ID: 2017000000102

Name: Mohammad Mahbubur Rahman Akond.

Answer to the question No. 1:

Understanding Economics and How It Affects Businesses

Businesses make up a significant portion of a country’s

economy. They help people live the lives they want to live and
encourage productivity that leads to huge profits and growing
revenues. The economy of a country is literary a backbone to its
existence. The economy of a country helps determine overall
health and growth of a nation. It shows how well people can
spend, save and grow their resources overtime. It also shows
effects of supply and demand; what products and services are
in demand contributing to growth and stability of the country in
question.

Economic growth in modern times is a crucial element part of

global development. Even small businesses can impact how
people abroad spend their hard earned money. Businesses
thrive when they are able to provide a product people want.
People create their living situations based on resources
available and what they can afford. Businesses offer a number
of elements highly important to a country’s economy such as
employment, productivity and a form of financial security.
Think of it this way; when a business is doing well they are likely
contributing to a country’s economy that makes it beneficial for
everyone involved.

There can be negative impact when a business underperforms

or does not meet expectations of its market. This is when the
economy can be affected. When people lose their jobs they
may not be able to buy what they want. The economy would
not see the same activity as it did when it was stronger. People
may not decide to make bigger purchases like a house or
vehicle. They may not want to travel or take vacations. So, an
underperforming business may not hire more people, give
raises to their employees, or offer better benefits to their
marketplace.
When multiple businesses take a hit it’s like sending a ripple
affect across the country. When jobs are lost or when stocks
tumble, it may be a sign things are changing. Most countries
depend on productivity from different businesses across
various sectors and industries. Some provide higher profits that
make a country known for that specific product.

Economies are built on strong businesses with profitable ideas,

products and services. Businesses must operate within the
frame work of the law. Businesses make it possible to
encourage people of a country to do better for themselves.
They make significant contributions that help economies grow
for generations to come.
Answer to the question No. 3:

Answer of discussion questions:

1. It is important for the ALSA management team to
understand the importance of social media because ALS
does not receive much federal funding, raising money to
sponsor research into finding a cure is critical. The Ice
Bucket Challenge in 2014 demonstrated he power of social
media in drawing attention to ASL. In just over a month,
the ALSA raised $11 million, a significant increase over $23
million that was raised throughout the entire previous
year. Given the success of the Ice Bucket Challenge, social
media has proven to be strong alternative to more
traditional approaches to fundraising.

2. I do not think that ALSA can rely on Ice Bucket Challenge

for any big amount of money in future funding. As the
trend will get older with time and people will not take the
challenge in big number. Sure that the Ice Bucket
challenge can get ALSA some money in future as the trend
will stay even if it gets older. But the money will not be a
big amount.
3. I do not think that the Ice Bucket Challenge would have
had the same success if the management at ALSA initiated
instead of Chris Kennedy as the organization did not have
the same number of audience or publicity as a professional
golf player.

4. The ALSA can learn from this experience that they should
never neglect social media when it comes to publicity as it
is one of the biggest thing for fundraising. They should try
to get more famous people to do other creative things and
advertise on social media to raise funds.