Business cycles are a method of comparing current business cycles with historical cycles to see what has happened and why. It shows us how business units are linked in a particular market and how those units have been affected by external forces such as demand, supply, technology, and competition. If the business cycle can be visualized as a tail, it can also be used to reveal the internal mechanisms that drive it. This article focuses on the second section of the business cycle, business cycles worksheet answers.
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Business cycles worksheet answer can help managers learn how they should evaluate the overall health of their businesses, including their current market positions. A good business cycle worksheet will allow you to forecast how much profit can be generated during a specified period of time. You can also project what level of earnings would be sustainable for your company given the current state of the economy.
The key to a successful business cycle is identifying both the strengths and weaknesses of the business cycle. For example, a business cycle that is based on strong customer relations may turn into a nightmare if those relationships weaken due to economic pressures or other factors. Likewise, a business cycle based on strong technological innovation may also be at risk if the source of that innovation becomes less affordable. Identifying these weaknesses and vulnerabilities early on will allow managers to address these issues before they become problems.
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Business cycle chapters usually end with a summary of what has been discussed. However, this is often where many opportunities for future growth are hidden. To find out what these opportunities might be, we encourage you to go beyond the summary and dig into the case studies of each chapter. This will show you what kinds of products or services are likely to be profitable over the long term as well as what kinds of companies are currently poised to gain market share as the market continues to mature.
One example is the business strategies of General Electric (GE). In the past, GE had been a fairly traditional company focused on producing high-quality goods at high prices. However, as the company has grown in size and scope, it has found it necessary to focus more on emerging technologies and the changes they bring to the marketplace. In doing so, it has had to downsize some of its manufacturing facilities as it restructures its business. While this has resulted in some cost reductions and job loss, the resulting savings and lower fuel and maintenance expenses have made the company more competitive financially.
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If you look closely at the history of GE, you’ll see that its core business cycle has been driven primarily by the need to keep up with new developments in technology. To do this, it has had to build a wide range of technologies, some of which are now expensive enough to be outside of its own core competency group. These technologies, coupled with the lower costs that result from these changes, have led to GE being able to penetrate into niches even when it previously had less than good financial health. As a result, it has been able to weather the storm in the business cycle, staying far ahead of its competitors.
The same can be said for other large corporations that are undergoing significant mergers and acquisitions. By combining their capabilities, management has been able to realize substantial savings, especially through leverage. In fact, in many cases the financial results of these transactions have already demonstrated positive long-term benefits. This means that the company is well positioned for future profitability.
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Many smaller businesses also face challenges in meeting their business needs due to their smaller size and limited resources. As a result, they too have been looking for ways to increase their competitiveness. To meet this challenge, many companies have looked to international markets, either through mergers or acquisitions and the employment of foreign labor. While this strategy may have worked successfully for smaller companies, it may not be as effective for large ones. These concerns are best discussed in chapter eight of the Guide to Chapter 12, titled International Business.
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