I love the concepts of economics, but do not know what careers are available once I graduate.

Thanks much.

Over the past decade, a powerful private sector funding trend has emerged.  Forward-thinking and successful chambers across the country have increasingly moved from an annual membership model to a multi-year investor-based approach when it comes to funding their economic development programs.  In doing so, these leading organizations have dramatically increased funding levels, developed more engaged volunteer leadership, begun generating greater long-term benefits for their communities and, in general, become more focused, measurable and accountable.

The membership model typically charges annual dues at specified levels and is certainly appropriate for funding general membership services.  Its implication is that the business will have joined an organization, will receive services in exchange for the dues and will be supporting a worthwhile mission.  That’s perfect for typical chamber activities.  But for major special initiatives like long-term economic development programs, a campaign to secure long-term investors makes more sense.  Funding levels through membership dues are naturally limited.  Companies do not generally want to pay the kind of big money necessary for successful economic development when it is couched as dues for belonging to an organization.

A membership model of funding not only limits initial funding levels, but can constrain an organization’s ability to significantly increase funding in the future.  Increasing funding this way can only be done in small increments.  Most members will balk at paying a dues invoice that doubles or triples their current rate.  However, many businesses have enthusiastically increased their funding commitments tenfold or more through an investor-based funding campaign. 

An investor-based model of funding is clearly more effective.  Organizations taking this approach first develop a long-term, comprehensive program of work.  They identify specific, measurable goals and then determine the projected economic impact of attaining those goals.  As part of a well-planned, well-organized and professionally implemented funding campaign, the organization secures large multi-year investments in the program.  The businesses in turn are able to hold the organization accountable for long-term goals and to reap the benefits of a tangible return-on-investment (ROI).

This approach resonates with business leaders.  It produces a mentality conducive to much more substantial funding.  Business leaders become more engaged, taking ownership of the program as invested stakeholders.  The program becomes more focused and better funded, ultimately resulting in greater community impact.

The transition from a membership model to an investor model requires much more than merely changing labels.  It is a major undertaking that sets the organization and the community on a bold new path to success and prosperity.  If done right, the results can be stunning.

I have seen many times just how dramatic this transition can be.  As one example, an economic development campaign in Florida attained unprecedented results by adopting the investment campaign model under my direction.

The organization previously had been asking companies to pay annual dues specially designated for economic development ranging from a few hundred dollars to $12,500.  I worked with the organization to develop a four-year strategic plan with a specified budget and measurable goals.  We secured sufficient four-year funding to implement the program by making customized investment proposals to major businesses in the region and projecting individualized ROI.  Previously, the most anyone had paid over a four-year period to the economic development fund was $50,000 ($12,500 annual dues over four years).  With this new model, we ended up with several dozen pledges between $100,000 and $500,000.  Moreover, we substantially broadened the economic development program’s base of support and ultimately secured about $18 million in total four-year public and private sector funding.

Experience in many similar instances, with organizations and communities of all sizes, indicates that businesses across the country are willing to provide substantial funding for multi-year community initiatives that are well-defined, bold, strategic, focused, relevant and measurable.  Businesses find this kind of investment much more compelling than merely providing financial sustenance to yet another needy organization.  Once an organization is able to position program investment as a good business decision, we find that it can tap into the much vaster resources of corporate business development and marketing budgets, as opposed to the more limited membership and contributions budgets that every community organization and cause has their eye on—and which is already funding regular chamber membership.

While launching or transitioning to an investor-based model of funding consistently yields impressive results, it can often seem to be a daunting task. That’s why most chambers that have done so successfully have relied on firms such as Sage Fundraising Solutions to manage the process.  Organizations with vision and ambition recognize that by enlisting help to launch a bold new funding initiative they can greatly increase their budgets, expand their programs, address new challenges and opportunities, fill unmet needs, and ultimately create far greater prosperity for their communities.

If you need unique and captivating content that will wow whoever is reading it, using one of the best writing services available for your economics paper is the only way to do it. Your economics paper will be 100 per cent original and only written by qualified writers and professionals. So, when you are looking for someone to write your economics paper or other subjects’ paper, don’t bother searching around for second rate writing services. Use only writing services that customers rave about. Often, you can read reviews on writer forums, blogs, and other social community networks online. These customers are happy for good reason, so you can expect consistent levels of services from reputable writing agencies.

If you are still not convinced about using the writing service available, you can view samples of economics papers, business papers and so many others. You can see for yourself the quality is not only outstanding, but written to the level of requirement. Sources are found on the Internet and within traditional libraries, and all content is always 100 per cent original. The economics paper will be written by a team that have expertise in that area and by native English speakers and writers.

Perhaps you need a computer technologies paper for college. If so, you can view a huge array of great samples on the service provider’s website before placing your order. You can view different types of writing and format, and choose the one that is most appropriate for your needs.

Finding the right writing services for your economics paper or your communication and media paper doesn’t have to be a struggle anymore. When you choose the right writing service provider, you can be assured that you have the best people working on your essay, research paper or your report. Custom made essays are the only ones you should be ordering, this way you know you are getting 100 per cent unique essays and reports. The last thing you want is to hand in an essay that has been used elsewhere. With the special software that professional writing services use, you can be certain you will get only unique content.

With a huge amount of qualified writers on hand to take on your essay, research paper or report you will get a quick response and a quick turnaround time. Whether you have 3 hours or 6 days, your paper will be delivered in a very timely manner.

Hire expert writers for your next economics paper and you will be grateful you did. Your grades will also thank you as an extra bonus! Never go second rate where writing services are involved, choose only the best!

The U.S. economy may have finally slipped into a recession and all sectors of the economy are rightfully concerned. Credit markets are freezing and citizens are losing their homes. The Dow Jones Industrial Average dropped under 10,000, for the first time since October 2004, a number that represents a large psychological blow to the American psyche. Despite extraordinary government intervention, the nation is gripped in fear that any effort to try to reverse the unraveling of once-solid companies may not be enough.

Don’t think that the economic crunch is the problem of the U.S. alone. The fear of a worldwide recession is growing each day. Ireland has fallen into recession as the country’s economy dropped by 0.5% in the second quarter. Analysts are saying that Germany and Spain could be next. Iceland, once a nation that gave its citizens one of the world’s highest per capital incomes, is on the brink of becoming the first “national bankruptcy” of the global financial meltdown. The Nikkei has plummeted more than 9 percent and other Asian and Pacific markets suffered heavy losses. All over the world, stocks and bonds are falling-and there is no end yet in sight.

Why Is This Happening?

Experts believe that if one would study the trends during the past half century, a sharp downturn in U.S. housing always translates into a recession. Unfortunately for the whole world, U.S. housing prices plummeted by a record 15.4% in quarter two compared to last year (and as this is being written, falling faster).

Even more troubling is the theory that was developed after a long-term examination of U.S. history. In “The Fourth Turning: An American Prophecy”, authors William Strauss and Neil Howe explains their theory that the U.S. is entering an extended period of collapse or crisis. Using data gathered by examining historical cycles, the authors are convinced that an era called a “Fourth Turning” will start occurring in 2005 and may possibly last until the late 2020s.

How This Affects VARs

In a financial crisis of this magnitude, every sector is affected. Whether you like it or not, the pains of Wall Street will hit the I.T. Market and affect your company. Tighter credit, rising energy costs, and a morbid fear of the current economic situation will result in lower revenues and profit for VARs across the U.S.Furthermore, as reported by CNN, VARs won’t be insulated from the economic downturn through the “old recession proof strategy” of serving a diversity of sectors. Even business activity for the service sector–which encompasses retail, transportation, health care, and construction–has plummeted.

According to Forrester Research, nearly 50% of U.S. companies have cut back on IT spending and nearly all have frozen discretionary spending. As a result of this economic storm, tougher competition will emerge as VARs will find themselves scavenging in a marketplace with fewer sales opportunities. This market will be even more price sensitive and this will result in even lower margins.This will not be a question of maintaining revenue. For a lot of VARs, this will be a question of survival. Historical indicators are not pointing to a short period of financial instability. Rather, it is becoming more apparent day by day that the economic downturn may last years. Some of the corporations that have fallen like Lehman Brothers, Washington Mutual, Bear Stearns, AIG Inc., Iceland’s Landsbanki, and Germany’s Hypo Real Estate are giants with sterling reputations. No corporation is safe. Adjustments need to be made.

Five Approaches to VAR Survival in the Current Economy

Unfortunately for resellers, raising prices to protect margins isn’t the wisest thing to do-although it may be the easiest. With competition at its fiercest and with customers with shallow pockets, VARS need to come up with more creative ways to survive in such a gloomy, economic environment.As reported in publications like Channel Insider, CRN, and CNN, listed are five ways a VAR can cope with the current conditions:

1. Concentrate on Recession-Proof Products. Simply put, there are products that IT customers can’t live without. Some technology products will remain in high demand and will give VARs continuous profit no matter how hard economic conditions may be. It may be a good idea for channels to refocus effort on these so-called recession-proof products in order to survive in a tough market.

The following are some examples of high-demand tech products: Commerce Applications, Network Infrastructure, Application Development, Enterprise Application, Storage Solutions, Business Intelligence Software, Managed Services, Software as a Service (SaaS) and Mobility Solutions.

2. Reduce Expenses.Although this may seem basic, it is now even more important that VARs find more ways to cut costs. Channels should become thriftier and closely monitor corporate expenses from employee phone calls to travel budgets. Human resources should also be closely reviewed. Some corporations may find it necessary to cut the fat.Laying off employees is difficult and it can sometimes make things worse. It can demoralize employees and affect the work ethics of the people who stay. Unfortunately, some corporations are left with no choice but to revamp their current workforce. Right now, the U.S. is experiencing the worst job cuts in five years. According to the U.S. Department of Labor monthly report, a total of 159,000 jobs were lost in September. Already, a total of 760,000 jobs were lost this year.

Whether resellers layoff employees or not, VARs must be prepared to do more with less. In order to do so, the channel should make the most out of all current resources and find tools that improve efficiency and individual performance.

3. Make Use of Vendor/Distributor Financing Options.Bad debt is the main reason why the U.S. is facing a prolonged recession. But VARs have reason to rejoice as the credit crunch hasn’t really affected them yet. A Channel Insider survey revealed that around 80% of solution providers still have easy access to credit and that, in fact, it is easier to get credit today than three years ago.

Channels should make a conscious effort to assist customers in gaining access to loans and line of credit. By taking advantage of vendor or distributor financing programs, the VARs are paid the full amount upfront while the customer gets to defer payment for a specified period of time. So if customers are concerned about their budget, a financing option might very well clinch the deal.

It is surprising however, that very few VARs consider giving their customers financing options. In a very competitive field, channels who don’t expect their clients to cough up the entire purchase amount in 30 days will win more deals than those that refuse to make financing a regular option.

4. Make the Most Out of Your Vendor Programs, Promotions and Incentives. In the past, vendors would direct more effort on direct sales initiatives during times of economic downturns. Today, it is a totally different story. Vendors have now realized that during tough financial times, they should focus even more on strengthening their relationship with their partners. A really smart move considering that doing so would increase their sales and save them money at the same time.

Why do vendors care so much? VARs are the most cost-efficient way to market products. Imagine how much it would cost for a vendor to hire 200 sales personnel. Now imagine that same vendor being able to reach 100,000 salespeople through partnerships with channels. The most profitable route is obvious.

Unfortunately, a lot of VARs aren’t aware that vendors are throwing them a helping hand. Channels should realize that the best help their partners are giving them are the hundreds of programs, promotions and incentives available to resellers. However, for one reason or another, most resellers fail to avail of these vendor deals.

Vendor programs, promotions and incentives can give massive discounts to resellers. The implications of this are huge. In a competitive market with limited sales opportunities, a channel who registers for vendor deals can come up with a better pricing strategy than the enemy. Remember, in a floundering economy, the best price will almost always win.

5. Invest in Tools for Improving Sales Team Efficiency. Sometimes, you have to spend a little money to save a little money. During a financial crisis, it is advisable for a corporation to look into investing in tools which will improve the efficiency and effectiveness of the sales team and the entire organization in general.

These tools include CRM tools such as Salesforce, or SAP; virtual meetings tools such as Citrix’s GoToMeeting, and vendor management software such as Deal Insight, a portal that actually helps resellers keep track of vendor promotions, programs and incentives.

If you find yourself confused about whether a certain technology is worth investing in, consider the following questions: Will this technology help me increase sales and boost revenue? Will this service or product pay for itself over a short period of time? If you answer yes to the two questions, it will probably be in your best interest to make the purchase.

Of the five recommendations mentioned above, the last one deserves special mention, particularly because a lot of organizations find it hard to do. After all, spending money during a period of time when you could be losing money seems to go against the grain. It is, however, important to stress that some of the tools mentioned above are necessary because not only will they pay for themselves in a short period of time, they may actually start making the company money.

Everyone is already familiar with the benefits of having Customer Relationship Management and Virtual Meeting software. Vendor Management Software, however, is another story all together. It is very new to the market and few VARs have implemented its use. This is unfortunate and should be remedied, particularly because Vendor Management Software specifically addresses the need to utilize vendor programs, promotions and incentives.

Why Better Management of Vendor Information is Needed

Today’s severe economic conditions have made the market extremely price sensitive. Therefore, being able to offer customers the best prices has become of even greater importance. VARs that make the most out of vendor programs, promotions and incentives will have the upper hand as they can pass on discounts earned to their customers.

Unfortunately, there is just too much vendor information out there. The average sales organization needs to weed through over a thousand vendor deals every year. Most sales people don’t even bother searching for these deals-leaving $100,000′s dollars worth of discounts on the table for resellers. During an economic crisis, no one can afford to let this happen.

About Deal Insight

Deal Insight is a relatively new tool and therefore, it is difficult to find a product that is comparable. It is basically a web portal that contains all vendor programs, incentives and promotions that are searchable by product and updated daily. But sales people who are constantly subjected to information from vendors are fully aware of the sheer amount of knowledge that needs to be absorbed.

Take, for example, most large vendors like IBM & HP who have portals with over 2,000 webpages and approximately 1,500 documents. With this amount of clutter it is very easy to lose thousands of dollars worth of opportunities without even realizing it. In addition, vendors send 1000s of emails to resellers in a year. How are sales people supposed to keep track of which offer matches what product? A vendor management tool prevents this from happening and this should be enough to give it a second look.

Of course, one should always consider how much technology costs before making a purchase-especially when dealing with a prolonged economic downturn. Deal Insight, like other SaaS, is affordable and for what it can deliver, may very well be worth it. Qualified VARs can take advantage of a 14-day free trial so they can actually try before they buy. Contract terms are also flexible and implementation is fast. According to the website (http://dealinsight.neuronglobal.com/), it can cost as little as $499 a month. It is definitely something any competitive VAR should look into and according to the website, you can get more information by calling 202 828 1234 or sending an email at info@neuronglobal.com.

Conclusion

When sales are dropping and competition is getting worse, it is vital for channels to squeeze everything they can out of what they currently have. It is a VARs responsibility to ensure that they are ready to face this crisis. Whether it is by realigning their focus on products that are still in high-demand, or by cutting costs, or investing in vendor management software like Deal Insight, adjustments need to be done fast. Channels who delay will find themselves left behind by competitors who act today. There are many tools available to VARs who wish to arm themselves for the war that lies ahead. When the dust clears, those who were not prepared to fight this battle may not survive-while the others who took the other way may very well have thrived.

What jobs are there for Econ majors anyway? It seems most of the stuff we learn is broad and not exactly applicable in the workforce.

(My work experience is part-time secretary at a law firm, part-time secretary at a software company, and also part-time telemarketing.) Basically I’ve worked these jobs while at university.
I might plan on taking just one year off. I still have to take the LSAT for law school, but I hope to apply within one year of graduation.

China’s economic has grown very fast since its reform and opening-up policy began 1978.  But this year the domestic growth is expected to slow as exports to foreigner countries are hit by the USA economic crises and it affect on global economies.  Although the United States government passed a $700 billion “rescue” package to stabilize the crises, the rippling effect is expected to have a slowing effect on China’s brisk economic growth making it the slowest since 2002..

According to the National Bureau of Statistics, China’s share of the world’s combined gross output rose to 6% in 2007 compared with just 1.8% in when its reform and opening-up began 1978.  The growth over the last 30 years has moved China’s GDP ranking in the world from 10th in 1978 to 4th exceeded only by the United States, Japan and Germany.  World Bank ratings show China’s developing economy in the category of lower middle class income with per capita between $936 and $3,705.  Per capita income rose from $190 in 1978 to $2,360 in 2007 and China’s GDP grew at an annual average rate of 9.8%, much higher than the world average during the same period.  

The majority of China’s growth is from exports to the USA. This years USA economic downturn is having a negative influence on China thus the Chinese face a complicated economic situation.  China’s economic growth is estimated to be 10.5% in 2008, 4.5 % lower than 2007 and inflation pressures still exist. Exports will be slow from American economic decline.

China’s tightening monetary policy in 2008 is expected to keep its accelerated economy from overheating and to contain inflation that threatens its social stability.  The Chinese Yuan is expected to rise faster against US dollar in the first half of year compares with latter half.  This will have more negative impacts on the profits of export-oriented companies, and the government should be careful with exchange rate policies to avoid a cooling effect on the domestic economy as the result of declines in exports.

Even though China’s economy is expected to continue to grow it still faced some major problems.  China’s rural areas and agriculture still need much more development. The economic grow has been very fast in recent years, but this fast growth has created many side problems.   Industrial pollution from China’s many factories contaminates the air and water and cause respiratory sickness and cancer.  Eventually China must spend money to resolve these dangerous problems.

China’s major export costumer is the United States.  Since the economic downturn of the United States housing, financial and other investment sectors, Americans are frightened and don’t spend money on as many Chinese products.  This will have a big impact on the acceleration of the booming Chinese economy in the near future.  With the rise in per capita income, the Chinese do have the option to develop their 1 billion plus domestic market of consumers to offset their export decline due to the current global economic crisis.  

Work cited:

www.chinadaily.com.cn/china/2008-01/10/content_6385505.htm www.chinadaily.com.cn/china/2008-01/10/content_6383747.htm

www.chinadaily.com.cn/bizchina/2008-10/27/content_7145579.htm

en.ce.cn/Business/Macro-economic/200810/28/t20081028_17202510.shtml

www.atimes.com/atimes/China_Business/HE19Cb06.html

www.atimes.com/atimes/China_Business.html

www.npr.org/templates/story/story.php?storyId=95727213&ft=1&f=1004

www.boston.com/business/articles/2007/12/05/china_to_tighten_monetary_policy_in_2008/