Essays on General Motors Economic Concepts Case Study

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The paper "General Motors Economic Concepts" is a good example of a macro & microeconomics case study. Business objectives are specific targets that organizations normally use in achieving their goals. The business might employ a mission statement in setting out principles that need to be followed. The plan handles logistics on how the set objectives will be achieved. According to Pride and Hughes (2009), economics normally assume that a number of various buyers and sellers exist in the market place. This implies that the market normally has competition that permits price to change relative to supply and demand changes. Case study: General Motors The advantages, limitations, opportunities and risks are quite dynamic in General Motors and they can be integrated into each other.

For instance, what might be a risk in a particular category for general motors, can change into a prospect or become a new tactic for general motors in the future. One of the main advantages that general motors have is international awareness and presence it has in today’ s market. Currently, General Motors have manufacturing firms in thirty-two nations and its vehicles are sold in one hundred and ninety-two nations (Rittenberg, 2008). General motors Basic business objectives As their basic objective, General Motors normally aims at being socially useful.

It usually participates in specific activities that perform operations that are socially and economically useful. The main aim of General motors is to produce vehicles that are friendly to the environment and that can assist individuals to improve their social and economical lives. It is quite clear that businesses cannot exist minus consumers’ approval. If activities of the firm seem to be against the consumers’ will, it can be wiped out by political, legal action or consumers’ own negative reactions.

Therefore, by setting this objective, the organization normally satisfies the requirements of its customers (Pride & Hughes 2009). General motors aim at becoming the most innovative organization. It is normally developed in a way that business activities associated with it, are performed and the necessary strategies implemented.

Bibliography

Pride M. W., &Hughes J. R., 2009, Business, Cengage Learning: New York.

Boyes W., & Melvin M., 2007, Microeconomics, Cengage Learning: New York.

Hitt A. M., & Hoskisson E.R., 2009, Strategic management: competitiveness and globalization: concepts & cases, Cengage Learning: New York.

Rittenberg L., 2008, Principles of Microeconomics, Flat World Knowledge: New York.

Baumol J.W., & Blinder S.A., 2009, Economics: Principles and Policy, Cengage Learning: New York.

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