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Assignment Iii

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Submitted By jrg92
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Joseph Garrity
Intro to Business
Professor Patricia Devlin
13 September 2013
Chapter 1
7. Explain how current economic indicators, such as inflation and unemployment, affect you personally. Explain how they may affect you as a manager. The current economic indicators may affect me personally because if the unemployment rate is too high I will struggle to find a job, and if inflation is too high then it would be very hard for me to pay for my needs, such as food and rent. The current economic indicators may affect me as a manager because inflation would cost me a lot of money and as a result I would have to stop hiring workers. The unemployment rate would rise because of inflation, and as a result it would be hard to find workers.
9. Visit a local shopping mall or shopping area. List each store that you see and determine what degree of competition it faces in its immediate environment. For example, if there is only one store in the mall that sells shoes, that store represents a monopoly. Note those businesses with direct competitors (two jewelry stores) and show how they compete with one another. In the Willowbrook Mall, Abercrombie & Fitch is a store that sells primarily clothes or accessories to the consumers. However, the competitors are Hollister Co., J. Crew, and Banana Republic because they also sell similar items, but have their own brand of clothing as well. They have different prices or the same prices depending on the clothes they are selling.

Follow-up Question 3
3. Eventually, what form of competition is likely to characterize this marker? The form of competition that is likely to characterize this market is oligopoly.
Chapter 2
8. Identify some specific ethical or social responsibility issues that might be faced by small-business managers and employees in each of the following areas: environment, customers, employees, and investors.

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