Read the entire assignment before starting.
Please prepare a short paper (about 1000 words) which has three parts:
1. Evaluate the financial crisis which began in around 2008 based on the perspective of the country in which you plan to offer your product or service (ie, semester project). In other words, this event happened over 10 years ago, but some effects may still be felt today. For example:
a. Which factors helped cause the crisis?
b. What was the impact?
c. To which extent is this still being felt today?
2. Predict how (or whether) this could affect your company today. This could include:
a. How you would get money to start
b. How it could affect your customers’ ability to buy your goods or services
c. Other things—your choice based on the product or service you will provide
d. NOTE: The economic impact of the Covid-19 pandemic is being felt and is still developing. See additional notes (below) on how you can use this instead of the 2008 crisis.
3. Recommend ways your company would address the above. For example, you may have to simplify or reduce your plans. You may have to think of creative ways to finance purchases made by your company’s customers. There could be many other choices. Please try to have at least two suggestions on what you could do.
NOTE: The reason the Covid-19 pandemic is an option is because we are only part way through it, and it is difficult to predict its long-term economic impact. Therefore, you do not have to include it in your evaluation. In comparison, there is a lot of information about impact of the 2008 financial crisis.
You may work with your team (ie, your “company” team members) to discuss the above. However, your paper must be your writing and present your position. For example, your team may decide that it would still be easy to get money, but you have a different view. Please write the paper with your views.
The second part of the paper is designed to have you translate something happening which you cannot control (ie, financial crisis) into ideas on how it could impact your business.
The third part looks at your creativity. In other words, which kinds of things could you think of to address or overcome the problems you see?
Give sufficient space for each of the three parts. For example, I do not want to see that over half of the paper is taken by part 1, and that part 3 is only a few sentences.
Note from your first paper that references are necessary to help the reader see you as a credible source. (This includes putting in citations wherever needed—mostly in part 1.). References cannot come from blogs, Wikipedia, social media or the like. The NCSU library is a good place to start. The Wall Street Journal, Financial Times, Economist, NY Times, Washington Post, IDC are also good possible sources.
The paper must be in Microsoft Word or compatible and be submitted on-line—see the drop box in this Module. It should be about 1000 words. Papers of fewer than 800 words or greater than 1200 words will not be accepted. Note that the references section is not part of these limits.
Here are some additional notes:
If you wish, you can do part 2 assuming a similar crisis (such as the Covid-19 pandemic) happened today. In other words, instead of thinking of how something which happened 10 years ago could still affect a business today, you could assume that such a crisis happens in 2020.
Mandatory: Maintain 12 point font, Times New Roman and single spaced.
Part 1 of the paper is still analysis of what happened in 2008.
Parts 2 and 3 of the paper are still focused on today: What impact would your semester project face today, and how would you respond today?
