smith,cody,workshop5.3

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Indiana Wesleyan University, Marion *

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Economics

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Jan 9, 2024

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Company Question 1: What internal actions is the firm taking in response to changing currency rates? Question 2: What external actions is the firm taking in response to changing currency rates? Jasper Engines and Transmissions (My Company) With a weaker strong dollar, the company is increasing its purchasing department and shifting its vendors to more foreign companies to get the most value for the money. The business is advertising in the foreign market and expanding their advertising into Mexico and Canada. Overseas shipping is still a deterrent from the type of business they conduct. General Motors General Motors sees opportunity in the pandemic weakened economy. While the dollar is strong compared to other currencies (Mikolajczak, 2023), the foreign market is hurting so GM is focused on the domestic market. Foreign markets are hurt by the strong US dollar (Rosevear, 2015). The external actions GM is taking are focusing on the domestic market and advertising to the people they are going to be selling to. The higher interest rates are a concern but are battling inflation. Apple Apple has pledged to reduce spending and not invest into large projects as a measure to reduce spending as a result of the negative impact the strong dollar has had on their overseas market (Savitz, 2022). Apple is focusing on their overseas market and attempting to secure a supply of needed raw materials to combat the issues they are having with supply chain. The strong dollar makes Apple’s overseas endeavors difficult and since their manufacturing is done overseas, the purchasing power of the dollar has a negative impact on the business. Currency Planning References

Mikolajczak, C. (2023, October 2). Dollar climbs to near 150 vs yen after U.S. shutdown avoided . Reuters. https://www.reuters.com/markets/currencies/buoyant-dollar-pushes- fragile-yen-within-striking-distance-150-2023-10-02/ Rosevear, J. (2015, May 11). How a strong dollar affects auto stocks . The Motley Fool. https://www.fool.com/investing/general/2015/05/11/how-a-strong-dollar-affects- auto-stocks.aspx Savitz, E. J. (2022, July 19). Apple's outlook is at risk as dollar surges, Goldman says . barrons. https://www.barrons.com/articles/apple-stock-outlook-dollar-goldman- 51658249861

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