FINCB 571_Final Reflection

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University of Phoenix *

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FINCB/571

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Economics

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Jan 9, 2024

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docx

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1 University of Phoenix FINCB/571, Final Reflection

2 Question #1: Provide an example of an economic recession impacting the financial performance of an industry of your choosing. Is it possible for an industry to perform well during economic downturns? What components of a financial plan might differ depending on industry? The COVID-19 epidemic is a prime illustration of how an economic downturn affects the restaurant industry's financial performance. Many eateries were compelled to close their doors in states where individuals were forced to shut down. Restaurants also struggled to retain personnel for a number of reasons. I believe it is conceivable for an industry to perform effectively during an economic crisis; it appeared that chain restaurants stayed open and discovered efficiencies in producing meals and having it available for pickup, since the dining rooms were closed, and the worry was concentrated on how we would keep the virus from spreading in general. Individuals require food, and whether or not they have COVID, many people are still interested in it. Restaurants in my community that were family-owned decided to reduce their menus since there was a reduction in dine-in business; the reduced menu allowed the restaurant to thrive and cook food, but the restaurant was able to save costs on stocking the restaurant, as they were guaranteeing that only certain dishes would sell. As time ticked on and the COVID restrictions reduced, local restaurants went back to normal business and began offering their larger menu, however, they kept the take-out options and contact-less delivery. Organizations should be able to assess risk more effectively for a financial plan based on the relevance of how COVID-19 caused financial hardship to most enterprises, regardless of the market they belong to. How do you determine what to include when drafting a financial plan for your organization?

3 An organization must prepare financially for the short and long term; considerations must include the company's ability to pay bills with cash flow and its connection with short-term loans (Brealey et al., 2019). Long-term planning examines investments to accomplish goals and the appropriate debt-to-income ratio; then, after the company is in operation, leadership may review the financial plan to assess how effective they have been in reaching the set goals. (Brealey et al., 2019) . Based on experience, the organization will assess risk, such as what if another epidemic occurs, and what if we are forced to seal our doors once more? The risk assessment should allow for financial cushioning in the event of scenarios such as inflation or the need to temporarily close the firm. Companies must determine how they will pay leasing charges, staff wages, and basic utilities when there is no revenue coming through the doors. Question #2: What specific assignments or learning activities from this course did you find particularly beneficial? What do you feel could’ve improved or added to your learning experience in this course? As an Amazon client, it was exciting to learn more about the company's economics when developing the PowerPoint presentation for the first competence. Even though I was aware that they were generating billions, it was still exciting to analyze all the publicly available statistics. I found it interesting that Amazon has never paid stock dividends in the past. Although Amazon has perfected commerce, from the perspective of the customer, they have not mastered putting products in boxes, since many of the items I've gotten were damaged because they were carelessly thrown into the shipping box. I want to know more about the monetary losses caused by shipment damage. What do you feel could’ve improved or added to your learning experience in this course? I feel it would have been useful to see examples of company data, as requested for students to reflect on in Competency 1. At some points during the creation of my slide presentation, I wasn’t sure that I was going to provide the correct information, and there are several websites on the web that offer financial information on nearly every publicly traded company. Perhaps a YouTube presentation

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4 explaining things in detail would be helpful, as some of us learn better visually; overall I enjoyed this class. References Brealey, R. A., Myers, S. C., & Marcus, A. J. (2019). Fundamentals for Corporate Finance . Ingram.

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