Ann Harris ONLY
marnique1032
AppliedManagerialDecisionMakingunit2IP.pptxApplied Managerial Decision Making-BI
Race and ethnicity in the American Community
In general, the key findings based on the census reports includes information and data on American population distribution.
The information provided indicates the distribution of race and ethnicity in the American community.
As company’s it is important to consider the targeted population and this should help towards improving effective organizational marketing.
Similarly, comparison of the national statistics based on zone stats, helps to understand the change in ethnicity in the community.
| US Census 2000 Race and Ethnicity | % |
| Total Population: Race | |
| American Indian, Eskimo, Aleut Population | 0.90% |
| Asian | 3.60% |
| Black Population | 12.30% |
| Hispanic Ethnicity | 12.50% |
| Native Hawaiian and Other Pacific Islander Alone | 0.10% |
| Not or Latino | 87.50% |
| Other Population | 5.50% |
| Two or More Races | 2.40% |
| White Population | 75.10% |
To understand the business industry, it is important to focus on the distribution of the business and the targeted audience. This case of ethnicity plays a vital role in the support and distribution of business functions. Business tend to understand the local and international marketing conditions and race and ethnicity is among the core factors, which will impose on the changes in the community and how the company will approach the market. The role played by ethnicity is a challenge and this influences the ability to develop a productive culture associated with locals. The incorporation of certain business principles are also a common entity to understand, convey and create a common resource dealing with effective organizational performance. In this decision, the company should consider investing in the local and international markets. This is to support the nature of changes in the community and how to fully address the impending environmental and societal changes. As a result, the national statistics helps to define the race and ethnicity of a nation and this influences effective communication.
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Race and ethnicity in Code 60614
This is the information from the code 60614 and if the company wants to expand it could the information seriously.
The race is attributed towards the growth of the national population.
For instance, the majority are the whites with 87.60% of the population and this helps a company on developing effective strategic decisions.
Some of the decisions the company should make includes changes and difference for tapping economic conditions of the nation and investment locale.
| US Census 2000 Race and Ethnicity | % |
| Total Population: Race | |
| American Indian, Eskimo, Aleut Population | 0.20% |
| Asian | 3.70% |
| Black Population | 4.80% |
| Hispanic Ethnicity | 5.40% |
| Native Hawaiian and Other Pacific Islander Alone | 0.00% |
| Not or Latino | 94.60% |
| Other Population | 2.10% |
| Two or More Races | 1.60% |
| White Population | 87.60% |
Therefore, the socioeconomic conditions for a given place now comes into play since it helps to define and develop the business community. Comparison form the national stats, indicates the rise in race and the changes in race and ethnicity are many. Therefore, it is a challenge to demonstrate a common understanding on indicating the rise in population and how this will impact the company in the long – run. The same can be applied into the allocations of strategic management by making the core business forums. It is also an essential value to gain, develop, and understand local market conditions. . The role played by ethnicity is a challenge and this influences the ability to develop a productive culture associated with locals. The incorporation of certain business principles are also a common entity to understand, convey and create a common resource dealing with effective organizational performance.
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Differences on Employment
Employment information is crucial since it helps in determining the economic conditions of a nation or a given location.
For instance, the table below indicates the employment information of the United States in the last two decades and so forth.
The rate of unemployment has been standard but dropping from 6.20% to 5.70% in over 10 years.
The information is useful also for determining the effects of employment on influencing organizational development and support.
In comparison with employment on code 60614, the rate of unemployment was at 4.00 and now has increased to 4.40. This information is vital since the company can now understand the consumer dynamics and how to create employment opportunities. To expand, the company needs to understand the demand of the company in terms of sourcing employees. Therefore, the company is able to make a process for incorporating local employees and how to improve on service development and retention. Secondly, the information is ideal due to the changes and ways for engaging socio-economic conditions. If the population change was positive, then, the company could have focused on developing effective and standardized strategies. Thus, this information is presented in a vital way to ensure effective communication and how the company can approach a market and develop pricing or cost pricing strategies.
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Socio-economic differences
Socio-economic conditions differ from one nation to another
A national social economic statistics helps in advising the national economic conditions and checking on the national growth rates.
This is also helpful in helping a company to understand the community it investing in and determine the future financial performance.
Using national stats helps in demonstrating the importance of economic growth based on national economic conditions.
Comparing the data above, it indicates the differences between national income and 60614 income data. The national average is slightly above $50,000 per year, whereas, the 60614 income data has a higher average income than the national benchmark or average. This is a common condition, which could help in the transformation of the company towards its plan of marketing.
The information is also an essential process of embarking on national growth and development. It helps to improve on the conditions of a company. If the market is conducive enough and ideal for investment, the company should consider choosing the services of the company. The same applies in implementation of company policies, such as, pricing, economic conditions, and long-term investment.
As a result, comparing income information will always help in making decisions filled with effective entry into the market and how to generate income. In this example, Big D Company should consider the economic and social status of the market. It helps to empower the company towards making information bound for organizational development.
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60614 Income Summary report
Average Household Income Median Household Income Per Capita Household Income 114615 69311 64426
US Income Summary Report
INCOME Reports Average Household Income Median Household Income Per Capita Household Income 56643 42257 21587
Additional Questions
Which of the environmental factors do you feel is the most critical, to the Big D Incorporated and its decision for expansion and why?
Which of the marketing conditions do you feel are the most critical, to the Big D Incorporated and its decision for expansion and why?
After the analysis of the population, income, and general information how could you advise the company on expansion?
Among the environmental variables, economic, demographic and political variables are amongst the core factors to consider. This is because the direct impact the introduction of the new products such as economic will affect the pricing and market entry the company will use in the introduction of the new products into the market. Political will focus on the policies and relations between the nations and marketing objectives of the company.
Another critical factor is demographic and culture as the most critical elements. This because demographics will also consider the market of the company and the core critical aspects to market. This will influence and define the nature, means, and how to fully support the market of a company’s products.
The company should also consider marketing of its brand by meeting the socio-economic conditions. I could argue about the company has already identified the customers and market for its products. It is important to consider the economic differences and factors influenced by the political and demographic conditions of the international community. This will affect and hinder an effective integration of the new products into the company’s brand. Thus, focusing on the community and its critical aspects will help towards an introduction into the functional performance of a company.
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References
Pak, A. (2013, August 12). Tableau Public - Overview and Applications [Video file]. Retrieved from http://youtu.be/PnkMiHocqRw
Tableau. (2018). Tableau public. Retrieved from http://www.tableausoftware.com/public/
American Marketing Association. (n.d.). Summary reports. Retrieved from http:/www.marketingpower.com/content753.php
Igines. (2012, December 9). How to make a line graph in Excel (Scientific data) [Video file]. Retrieved from https://www.youtube.com/watch?v=Xn7Sd5Uu42A
Microsoft. (2018). Create a chart from start to finish. Retrieved from https://support.office.com/en-us/article/Create-a-chart-from-start-to-finish-0baf399e-dd61-4e18-8a73-b3fd5d5680c2
Occupation and Employment Summary Report
Employment
1990 % 2000
%
Not in Labor Force 66,603,437 34.70% 78,319,195 36.10%
In Labor Force 125,216,716 65.30% 138,829,294 63.90%
Employed 115,716,133 92.40% 129,728,865 93.40%
Unemployed 7,780,384 6.20% 7,947,452 5.70%
In Armed Forces 1,706,113 0.90% 1,152,977 0.80%
|
Occupation and Employment Summary Report |
||||
|
Employment |
|
|
|
|
|
|
1990 |
% |
2000 |
% |
|
Not in Labor Force |
66,603,437 |
34.70% |
78,319,195 |
36.10% |
|
In Labor Force |
125,216,716 |
65.30% |
138,829,294 |
63.90% |
|
Employed |
115,716,133 |
92.40% |
129,728,865 |
93.40% |
|
Unemployed |
7,780,384 |
6.20% |
7,947,452 |
5.70% |
|
In Armed Forces |
1,706,113 |
0.90% |
1,152,977 |
0.80% |
|
|
|
|
|
|
Occupation and Employment Summary Report
Employment
1990
%
2000
%
Not in Labor Force
66,603,437
34.70%
78,319,195
36.10%
In Labor Force
125,216,716
65.30%
138,829,294
63.90%
Employed
115,716,133
92.40%
129,728,865
93.40%
Unemployed
7,780,384
6.20%
7,947,452
5.70%
In Armed Forces
1,706,113
0.90%
1,152,977
0.80%
Occupation and Employment Summary Report
Employment
1990 % 2000
%
Not in Labor Force 66,603,437 34.70% 78,319,195 36.10%
In Labor Force 125,216,716 65.30% 138,829,294 63.90%
Employed 115,716,133 92.40% 129,728,865 93.40%
Unemployed 7,780,384 6.20% 7,947,452 5.70%
In Armed Forces 1,706,113 0.90% 1,152,977 0.80%
