During our first class I presented a list of 18 domestic and global factors that impact an economy and companies/organizations within the economy. Select any three factors from this list and explain how they have impacted your company/organization and what, if any, strategic decisions have been made to address these three factors. Focus on strategic decisions such as
You can consider either NACCO Industries or New York Life Insurance Company
18 factors:
1. monetary policy
2. Fiscal policy
3. psychology of consumers and producers'
4. Availability of critical resources
5. Research and development (Innovation)
6. Domestic and global economic polices
7. inflation/Recession
8. Currency exchange rates and trade policies
9. Emerging economic and political strength of other nations.
10 Advances in technology
11. War/peace
12. Degree of Regulation.
13. Politics and special interests
14. Population growth
15. Distribution of the population
16. Luck or misfortune
17.cyber security
18. Unions.
Product development and positioning in the market
Corporate expansion or downsizing
Marketing and sales strategies
Cost reductions
Outsourcing
Demand and pricing decisions
Any other strategic aspect