Take a look at current economic indicators, including stock market indices, inflation, and the unemployment rate. How have these indices changed during the last twelve months? Based on your research, how do you think the economy will do during the next twelve months?

Why do executives need to understand the economy?

Think about the organization where you occasionally shop, such as your grocery, McDonalds, Krispy Kreme, etc..

Describe a situation that you have observed where the leadership of this organization has taken advantage of economic developments for the benefit of the organization or where leadership missed economic trends and the consequences that the organization had to suffer.

Describe what happened in the economy at the time, how leadership took advantage of or missed these economic developments.

What were the consequences for the organization? For example, did the organization decline while the economy grew in a recession? Why do you think that happened?

How do these companies set their prices?

In response to your peers, discuss the similarities between the responses and what it means for future decisions on pricing and competition.