Economics

• Feasibility Study is a tool used in putting up a business.
• Programs that will help the residents in its area of operation.
• SOAR Analysis is a tool that combines people's ideas, dreams and interests to fuel an energizing vision to work.
• Strengths in business are assets, resources, capabilities and challenges.
• Opportunities in business are success, profit, discoveries, breakthroughs.
• Aspirations in business are what to achieve in the future or goal.
• Results in business are success indicators and best outcomes.
• SWOT Analysis is essential to leverage strengths, minimize threats and to take advantage of available opportunities.
• Identifying strengths from an internal perspective can generate more assets such as employees, financial resources, business location, competitiveness.
• Identifying weaknesses from an internal perspective could challenge the achievements of business success such as staff absenteeism, lack of intellectual property, declining market shares.
• Identifying opportunities from an external perspective can contribute to business success such as new technology, training programs, partnerships.
• Identifying threats from an external perspective could harm the whole business organization such as rising unemployment, increasing competition, higher interest rates, global markets and certainty.
• TOWS Matrix is a way of taking a swot analysis further, to provide actionable links between the different parts of your business and environment.
• Porter’s Five Forces goal allows the organization to study the market’s movement while identifying its standing among competitors.
• Forecasting in business is employing business prediction that could contribute to future success.
• Benchmarking in business is a process to measure performance against competitors.
• Economic growth and development of a country can also have an impact on the social status of its citizens.
• Genetics is the study of genes and inheritance in living organisms.
• Social status and income predispose an individual to better health.
• Feasibility Study is a systematic analysis of all the factors that influence the probability of success of specific undertaking.
• Social support network, including family, friends, and the community, is a crucial aspect of health.
• NBER (national bureau of economic research) is a reputable source for recession data.
• Feasibility Study is an analysis made to determine the viability of an idea.
• Chapter 3 of the feasibility study deals with the organization as a whole, including organizational structure, job analysis, job description, job specification.
• Chapter 2 of the feasibility study is known as The Marketing Aspect and includes macro and micro environmental analysis, macro external environment (geography, customs, traditions and belief of the locality), micro internal environment (management, human resources and financial capability of the firm.), SWOT.
• Education is directly linked to health.
• Chapter 5 of the feasibility study deals with the Financial Aspect and includes Statement of Comprehensive Income (SCI) also known as the accrual basis of determining the income, Statement of Financial Position (SFP) “Balance Sheet” divided into three (3) parts Assets, Liabilities and Owner’s Equity, Statement of Cash Flows (SCF) which shows the movement of cash along the three (3) different activity – Operating Activity, Investing Activity and Financing Activity.
• Chapter 6 of the feasibility study deals with the Socio-Economic Aspect and includes employment opportunities, Corporate Social Responsibility, wherein the company may sponsor some trainings and adopt.
• Chapter 4 of the feasibility study is known as the Technical Aspect and includes identification of the main product, its components, the description of the product and the packaging.
• Educated consumers have different taste for products and are more conscious about the product.
• Recession is a macroeconomic term that refers to a significant decline in general economic activity in a designated region.
• Rise in unemployment is a common impact of recession.
• Companies might drop prices to stay afloat during recession.
• Chapter 1 of the feasibility study covers the introduction, statement of the problem, scope and delimitation of the study, definition of terms and the review of related literature.
• Change in consumers' purchasing decisions due to recession is a common impact.
• Education level influences the type of occupation a person can get and ultimately their income level.
• Physical environment factors such as safe homes, workplaces that are healthy, clean air, and updated infrastructure are important determinants of good health in a society.
• Poor individuals often have low confidence and stress.