This website uses cookies to ensure you have the best experience. Learn more

Identify Internal Factors And External Factors That Influence National Production Fluctuations.

2072 words - 9 pages

Economic growth defined as increasing the capacity of an economy. It used to produce goods and service which compared from one period of time to another. Also, it measures the change of real national output in short period. Whereas, long term growth shown to increase the potential Gross Domestic Product (GDP). Thus, economic growth plays an important role in the entire nation. This is to see whether the country is well developed or vice versa. On the other hand, economic growth creates high tax revenues to cut down government’s expenses. Therefore, it will reduce government borrowing and debt to GDP ratios. Indirectly, high increase make better standard of living. Besides that, more selection of goods and services are there for consumers. Again, more investment will be available cause of good economy growth. Last but not least, a good economic in a country improving public services. For example, government spends more on education and development areas. This is to ensure that good infrastructures are there.
Thus, there are four factors that influence economic growth, namely natural resources, human capital, entrepreneurship and capital goods. Firstly, natural resources mean the gifts of nature. It is something that can be found in or on the earth. Examples of natural resources are agriculture, minerals and oil. Countries that full of natural resources produce cheaper goods and services as compare of importing natural resources from other countries. Next, human capital is also one of the factors that promote economic growth. Human capital means talents, skills, abilities and education that human workers possess. Nowadays, government used human capital of their citizens to support them. For examples, government provides free training and education programs. From there, it enhances workers to be more productive as compared to those unskilled labors. Besides that, the contributions to technological advances increase. It is because of their well-trained workers. It leads to produce more goods and natural resources. Next, entrepreneurship plays an important role of affecting economic growth. For instance, entrepreneurship creates jobs opportunity. In addition, entrepreneurship creates innovations too. As try to enter the markets with new products. In short, the higher the GDP, the more entrepreneurs have in the particular country. Last but not least, capital goods also influence economic growth. Capital goods are goods that used in the production of other goods and services. Factories, tools, machinery, and houses buildings are the examples of capital goods. In

addition, economists classify newly produces capital goods; invest by building modern factories, buying new machines and having lower GDP than a country that devoted all resources to produce consumer goods. In conclusion, economic growth increases real GDP as well as the value of national expenditure and output.

2.0 CONCEPT OF NATIONAL PRODUCTION
National production...

Find Another Essay On identify internal factors and external factors that influence national production fluctuations.

internal and external factors Essay

1100 words - 4 pages PAGE \* MERGEFORMAT 1 PAGE 5 Internal and External FactorsSamuel Rivera-RuizMGT/230October 13, 2014Terry SheltonInternal and External Factors PaperEvery organization can obtain benefit from keeping a structured management. Managers are those who are in charge of, or administrating, a specific task or group. This means that the manager is responsible for the results of that group. Out of the many responsibilities of managers, four basic

Apple Internal and External Factors Essay

1696 words - 7 pages External and Internal Factors of Apple, Inc.External and Internal Factors of Apple, Inc.A successful company requires a firm foundation. Businesses or corporations need to have a strategy in place to help management in the event there is a problem; they have a solution already planned out. They know how to handle any issues that may arise within the company. Apple Corporation, Inc. is a wonderful example of a company that is built on a firm

External/Internal Factors

1414 words - 6 pages External/Internal FactorsWal-Mart is an organization that has been extremely successful in achieving its goals of becoming top retail store in the world. Managers for this organization must plan, organize, lead, and control each component of this organization in order to secure its success. There are factors, internal and external, that can impact these four functions within an organization. Management's responsibility is to take these factors

Napster Internal External Factors

1840 words - 7 pages , employees are advised to seek help from their own manager, another manager, or a specific department like Human Resources, Legal, ROXI Security or the Office of Ethics and Business Compliance. Technology The software behind Napster can be viewed as an external and internal influence of the management at Napster. The external influence is the record companies wanting to know that their products are protected when the Napster software is used. The internal

External/Internal Factors Paper

1632 words - 7 pages Avaya telephony products. These factors such as rapid change, technology, and innovation are in part responsible for how TRCA management must delegate in planning, organizing, leading and controlling the organization in order to continue to prosper.A company can be negatively affected when internal changes take place, especially if the rapid change leaves employees floundering with fresh objectives. TRCA recently appointed the owner's brother to the

Internal and External Factors: Disney Corporation

2019 words - 8 pages of the dynamics from classroom sessions, application exercises, field experiences, and conversations with Disney leaders allows and individual a chance to see firsthand the principles that are at the core of their organizational strengths.The four functions of management are affected by internal and external factors in an organization. Having the responsibility of knowing the resources available to do each specific job affects the planning

External and Internal factors at Sony Ericsson

1611 words - 6 pages Sony EricssonIn 2001 telecommunications leader Ericsson and the Sony Corporation joined forces to establish Sony Ericsson Mobile Communications. Because of this joint venture, Sony Ericsson recognized sales of over seven billion dollars in the first year. This was mainly because the combined mobile phone business company now offered a range of mobile communication products that went far beyond the simple mobile phone technology of its

HSM260 WEEK2 Internal External Factors

674 words - 3 pages Internal and External Factors 1Internal and External Factors 3Internal and External FactorsTerrence LeanStudent at University of PhoenixInternal and External FactorsManagers help the process of working with people and resources to accomplish goals of your employer/organization. There are four functions of management: planning, organizing, leading, and controlling. All four of these functions must be used to ensure that everything operates at a

External/Internal Factors of the Red Cross

1535 words - 6 pages disease in a certain demographic is one way to measure its success. Monitoring, gives the Red Cross more information enabling them to devise new ways to control the outbreak. We have visited external factors, changed a way to measure success, and to measure internal factors. Internal Factors that affect Management are factors in the culture of the organization. A strong culture is good, as it encourages the right kind of behavior. A strong culture is

Identify between four and seven factors that affect contemporary projects

2398 words - 10 pages Project 2 Project 2Identify between four and seven factors that affect contemporary projects.2105 wordsExecutive SummaryThis paper discusses the meaning of Project Management as discussed by Meredith and Mantle of our Management text book. "Projects are large-scale, typically expensive, one of a kind endeavor that may require months or years to complete and involve major portions of an organization's resources." Project manager is a manager

Factors that influence Social Change

1088 words - 5 pages societal and individual demands of the 21st century, colleges and universities recognized during the fall of 20th century their missions as well as practices required reinvigoration and mandated “curriculum revisions” (Clayton-Pedersen & O'Neill; Johnson, n.d.). The core societal change that has impacted higher education is a structural change, which is a convergence of two main forces: the information and management revolution. The information

Similar Essays

External And Internal Factors Essay

1047 words - 4 pages then list the assumptions that will impact the implementation of the plan. The environmental assessment develops understanding of external and internal processes that influence the organizations success rate. The purpose of the environmental assessment is to identify and analyze the key trends, forces, and phenomena having a potential impact on the formulation and implementation of strategies. In effect, the environmental assessment attempts to

Internal And External Factors Essay

1148 words - 5 pages the goals and activities that an individual, work unit, or the organization itself will pursue. Internal factors that can effect planning would be when the company goes through a merger, acquisition, or when it removes and hires a new CEO, that has a “new idea” on the direction the organization should pursue. When internal and external factors affect the second function of management, organizing, it will also have similar effects as it does on

External And Internal Factors Essay

1036 words - 4 pages its products and services around the world.We will explain how external and internal factors like globalization, technology, innovation, diversity, and ethics at national and international level will impact the way GE managers apply the four functions of management. In addition we will talk about how delegation helps GE managers to minimize and manage these factors.GlobalizationGE is a company that is well establish in the world. The company is a

Internal And External Factors Essay

1186 words - 5 pages have an effect on AAM called the external environment. The external environment would be all relevant forces outside a firm's boundaries, such as competitors, customers, the government, and the economy (Bateman, Snell, 2004, p. 42). According to Peter Drucker one of the great "business gurus", the essence of a business is outside itself (n.d. P. Drucker).The internal factors that influence any organization are those of the organizations strengths