Business Recommendations Based on Economic Projections

RUNNING HEAD Milestone 1: Business Recommendations

Business Recommendations Based on Economic Projections

Issac Oduro, Jane Kaczay, Samantha Harmon, Sarah Jones,

Shelley George, Susan Waters and Tracy Fry

June 7, 2010

University of Phoenix

Economics

ECO/561

Kathleen Byrne

Business Recommendations Based on Economic Projections

Larson, Inc. is a monopolistic competitive organization that sells batteries for anything from high-tech computers to toys for children. To make positive business decisions based on potential changes over the next five years, recommendations should be based on economic projections. Oftentimes forecasting, predicting, and the use of data charts are used to protect business trends and ensure that the business is moving in the desired direction. One of many benefits of doing this is that businesses can determine productivity based on current trends found through these economic projections. In addition, as businesses continue to grow, they tend to branch out internationally. As transactions become international, businesses need to make sure they are aware of and consistently following global regulations, laws, and international business clauses. Typically, when one area of the world is negatively affected, global trade is also affected. Companies such as Larson, Inc. can use price strategy recommendations, entry recommendations for non-price barriers and ideas for product differentiation in order to effectively transition from national to global transactions and continue to grow internationally.

Price Strategy Recommendations

Pricing strategy recommendations for Larson, Inc. can be completed through marketing, pricing, and trade. If Larson Inc. added a new product to the battery supply line they would give consumers another reason to buy more goods and services. This will increase their overall market share within the industry. Over the next five years, Larson, Inc. will try to accomplish this by expanding...