Economics Discussion

I’m studying and need help with a Economics question to help me learn.

PART A

1. PLEASE RESPOND TO CLASSMATE DISCUSSION WHETHER YOU AGREE OR NOT & A DETAILED WHY:

I have chosen to do Ireland mainly because it is a country we are not currently in today, and I have a heritage that traces back to Ireland. I know that is not the best way to determine where to do business but for the sake of this project, I will determine if it would be a good place for my company to expand into. We do currently do business in England, and therefore I do not feel it would be a big stretch to expand into Ireland.

My company, Catalina Marketing, does shopper data collection. We use this data to then create promotional activities for the retail grocer or pharmacy. We not only provide the promotional services such as coupons, but we have gotten into the business of tracking shopper behaviors and enabling our customers, the CPG brand, or the grocer themselves, to change that behavior.

As far as the economic indicators as listed on Trading Economics, Ireland’s GDP annual growth rate for last year seems to have been at 6.2 percent, and so far this year it is at 4.6 percent. Which seems really good. I will need to take some time and really learn this site and how to read these numbers better, but from all that I can see that is where they are sitting. The unemployment rate is at 5.3 percent, and the inflation rate is at -0.4. From first glance, it seems they are doing exceptionally well. I will be digging into these numbers a lot deeper this coming week to understand them better.

An indicator that might be more important for my business, consumer confidence, it seems to be at 62.6 points, which I believe is doing very well. So far this looks very promising for my company and the outlook for our expansion into Ireland.

2. PLEASE RESPOND TO CLASSMATE DISCUSSION WHETHER YOU AGREE OR NOT & A DETAILED WHY:

The target overseas country I chose was Canada. I chose Canada because I felt it would be a good place to expand the Finish Line, Inc. brand. I have always wanted to visit Canada and have heard it was beautiful. With Canada having a colder climate at times, it could help the company’s growth with products. The Finish Line company is known for its athletic wear, but I believe we can expand the companies cold weather products. The company already sells winter boots and some winters coats. The brand can expand its selling potential and get into the cold climate wear market. This would bring a different demographic of customer into the store. Canada is truly diverse in religion and culture, with several different sports teams. Also giving Finish Line access to sell team jerseys in the stores.

  • Using any of the G, U, or I indicators, select two indicators and explain how these relate to your chosen target country’s economic health.
  • I chose G: According to Trading Economics “household consumption is the main component of GDP and accounts for 58 percent of its total use”. Meaning with this economy people are in the habitat of purchasing goods. So, a retailor like Finish Line, could thrive in this market.
  • I chose U: According to Trading Economics “the unemployment rate in Canada fell to 12.3 percent in June 2020 compared to the record high 13.7 percent in May 2020. Adding 952.9 thousand jobs back to the economy over the forecasted 700 thousand”. This shows the unemployment rate is trying to recover from this pandemic. More things are starting to open, which means people will want jobs. People working will have sales to grow. We as a retail store would not just rely on our brick and mortar store for profit. We would also we sell online and advertise curb side pick up for our customers giving them more options.


PART B

1. PLEASE RESPOND TO CLASSMATE DISCUSSION WHETHER YOU AGREE OR NOT & A DETAILED WHY:

After analyzing what business cycle is my home, I have to say that we are at the recovery phase, thankfully, my girlfriend and I are still employed. However, we were in a trough cycle about five months ago when she lost her job (JWMI, 1). On the other hand, Mexico, the country that I picked is in a Trough part of the cycle, and it shows a downhill in its GDP.

My company is on Peak because of employee development, retraining, and re-skilling is very important for many organizations. We are finding that organizations want to partner with us so we can assist with their employee development and re-skilling for new jobs and areas post-COVID and post-pandemic. Now the industry depending on where it is being approached it could be in a Peak or a Trough cycle because higher education and Universities based out of campuses are having a tough time trying to fill up the university with students.

Where we are fully online-based education, and we help employees from organizations directly to complete their education from their homes. As a result, more and more employees are taking advantage of the moment to work on their development as we are currently doing.

The re-skilling piece is crucial for companies across the world. Knowing that Mexico is currently going through a Trough cycle in its GDP, it will be vital to approach business with a future investment point of view of its employees. Us helping them with he re-skilling will allow those organizations to bring engagement within their companies and production higher in comparison to years prior.

We have particular partnerships where were can offer business access to two different universities for their employees with no out pocket expense. These deals have been explicitly being designed for specific organizations allowing us to have more access to their employees to promote education and future career development, increasing our registration numbers during the pandemic.


2. PLEASE RESPOND TO CLASSMATE DISCUSSION WHETHER YOU AGREE OR NOT & A DETAILED WHY:

My chosen company is Finish Line, Inc. a retailor specializing in the sale of athletics shoes and apparel. My home country is the United States, and my target company is Canada.

Due to the COVID-19 pandemic my home country the United States and my target country, Canada are both in the middle of a recession. Alexander explains, “forecasters are still struggling to assess the degree of economic decline, because it is not clear when containment efforts can be relaxed and when a vaccine will be available” (April,2020). Before the pandemic hit, both countries economic where doing well. The United States economy had been in an expansion phase for 11 years (Amadeo, 2020).

The Finish Line company is a retailor, that specializes in athletic shoes and apparel. At this time, I would say the company is in a in between status. Amid expansion and contraction. Finish Line is not only a brick-and-mortar store. So, consumers have had access to purchase things on the website and thru the company app. With more states starting to open sales for in person and online will continue to growth. With the start of most schools being uncertain parents will start to get the kids supplies ready for reopening.

This data can be used for my target country. Canada and the U.S. have similar economic highs and lows, with the GDP. These countries are in the middle of a recession due to the pandemic and the uncertainty for what lies ahead. But when things start to open back up you will see both countries in a recover process.

The innovations that will help my company grow is technology. With technology of the mobile kind you can buy and ship at your fingertips. With the Finish Line company having a website and a mobile app, these two things make them accessible to consumers. People can have the products delivered to them or access the store pickup option.

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