Business economics is field where economics deals with issues like management, expansion, corporate strategy. It includes the interactions between the corporation and the role of government. The factors affect a economy and its operations is open market forces is demand and supply. These two factors are the main driving forces of an economy. Demand is defined as the consumer's desire and willingness to pay for goods or services. While supply can be defined as the total amount of the goods and services available to consumers. The present report is based on the fall in oil prices and their impact on aggregate demand and supply on the economy.
Overview of oil industry is the heat on several others front well. The oil industry is divided into three components upstream, midstream, and downstream. The upstream finds natural gases and crude oil (Mollick, and Nguyen,2015 ). The upstream is also known as the exploration and production stream. From an individual perspective, the upstream market provides worlds the 7 million people daily their energy needs. As fuels can be considered the main sources of energy for the people.
The oil economic is full of booms and busts. The reason behind downturn in oil market is the strong U.S. Dollar in recent year. After recovering from the inflation the country is focusing more growth and want to competing with the other countries like china. The global commodity market is usually affected by the U.S. Dollar which puts the market into pressure to reduce the prices. Oversupply of oil is other factor that leads to oil prices down .Since in Europe due to inflation, the demand of the crude oil declined. Introduce the more efficient vehicles and other resources like solar energy has become more demanding and useful(arak Nath Sahu Bandopadhyay, and Mondal, 2014 ). China's economy may be worse in the coming year since china is largest import In oil production this hit the demand of the oil on global level. in oil this hit the demand of the oil in global level.
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The Iran nuclear deal, in this deal the global powers is redesigning the framework of Iran's nuclear facilities. Investor fear it will add more oversupply to world. Markets reacted on this news and prices decline more.
In recent years the prices of crude oil is reduces. From a geopolitical perspective larger part of oil exporting from the middle east to another region like North America, Europe and far to East. The exporter countries want to expand their business while importer countries want to minimize their depend on fuel and improve their trade balances. The economic performance of UK is not goods since the country is facing major crises like inflation and instability in political area. and want to(Tawadros, 2013. ) . The services sector is likely to growth in recent years but the manufacturing sector need to boost up. To fall oil prices of is good sign country is net importer after introducing the renewable energy projects. It seems like fall in the oil prices will bring some economic growth in country and helps the country to grow and overcome from the inflation.
Economics is a broader study about how individuals, businesses and societies use the resources, whereas commerce involves the study of goods sold by producers to the consumers. Economics and commerce both are different concepts by this trader is influenced by economic conditions of a country. Trader can achieve high returns by understanding both concepts of economics and commerce.
Culture plays an important role in improving organisational performance and plays a positive and significant role in employee performance. The role of a leader is very important in achieving organisational goals. The employees should understand, except and follow the companies culture to build good relationship with co-workers and management. This is one of many external variations in which leaders must be enthusiastically engaged. It is another area that requires personal reflection related to one's own cultural heritage and influences. As in all areas of leadership, successful interaction with other begins with acceptance of self.
A mission statement is a summary of an organisation goals and values. Its quality and content can affect every part of a business, including its customers. This statements helps to unify the efforts of all employees toward a long-term goal. It helps in communicate a company’s value to their community to generate interest in the solution which they are providing.
Management science theory is primarily concerned with exploring how a business can manage itself with the aim to maximize productivity. Through developing a system that allows assimilation of scientific thoughts that can helps the managers and owners to solve the range of problems and issue arising from managerial weaknesses. Due to less knowledge of this theory it enables small businesses to make more profit. Small business owners and managers can utilize this approach to design specific measures that identify and evaluate the effectiveness of certain process. To tackle this can develop basic computer applications that can help them to predict and analyse management issues that arise at multiple levels of the firm.
In the GLOBALIZED, “flat" world, do we still need a special field of study called "international business"? Yes, we do and more than ever. Opportunities to engage across national borders are rapidly growing in scope and complexity. IB scholars explore how and why cross national differences matter and how business is able to transcend national differences. GLOBALISATION is used to describe the growing interdependence of the world by cross-border trade of goods and services. Increase in trade between different countries helps the big player to maximize their as well as world economy. This makes the customer to select different variety of products which are imported from various parts of the world. COSTA RICA is a country in central America, it has a population of around five million. The country has consistently performed favourably in the human development index, placing 62nd in the world as of 2021 and fifth in Latin America. Costa Rica has free trade agreements with several countries around the world. There are no such trade barriers that affect imports from different countries. Free trade zone provides incentives for manufacturing and service industries of different countries to operate their business in costa Rica.
B2B Industry, IA a type of commerce, in which the exchange of goods, products and services takes places between 2 businesses, the final consumer of goods and services which is customer cannot take part in these process. A transaction is conducted between two companies, such as wholesalers and online retailers, each organisation has various benefits and typically has similar negotiating powers. It has conducted via different categories of website (like company website, brokering sites etc.
Urbanisation refers to the population shifting from rural areas to urban areas, the corresponding decrease in the ratio of people living in rural areas, and the ways in which societies adapt to this change. In the course of time, commerce became an increasingly important part of city life and one of the magnet that drew people from the countryside. Invention of the mechanical clock, the windmill and water mill and the printing press, is the interconnection of city inhabitants continued apace. Cities became the places where all classes and types of humanity mingled. Creating a heterogeneity has become one of the most celebrated features in urban life.
Changing face of business, today businesses are run very different from how they ran even fifteen to twenty years ago. They are relying on the changing or modified technologies in the market that helps the businesses to co-ordinate and communicate with different organisations in the world. This progression has enabled employers to use their ability or skills in different countries through this they have become more dynamic. As the younger generation of employees enter the workforce, we will see a massive rush into the virtual realm of business.
News media is a tremendous source of information for individuals as well as society. It helps the message to get across to wider audience by mainly television, newspaper and radio. Through media information will spread faster than it could not be spread without media coverage.
Advertising is the mean of informing and influencing a vast audience to buy a product or service through visual, oral and written messages. It can be described as a paid form of non-personal presentation and promotion of ideas, goods and services. Display, video, mobile and native these are multiple types of advertisements presents in today's world. Sustainable packaging is the development and use of packaging which results in improved sustainability. Through the usage of this type of packaging it reduces the environmental impact and ecological footprint. The goals are to improve the long term viability and quality of life for human beings and longevity of natural ecosystem.
Cleaning is the process of removing unwanted substances such as dirt infectious agents and other impurities from an object or environment. Cleaner or a cleaning operative is a type of industrial or domestic worker who cleans homes or commercial premises for payment. Entrance areas, bar cleaning, standing area, cleaning tables and surfaces etc. are some kind of cleaning services required by the restaurants. Green cleaning, emergency response cleaning, glass cleaning secure cleaning are some types of requirement needed in commercial cleaning.
Pepsi global perspectives, the globalized world is considered to be shrinking due to increases in the speed of communication and reach of powerful corporations. Pepsi campaigns and global distribution generates the need for international expansion and job opportunities in other countries. In order to maintain a positive global image, Pepsi attempts to increase diversity, environmental sustainability, and the rights of the labour. Pepsi attempts to create an image of social consciousness by trading on its image of sensitivity to local political and environmental concern.
The luxury goods market is growing and an increasing number of several people are willing to be buy expensive and luxury goods. To communicate with the customer’s luxury brands are adopting social media platforms. The frequency of buying luxury goods in general is irrational is they are often purchased because there is no logic in buying luxury goods as they are the desires of a rather than their basic needs. Hence products are used as often as possible in order to signal status.
Reduce amount of resources affect business, it means funds and resources play a very important role in the success of a business. Without sufficient resources business will struggle to even come up with a new product. Proper management for using resources can help the companies to consistently and effectively deliver their products and services on time, this is because better resource management helps improve insight into resource availability as well as improves timeline projections.New job is a job in a new or expanding industry but it does not include jobs of recalled workers or replacement jobs. Opportunities for growth are situations where employee can advance in career. To get success is to find ways to improve your skills and applicable knowledge. It includes improved sense of wellbeing, better work performance, less stress and anxiety, higher job satisfactions, more self-esteem and confidence.
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