The Economic Environment

The Job Outlook in Today’s Service Economy Where Education Counts

 Service providers are expected to generate 14.5 million jobs between 2008 and 2018. A solid educational foundation and networking skills are especially important in tough economic times.

Coping with Business Cycles

• Up-and-down movement of an economy’s ability to generate wealth
• Predictive structure but variable timing

Cycle-Sensitive Decisions

• Timing is everything
• Stay ahead of the pack

Benefiting from Economic Forecasts

• Use a consensus approach

Business Cycles Affect Managerial Decisions

 

 

 

 

 

 

 

The Challenge of a Global Economy

A Single Global Marketplace: Global trade is causing a shift to a single economy. The size of the global economy has expanded dramatically.

Globalization is personal: a growing trend working for a foreign-owned company. Meeting world standards for quality and costs (through lower wages) is necessary to be globally competitive.