Premium Essay

‘in the Current Economic Climate, What Are the Biggest Challenges and Biggest Opportunities Facing New Managers Entering Industry?’

In: Business and Management

Submitted By vikolin
Words 918
Pages 4
There is a simple saying” the challenges and opportunities are co-existed”. As a new manager, he shall find out what the major challenges and the most valuable opportunities in the chaos, to lead the company into an industry from the right road towards the right direction.

Since 2008, the finance crisis has made the whole world economy completely different. The rate of unemployment keeps quite high in most of developed countries, the price of real estate dropped to the historical low in America. Then the following Euro debt crisis again pushes the weak world economy into an unprecedented difficult situation. The fallout from the Greek debt crisis will definitely impact the still weak recovery in Europe, Said Hong Pingfan, the head of the global economic monitoring center of the UN Department of Economic and Social Affaire (DESA) And the a massive aid package and unclear American economy will keep leading to a weaker euro and weaker US dollar in the medium to longer term.

So the entire economic environment is not so optimistic, all different industries are being influenced more or less. Comparatively speaking, in fashion marketing, the power of purchasing is relatively reduced since Finance Crisis all over the world. According to the statistics, the Consumer Confidence Index (CCI) has been kept relatively stable in the low level since finance crisis, especially in European countries and America, mainly in the developed countries (Isabella 2010). At same time, it shows the consumers expect less for the future; they spend most of their money on the necessities, reducing the budget on the luxury products and expenditure on the entertainment.

As the above mentioned, as the income of whole family reduced rapidly in lots of developed countries, which influenced the behavior of purchasing luxury goods, or even stop buying it. But in China, it is completely…...

Similar Documents

Free Essay

Biggest Challenges Today Are to Control the Network Security

... Biggest challenges today are to control the network security. Network security is having protection of networks and their services from unauthorized access, destruction, or disclosure. Malicious acts bring up the important topic of disaster recovery. Companies must have up to date copies of their important documents and software to prevent extended downtime. The saved information will let the company's employees continue to work while the IT department deals the damaged media. Hacking Into a Website Some being able to hack into a person’s web site is never going to be justifiable. A hacker is someone who illegally gets a hold to personal and private information in a computer system. This person then tampers with the information and start to cause problems. AT&T was a victim of someone hacking into their computer system and stealing the email addresses that Ipad buyers use when they were updating their information or activating there devices. There was a group called Goats Securite that uses different hacking ideas to get into AT&T website.   A total of 110,000 email addresses where obtained during this illegal entry into the website. During this attack on AT&T new technology that was only out for a month, they quickly shut the product down and website to deal with the problem that occurred. The problem was handled very quickly, AT&T was notified on Monday that there system was hacked into and peoples information was taken and compromised, the very next day......

Words: 399 - Pages: 2

Free Essay

Biggest Takeover in Film Industry Ever

...The American theatre chain gets a much needed infusion of cash, while the Chinese conglomerate gets experience in film distribution and chain management. Dalian Wanda Group’s agreement to purchase AMC Entertainment for $2.6 billion creates the largest theater chain in the world and marks China’s biggest acquisition of a U.S. company, therefore it has some industry watchers wondering what the ramifications might be for the movie exhibition industry. One high-ranking executive said his initial reaction to the May 21 announcement was 100 percent positive, given that AMC’s private-equity owners – Bain Capital, Apollo Global Management, the Carlyle Group and others – had allowed the theater chain to fall into disrepair compared with its competitors. “Even the bulbs weren’t changed, so films looked dim,” he said. Indeed, Wanda president and chairman Wang Jianlin announced his intentions to invest $500 million in AMC. Observers see installation of bars and restaurants at some locations, as well as upgrades to screens and sound systems, and the improvements could be noticeable enough to encourage disenchanted moviegoers to the give theaters another try. “It’s been a long time since AMC was run by someone with deep pockets and a timeframe longer than the next quarter,” said the insider, who noted that Regal Entertainment Group, Cinemark Holdings and Carmike Cinemas would be inclined to match AMC’s upgrades. Wanda, a private company with real estate, department stores and......

Words: 1740 - Pages: 7

Free Essay

The Biggest Challenges Adults Face Today

...The Biggest Challenges Young Adults Face Today Dallas Johnson AC1306863 Principles of Public Speaking Assignment 6_06 10/06/2013                 Introduction Sincerely Young adults today face numerous problems. To me, unemployment and drug abuse pose the major challenge for young adults today. These problems, in many instances, have negative effects on individual’s lives and compromise their personal development as well as their relationships with other members of the society. More seriously, they can compromise the health of the individual and bring harm and regret. The increasing numbers of divorces, for example, is a testimony to the negative implications of these problems on the individual and the society. Clearly, therefore, there is an urgent need for intervention from all the concerned stakeholders to address this disturbing issue. Discussion Personally, one of the challenges that I perceive facing the young adults is the increasing frequency of drug and alcohol abuse among the young adults. From investigations and personal interviews, I have established that more and more young adults engage in this unbecoming behavior, and the rates are alarming. I have established that many of the young adults admit to taking drugs because of the frustrations and life uncertainties in the contemporary society. It is also disturbing that many of the young adults understand the consequences but pay little attention to the effect of this......

Words: 871 - Pages: 4

Premium Essay

Speech Outline for What Are the Biggest Challenges Adults Face Today

...What I see as the biggest challenges young adults face today A. General Purpose- The general purpose of this speech is to inform people on what I think are the biggest challenges that young adults face today. B. Specific Purpose-The specific purpose is to persuade young adults to make better choices to overcome their present (and future) challenges. C. Central idea- I think that young adults should consider their futures. I also believe that they should follow the past life examples of the generations before them and use them as a blueprint to their lives. Introduction One of the contributing challenges in a young adult’s life is the factor of employability that many face in this day and age. A. Key point #1 The lack of employability caused by criminal convictions. B. Key point #2 The lack of education. C. Key point #3 The absence of work ethics. II. Body of the Presentation A. Main Point #1-Young adults sometimes make lifestyle choices that are detrimental to their future. 1. Supporting material-Some young adults make choices to indulge in criminal activity. 2. Supporting material-A lot of young adults adopt the “Sink or swim” mindset because of a sense of urgency causing them to do so. B. Main Point #2-Many young adults believe in coasting through life without lack of responsibility, thus not achieving educational goals. 1. Supporting material-Many young adults still have their parents assisting them in this mode......

Words: 338 - Pages: 2

Premium Essay

Challenges Facing Service Delivery in Hotel Industry in Kenya

...CHAPTER ONE INTRODUCTION OF THE STUDY This chapter examines the background on the study, the statement of the research problem and the purpose of the study. The research objectives research questions, the significance of the study, and limitation of the scope of the study are also explained. 1.1 Background of study. Hotel industry is all forms of business relating to provision of accommodation in the lodging, food and drinks and various types of other services that are interconnected and form intended for the public services, both of which use the lodging facilities or who simply use the services or the production of certain services of the Hotel. As such Hotel mean commercial establishment providing lodging to travelers, tourist and sometimes to permanent residents and often having restaurants, meeting rooms, stores that are available to general public. Hotels are being classified into “star"(1-start-o5-star) even though there are no standard methods of assigning those rating and compliance with the customary requirement is voluntary. Hotel chain provides a uniform standard through out non-chain hotel(even within the same country)may not agree on the standard, although both World Health Organization (WHO) and International Standard Organization(ISO)have been trying to persuade Hotels to agree on some minimum requirement as world norm, the entire membership of Paris base International Hotel and Restaurant. Association opposes any such moves. According to (IH&RA) to...

Words: 13138 - Pages: 53

Free Essay

What I See as the Biggest Challenges Young Adults Face Today

...07/28/13 Assignment 06 Title:What I see as the biggest challenges young adults face today General Purpose-To inform that inherent problems and confronting the young adults in the contemporary society. Specific Purpose-To persuade my audience about what young adults face today. Central Idea-In this society, the youth continue to face many problems that makes their personal lives difficult. Introduction: Drugs and Alcohol Unemployment Stakeholders Intervention II.Body of Presentation: Drugs and Alcohol- This has weakened their health and contributed to development of other antisocial behavior. Easy access of the drug and ineffective legislation governing alcohol consumption has made the drugs easily to be available to consumers, which has aggravated the drug problem. Unemployment- Due to economic recession, several young adults have had to struggle with layoffs and it has increased the problem of unemployment. This has forced some of the young adults to engage in unorthodox practices such as prostitution and crime to satisy their financial needs. Stakeholders Intervention- The individual, family, government and stakeholders need to take roles in empowering the young adults and creating more possibilities, for example on self-employment. Social groups, religious bodies, health practitioners, and also law enforcement authorities must sensitize young adults to help in addressing the challenges. Conclusion-Young adults face a lot of......

Words: 261 - Pages: 2

Free Essay

Challenges Facing the Fashion Industry in Ghana

...which the fashion industry operates the world over has become turbulent, unpredictable and therefore, difficult to exert managerial control. Cultures around the world are constantly influencing each other; hence, the world’s cultures are changing fashion constantly. Also, social, economic, political and legal factors keep changing than before. Competition in the fashion industry is so rife such that the survival of fashion organizations cannot be guaranteed (Stuart, 1995). During the last decade, the developments of new technologies all over the world and growing globalization of countries economies have produced the fastest changes ever. The fashion industry in Ghana, especially, the clothing sub sector (which is the focus of this study) has not been without the effect of economic, political, social, cultural and legal pressures brought to bear on all organizations. In recent years, protectionism has given way to globalization. With that change, Ghanaian clothing sector of the fashion industry has had to compete with imports from low wage countries. Retailers, unencumbered by protectionism, have also seized on the opportunity, often choosing to go directly to offshore manufacturers. As retailers become larger and more globally connected, they continue to build global brands marketed around the world. In doing so, they eliminate many Ghanaian clothing companies from their supply chain. The result has been major market share declines and job losses in the industry. ......

Words: 6584 - Pages: 27

Free Essay

Challenges Facing the Music Industry

...Challenges facing the Music Industry As Albert Moran puts it, “film is an economic commodity as well as a cultural good” (Albert Moran, 1996) and therefore, the struggle to dominate the market for films and music has continued for such a long time. These cultural products because of the industrial processes they follow of production, distribution and consumption fall into the category of an industry and are immensely affected by the forces of the market. Distribution is the key factor in determining who would rule the industry as it forms the link between the production of the media goods and their exposure to the target audience. Over the years the cultural industry has evolved imbibing newer technologies and making space for newer companies to make their mark. This process of evolution has been intercepted with changes in its economic and sociological structure owing to the external economic, social and political factors and also technological advancements. Ownership of the media forces to a great extent amounts to a huge control over the global economy and also means greater political and cultural power. Hesmondhalgh, in his book, The Cultural Industries, points out that there has been an "interweaving of change and continuity" in the cultural industry since the 1970s (Hesmondhalgh, 2007). However, this hasn’t ever been a smooth process for the older and established companies who had to face challenges from the new market players. The music industry had to grow from......

Words: 2676 - Pages: 11

Premium Essay

Challenges Facing Banking Industry in Kenya

... ii ACKNOWLEDGEMENT I wish to thank the almighty God who has sustained me throughout this project I would also wish to thank my supervisor Mr. Geoffrey Kinyua for his valuable patience and assistance in accomplishing this project I would also wish to thank the technical staff of K.C B jogoo road branch for their help and cooperation iii ABSTRACT With reference to K.C.B this research is carried out to investigate the challenges facing the banking industry in Kenya. The specific objectives are; to investigate whether theft cases in banks are a major problem, to establish if ATM card skimming is a problem to the banking industry in Kenya, to determine if high interest rates are affecting the banking industry in Kenya negatively, to find out if mobile money transfer services are becoming a competition to banks in Kenya. The sample design was stratified random sampling so as to obtain data required within the organization. Data collection instrument that was used was the questionnaire since it was most convenient. IV TABLE OF CONTENTS page CHAPTER ONE 1:1 Background of the study……………………………………….1. 1:1:1 History of the......

Words: 4741 - Pages: 19

Premium Essay

The Music Industry: Facing New Challenges?

...management—but, as most impressions in order to give of us know, it's very unusual to find such agreement. meaning to their. Why is perception important in the study of OB? Simply because people's environment. behavior is based on their perception of what reality is, not on reality itself. The world as it is perceived is the world that is beiiavioraily important. FACTORS INFLUENCING PERCEPTION How do we explain that individuals may look at the same thing, yet perceive it differently? A number of factors operate to shape and sometimes distort perception. These factors can reside in the perceiver, in the object or target being perceived, or in the context of the situation in which the perception is made. THE PERCEIVER When an individual looks at a target and attempts to interpret what he or she sees, that interpretation is heavily influenced by personal characteristics of the individual perceiver. Have you ever bought a new car and then suddenly noticed a large number of cars like yours on the road? It's unlikely that the number of such cars suddenly expanded. Rather, your own purchase has influenced your perception so that you are now more likely to notice them. This is an example of how factors related to the perceiver influence what he or she perceives. Among the more relevant personal characteristics affecting perception are attitudes, motives, interests, past experiences, and expectations. Teri likes small classes because she enjoys asking a lot of questions of......

Words: 5222 - Pages: 21

Premium Essay

The World's Biggest Environmental Challenge

...I think that one of the biggest environmental challenges is that the earth’s population and growth cannot be sustained by our limited resources left on earth. We humans are getting to the point where we are consuming, harvesting and using more and more resources then we physically need for everyday living. For example, people are buying phones, iPods, tablets, laptops etc. and when they become out of date or out of fashion, they simply end up in the trash can or in a drawer never to be used again. There is no problem with getting a new phone, except when it is still in perfect working condition. Humans are just using up earth’s resources without actually considering the consequences. Up to date, 1/3 of the earth’s resources have been consumed. At this rate, our children’s children might not even have a world left to live in. I think that a suitable solution for the problem should simply be that humans must only be allowed to buy 99% necessary items for their everyday life. Why? Because did you know that 99% of all “stuff” is trashed. So that percentage seems suitable. So for example, you may only have one phone per person and may only get an upgrade every few set years and if lost, stolen or broken by simply not looking after it, then and only then may they get a new phone. I understand that this policy will be difficult to maintain, but the benefits could include relief or cease to problems like obesity, hoarding etc....

Words: 259 - Pages: 2

Free Essay

What I See as the Biggest Challenges That Young People Face Today?

...time adjusting or getting on their feet? Don’t you find it hard to ignore the many news articles and stories about the economy and how it’s so many people being affected by poverty, and the ever rising costs of education? Today, I would like to talk to you a little bit about how the changes in the economy, poverty levels, and costs of education are affecting young people from all walks of life. Young people are not just perplexed about what to wear, but many are more concerned with where they are going to live and how to make ends meet. Today’s economy has fluctuated so much in the past few years that poverty is at an all time high. Young adults that would otherwise live on their own are finding themselves to be stuck living with their parents or relatives either because they can’t make ends meet on their own or assistance is needed at home. Young people are forced to take on more responsibilities such as assisting in the care giving of family members. I read an article in Time magazine recently showing the U.S. Census Bureau’s findings; that young adults are not leaving home because they are not in a position to support themselves. I remember when I turned 18 years old in 2000, not only was I able to support myself pretty well, but I was also able to go to school at the same time; while there was a little struggle, I was able to maintain myself. Times have changed greatly since then. Mercury news and CNN Money both talk about the level of among young people. They are......

Words: 916 - Pages: 4

Premium Essay

Softbank of Japan Is Making Its Biggest Gamble Yet: Entering the American Cellphone Market

...SoftBank of Japan is making its biggest gamble yet: entering the American cellphone market. SoftBank’s complex $20.1 billion deal to buy majority control of Sprint Nextel will unite Japan’s fastest-growing cellphone service provider with one of the United States’ most troubled. The idea is to provide Sprint with a stronger, deeper-pocketed partner that can help finance its network overhaul and, eventually, pursue additional mergers. But SoftBank, an Internet and communications company, is making a risky wager that it can break the dominance of Verizon and AT&T in the United States the way it did a similar duopoly that long reigned over the Japanese market. “SoftBank brings so much more to Sprint than money,” Daniel R. Hesse, Sprint’s chief executive, said on an analyst call. “This investment provides the opportunity to benefit from the knowledge and expertise of a leader in mobile Internet technology with a proven track record of challenging larger incumbent carriers.” Together, the two companies would have $80 billion in revenue and $18 billion in earnings before interest and taxes. And they would nearly double Sprint’s customer base to 96 million, giving the company greater purchasing power. SoftBank’s founder and chief executive, Masayoshi Son, was blunt in his goal: creating the biggest and fastest wireless network in the United States. It is the strategy his own company is pursuing in Japan, aimed at drawing in users of the latest smartphones. Sprint is only......

Words: 905 - Pages: 4

Premium Essay

Challenges Facing the Finance Industry

...Challenges Facing the Finance Industry This paper will explore three problems facing the finance industry. Those problems include cybersecurity, compliance with regulation, and risk management. Three solutions will also be addressed later in this paper. 1 When one thinks about the finance industry, banks, credit agencies, insurance companies, and equity firms may come to mind. Over the years financial institutions have not been up to par. With the financial crisis that happened in 2008, the world is still recovering and paying high taxes for the amount of debt that it acquired. As a result of that crisis, the financial industry faces challenges that include cybersecurity, complying with regulation, and risk management. Although the industry faces these challenges, there are solutions that can make things operate smoother. One of the finance industries biggest challenge this year is cybersecurity. According to Hewitt, “The potential hacking of sensitive customer information is a top threat facing the financial industry in 2014.” Technology is vastly changing, and more people are beginning to use different softwares to handle the financial side of the business. With technology evolving, hackers are getting more experienced, and cyber-attacks are beginning to occur more frequently and more wide spread than they have been in the past. According to Rodriguez, “As the cost of technology decreases, the barriers to entry for cybercrime drop, making it......

Words: 2377 - Pages: 10

Premium Essay

What I See as the Biggest Challenges Young Adults Face Today?

...What I See As The Biggest Challenges Young Adults Face Today? There is several challenges young adults face in today’s society. As adults we all know how tuff it can be to leave home and be out on our own. You are solely responsible for yourself. Some will go to college and others will go straight into the workforce. No matter what choice we make, as young adults there will be challenges we will face due to choices we make. As a society and/or community we need to ask ourselves what can we do to prepare our children for life without someone taking care of them. Young adults are going to struggle with responsibilities. We need to teach them the difference between wants and needs. For example: Jane has an exam for school tomorrow morning but there is a party tonight. She may want to go to the party however the responsible thing is to stay in this time and study. She is going to need her degree to help her get a good paying job and going to the party is not going to be benefit anything but her social life. Understandably you need a social life but at the same time learning to determine when is the appropriate time to socialize is key. Another struggle young adults have is finances. For many the cost of school, credit cards, car and just living will lead to a major debt. I believe if we show them how to budget wisely it will help them stay out of a financial bind. Having a simple budget plan will help them see where their money needs to go and what they have left to do...

Words: 481 - Pages: 2