28 Dec What should be done
JWI515 Managerial Economics
Week 1 Discussion
Introduction, Country Choice, and Product/Service Selection
The purpose of this discussion is to introduce yourself and make selections for Assignment 1. As explained in the instructions for Assignment 1 (link below), you will choose a target country from the list provided, as well as a product or service to analyze.
Read through the Assignment 1 instructions and then respond to the following three prompts:
Tell us a bit about yourself. State the name of your organization and describe the sector in which it does business
State the target international country you have chosen from the list in Assignment 1, and explain why this country interests you
Briefly describe the product or service provided by your organization (or an organization that is of interest) that you will analyze in this course
JWI515 Managerial Economics
Week 2 Discussion
GUIDES Worksheet Analysis
In preparation for Assignment 2, respond to the prompts below, using any of the G, U, or I indicators:
Discuss two indicators that help explain your chosen target country’s economic health
Discuss two indicators that can help you make a more informed recommendation for your chosen company
Make sure to restate your target country and your company as part of your initial post.
JWI515 Managerial Economics
Week 3 Discussion
GUIDES Worksheet Analysis
In preparation for Assignment 2, respond to the prompts below:
What stage of the Business Cycle is both your home and target country in?
What stage of the Business Cycle is your industry in, and your company in?
How can you use this data to understand your company’s prospects in your target country?
What innovations, if any, are present to help your company grow its business?
Make sure to restate your target country and your company as part of your initial post.
JWI515 Managerial Economics
Week 4 Discussion
GUIDES Worksheet Analysis
In preparation for Assignment 2, respond to the prompts below, using any of the D, E, or S indicators:
Discuss two indicators that help explain your chosen target country’s economic health
Discuss two indicators that can help you make a more informed recommendation for your chosen company
Make sure to restate your target country and your company as part of your initial post.
JWI515 Managerial Economics
Week 5 Discussion
Utility and Supply & Demand
Using the product or service that you have selected for your assignments, address each of the following prompts:
Describe the product or service in terms of its nature using the terminology and concepts learned this week. For example, is it an inferior, normal, or luxury product or service? What are its substitutes, if any? What are its complements, if any?
Describe this product/service in terms of the utility it provides to buyers and/or its users. Name one strong utility feature and one weak utility feature. Explain why you think your customers keep coming back to you and not your competitors.
Describe one factor that has shifted Demand (p. 24 in Microeconomics Made Simple) OR one factor that has shifted Supply (p. 34 in Microeconomics Made Simple) of this product/service within the last year.
JWI515 Managerial Economics
Week 6 Discussion
Product Analysis
Using a core product or service at your company, address each of the following points:
Assess your product/service in terms of price elasticity of demand. Is it elastic or inelastic (support your decision with rationale)?
Consider the product/service from its emotional perspective, using the prompts below:
What emotion does this product/service elicit from its buyers or users (if different)?
What recommendations do you have for evaluating and improving its emotional impact?
Consider the product/service from the Last Mile perspective, using the prompts below:
What does the customer experience look like?
What recommendations do you have for evaluating and improving this experience?
JWI515 Managerial Economics
Week 7 Discussion
Pricing Practices
Review the section on Price Discrimination in the Required Resources menu link.
Using a core product or service at your company, address each of the following points:
Describe at least one (1) new 2nd Degree Price Discrimination tactic that is not currently in use by the company.
What is the current price and what is your proposed new price?
Why do you believe this approach is better than other 2nd Degree options?
Describe at least one (1) new 3rd Degree Price Discrimination tactic that is not currently in use by the company.
What is the current price and what is your proposed new price?
Who is your target market and what demographic(s) are you seeking?
Is this product or service impacted by government influences, such as price ceilings, price floors, grants, tax credits, taxes, or subsidies? If so, how do they affect your pricing? If not, share how one or more of these might become an influence in the future?
JWI515 Managerial Economics
Week 8 Discussion
Market Forces Impacting Your Company
Review the section on Porter’s Five Forces in the Required Resources menu link.
As a reminder, Porter’s Five Forces are: (1) Rivalry Among Existing Competitors, (2) Threat of Substitutes, (3) Threat of New Entrants, (4) Bargaining Power of Buyers, and (5) Bargaining Power of Suppliers.
Using the company and industry you have chosen for your assignments:
From the Five Forces listed above, select one strong force and one weak force
For the strong force you selected, give one example of how you can apply your understanding of its strength to help you make better decisions for your company
For the weak force you selected, give one example of how you can apply your understanding of its weakness to help you make better decisions for your company
NOTE: You can base the examples on prior decisions and discuss how you are now better prepared when similar opportunities/situations arise again in the future.
JWI515 Managerial Economics
Week 9 Discussion
Managing Risk
Review the section on Types of Business Risk in the Required Resources menu link.
Use the prompts below to help you think about how to manage the risks you may face, as you take your company to the next level:
Share two types of risks that you are likely to encounter as your company expands
As a leader responsible for a successful outcome, what can you do to minimize the impacts of these risks?
How could the ability to assess risk and and mitigate its impact help you in your current job and/or your future career?
JWI515 Managerial Economics
Week 10 Discussion
Productivity Status and Initiatives
Reflect on your current or former company in regard to its productivity levels and initiatives; then address each of the following points:
Has productivity increased, decreased, or remained stagnant at your company?
What would you do to sustain or improve productivity, in light of the company’s factors of production?
Have you observed or participated in any initiatives to turn around a struggling business unit or division?
If Yes:
What worked well in the initiative?
What should be done differently the next time around?
If No:
What could you do to improve your own or your team’s productivity at work?
What area would you focus on first, and why?
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