Economic opportunities and threats

Assignment

Economic opportunities and threats are often the barometer of an organization’s continued competitiveadvantage. The ability to “predict“ changes in the stock exchange or the value of the dollar, anticipateinterest and inflation rate changes, and understand why consumer index factors change (home sales, average wage growth, exports, unemployment rates) all directly impact a company’s strategies.

In this assignment, include a link to a news article about something economic (such as inflation ratechanges, home sales growth/declines, average wage growth, exports, imports or unemployment rates) affecting the hospitality industry and your analysis of what impact the specific force will have on thehospitality industry within the upcoming year.

Answer preview

Economic indicators can be very contradicting sometimes as the news we get today is not with those we got yesterday. Nevertheless, the economy is the influence on the business performance. Shifts and the movements of the economic parameters often affect the consumer purchasing power as well as spending patterns. The success of any form of a business is affected by the ability of its management to utilize the economic opportunities maximally and at the same time trying to overcome economic threats which tend to hamper with business success (Minoo & Claudia, 2008). Economic threats should not make the business collapse, but it should instead strength it.  It will do so in the following ways…