Answered: Identify a product you believe would be…

Understanding Business

12th Edition

ISBN:9781259929434

Author:William Nickels

Publisher:William Nickels

Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment

Section: Chapter Questions

Problem 1CE

See similar textbooks

Related questions

Question

The Covid-19 pandemic has had a devastating impact on local and international business as well as on local trade in South Africa. The closure of borders, non-essential services and hospitality and tourism industries has had a crippling effect on economic growth. As a commerce graduate, you have now found yourself without any employment opportunities and have decided to partner with a friend and create your own source of employment given the extenuating circumstances that South Africa finds itself in. Click the link above the red arrow to open the Discussion tool. Using the Internet and/or any other resources, conduct research on various viable product offerings in South Africa. In a new thread, answer the following questions: Identify a product you believe would be financial sustainable and briefly justify its viability in the current South African market. Once you have identified your product, now answer the following questions: Which time horizons will you forecast? Why? Which forecasting technique will you use? Why? Which forecasting method will you use? Why? Will you manually compute the forecast or use online software? Justify your answer.

Definition Definition Increase in the amount of goods and services produced by a country in a given period of time compared to an earlier period. Economic growth is generally coupled with a rise in national income or the purchasing power of individuals. It is often measured in terms of the increase in a country's gross domestic product (GDP), or the overall monetary value of all the complete or final services and goods that a country can produce within its domestic boundaries in a specific period.

Expert Solution