CHALLENGES OF CURRENT EXTERNAL ECONOMIC FACTORS

by | Mar 11, 2023 | Economics

 

 

 

 

 

You are the owner of a small pizza restaurant that has endured financial loss during the COVID- 19 pandemic, and the recent inflationary shift in the U.S. economy post-pandemic. Prior to March 2020, your business was averaging $30,000 in monthly revenue, with an average monthly profit of $10,000. During the height of the pandemic, your business declined by 60% – creating a tremendous challenge to meeting the financial demands of the business. By employing a little creativity, you began to provide carryout and delivery orders to your customers.
In the summer of 2021, your business started to rebound and slowly the company began generating 70% of the revenue earned pre-pandemic and returned to in-person dining. By the spring of 2022 the business began to see new challenges with reduced availability and increased cost of supplies necessary to run your business. Employees were hard to find – and even harder to keep – and, once again, sales started slowing down.
One of the ways to fully grasp the various economic conditions that are affecting your business is by reading the textbook and the links provided below. Please use the textbook as a start to your research. There are many more credible sources available online for your research in addition to the ones listed below.
Forbes Economic Forecast 2022 & Beyond Understanding America’s Labor Shortage Key Challenges Restaurant Will Face in 2022
Please utilize “credible” sources for each item in your paper and cite your sources (APA style). For more information about credible sources, you should review the MC Library link provided. https://libguides.montgomerycollege.edu/apa
Your paper will explore and describe the economic conditions and possible reasons for these conditions (e.g. COVID, employment, prices, supply and demand, etc.). Please address all 5 bullet points in your research.

Which business cycle(s) did your company experience between January 2020 thru July22?
What impact does the current employment situation have on your business and your industry (restaurant/hospitality)?
How has the current economy affected your pricing and customers?
• What is the current level of the U.S. consumer confidence?
• What are three things you can do to keep your business up and running through these
economic times?

 

Sample solution

Dante Alighieri played a critical role in the literature world through his poem Divine Comedy that was written in the 14th century. The poem contains Inferno, Purgatorio, and Paradiso. The Inferno is a description of the nine circles of torment that are found on the earth. It depicts the realms of the people that have gone against the spiritual values and who, instead, have chosen bestial appetite, violence, or fraud and malice. The nine circles of hell are limbo, lust, gluttony, greed and wrath. Others are heresy, violence, fraud, and treachery. The purpose of this paper is to examine the Dante’s Inferno in the perspective of its portrayal of God’s image and the justification of hell. 

In this epic poem, God is portrayed as a super being guilty of multiple weaknesses including being egotistic, unjust, and hypocritical. Dante, in this poem, depicts God as being more human than divine by challenging God’s omnipotence. Additionally, the manner in which Dante describes Hell is in full contradiction to the morals of God as written in the Bible. When god arranges Hell to flatter Himself, He commits egotism, a sin that is common among human beings (Cheney, 2016). The weakness is depicted in Limbo and on the Gate of Hell where, for instance, God sends those who do not worship Him to Hell. This implies that failure to worship Him is a sin.


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God is also depicted as lacking justice in His actions thus removing the godly image. The injustice is portrayed by the manner in which the sodomites and opportunists are treated. The opportunists are subjected to banner chasing in their lives after death followed by being stung by insects and maggots. They are known to having done neither good nor bad during their lifetimes and, therefore, justice could have demanded that they be granted a neutral punishment having lived a neutral life. The sodomites are also punished unfairly by God when Brunetto Lattini is condemned to hell despite being a good leader (Babor, T. F., McGovern, T., & Robaina, K. (2017). While he commited sodomy, God chooses to ignore all the other good deeds that Brunetto did.

Finally, God is also portrayed as being hypocritical in His actions, a sin that further diminishes His godliness and makes Him more human. A case in point is when God condemns the sin of egotism and goes ahead to commit it repeatedly. Proverbs 29:23 states that “arrogance will bring your downfall, but if you are humble, you will be respected.” When Slattery condemns Dante’s human state as being weak, doubtful, and limited, he is proving God’s hypocrisy because He is also human (Verdicchio, 2015). The actions of God in Hell as portrayed by Dante are inconsistent with the Biblical literature. Both Dante and God are prone to making mistakes, something common among human beings thus making God more human.

To wrap it up, Dante portrays God is more human since He commits the same sins that humans commit: egotism, hypocrisy, and injustice. Hell is justified as being a destination for victims of the mistakes committed by God. The Hell is presented as being a totally different place as compared to what is written about it in the Bible. As a result, reading through the text gives an image of God who is prone to the very mistakes common to humans thus ripping Him off His lofty status of divine and, instead, making Him a mere human. Whether or not Dante did it intentionally is subject to debate but one thing is clear in the poem: the misconstrued notion of God is revealed to future generations.

 

References

Babor, T. F., McGovern, T., & Robaina, K. (2017). Dante’s inferno: Seven deadly sins in scientific publishing and how to avoid them. Addiction Science: A Guide for the Perplexed, 267.

Cheney, L. D. G. (2016). Illustrations for Dante’s Inferno: A Comparative Study of Sandro Botticelli, Giovanni Stradano, and Federico Zuccaro. Cultural and Religious Studies, 4(8), 487.

Verdicchio, M. (2015). Irony and Desire in Dante’s” Inferno” 27. Italica, 285-297.

Sample Solution

My small pizza business experienced both a contraction phase (from March 2020 to Summer 2021) and an expansion phase (Summer 2021 to Spring 2022) of the economic cycle between January 2020 and July 22. The contraction phase was largely caused by the COVID-19 pandemic, which lead to a significant decline in revenue due to reduced customer demand. This was further compounded by the resulting inflationary shift in the U.S economy post-pandemic as prices for essential goods and services rose significantly alongside unemployment rates.

Sample Solution

My small pizza business experienced both a contraction phase (from March 2020 to Summer 2021) and an expansion phase (Summer 2021 to Spring 2022) of the economic cycle between January 2020 and July 22. The contraction phase was largely caused by the COVID-19 pandemic, which lead to a significant decline in revenue due to reduced customer demand. This was further compounded by the resulting inflationary shift in the U.S economy post-pandemic as prices for essential goods and services rose significantly alongside unemployment rates.

The current employment situation has had a huge impact on my business due to labor shortages that have made it difficult to hire enough employees, leading to increased costs and decreased efficiency within my restaurant. On top of this, the current economy has led customers away from dining out with their families or friends – opting instead for takeout or delivery orders – thus negatively affecting my sales revenue since people are less likely to purchase items at full price when ordering outside of the restaurant.

Right now, consumer confidence is at its highest level since before the pandemic began in February 2020 according to Forbes Economic Forecast – indicating that people’s attitudes towards spending money have been bolstered as more jobs become available again across numerous industries including hospitality/restaurant businesses; creating even more opportunities for those who haven’t already been able reclaim their financial footing back quite yet still..

In order keep my business up and running through these economic times I need employ three key strategies: firstly I should focus on increasing customer engagement either through social media outreach or email campaigns; secondly invest into creative marketing initiatives such as online discounts & loyalty rewards programs ; lastly develop cost saving tactics like using automated ordering systems & efficient inventory tracking software etc . Ultimately if successful these tips will help me generate much needed profit margins without drastically affecting our bottom line all while providing great service along with quality products consistently!

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