Tutor profile: Liyu L.
How do consumers make decisions?
1. The effort consumers put into problem-solving and making decisions varies. So, there’s a continuum: HPS - LPS – EPS 2. Our decisions likely to be extended when we’re highly involved 3. Our decisions likely to be almost automatic or habitual when we’re low involved
Unconventional monetary policies in the US and the Euro area: how successful?
In the wake of the financial crisis, Central banks had been forced to review their implementation framework. In the process, people began to be the focus on unconventional monetary policies. It would be hard to deny that these policies had helped to stabilize conditions and cushion the fall in aggregate demand (Chen, Filardo, He, Zhu, 2015). At the same time, balance sheet policies also raised a lot of challenges for central banks. For example, they were under pressure to coordinate with public sector debt management operations when they purchased government debt. What’s more, they took on more financial risks when their balance sheets expanded. These costs show that unconventional monetary policies should be seen as special tools for special circumstances. These policies need governance arrangements that are designed to limit the risk (Borio, C., Disyatat, P, 2010).
Growing small businesses need to adopt professional styles of management, while at the same time continuing to adapt to meet the challenges of changing business environments. Drawing on theories and examples from the course, critically discuss this statement.
I agree with the statement of this topic. That is, growing small businesses need to adopt professional styles of management and also adapt to meet the challenges of changing business environments at the same time. Compared to the larger organization, growing small businesses have a limited amount of resources. Therefore, growing small businesses should use the Entrepreneurial Network to adapt as quickly as possible to the changing demands of that environment and devise suitable strategies for alleviating the consequences of any threatening changes. Based on Johannisson, the Entrepreneurial Network consist of three networks, including professional network, business network and personal network. By networking, growing small businesses can not only share information and test market ideas but also gain free intangible resources of knowledge. In addition, it is very important for small businesses to learn from their successes and failures. In other words, small businesses should learn from mistakes and accept negative feedback from the market. Whether the entrepreneur can overcome the problems with the network and the experiences during growth or not depends on the personality, motives, ability, and skills of the owner-manager (Breslin, 2016). If growing small businesses can obtain these abilities above, it will be easier for businesses to achieve the balance between the professional styles of management and the ability to meet the challenges of changing business environments at the same time.
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