Learn the key economic principles that lead to a healthy bottom line economy—good growth, low inflation, low unemployment, debt levels, and interest rates—and why these are important for a company's bottom line.
- The company you work for doesn't operate in a vacuum.…No matter how well the business operates,…it can still be impacted by economic winds…that are beyond its control.…So what are some of these big picture issues?…How can they affect a business?…And what does that mean for you, the employee?…Let's start by being optimistic…and assume that the overall economy is growing…and is in terrific shape.…More money is moving around…and this might mean higher sales numbers if your company…is doing a good job.…This increased revenue is the life blood of your company.…
It could help your company expand, open new offices,…or create new products and services.…So what does that mean for you?…When the economy booms and businesses expand,…they usually hire more people.…And when this happens on a large scale,…the overall unemployment rate drops.…This means that companies may need to raise their wages…and improve benefits in order to attract…and retain good employees.…So when you see a low unemployment rate,…maybe it's time to ask for a raise.…
- Explain how understanding your company’s finances will help you as an employee.
- Identify how you can help drive revenue if you do not work in sales.
- List the key things to look for when setting terms with suppliers.
- State why it is important to understand key accounting concepts and success measures.
- Explain what an income statement can tell you.