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The Economy - Learn How It Affects Your Business Bottomline

Clear discussion on how the economy can affect the profitability, sustainability and productivity of your business
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Created by Georgia McLeod
Last updated 1/2015
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  • 41 mins on-demand video
  • Full lifetime access
  • Access on mobile and TV
  • Certificate of Completion
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When you are in business, changes in the economy are bound to affect the way you operate. When the economy grows, or enters into a recession, either of these situations can affect your profits. Also, it would be good to know how high rates of inflation and unemployment can also impact your business operations. This course is designed to provide entrepreneurs and potential entrepreneurs with useful information on the various ways in which the economy affects businesses. Specifically, you will get a good understanding how economic growth, economic recession, inflation and unemployment can affect your business bottom line. These areas are very critical aspects of the study of economics and they affect businesses around the world every day. Additionally, given their relevance to business profitability, financial management and cost control, it is important to know how these areas can impact your business regardless of whether you live in a first world or a third world country. Hopefully you will come to appreciate that economics contains critical conceptual material necessary for an intelligent understanding of business life.
Who is the target audience?
  • This course is meant for business owners and potential entrpreneurs who would like to know how changes in the economy affect their operations. It is designed to be simple but packed with relevant informatIon which can help to manoeuvre some of the ptfalls which can result from economic recession, high inflation and high unemployment levels.
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What Will I Learn?
Know how economic growth can work to your business sucess
Get the knowledge about economic recessions so that you can plan better for them
Manage business expenses better when you learn how inflation can affect your borrowing costs, wage bill and acccess to funds
Protect their business bottomline when you see how unemployment can reduce sales
Recognize the barganinng power you have as a business owner when unemployment is on the increase
View Curriculum
  • No special materials/software are required other than your computer
Curriculum For This Course
Expand All 20 Lectures Collapse All 20 Lectures 40:37
Explore how a country's economic performance affects sales, profits and growth
4 Lectures 09:41
Economic growth explained

Examine the reasons why recession are a major concern for business operators
The effect of inflation on financial management, planning and production costs
4 Lectures 08:03
Defining inflation and discussing how it is measured

How inflation affects your business financial mangement and planning processes

Inflation can result in higher interest rates and reduced funds access

Do you export? This is how inflation will likely affect your competitiveness
Let us examne the pros and cons of unemloyment for your business operations
5 Lectures 11:08
Understanding the different types of umeployment and their causes

Your sales and profits are at risk because of falling demand due to unemployment

As an employer, this lecture shows how you can benefit when unemployment is high

Unemployment, employee morale and staff turnover

How unemployment affects the availability of skills to you as an employer
Conclusion to lecture
1 Lecture 01:08
Conclusion to lecture!
About the Instructor
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1 Student
1 Course
Economist, Entrepreneur, University Lecturer

Hi! I am a Georgia McLeod. I have multiple passions in life but foremost among those are my passion for economics, entrepreneurship, and interacting with people from various cultures and regions.

I have been a lecturer in Economics for at least 9 years where I teach various courses in banking, economic development, the Caribbean economy, public sector finance, and macroeconomics. I have experience in teaching at the top two universities in Jamaica (The University of the West Indies and the University of Technology).

I also love entrepreneurship and I am on the path of becoming a full time entrepreneur. In my home country, Jamaica, I have been a part of a number of entrepreneurship ventures, going back from helping my parents with their wedding business (which is operating now for at least 15 years!). I have am now entering the field of ecommerce. I think it is exciting and filled with many opportunities.

I have a passion for life. I love meeting me people and trying new things. I see failure as a necessary step towards success and it strengthens our mental muscles to keep going. I look forward to meeting you and I hope you find my courses very informative and useful. Thanks!

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