Free Essay

Eco-306 Short Paper

In:

Submitted By Lecyr511
Words 804
Pages 4
ECO-306 Short Paper 1
Southern New Hampshire University
Lindsay Cyr

The Financial System is a heavily connected network of brokers, developers, and markets that have three main objectives: allocating capital, dividing risks, and simplifying many different types of trade. Conveniently connecting borrowers and lender is the system’s primary goal. Borrowers meaning inventors, entrepreneurs, households, governments, stable businesses, and foreigners that have money making business ideas but not enough financial resources to fund these ideas. Lenders or savers, meaning households, businesses, governments and foreigners that have an abundance of funds. The Financial system also is able to connect those who are opposed to taking risks to those that prefer to take risks. (Wright, R. E. 2013) The Financial System affects my life in several ways, for instance as our textbook mentions, technology such as automobiles and cellphones, thing we rely heavily upon, would not have even existed if not for The Financial System. However, I wasn’t aware how much The Financial System really affects my life personally until my husband and I decided to purchase our first home last summer. When you go to buy a home you take out a mortgage, and the interest rate that you receive that is charged on the mortgage is referred to as the mortgage rate. Lenders usually decide what the mortgage rate will end up being. Mortgage rates can be either a fixed mortgage rate which means it doesn’t change over the life of the mortgage, or variable meaning it changes based on the current market interest rate. The thing that has the most impact on your mortgage rate you receive, and whether you will even be able to take out a loan on a home at all is your FICO (Fair Isaac Corporation) credit score. Your FICO credit score is comprised of your three credit scores from the three top credit reporting agencies, Experian, Transunion, and Equifax. Lenders use this score to determine the individual or individuals applying for the loan, risk and whether or not they should give them a loan or not. There are five categories that lenders look at pertaining to your credit report these include: payment history, current level of debt (debt-to-income ratio, which is the percentage of your gross income that is used to pay your outstanding debt), what type of credit the individual has taken out and how long the individual has had credit, and any new credit the individual has taken out including how many inquiries are on your credit report. If you have several new inquiries, this usually sends up a red flag to lenders. The better or higher your credit score is, the better or worse your mortgage rate will be also it decides your chances of being able to finance that dream home. People that are in the market for buying a house that have a FICO score of less than 620 tend to have a harder time getting a lender to grant them a loan in order to finance a house, whereas people with a FICO score of 740 usually have no trouble and are in fact probably going to get the best mortgage rate available. My husband found this out the hard way, while we did have FICO credit scores above 620, our credit scores were considered to be average. We realized we had a lot of clean up to do with our credit history before it would be possible to get a loan, not to mention the fact that it was such a competitive market out that their we got several houses swept out from underneath us. It was a lengthy process filled with disputes on things reported on our credit reports and paying off things we forgot we even had or didn’t think would affect us getting the home. The fact of the matter is that lenders will look at everything. If my husband and I had paid more attention to our credit and monitored it better, prepared and did more financial planning rather than procrastinating, we probably would have been better off throughout the whole process and not hit so many snags along the way. We also probably could have gotten a better mortgage rate than we have now, but at least our rate is fixed so we don’t have to worry about any surprises there.

References
FICO Score Definition | Investopedia. (2004). Retrieved April 18, 2016, from http://www.investopedia.com/terms/f/ficoscore.as
How Your Credit Score Impacts Your Financial Future. (n.d.). Retrieved April 16, 2016, from http://www.finra.org/investors/how-your-credit-score-impacts-your-financial-future
Mortgage Rate Definition | Investopedia. (2010). Retrieved April 16, 2016, from http://www.investopedia.com/terms/m/mortgage-rate.asp
Wright, R. E. (2013). Money and Banking (2.0nd ed.). Irvington, NY: Flat World Knowledge.

Similar Documents

Premium Essay

Business

...(Eyzaguirre, 2001). This is a good gesture as it provides a basis on which to protect local systems of innovation through granting them intellectual property rights, whenever such innovations are discovered. But what is the link between Indigenous Knowledge Systems (IKS) and eco-tourism? As discussed in this paper, ecotourism - a fairly new concept emerged in the late 1980s to provide a firm basis for sustainable tourism principles. Indeed the emergence of ecotourism - which is arguably supposed to be sustainable was necessary given that conventional tourism popularly referred to as ‘mass tourism’ was becoming unsustainable and hence leading to high negative impacts/costs than earlier thought. As a result of this the world was begging for sustainable tourism development tourism that can last and benefit future generations the way it has benefited the currents ones. It should be noted here that sustainable tourism just like sustainable development hinges on four major pillars, namely: social, economic, environmental and cultural pillars. Ecotourism being a component of sustainable tourism is therefore analysed along theses pillars in terms of how it relates with Indigenous Knowledge System in Kenya. This paper attempts to discuss the definitions and concepts related to IKS and ecotourism, then...

Words: 8874 - Pages: 36

Free Essay

Case Study

...rP os t 9-306-037 REV: JANUARY 18, 2007 JAMES AUSTIN JAMES QUINN Ben & Jerry’s: Preserving Mission and Brand within Unilever op yo In December 2004, Ben & Jerry’s head of Social Mission, Yola Carlough, sat in her office in South Burlington, Vermont, talking with the company’s “social auditor,” an external consultant hired to generate an independent perspective on the company’s performance. Together, the two were compiling data for a forthcoming report, Social and Environmental Assessment 2004, in which Ben & Jerry’s social and environmental performance would be assessed in a comprehensive, candid fashion. The auditor had been conducting the report annually since 1996, each year evaluating the extent to which the company lived up to its ambitious three-part mission of “linked prosperity” under which its product, economic performance, and social contribution were viewed as “interrelated.” tC Carlough took a moment to reflect on the dramatic change that had swept over the ice-cream company since she became its head of social mission in 2001. Since then the company had transitioned from a self-described quirky, independent-minded maker of premium ice cream, to a division within a large multinational corporation. When Ben & Jerry’s was acquired by Unilever in September 2000, many familiar with the company’s unique brand and mission were concerned with how the company might change under the direction of a large parent company. Many employees, ...

Words: 8645 - Pages: 35

Premium Essay

Format

...Total No. of Questions : 4] [Total No. of Printed Pages : 2 [3874]-101 B. B. M. (I.B.) ( Semester - I ) Examination - 2010 INDIAN BUSINESS ENVIRONMENT (New 2008 Pattern) Time : 3 Hours] Instructions : (1) All questions are compulsory. (2) Figures to the right indicate full marks. [Max. Marks : 80 Q.1) Answer in 20 words each : (Any Ten) (1) (2) (3) (4) (5) (6) (7) (8) (9) Define Environment. Parallel Economy Causes of Regional Imbalance Economic Environment Two Examples of Topography affecting Business Infrastructure Conservation of Resources Sustainable Development Water Resource Management [20] (10) List down any two effects of Global Warming on India. (11) Mention any two examples about effect of Technology on Business Environment. (12) Kyoto Protocol (13) Noise Pollution [3874]-101 1 P.T.O. Q.2) Answer in 50 words each : (Any Two) (a) (b) (c) (d) Explain concept of Indian Business Environment. Explain in brief about Green House Effect. Describe effects of River Pollution. Mention causes of Regional Imbalance. [10] Q.3) Answer the following in 150 words each : (Any Two) (a) (b) (c) (d) Describe Impact of Climate on Business Environment. Discuss Causes of Poverty. Explain Role of Tradition in Setting of Business Development. Give brief account on types of Resources. [20] Q.4) Answer the following in 300 words each : (Any Two) (a) (b) (c) (d) Examine in detail need of Environmental Studies for Business. Explain Principles of Conservation of Resources for Sustainable...

Words: 13002 - Pages: 53

Free Essay

The Precautionary Principle as a Basis for Decision Making

...1.) In the featured article “The Precautionary Principle as a Basis for Decision Making”, the author, Cass R. Sunstein provides his view on the practicality of the Precautionary Principle and the impact it could have on major policies across the world. The basic underlying principle of the Precautionary principle is that “it is better to be safe than sorry”. The principle can be adopted in many scenarios and it different aspects. An example of the strong application of the precautionary principle was at the Wingspread Declaration at 1998, which advocates the use of precautionary measures even before the cause and effect relationship is examined. The European Union has openly endorsed the principle as a basis for decision making but is yet not clear on how it would be applied to specific scenarios. The Author suggests an examination of the principle’s strengths and weakness as it has potential application in critical areas such as climate change, nuclear power and even war. Even the basic interpretation of the principle raises difficult queries. Without assigning costs to safety, one cannot quantify on how much safety is required while applying the principle. Another issue with the strong application of the principle is that it completely tries to eliminate risk without realizing that eliminating or reducing risks at one end will definitely impact and increase the risk at the other end. There exists risk in every scenario as we live in a world which is scarce in resources making...

Words: 3090 - Pages: 13

Free Essay

Microcultures in Canada

...Microcultures in Canada A Comparative Approach Introduction Every society contains both a mainstream culture and many different subcultures. The mainstream culture is how one is identified as. However, microcultures consist of how we identify ourselves within the global mainstream culture. There are multitudes of ways to participate in a microculture. It could be along ethnic, religious lines, or even lifestyle. All these factors come into play with regards to the different aspects of microcultures. This paper will delve into all three types of microcultures; it will look at Vietnamese, Jewish, and Vegan cultures and compare them to mainstream Canadian culture. The subsequent comparative analysis aims at finding differences in an attempt to better understand and communicate more effectively, by clarifying the common misunderstandings that arise when communicating with different microcultures, whether in business or everyday life. Vietnamese Background/History/Evolution Representing one of the largest non-European sub-cultures in Canada, the Vietnamese community ranks 5th in terms of size and comprises just over 150,000 individuals. Concentrated in metropolitan areas, close to 60% of the population resides in Toronto, Montreal, Vancouver or Calgary (Statistics Canada see Appendix B). Despite currently being a sizable group, this sub-culture was virtually non-existent prior to the Vietnamese war that took place between 1964 and 1975. It wasn't until the conflict arose...

Words: 7095 - Pages: 29

Premium Essay

3 Kinds of Supermarkets

...household merchandise and organized into departments. The supermarket characteristically comprises meat, fresh produce dairy, baked goods departments, along with shelf space reserved for canned and packaged goods as well as for various non-food items such as household cleaners, pharmacy products and pet supplies. Most supermarkets also sell a variety of other household products that are consumed regularly, like alcohol, medicine, clothes and some stores sell a much wider range of non-food products. A supermarket is larger in size and has a wider selection than a traditional grocery store also selling items typically found in a convenience store but is smaller and more limited in range of merchandise than a hypermarket or big-box store. In this paper we divided supermarkets of the worlds into three categories: * Convenience stores also called corner store, a small store that stocks a range of everyday items such as groceries, toiletries, alcoholic soft drinks and tobacco products. * Regional supermarket, a superstore which is bigger than 3000 square meters, contain routine weekly needs for most people can be satisfied in the case that adequate merchandise are sorted perfectly. * Warehouse supermarket, a large membership warehouse club chain, manifold of products with cheaper price and greater quantity. All of the three kinds of supermarkets are having good performance now days based on people’s daily demands. So our...

Words: 3433 - Pages: 14

Free Essay

Small Business Failure

...African Journal of Business Management Vol.6 (44), pp. 10994-11002, 7 November 2012 Available online at http://www.academicjournals.org/AJBM DOI: 10.5897/AJBM12.342 ISSN 1993-8233 ©2012 Academic Journals Full Length Research Paper Common causes of small businesses failure in the townships of West Rand district municipality in the Gauteng Province of South Africa Solly Matshonisa Seeletse Department of Statistics and Operations Research, University of Limpopo (Medunsa Campus), P.O. Box 107, Medunsa, 0207, Pretoria City, South Africa, solly. E-mail: seeletse@ul.ac.za. Tel: +27 12 521 4291. Accepted 17 October 2012 The study examined the high failure rate of the small business in the West Rand region of the Gauteng Province, South Africa. The purpose was to investigate reasons for lack of sustainability of the small businesses of this region. The study was qualitative, characterised by exploratory and descriptive modes. Fifteen small businesses were interviewed using an interview guide (at Appendix). The reasons for their failure showed that these businesses mostly lacked in business understanding. They showed shortfalls in business and management. Recommendations covered suggestions for these businesses to improve understanding and practice of the modern business mechanisms, to approach local business colleges for working relationships and training, as well as to involve management consultants to revive them to start generating the needed revenue and minimum profits...

Words: 6666 - Pages: 27

Premium Essay

Sscm

...International Journal of Physical Distribution & Logistics Management Consumer preferences for sustainability and their impact on supply chain management: The case of mobile phones Anu Bask Merja Halme Markku Kallio Markku Kuula Downloaded by Universiti Malaysia Sabah At 08:03 27 February 2016 (PT) Article information: To cite this document: Anu Bask Merja Halme Markku Kallio Markku Kuula, (2013),"Consumer preferences for sustainability and their impact on supply chain management", International Journal of Physical Distribution & Logistics Management, Vol. 43 Iss 5/6 pp. 380 - 406 Permanent link to this document: http://dx.doi.org/10.1108/IJPDLM-03-2012-0081 Downloaded on: 27 February 2016, At: 08:03 (PT) References: this document contains references to 88 other documents. To copy this document: permissions@emeraldinsight.com The fulltext of this document has been downloaded 2370 times since 2013* Users who downloaded this article also downloaded: Craig R. Carter, Dale S. Rogers, (2008),"A framework of sustainable supply chain management: moving toward new theory", International Journal of Physical Distribution & Logistics Management, Vol. 38 Iss 5 pp. 360-387 http://dx.doi.org/10.1108/09600030810882816 Craig R. Carter, P. Liane Easton, (2011),"Sustainable supply chain management: evolution and future directions", International Journal of Physical Distribution & Logistics Management, Vol. 41 Iss 1 pp. 46-62 http://dx.doi.org/10.1108/09600031111101420 ...

Words: 14889 - Pages: 60

Free Essay

Vietnam Catfish Anti Dumping

...Policy Research – Implications of Liberalization of Fish Trade for Developing Countries Trade Issues Background Paper: The Impact of Dumping on Trade in Fisheries Products Nigel Peacock Project PR 26109 July 2004 Support unit for International Fisheries & Aquatic Research SIFAR Food and Agriculture Organization (FAO) of the United Nations, Rome 1 THE IMPACT OF DUMPING ON TRADE IN FISHERIES PRODUCTS This report forms part of a wider study on “Policy Research – Implications of Liberalization of Fish Trade for Developing Countries”, comprising five trade issues background papers and five country case studies. The trade issues background papers are dealing with the following topics: • Sanitary and Phyto-Sanitary (SPS) Measures and Technical Barriers to Trade (TBT) • Ethical/Social/Eco Certification, Labelling and Guidelines • The Impact of Subsidies on Trade in Fisheries Products • The Impact of Dumping on Trade in Fisheries Products • Fiscal Reforms and Trade in Fisheries Products The case studies cover the following countries: • Bangladesh • Guinea • India • Uganda • Vietnam For a synthesis of the entire study including policy recommendations, see: Bostock, T., Greenhalgh, P. and Kleih, U. (2004), Policy Research – Implications of Liberalization of Fish Trade for Developing Countries – Synthesis Report. Chatham, UK: Natural Resources Institute. ISBN 0 85954 560-1. Copies of the various reports are available on the following websites: • www.onefish.org/id/225570...

Words: 6446 - Pages: 26

Premium Essay

Pm Report

...Market capitalisation, which stood at Rs 5,570 crores in 1996, has multiplied over 50 times to around Rs 2,90,000 crores. It gives me much pleasure to welcome you to the 102nd Annual General Meeting of your Company. I am sure you share my sense of satisfaction at yet another year of robust growth of your Company. This performance is even more heartening given the challenging circumstances in the global economy and the slowdown in India. It also bears testimony to the robustness of your Company's strategy of pursuing multiple drivers of growth. This portfolio of traditional and greenfield businesses has built a strong foundation to power the ITC of tomorrow and create enduring value for the Indian society. As in earlier years, I would like to first present to you the highlights of your Company’s Triple Bottom Line performance for the year gone by. ITC: Triple Bottom Line Performance Gross Revenue for the year grew by 19.9% to over Rs 41,800 crores. Net Revenue at over Rs 29,600 crores was primarily driven by a 26.4% growth in both the non-cigarette FMCG as well as the Agri business segments. Profit before tax increased by 20.1%, crossing the Rs 10,000 crore milestone, while Net Profit grew by 20.4% to over Rs 7,400 crores. The non-cigarette segment net revenue has grown 14-fold from about Rs 1,360 crores in 1996 to nearly Rs 19,500 crores in FY13. As a result, 58% of net segment revenue of your Company is now from businesses other than cigarettes. Apart from being the country's...

Words: 4926 - Pages: 20

Premium Essay

Transformation Process

...Economics, KU Leuven, Belgium d School of Management and Governance, University of Twente, Netherlands b c a r t i c l e i n f o Article history: Received 27 June 2011 Received in revised form 20 December 2012 Accepted 16 February 2013 Available online 7 March 2013 Keywords: Servitization Open service innovation Business model Performance a b s t r a c t As manufacturing businesses operate in an ever more competitive, global economy where products are easily commoditized, innovating by adding services to the core product offering has become a popular strategy. Contrary to the economic benefits expected, recent findings pinpoint implementation hurdles that lead to a potential performance decline, the so-called ‘servitization paradox’. In this paper, we analyze this paradox by disentangling the value creation and value appropriation processes of 44 national subsidiaries of a global manufacturing firm turned product-service provider, in the 2001–2007 period. Our findings show that the firm under study is able to successfully transcend the inherent substitution of products by services and to enact complementary sales dynamics between the two activities. Moreover, labor-intensive services such as maintenance, which imply higher levels of customer proximity, further enhance product sales. Empirical results also reveal a positive yet non-linear relationship between...

Words: 12026 - Pages: 49

Premium Essay

Countries

...Research in Global Strategic Management Emerald Book Chapter: MULTINATIONALS, ENVIRONMENT AND GLOBAL COMPETITIO A CONCEPTUAL FRAMEWORK Sarianna M Lundan Article information: To cite this document: Sarianna M Lundan, (2003),"MULTINATIONALS, ENVIRONMENT AND GLOBAL COMPETITION: A CONCEPTUAL FRAMEWORK", (ed.) Multinationals, Environment and Global Competition (Research in Global Strategic Management, Volume 9), Emerald Group Publishing Limited, pp. 1 - 22 Permanent link to this document: http://dx.doi.org/10.1016/S1064-4857(03)09001-6 Downloaded on: 10-07-2012 References: This document contains references to 35 other documents To copy this document: permissions@emeraldinsight.com This document has been downloaded 877 times since 2008. * Users who downloaded this Chapter also downloaded: * Michael W Hansen, (2003),"ENVIRONMENTAL ASPECTS OF DANISH FOREIGN DIRECT INVESTMENT IN DEVELOPING COUNTRI COUNTRY FACTORS IN SHAPING THE GLOBAL ENVIRONMENTAL PRACTICES OF DANISH MULTINATIONALS", Sarianna M. L Multinationals, Environment and Global Competition (Research in Global Strategic Management, Volume 9), Emerald Group Publishing Limited, pp. 65 - 94 http://dx.doi.org/10.1016/S1064-4857(03)09004-1 Ans Kolk, Rob van Tulder, (2003),"INTERNATIONALIZATION AND ENVIRONMENTAL REPORTING: THE GREEN FACE OF THE WO MULTINATIONALS", Sarianna M. Lundan, in (ed.) Multinationals, Environment and Global Competition (Research in Global Strategic Management, Volume 9), Emerald Group Publishing...

Words: 10391 - Pages: 42

Free Essay

Bamboo Furniture

...Cover page Course Title: Course Code: F-306 Submitted to: Tazrina Farah Lecturer Dept. of Finance University of Dhaka Submitted by: Masud Ahmed | | Kazi Umme Sumaiya | 16-022 | Khaleda Aziz | | Akhter-E-Tamanna | | Arjumand Naznin | 16-120 | Shahriar Azad Shashi | 16-142 | Sameya Azad | | Tasrifa Sultana | 16-154 | Mohammad Mominuzzaman Bhuiyan | | Mst. Shamsunnahar | 16-176 | Date of Submission: 21st Nov, 2012 Letter of Transmittal | 21st November, 2012 Tazrina Farah Lecturer Department of Finance University of Dhaka Dear Madam Here is a report on the “New business Idea”. In this report we have presented the whole Market and Demand analysis of our new business of bamboo furniture named ‘Oitijjho- the heritage of Bangladesh ’ . At University of Dhaka, we appreciate having this assignment. If you need any assistance in interpreting this report or if you have any query, please contact with us on the given mail address starz@yahoo.com Sincerely yours, KAzi Umme Sumaiya On behalf of the group 3rd Year 6th Semester B.B.A 16th Batch Department of Finance. Table of Contents | Sl no. | Contents | Page no. | 1. | Executive Summary | | 2. | Business Idea | | | 2.1 | Firm & Promoters | | | 2.2 | Why to behave entrepreneurially | | 3. | Industry & Competitive Analysis | | | 3.1 | Introduction to overall furniture industry of Bangladesh | | | 3.2 | Bamboo in general | | | 3.3 | Environmental...

Words: 10009 - Pages: 41

Free Essay

Nokia Strategic Analysis

...Research Report Submitted To Sir Khalid Jamil Ansari Prepared By Babar Saeed (BM-25208) Bashir Ali (BM-25178) TABLE OF CONTENTS Acknowledgement 02 Executive Summary 03 Company Introduction 04 Company History) 05 a) First Mobile Phone 06 b) GSM Introduction 06 c) Strategic Change 07 Vision, Mission, Organization Direction 07 Environmental Analysis (Internal) 09 Environmental Analysis (External) 12 a) Pestle Analysis 12 b) Porter five forces Analysis 14 SWOT Analysis 18 Market/Competitor Analysis 19 Strategic Analysis 23 a) Corporate Strategy 25 b) Business Strategy 25 c) Operational Strategy 25 d) Supply Chain Strategy 26 e) Defensive Strategy 26 f) Competitive Strategy 26 Nokia Marketing Strategies Analysis 27 a) Segmentation by Geographically 27 b) Segmentation by Demographically 28 c) Segmentation by Consumer / Business 28 Marketing Mix Strategies 29 a) Product b) Price c) Place d) Promotion Key Strategic Issues Face Nokia 30 Nokia Leading Mobile Series 31 a) N Series 31 b) E Series 32 c) X Series 33 d) Asha Series 33 e) Lumia Series 34 References 35 ACKNOWLEDGEMENT One of the great pleasures of writing the report is acknowledging the efforts of our teacher and friends whose hard work, cooperation, friendship and understanding were crucial to the preparation of this report. First of all, we would like to acknowledge the efforts of Sir Khalid Jamil Ansari whose sincerity, loyalty, hard working and...

Words: 7019 - Pages: 29

Premium Essay

Brands

...for organisations. Companies recognise that strong brands are and have been historically associated with accelerated revenue growth and improved returns to shareholders. That is why, each time more organisations focus their strategies on building powerful brands as they represent competitive advantage and they are a key success factor in creating value to the customer and at the same time value to the company. In this regard, this study intends to show how effective brand strategy and brand communication contribute to build brand equity and consequently create a strong brand. For this purpose, the case study of Navigator was chosen, being a good example to show how the brand has been managed to become a powerful brand in the premium office paper segment. Key words: Branding, Strong Brands, Brand Strategy, Brand Communication, Brand...

Words: 41006 - Pages: 165