Problem
Review the factors that affect businesses (found in Section 1-7d in the textbook) and watch the following youtube videos:
• "Introduction to Economics; Market Equilibrium and Market Forces" (5:55)
• "Macroeconomics: Crash Course Economics #5" (13:42)
In a journal, reflect on the following:
• Think about the company you currently work for or one you have worked for in the past. How do the economy, technology, global environment, market forces (supply, demand, competition, inflation, unemployment, government regulation, etc.), and competition affect the organization's ability to be successful?
• Why is it important to consider all the above factors in the economic environment when thinking about a strategy change?
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.