these contributing factors will be the main focus of this paper. Understanding the basic principle on money supply is imperative to have a good grasp on the macroeconomic impact of money supply on business operations.
Economics is the term used to describe the production, distribution, and consumption of goods and services. In addition, economics is the study of scarcity, Our economy is important because it gives us an opportunity to understand better, how business, society, and the world are doing overall financially. Our economy as it stands now is barely standing. The government is in debt by trillions, and furthermore, This means an increased competitive job market. However, one needs to consider many different factors when choosing a career to give them the best chance of being happy and fulfilled. People need to ask themselves, will the job fit my personality? Will I have to travel or relocate? Can I physically do it, and what is the compensation? There are many questions to ask in each of these categories. Personality traits like being outgoing, sociable, and helpful are great for childcare, doctors, or in the service industry. People that have detail-oriented personalities might enjoy banking or accounting. For the creative personality, there are painters, musicians, and actors. People must also look at the physical demands. Will you enjoy the hard labor of a contractor, or would you rather sit at the desk of an architect, or do you prefer somewhere in between such as a biologist who spends half their time in the field. Will you need to travel a lot like a pilot or relocate where opportunities in the selected field are greater? Do you want to be largely on your own such as a freelance writer? Do you work better supervised, or would you rather be the supervisor? Then there is the question of compensation. Do you want the five-figure salary? or can you be happy with a median salary? Our career decision affects us for the...
Several financial statements have been prepared to describe the causes of this current financial failure. There are a variety of factors that has resulted in the explosion of this financial crisis. Downfall of the US housing market; highly benefited financial dealings and a low interest-rate promoting borrowings, have all contributed to the recession monetary market. Let us now consider these various reasons in a little detail.
You will learn what you can do and the areas you need to work on in your studies. An Internship will help you gain the confidence you need to perfect your abilities. You will also gain valuable work experience. It also will give you some insight on how to solve problems with in your work area. Your internship will help you network by establishing a contact base, and references which can give you future letters of support. Internships provide hands-on learning opportunities, and also can lead to employment. All internships do not guarantee employment, but the experience is worth it. Whether you are compensated or not, the internship can provide you some academic credit to help you farther your education. Emp...
Coming to the point of my current career choice has been a long road. My idea of what a career is or should be has changed with circumstances and age. According to Weintraub (2005), “the average worker spends only four years in a job and will have 12 jobs in as many as five career fields during his or her working life.” (para. 1) My first career was marriage and motherhood followed by a surprising healthcare career. What the future holds waits to be seen. With a bachelor of science degree in information technology the options are wide open.