QUESTION 1

“Operating a Retail Business” Please respond to the following:

• Determine the fundamental aspects of automated retailing that make it beneficial for operating a retail business. Examine two (2) ways in which automated retailing is positive and two (2) ways it is negative for operations management.
• From the e-Activity, examine the trends and the future in technology discussed. Determine two (2) potential problems inherent in relying on technology to operate a retail store. Recommend two (2) approaches to preventing the potential problems that you have determined.

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QUESTION 1B

“Creating Your Own Merchandizing Philosophy” Please respond to the following:

• Imagine that you are starting your own business. Create your own merchandising philosophy. Describe your philosophy, and propose the manner in which you would use it to enhance your business.
• Imagine that your grandparents want to retire and have given their general store to you so that it stays in the family. Currently, they are operating the store as they had when it first opened: without merchandising software. Examine the pros and cons of merchandising software. Determine whether you are for or against incorporating merchandising software into your grandparents’ business. Support your position with one (1) example of either the successful use or apparent misuse of such software.

QUESTION 2

“Merchandise Plans, Inventory, and Logistics” Please respond to the following:

• From the e-Activity, propose two (2) actions that these retailers can take in order to determine the effectiveness of their merchandise plans. Speculate whether logistics do or do not enhance the inventory management systems of these companies. Suggest the main methods in which you would leverage logistics to enhance inventory management.
• From the second e-Activity, evaluate the usefulness of the different services that the institute offers to retail owners. Recommend two (2) ways that businesses may use the services available.

QUESTION 2B

“Unity of Effort Among Employees” Please respond to the following:

• Recommend two (2) top methods for forecasting merchandise needs and wants from customers and potential customers during key holiday seasons. Support your recommendations with examples of such forecasting methods.
• Imagine that you work at a large chain store and the financial inventory control is required to ensure that there is a monthly budget. Determine the appropriate retail methods of accounting that you would use in order to have a dollar control. Justify your response.

ECONOMICS DISCUSSION

PART 2 DISCUSSIONS

QUESTION 1

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NOTE: This is the resources to use to do this part. http://www.bls.gov/emp/ep_chart_001.htm

http://www.bls.gov/opub/ted/2013/ted_20131113.htm

http://www.bls.gov/cps/minwage2013.pdf

http://www.bls.gov/cps/minwage2010.htm

http://www.cbo.gov/sites/default/files/cbofiles/attachments/44995-MinimumWage.pdf

http://www.federalreserve.gov/newsevents/lectures/origins-and-mission.htm

http://www.federalreserve.gov/monetarypolicy/default.htm

“Unemployment” Please respond to the following:

• Examine the impact of the minimum wage on the national rate of unemployment. Provide at least one recommendation for change (big or small) that would mitigate the impact while still helping the working poor.
• Analyze the various policies to reduce unemployment and determine which would be the most effective at addressing the current unemployment situation in the U.S. Support your reasoning.

QUESTION 1B

“Inflation” Please respond to the following:

• What is the history of inflation in the US in the last 10 years, with particular emphasis on the on the great recession and the recovery?
• Review FED poilcy statements on inflation during the great recession and in the current recovery.

NOTE: eActivity

• Use the Internet to research current issues and / or challenges involving social security. Be prepared to discuss.

QUESTION 2

“Sustained Budget Deficits” Please respond to the following:

• Determine how your financial planning will be affected by sustained budget deficits. Provide at least two specific examples to support your response.
• Determine what types of information could help congress to avoid making fiscal imbalance worse as it changes the budget to meet changing circumstances.

QUESTION 2B

“Social Security” Please respond to the following:

• Analyze the leading issues in social security and determine which issue is the most significant. Support your reasoning.
• From the e-Activity, analyze the approaches to social security reform and make at least two recommendations for fixing the system (using approaches discussed in the text, a mixture of those approaches, or something entirely new).

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ScholarMatic: Explanation & Answer

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