| Business In The Economy | A’reAuna HawkinsProfessor Roy FuneBUS 100November 4, 2012 | |

Describes how business affects the economy |

A’reAuna Hawkins
Professor Roy Fune
Strayer University
BUS 100
November 4, 2012

Business in the Economy The role of business is the efficient creation of wealth, by taking resources and transforming them into products or services. First, there must be a market in which allows buyers and sellers to discover information about one another to complete voluntary exchanges of economic value such as a good, service, information or money exchange between two entities. Business is the management of individuals and resources to accomplish certain production goals, usually for the purpose of making a profit. The combination of these three parts of business with in the economy, the consumer will experience an increase standard of living. Without businesses people would have to depend on themselves. Therefore, this is why people create trade with each other instead of having to provide for ourselves for everything. There are many differences for-profit and non-profit have. For- profit organization is a business or organization whose primary goal is making money, as opposed to a non-profit organization whose focuses on helping the community and is concerned with money only when it necessary to keep the organization operating. Most companies are considered to be business for profit organizations. Examples are retail stores, restaurants, insurance companies. An example of a non-profit organization would be, St. Jude Children’s Hospital. The mission of St. Jude Children’s Hospital is to advance cures, and means of prevention for pediatric catastrophics disease through research and treatment. Consistent with the vision of their founder Danny Thomas, no child is denied treatment based on race, religion, or families ability to pay. This non- profit organization receive donations and raises money to pay all costs. An example of a for- profit organization would be Sprint PCS, which provides a person with a cell phone and service, an exchange for a cost the person will have to pay them. They key to a smooth running economy is having a fiscal and monetary policies. We need policies that can be changed over time to better serve our economy as a whole. The United States economy has its ups and downs. When an economy is down fiscal and monetary policies can be adjusted to fit what is best for the United States. Fiscal and monetary policies are tools that the Federal Reserve Bank and the government use to help keep the economy running smoothly. Fiscal policies are used by the government to influence the economy based on the reaction to current issues and predictions of where the economy is going. Using the fiscal and monetary policies the government can predict and help stabilize the economy in the United States of America. No one can see the future but the government can make educated predictions about the economy. As our society changes, our fiscal and monetary policies will also change with it. iPod is the mp3 player marketed by Apple Inc. iPod relies on its design and technology very heavily. Though almost all the internal components have come from other companies they have been put together with amazing firmware, looks and user interface compelling people to buy it not just for listing to music but to keep up with the fashion also. The iPod has become a wonderful product because of its amazing marketing. Apple has used a variety of distinctive advertising campaigns to promote its iPod music player. Examples are Ad Campaigns, and music ads. Apple also follows a Guerilla marketing policy, when it comes to signage, meaning huge banners, posters, and billboards. This kind of marketing rules, meaning that this product is seen at the right time in the right hand. Apple has relinquished some control in order to gain access or control of a market that could be orders of magnitude larger than their own one. Some major partnerships with Apple are, Hewlett Packard, the integration with automobiles such as Ford Motor Company, General Motors, and Mazda, the integration with Airlines, Air France, Delta, and Continental. Another form of marketing that Apple uses is word of mouth marketing, Word of mouth marking campaign hinge loyal customers spreading the word about the product in a favorable tone. Methodist Healthcare (MHC) responsibility to customers/patients is their value, honesty and communication. MHC is committed to provide outstanding care to each patient, begins with a diverse and talented leadership. The right to safe, MHC makes sure that when patients or patients family are under care they are safe, If someone is injured MHC takes full responsibility. MHC also gives the patient and staff the right to be informed. They provide patient education to everyone. If there are any questions about patient care, patient illness, and medications, there are people there to talk with you about those things. The right to choose, MHC states that a patient had the right to refuse any treatment but must sign a waiver stating patient didn’t want services. MCH also gives patients the right to be heard. MHC offers great customer service to patients, and patients are always welcomed to fill out surveys to give MCH feedback.

References
Apple Inc., Official website
Http://www.apple.com

Wikipedia- iPod Http://en.wikipedia.org/wiki/Ipod

“A Brief history or the iPod” Http://lowdenmac.com/orchard/05/1014.html

iPod Advertising
Http://boakes.org/apple-ipos-space-advert

Http://www.investorguide.com/igu-article-248-basic-economic-concepts-introduction

Http://www.investopedia.com/university/economics/economics1.asp#axzz2AQZISPDK

Http://www.economist.com/

Http://methodisthealthcare.org

Http://ezinearticles.com/?expert=Genna_Squadroni

Http://stjude.com