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Leona Parks
Marilyn Fitzpatrick
1/29/2012
Business 100 |

Leona Parks
Marilyn Fitzpatrick
Business 100
29 January 2012
The Role of Business in the Economy Millions of individuals who have started businesses in the United States have shaped the business world as we know it today. Some business founders like Henry Ford and Thomas Edison have even gained places in history. Others, including Bill Gates (Microsoft), Sam Walton (Wal-Mart), Michael Dell (Dell, Inc.), and Steve Jobs (Apple Computer), have changed the way business is done today. Aside from contributions to our general economic well-being, businesses also contribute to growth and vitality in specific areas of economic and socioeconomic development. Businesses do the following: Create jobs. Spark innovation. Provide opportunities for many people. They complement the economic activity of large organizations by providing them with components, services, and distribution of their products. The majority of Americans enter the business world by working for businesses. These enterprises are constantly creating jobs and providing opportunities. Over the years, the list of important innovations by businesses has included the airplane, air-conditioning, DNA fingerprinting, and oral contraceptives. Business owners are particularly adept at finding new ways of doing old things. In 1994, Jeff Bezos came up with novel idea of selling books over the Internet. During the first year of operations – Amazon.com – reached half a million dollars. Not only did his innovation approach to online retailing make Bezos rich, but it also established a viable model for the e-commerce industry. Business ownership allows individuals to achieve financial success, as well as pride in their accomplishments. Small firms complement large firms in a number of ways. They supply many of the components needed by big companies. A large firm, for example, might hire a small one to handle its billing or collection services or to manage its health care benefits. They also contribute to growth and vitality in several important areas of economic and socioeconomic development. Business drives up the standard of living, increases the quality of life. Providing the jobs people need. And responsible firms actively are advocating for the well-being of the society that feeds their success.
The Roles of For-profit and Non-profit Organizations in the Economy The roles for-profit and non-profit organizations are not the same. They operate under different pressures, have different purposes, different cultures and serve a different group of stakeholders. And they face different challenges as well as different rewards. The difference between for-profits and non-profit groups is simple: for-profits make money and non-profit organizations do not. However, this statement is misleading. Most non-profits also make money. They need to pay staff, rent offices, provide newsletters, pay phone and electric bills, etc. They need to cover their expenses. Non-profit organizations make more money than they spend. The difference between for-profits and non-profits is in how those profits are handled. While for-profit organizations are free (within the law) to keep the money they make, share it, reinvest it in the business, or generally spend it as they see fit, non-profit organizations may not distribute monies to members. Profits must be held and/or invested back into the organization. For-profit organizations are driven by the pursuit of money and non-profit to contribute something to society or the community. Many businesses are becoming more socially responsible, many non-profits are becoming more entrepreneurial. They both define different missions, but for-profit may see “being good” as a means to and end (i.e. being good for business), non-profit organizations as “being good” as the end in itself. Business ownership is clear, ownership of non-profit organization can be confusing. While people may set up a community group and even fund its operations they do not “own” the organization, as they cannot benefit financially from the group. Profits cannot be given to those who paid to set up the group, but must be held for use by the group. For-profit is a legal entity unto itself. It can be sued, enter into contracts, hire staff, receive donations, etc. Ownership of a non-profit organization invests in its stakeholders- the people or groups that have an interest in or may be affected by a particular decision or action. For-profit and non-profit organizations are viewed differently by the law. Taxation is one example of this. All non-profit fit into one of these groups, some into several and some may fit into all categories. Possible tax concessions include a tax-free threshold, income tax exemption, tax deductible gifts, and fringe benefit tax exemption. Many of the pressures and challenges experienced by Board members in the for-profit will be equally applicable in the non-profit group. They are both charged with overseeing the organization and ensuring its financial health, they are subject to the same high standards of conduct and both have a range of financial, legal and ethical duties to fulfill. There are some similarities in how for-profit and non-profit businesses are run. For example, most non-profit have to stiff competition – but rather than for a product, they are most often competing for funds, members, sponsors, media exposure, and supporters. However, there are some pressures that are more pronounced in the non-profit. At the basic level is the consideration of time and money. Because many members are volunteers trying to squeeze their service in among the demands placed on them by paid employment, social and family commitments. Because most are unpaid the time and temptation to put Board service to the bottom of the list may be more pronounced than those in the for-profit.
The Impact of Current Fiscal and Monetary Policy on the Economy Many recognize that the current financial crisis began when the collapse in housing prices led to a series of defaults in mortgage loans. We also recognized that a combination of excessive monetary expansion and irresponsible behavior from government agencies contributed to the bubble in housing. What is not recognized is how monetary and fiscal policies contributed to the current crisis. How monetary policy contributed to the financial crisis? The Federal Reserve overly expansive monetary policy had created the potential for higher inflation. They began to tighten policy through its standard procedure by raising interest rates. However, the Fed went too far in the opposite direction. Over time, an increase in spending over and above the ability of an economy to produce goods and services lead to inflation. This has slowed the spending and growth of money. In response to this slower growth in money, current dollar GDP also slowed. How fiscal policy contributed to the financial crisis? The Obama administration proposed a “fiscal stimulus”. The theory posits that by borrowing money from some people and giving it to others government can boost spending. The “fiscal stimulus” was a failure, but the basic premise survives. Some believe that the “stimulus” program wasn’t large enough. Not only is the concept of “fiscal stimulus” flawed, but pursuing such policies can have a toxic effect of the economy. Stock prices have registered their disapproval by moving lower.
Kraft Foods Corporate Social Responsibility The Corporate Social Responsibility construct describes the relationship between business and the larger society. As the world’s largest consumer packaged-goods company, with a workforce of 178,000 employees in 200 countries, we are well positioned to respond swiftly when disaster strikes. Kraft Foods provides non-perishable, nutritious foods, and corporate headquarters make direct cash contributions to relief agencies. The Carbon Disclosure Project commended us for our approach to climate change disclosure in 2010. Kraft Foods ranked 23rd in the 2011 Corporate Social Responsibility Index, based on a survey of consumers created by the Boston College Center for Corporate Citizenship and the Reputation Institute. We were listed as a Maplecroft Climate Innovation Index Leader in 2010 for our efforts to use less energy, reduce waste, and promote green work space. The Kraft Foods Philippines’ FRESH (Future Resilience & Stronger Households) project was awarded Best Poverty Alleviation program as part of the 9th Asian Corporate Social Responsibility (CSR) Awards. Top 50 companies for Diversity, “DiversityInc” magazine – 2010. Top Companies for Executive Women, NAFE – 2011 (fifth consecutive year).
Global Marketing Women’s Clothing Boutique – Boldacious 1 Boldacious 1 will carry Ready-to-Wear (RTW ) designer and casual/contemporary apparel and accessories for women. Boldacious 1 will feature other choice selections by American and European designers. Boldacious 1 customer is a busy professional who has an income over 100K. She enjoys the boutique fashions and wants a place where she can go to get services that meet her busy lifestyle. Boldacious 1 will generate awareness and sales by utilizing PR tactics and the referral networks of personal stylists. Additionally, will meet our customers where they are, focusing on how women approach shopping by obtaining mentions and reviews in the top publications, travel guides, internet, and local papers. The website will serve as a source of information for online visitors. Boldacious 1 plans to correspond its web site launch with the official launch of the boutique. Boldacious 1 will evaluate including e-commerce into its business model. The hotspot for film companies, the online strategy will focus on both celebrity endorsements and email marketing.

References
Holtz, Herman (1998). Proven Proposal Strategies to Win More Business. Strategic marketing Principles and, xv – xvii.
“The World Economy – Overview, April 2010, https://www.cia.gov/library/publications