Question

1. Imagine you are a local businessperson who has to deal with the issue of outsourcing. You want to begin with the facts. How many, if any, jobs have been lost to outsourcing in your area? Are there any foreign firms in your area that are creating jobs (insourcing)? Consider using the Internet to help you find the data you need.

2. Look through your local phone book to find five businesses that provide services in your area in a domain of interest. List those businesses and, for each, describe how social trends might affect them in both positive and negative ways. Be prepared to explain your descriptions.

3. U.S. Supreme Court ruled that cities could have school voucher programs that give money directly to parents, who could then choose between competing schools, public or private. The idea was to create competition among schools. Like businesses, schools were expected to improve their services (how effectively they teach) to win students from competitors. The result would be improvement in all schools, private and public, to benefit many students.

a. Do you believe economic principles like competition apply in both private and public organizations? Defend your answer.

b. Are there other public functions that might benefit from more competition, including competition from private firms? What key things would lead you to exclude certain kinds of business?

4. Many people say that business people do not do enough for society. Some students choose to go into the public sector instead of business because they want to help others. However, business people say that they do more to help others than nonprofit groups do because they provide jobs for people rather than giving them charity. Furthermore, they believe businesses create all the wealth that nonprofit groups distribute.

a. Find the middle ground in this debate and show that both business people and those who work for nonprofit organizations contribute to society and both need to work together more closely to help people?

b. How could you use the concepts of Adam Smith to help illustrate your position?

Business fundamentals and my population is 35,000

Answer 1

Answer 1. In a hypothetical situation, I have consider that I'm a small player in the Information & technology industry which works into providinig IT solutions to various clients and deals with Internet of Things (IOT). As a small palyer in IT industry I have verious cleints which need some software support from me for their day to day activities, for this job I have outsourced few resources from a foriegn country who can help me provide services to my client and also quite econimical to me as I have outsourced my access of work and now earning the margin in between.

But than I have to see whether ant other MNC is also providing the same amount of job in my country, for this I have considered in the time of Globalization every MNC is present in each nations adn providing ample amount of employement opportunities to all the skilled people. And on the business ground I have taken a wise decision to go for outsourcing the empoyees.

Answer 2. The Five local business and their social media trends:

a. Florist shop: Florist shop fill with various flowers, very morning brings smile and freshness to people face. The Flower shop owner miantain a good relation with the clients throgh a very engaging social media presnce, where he describe and inform all the followers about any upcoming event and in addition to it also have some personal information of its regular customers and inform them in advacne of their all special dates. This gives the huge positive feedback from customers and this kind of engagement has given a good ranking to the Flower shop social media page on Google ranking.

b. Bakery: A local bakery shops which provides majority of baked items is not present that much on the social media and the owner mjorly believe in the in shop promotions and using posters and hoarding in front of the shop to attract more footfall during any offer. Instead of Social Media presence the bakery is listed on google, which make it easy for people who might be searching online the bakery shop, might get directed to the bakery as the SEO system of bakery is very optimize. But on the other hand the bakery owner dose not have any social media profile which regrain him to start any engagement with the consumer and will make it difficult to built a long term connection with the customers.

c. Home Food Delivery:Online food delivery is great business as in the locality many single people lives and they do not prefer to cook food at their home. This store has a great social media presence, where there is always a offer everyday on any dish at 50% off, Due to this the store get a huge volume of orders everyday. On the other hand this social media strategy make it very vulnerable also when the shop stop providing any such offers the sales volume will decrease drastically.

d. Shopping store: The nearby shopping store is not much into the social media presence as it do not want to capture the online market place and is not competiting with the big players. Its main aim is to provide the necessary supply to neighbourhood, where it will also give a home delivery option. In this as its not working on online platform but on the other hand being locally recognised it will deliver a order if any known customer will ask them to deliver something over a call also.

e. Local Cab service provider: Local cab service help people to travel to office and bring them back from office, its a service where it making people to pool the cab for the office travel. The cab service can be avail by its mobile application an its social media profile spread very good word among the customers for its reliable service but in the negative side it make it expose to negative feedback also where customers can wrote their bad exerience and which will harm the brand equity of the brand.