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Purpose of Assignment

The purpose of this assignment is the creation of a research  analysis. Every day, consumers make millions of decisions that impact  the marketplace and influence firms’ decisions. Firms use economic  concepts, models, and other “tools” of economics to help determine  pricing, output, and profit maximization. As an MBA student of  economics, you can apply the “tools” of economics to microeconomic and  macroeconomic data to create recommendations for how firms can maximize  revenue, profit and market share.

Assignment Steps 

Resources: Tutorial help on Excel® and Word functions can be found on the Microsoft® Office website. There are also additional tutorials via the web offering support for Office products. 

Scenario: Imagine you are a  business consultant to a firm of your choice. You have been asked to  analyze, advise, and create recommendations on how the firm can ensure  its future success in its current market. 

Work with your instructor  to choose a firm that matches the following criteria: a publicly-traded  company operating in the U.S. market. Note: A publicly-traded company is a private-sector firm owned by its shareholders/stock holders. 

Prepare a minimum  1,050-word analysis of economic data and business data to explain how  the core economic principles impact the sustainability of the firm and  what actions the firm can take to ensure success. 

Address the following: Identify the market structure your chosen firm operates in, analyze  your chosen firm’s current market share, and identify the firm’s  local/global competitors. Analyze the barriers to entry in this market  to illustrate the potential for new competition and its impact on your  firm’s future in the market. Hints: Be sure you review the barriers to entry discussed in the course text.  You might consider presenting the data graphically. Identify and explain trends in current macroeconomic indicators for last three years including: Current stage of the business cycle. Real gross domestic product (GDP). Inflation as measured by the consumer price index (CPI). Unemployment rate. Federal funds rate. Current rate for borrowing funds such as the so-called “prime rate.”  Note:  A requirement of the Week 1 Influence of Economics on Household  Decision Making report was to gather data on the CPI, GDP, and interest  rates, so you should consider reviewing the feedback you received on the  Week 1 report. Evaluate trends in demand over last three years and explain their  impact on the industry and the firm. Include quarterly (last two  quarters) and annual sales (last three years) figures for the product  your firm sells. Create business strategies by analyzing information and  data related to the demand for and supply of your firm’s product(s) to  support your recommendation for the firm’s actions. Remember to include a  graphical representation of the data and information used in your  analysis. Examine available, current data and information, such as pricing and  the availability of substitutes, and explain how you could determine  the price elasticity of demand for your firm’s product. Assess how the  price elasticity of demand impacts the firm’s pricing decisions and  revenue growth. Apply the concepts of variable and fixed costs to your firm for  informing its output decisions. For instance, analyze how different  kinds of costs (labor, research and development, raw materials) affect  the firm’s level of output. Based on the data gathered and analysis performed for this report write a conclusion in which you: Create business strategies, including price and non-price  strategies, based on your market structure to ensure the market share  and potential market expansions and explore global opportunities for  your business in a dynamic business environment and provide  recommendations. Develop a recommendation for how the firm can manage its future  production by synthesizing the macroeconomic and microeconomic data  presented. Propose how the firm’s position within the market and among its competitors will allow it to take your recommended action. Recommend strategies for the firm to sustain its success going  forward by evaluating the findings from demand trends, price elasticity,  current stage of the business cycle, and government policies. 

Cite a minimum of three peer-reviewed references and a minimum of two government economic data sources/references. 

Format your assignment consistent with APA guidelines.