The Boston Beer Company Essay Example for Free

The Boston Beer Company Essay Jim Koch began selling Sam Adams beer from bar to bar out of a brief case in April 1985. He sold unlabeled bottles kept cold with chill packs from his briefcase. His sales tactic was the following simply 10-second pitch: â€Å"Try this new beer. It’s handcrafted in small batches. You’ll like the taste. † (Hyatt, 2010) At the time, the craft beer industry in America was virtually non-existent. By 1989, sales of Sam Adams had grown to 63,000 barrels. In 1996, Sam Adams sales had reached 1. 2 million barrels. (Wikipedia, 2012). The success of the brand served as the catalyst for what many call the microbrew revolution. By 1995, there were approximately 600 small, local and regional breweries throughout the United States. Today, the Boston Beer Company (producer of Sam Adams) employs over 800 workers and brews over 2 million barrels of Sam Adams beer annually. It is the largest of the craft breweries in the United States. (Boston Beer Company) The craft brew industry accounts for about 1 percent of the domestic beer market, which is dominated by giants MillerCoors and Anheuser-Busch InBev. This is has required a remarkable level of growth since the early 1990s. In 2011, the industry grew 13 percent by volume (barrels) and 15 percent by retail dollars. Domestic craft beer sales reached 11,468,152 barrels in 2011, up from 10,133,571 in 2010. This growth has occurred despite the overall $96 billion domestic beer market contracting in the past few years (down 1 percent in 2011 to 199,937,239 barrels). (Brewers Association, 2012) The craft brew industry is comprised of several types of breweries which range in annual production from a few barrels up to 6 million barrels. The Brewers Association recently revised the upper limit from a previous point of 2 million barrels in 2011. (Nason, 2011). The industry classifications are the following: * Nanobreweries: Breweries which produce less than 30 barrels per year. * Microbreweries: Breweries classified by their annual production volume, which is up to 15,000 barrels per year. In addition, 75 percent of the beer produced is sold outside of the brewery. There are no set guidelines on the inputs or techniques used to produce the beer in order to be classified as a microbrewery. (Kleban Nickerson, 2011) While the term is often used interchangeably with the term ‘craft beer,’ they are actually not synonyms. A craft beer must contain at least 50 percent traditional malt. (Brown, 2012) * Brewpubs: Restaurant-based breweries in which more than 25 percent of the beer produced is sold onsite, often directly from the brewery’s storage tanks. A majority of these are located in the northeast. * Contract brewing company: Breweries which outsource their production to other breweries subject to exact brewing specifications. The contract brewing company handles all marketing, distribution, and selling responsibilities. (Brewers Association, 2012) Boston Beer Company used to be classified as a contract brewing company. However, from 2007 to 2009 the company’s production at company-owned breweries increased from approximately 35 percent to over 95 percent. (Datamonitor, 2011) * Regional craft brewery: Brewers which produce from 15,000 to 6 million barrels of beer per year. Less than 25 percent of the brewery is owned or controlled by a non-craft alcoholic beverage industry member. In addition, at least 50 percent of its production volume must be in all-malt beers. (Brewers Association, 2012) The Boston Beer Company is now a regional craft brewery. The total number of U. S.craft breweries passed 2,000 in 2012, with significant growth since 2009: Breweries (#)| 2009| 2010| 2011| Regional Craft Bwr. | 71| 81| 88| Microbreweries| 505| 615| 789| Brew Pubs| 1,020| 1,053| 1,063| Total| 1,596| 1,749| 1,938| (Brewers Association, 2012) The industry is based on a three-tiered system of distribution in which the producers partner with wholesale distributors who provide transportation and refrigerated storage to retailers. There are hundreds of distributors in the industry, and over 630,000 retailers. There are over 220 million potential customers (over the age of 21 yrs.) domestically. (Beaudette, 2011). States control the regulation of the industry, and typically collect taxes through the distributors, rather than attempting to work with hundreds of thousands of retail outlets. (Beer Distributors of Oklahoma, 2010) Company’s Dominant Features The Sam Adams brand was named for the Boston revolutionary who was also a brewer. Samuel Adams Boston Lager made its debut in April 1985, when it was served in approximately 25 Boston bars and restaurants. At this point, the company had two employees: Jim Koch (founder) and his partner Rhonda Kallman. Sales reached 500 barrels by the end of the year, and the company expanded rapidly from there. (Samuel Adams, 2012) The company went public as the Boston Beer Company in 1995, selling shares of Class A common stock on the New York Stock Exchange using the ticker symbol SAM. Jim Koch owns 100 percent of the company’s class B stock, which grants him control over all decision-making responsibilities of Boston Beer Company. They have three breweries located in Cincinnati, Boston and Breinigsville (Pennsylvania), and produce over 30 styles of beer. (Boston Beer Company) This includes its seasonal brands: Alpine Spring (January-March), Summer Ale (April-August), Octoberfest (August-October), and Winter Lager (November-January). (Wikipedia, 2012) The company currently produces over 2 million barrels of beer annually, and is the largest craft brewery in the industry. It is the second largest American brewery by sales volume (to D. G. Yuengling and Son). The company has been a pioneer within a growing differentiated niche market within the alcohol beverage industry. The Boston Beer company builds its competitive advantage by focusing on innovation and quality (freshness). The company (and craft beer industry as a whole) cannot compete with Anheuser-Busch InBev and MillerCoors based on price due to lack of scale (though Sam Adams is more widely distributed than any of its craft industry members). The company began freshness dating back in 1987. It soon followed this with an amnesty program for its wholesalers which allowed beer that was three months past its expiration date to be returned for a partial refund. In more recent years, the company has enacted its Freshest Beer in Town initiative. This is a just-in-time distribution model in which wholesale partners will keep only one week of inventory (down from 3-4 weeks’ worth before), and the Boston Beer Co. will replenish supply based on consumer demand. The company also has begun the Draft Quality Audit Program, in which trained employees make in-market visits to test the freshness of the company’s product on tap at various retailers. Over 20,000 such audits are now conducted on an annual basis. The company also plans to continue pursuit of joint collaborations with other breweries and expansion of its own operations. It currently has an agreement with Moosehead Brewery for distribution of Sam Adams products in Canada. It has also teamed with Germany’s Weihenstephan Brewery to create Infinium, the first new beer style created under the Reinheitsgebot principle of beer purity (only four allowed ingredients: water, malt, hops and yeast). The Weihenstephan Brewery has a credible claim as being the world’s oldest brewery, and enjoys a strong reputation among beer enthusiasts. (Zegler, 2012) Regarding potential future growth, founder Jim Koch is excited for both his company and the craft beer industry. In 2011, he stated the following: I do believe that craft beer has a solid foundation for continued growth. Because in 2011, craft beer has become the new wine and the 20-somethings are adopting craft beer in the same way that their boomer parents adopted wine. When that happened in the 80s it led to decades of steady, healthy growth, and I’m optimistic that craft beer can have many years of steady, health growth†¦. I also believe that we (Boston Beer Co. ) have a really bright future. We’re also very small. Sam Adams can double. We can maybe even triple [in size] in the next 20 years. (Zegler, 2012). Places where it competes As stated above, the Boston Beer Company operates three breweries in Cincinnati, Boston and Lehigh Valley of Pennsylvania. Over 95 percent of the company’s products are now produced in its own breweries. It is distributed throughout the United States, in parts of Europe including Germany, and now in Canada through an agreement with the Canadian brewery Moosehead. Standing in the Industry (Rivals) Boston Beer Co. has been the craft brewing industry leader since its beginning. It was the number one craft brewer in 2011 based on beer sales volume. It was followed by Sierra Nevada Brewing Co.and New Belgium Brewing Co. In the overall industry, Boston Beer Co. is number five in beer sales volume, behind Anheuser-Busch InBev, MillerCoors, Pabst Brewing Co. and D. G. Yuengling and Son Inc. The craft beer segment accounts for approximately one percent of the overall alcoholic beverage category (includes wine and spirits, imported beer, craft and large breweries). (Brewers Association, 2012) Anheuser-Busch InBev and MillerCoors dominate the industry, though business dipped last year. Interestingly, there seems to be a great amount of cooperation and collaboration amongst the members of the craft brewing segment. Building the segment is a common concern with many of the regional craft breweries. For example, in 2008 Boston Beer Co. responded to an industry-wide hops shortage by sharing 20,000 pounds of its own hops at cost with 108 selected craft breweries. (Samuel Adams, 2008) There are many other notable craft breweries that have emerged as industry leaders in the past decade, including the following: * Sierra Nevada Brewing Co. : The nation’s second largest craft brewer, they are based Chico, California. The company was founded by Ken Grossman and Paul Camusi in 1980. Production is approaching 1 million barrels annually. The most popular product is the Sierra Nevada Pale Ale. * New Belgium Brewing Co. : Headquartered in Ft. Collins, Colorado and founded in 1991 by Jeff Lebesch. The company’s flagship beer is the popular Fat Tire. It is the nation’s third largest craft brewery. The company’s distribution network had reached 19 states by 2009, and is growing. * Deschutes Brewery: Based in Bend, Oregon. The company’s products include its Black Butte Porter, Mirror Pond Pale Ale and the award-winning The Abyss (11% alcohol by volume; released in 2007). * Harpoon Brewery: Headquartered in Boston, Mass. Products include its India Pale Ale, Munich Dark, 1636 Brew and four seasonal varieties. * Boulevard Brewing Co. : Located in Kansas City, Missouri. The company’s products are available in over twenty states in the Midwest region. (CNBC, 2012) * Dogfish Heah Craft Brewery: Founded by Sam Calagione and based out of Delaware. Calagione is known for pushing the boundaries of brewing varieties, and actually collaborating with Jim Koch in creating 2009’s SAVOR Flowers brew (it was a one-time experiment). Competitive Capabilities Boston Beer is the craft beer industry leader by production and sales volume. Its focus is on freshness and innovation (variety). The company started early with its freshness dating, followed by its amnesty program for its distributors, and now the Freshest Beer in Town and Draft Quality Audit Program. Regarding his company’s emphasis on beer freshness, Koch stated the following: If my beer isn’t fresh, I want the consumer to buy something else. And I want to make it as easy as possible for them to know because if they have a bad experience with my beer, they may not buy it again. To me, it’s not about trying to get consumers that are trying one beer after another and they never buy again. I’m very focused on giving consumers a great taste in every bottle so I can build brand loyalty based on a reliably rewarding experience. (Zegler, 2012) Boston Beer innovation is manifest in its wide variety of seasonal and specialty brews, as well as its recent notable collaborations. It teamed with Weihenstephan Brewery to create Infinium, which sold out domestically within a few weeks, and apparently had similar success in Germany. The company added Noble Pils in 2010 (winner of its 2009 Beer Lover’s Choice election; brewed with all five Noble hops). Latitude 48 is an India pale ale with hops from producers along the 48-degree latitude sources. The company also released its Samuel Adams Revolutionary Rye Ale in 2011 (winner of 2010 Beer Lover’s Choice election). The company also intends to expand its Barrel Room collection of beers, which until recently were only distributed in Denver and Boston. The Barrel Room beers are aged in the Boston Beer Company’s brewery supply of barrels, and include American Kriek, New World Tripel, and Stony Brook Red varieties. Jim Koch stated the following concerning his company’s push for new varieties: We’re not the new kid on the block. We’re not the newest beer out there. We’re not the most local. We don’t have the best marketing or a cute brand name. People have tried Sam Adams, it’s not a new experience†¦ the reason that we’ve become the leading craft brewery is because we have always given the consumer the best possible experience and they have rewarded us with their loyalty. That’s why we keep pushing on those things. . (Zegler, 2012) Forces Driving Industry Change. Aside from the continued expansion efforts of many industry’s regional craft breweries, there has also been a current lobbying push on behalf of the craft beer industry for the passage of Congressional bills H. R. 1236 and S. 534, which would reduce federal excise taxes applicable to the craft breweries. Specifically, if passed the bill would reduce the small brewer rate on the first 60,000 barrels by 50 percent, from $7. 00 to $3. 50 per barrel. The rate on production between 60,000 and 2 million barrels would also be reduced from $18. 00 to $16. 00 per barrel. The two bills were introduced in March 2011. (Brewers Association, 2012) (Buchman Law Firm, LLP) Sources of Competitive Advantage Arenas Boston Beer Company operates in the craft brewing industry, which accounts for approximately 1 percent of the overall beer industry, which is dominated by Anheuser-Busch InBev and MillerCoors. Sam Adams and the company’s other products are distributed throughout the United States and Canada (via the recent agreement with Moosehead Brewery of Canada). The company’s target customer is one who is willing to pay a premium price for a quality beer, and will display brand loyalty. The company’s standing as a catalyst for the microbrew revolution has given it considerable brand recognition among beer enthusiasts. Vehicles The company has grown considerably in twenty years, employing over 800 employees with three breweries which now produce 95 percent of the company’s products. Jim Koch plans to continue company expansion, with visions of tripling in size in the next twenty years. Based on the company’s history, expansion will most likely occur through internal development rather than via any mergers or acquisitions. Each beer style must registered by requests for certificates of label approval (COLA). State registration usually requires a state application coupled with the federal COLA for a given label. (Buchman Law Firm, LLP) Excise taxes are typically collected through a company’s wholesalers. Boston Beer Co. has embarked on some notable recent joint ventures, including its creation of Infinium in collaboration with the Weihenstephan Brewery and its Canadian distribution agreement with Moosehead Brewery. On the supply side, the company must continually replenish its inventory of barley and hops. Monthly barley prices from February 2007 to January 2012 had a standard deviation of $37. 76 per metric ton. This low amount of variation has led many breweries to simply purchase the crop on an annual basis. Conversely, many breweries will contract to acquire hops years into the future. The Boston Beer Company has over $33 million in hops contract commitments through 2015. (Craft Beer Analytics, 2011) Differentiators Boston Beer Company has significant brand equity within the craft beer industry due to its significant role in creating it. They attempt to further differentiate their products based on freshness and product innovation. Its Freshest Beer in Town initiative is a just-in-time supply arrangement with the company’s wholesalers (it was intended to include 50 percent of Boston Beer’s distributors by the end of 2011). (Craft Beer Restaurant Times, 2011) The program reduced suppliers’ inventories of Sam Adams down from an average of 3-4 weeks to just one week (which is to be kept chilled). Boston Beer ships more based on what the distributors have sold as opposed to advance orders. According to Koch: â€Å"Refrigeration of the beer virtually eliminates all of the product degradation that happens through the supply chain. The temperature control also makes it as if the retail account is getting its beer straight from the brewery. † The Draft Quality Audit Program is one in which company salespeople have been trained to taste the defects and track the cause of low quality Sam Adams on tap at various retailers. Boston Beer Co. now conducts approximately 20,000 audits each year, which has resulted in a drop in the incidence of low quality company beer from 15 to just 3 percent, according to Koch. (Zegler, 2012) The company has also continued to expand its beer varieties. From its seasonal brews and collaborations with breweries such as Dogfish Head and Weihenstephan, to its Barrel Room collection and updates such as Noble Pils, Latitude 48 and Revolutionary Rye Ale, the company is always looking to test the boundaries of craft brewing. Corporate Strategies Boston Beer Company has successfully built on Sam Adams’ strong brand equity, differentiating its products based on quality, variety, and freshness. The company has continued to expand its operations with no plans to discontinue such efforts. It has also hedged against future increases in hops prices with over $33 million in hops contracts already signed covering the company through December of 2015. Economic Logic The craft beer industry is based on the idea that consumers will pay a premium price for a quality beer which is different from the industry norms offered by companies such as Anheuser-Busch InBev and MillerCoors. Sam Adams also benefits from considerable brand equity. Staging and Pacing. Jim Koch has stated that he believes that the craft beer industry will continue to trend upward in sales relative the rest of the alcoholic beverage industry, and that the Boston Beer Company could triple in size within the next 20 years. His opinion on this matter is important, because Koch owns all of the company’s Class B common stock and with it, retains all decision-making authority for the company. Financial Analysis Current Financial Standing The 2011 fiscal year provided the Boston Beer Company with multiple opportunities to raise their glasses. Undoubtedly, the major achievement of 2011 was officially obtaining just over 1% of the United States beer market. This increased market share enabled the company to release some very impressive numbers in their recent 10-K. Earnings Snapshot| Revenue| $558. 282M| Net income| $66. 059M| Return on assets| 24. 24%| Return on equity| 35. 76%| Profit margin| 11. 83%| Current ratio| 1. 88| Quick ratio| 1. 37| Quite possibly the most staggering ratios from the 2011 filing are the company’s return on assets (investment) and return on equity. These tools measure how profitable a firm is relative to their total assets and total equity, respectively. In 2011, the Boston Beer Company reported a return on assets of 24. 24% and a return on equity of 35. 76%. Both of these ratios have a high level of volatility depending on the industry. These measures are remarkable within the alcoholic beverage industry, as well as the general beverage industry. In comparison, Coca-Cola (KO) posted a return on assets of 10. 72% and a return on equity of 27. 10% in 2011, while the winemaking company Constellation Brands (STZ) posted a return on assets of 6. 25% and a return on equity of 16. 75%. Furthermore, the company performed well regarding profit margin. Differing from other measures, profit margin should rarely be used to compare different firms. The reasoning behind this is that firms have varying levels of setups, so comparing profit margins could lead to confusion and misdiagnosis. The best way to use profit margin is against prior years. When weighed against its prior years, the company has seen a constant uptick over the past several years, signifying it is doing a good job of controlling costs and setting pricing at a reasonable level. The Boston Beer Company excelled in their liquidity and leverage ratios as well, not just in the three major profitability ratios: return on assets, return on equity, and profit margin. The most common ratios for measuring liquidity are the current ratio, quick ratio, and cash ratio. The current ratio (liquidity ratio) is an easy way to measure whether a firm is able to pay its short-term debts. A ratio of 1. 0 or above is likely and expected, and the Boston Beer Company’s 2011 current ratio of 1. 88 leaves it with plenty of leeway to pay all of its short-term obligations. Much like the current ratio, the quick ratio is a slightly more conservative measure that takes into account current levels of inventory, which can be difficult to liquidate. The company’s quick ratio is 1. 37, after taking out inventories. This still leaves plenty of room for the company to repay its short-term obligations. The last liquidity ratio is the cash ratio, which is the least commonly used of the three measures mentioned previously. The cash ratio is the ultimate ratio of liquidity because it only compares cash and marketable securities to current liabilities. An extremely high cash ratio could signify that a firm is stockpiling cash and not investing its assets wisely. The company’s cash ratio of 0. 74 is less than 1. 0 but still reasonable considering the other amounts of short-term assets. While the company does not have the ability to pay its short-term obligations with cash, it is still operating within a secure level of liquidity. The last group of ratios is the leverage ratios. These ratios measure how much debt a company is carrying. The total debt ratio divides total liabilities by total assets, giving an estimation of how leveraged a company is at a given time. In 2011, the Boston Beer Company’s total debt ratio was 0. 32, which would signify a generally low level of risk to potential investors. Much like the total debt ratio, the debt to equity ratio is a leverage ratio that has total debt in the numerator. The difference is the debt to equity ratio divides the total debt by stockholders equity. This ratio shows how a company finances its activities, whether through debt or equity. The Boston Beer Company’s debt to equity ratio of 0. 47 indicates it has very little debt compared to its equity. This shows how the company has been conservative in using debt to finance its operations. The last leverage ratio is interest coverage, a tool used to see how easily a company can pay its interest expenses. Since the company has interest income instead of interest expense, the interest coverage ratio is not valuable when evaluating the company’s 2011 financials. Recent Financial Trends During the past three years, the Boston Beer Company has seen steady gains from almost all of their major financial indicators. The company, undoubtedly, has improved on their prior year results across the board since 2009. When the financial crisis struck the United States and the world in late 2008, most firms encountered decreased earnings and in many instances, losses. Many of these companies are just now returning to their pre-recession profitability. The majority of the damage was incurred to these companies in the fourth quarter of 2008 and well into 2009. As seen by their year-over-year net income growth of 284. 74% in 2009, the recession did little to hurt the company’s financial situation. One potential explanation for its recession success comes from the â€Å"relationship between economic recession and [increased] consumption of alcohol and that heavy drinking behavior is unambiguously associated with unhappy feelings or dissatisfaction† (Anderson Moro, 2008). The widespread theory is that a sudden decrease in income has little affect or possibly a negative correlation with beer consumption. Quite possibly, this could explain why most vice companies trade with a beta less than 1. 0, indicating a negative relationship with the market. The Boston Beer Company is currently trading with a beta of 0. 85. In their most recent 10K, the company posted a year-over-year net income growth of 31. 74%. While this number appears very positive on the surface, it does not fully take into account a settlement the company received from its glass bottle supplier when the company had to issue a recall after routine inspections found glass particles in certain bottles. The recall affected approximately 25% of the company’s bottles and was completed by the fourth quarter. Nevertheless, the end result was the company â€Å"received a cash payment of $20. 5 million, which was recorded as an offset to operating expenses, and all parties have released each other of any claims as they relate to this matter† (The Boston Beer Company, Inc. , 2011). Comparison with Market Leaders While the Boston Beer Company has been experienced significant gains the past few years, it is still a minor player in the beer industry compared to the two leaders: Anheuser-Busch InBev and MillerCoors. These two companies combine for a total market share of just over 35%. The Boston Beer Company’s 2011 revenue of $558. 282 million is 1. 43% and 10. 80% of Anheuser-Busch InBev’s $39. 046 billion and SABMiller’s $5. 170 billion, respectively. While it cannot compete on revenue, the company can compete on productivity. The productivity ratio is computed as employees divided by revenue. The company’s productivity ratio of $664,620 per employee tops Anheuser-Busch InBev’s $336,600 per employee and MillerCoors’ $277,260 per employee. The company has repeatedly stated that its goal has never been to be on the same level as the market leaders. Instead, its goal is to be the leader in the better beer category, which includes Yuengling, Corona, and Heineken. In 2011, D. G. Yuengling and Son passed the company as the largest American beer-maker in sales, a title long held by Anheuser-Busch. The Boston Beer Company’s objective is to regain that title and grow with the better beer category. Stock Trends The Boston Beer Company has a very unique setup for their common stock. The company has 8,714,931 shares of Class A Common Stock outstanding and 4,107,355 shares of Class B Common Stock outstanding. Where the setup gets unique is that the Class A Common Stock only have voting power to approve certain mergers and elect a minority to the board of directors. The Class B Common Stock is held entirely by C. James Koch, Chairman of the Board of Directors, who has control over the majority of the board of directors and most other matters regarding shareholder approval. This gives Mr. Koch substantial control over his company and takes a large amount of power from the remaining shareholders. After reaching its lowest point in close to a decade at $19. 02 in May 2009, the Boston Beer Company (SAM) has rebounded to new levels. In fact, the stock reached its all time high of $119. 84 on June 19, 2012. Except for a decline of close to 25% of the stock’s value in early 2011, the increase has been steady and balanced since the low in 2009. One interesting note is the volume of shares traded in late 2007. Traders saw the stock rising quickly from $30 to $50 and felt it had a lot of volatility. This led to a sharp increase in trading activity that pushed the volume over 1. 5 million shares. Stock Performance Outlook As of late, stock analysts have conveyed mixed feelings about the company’s future stock outlook. According to Morningstar’s survey of four analysts, one rates the stock a buy, one rates it underperform, and two rate it a hold. This shows exactly how divided analysts are on the future of the stock. Since 2008, earnings per share has increased from $0. 56 to $4. 81, although the $4. 81 does take into account the settlement. Excluding the settlement, earnings per share in 2011 was $3. 73, still a 5. 97% increase over 2010. For 2012, analysts are â€Å"looking for full-year earnings of $4. 14, a projected 10% increase from last year. The next-year estimate is pegged at $4. 80, a solid 16% earnings growth projection† (Vodicka, 2012). If the company meets or exceeds these earnings projections, there is little doubt that it could continue climbing. Traders who are bullish on the stock believe it should continue growing with the craft brewery sector. They point toward the company’s recent run of hitting estimates, its healthy price to earnings ratio of 22. 57, and its recent investment in their brewing facilities to keep up with increased demand. On the other hand, bearish traders point toward the company’s high valuation premiums that are incorporated into the prices. If the company were to miss their upcoming quarterly earnings, it could ignite some traders to short the stock, potentially sending it spiraling. Key Success Factors. For firms to be successful over a long period of time, they must be aware of the key success factors that drive profitability in their industries. Key success factors are a set of issues that all companies operating in the industry must pay attention to in order to be successful. Quite simply, key success factors are something each company must have to accomplish long-term success. In his 2004 journal article, Richard A. Caralli explains that â€Å"every organization inherits a particular set of operating conditions and challenges that are inherent to the industry (or a segment of the industry) in which it chooses to do business. This results in a unique set of [key success factors] that organizations in a particular industry must achieve to maintain or increase their competitive positions, achieve their goals, and accomplish their missions† (Caralli, 2004). The beer industry in particular has three main key success factors. First, firms must have an advertising campaign that effectively reaches their target audience. For years, Anheuser-Busch has been the market leader by segmenting the way it advertises its different brands. Budweiser is marketed as the â€Å"King of Beers† and is known for its signature Clydesdale horses and vintage bottle design. On the other hand, Bud Light is marketed as â€Å"The Sure Sign of a Good Time. † Its commercials are designed for a much younger audience and are regularly voted as some of the most humorous on television. The other major beer makers seem to follow the same strategy of marketing their core brand as legendary and historic, while marketing the light varieties in a more humorous tone. A second key success factor in the beer industry is obtaining and maintaining a network of wholesale distributors. These distributors act as middlemen to transport the beer from brewers and importers to stores, bars, and restaurants. The approximately 3,300 distributors in the United States allow companies to focus more on brewing and marketing and less on delivery to the end user. The beer wholesaler industry is a very large industry in itself. The largest distributor, Reyes Beverage Group, delivers 93 million cases per year and has revenues of $1. 9 billion. Firms must keep in constant contact with these distributors to ensure timely and cost-effective delivery. The last major key success factor affecting the beer industry is knowledge of the consumer. To be able to effectively advertise for their brands, firms must have deep knowledge of their target audience. The beer industry is segmented into a variety of different divisions. Marketing a specific product incorrectly could be extremely costly. Miller is effectively targeting their target audiences with Miller 64 and Miller High Life. Miller 64, with only 64 calories, is intended for males and females age 35 and under, while Miller High Life is intende.

An Analysis of Emily Dickinsons Poem, Because I Could Not Stop for Dea

In the poem â€Å"Because I could not stop for Death† by Emily Dickinson refers to death as a gentlemen who unexpectedly visits Dickinson to take her on a journey â€Å"towards eternity† (I. 24). It is very ironic that she considers death as a gentleman, but as we all know it is the total opposite. On the second stanza they both start the slow and peaceful journey. â€Å"We slowly drove, he knew no haste† (I. 5). We can see the tranquility of the scene in which they are. Dickinson here understands the seriousness of the situation in which she is, and she forgets about everything. â€Å"And I put away my labor and my leisure too, For his civility† She describes her struggle in life with the word â€Å"labor†, the word â€Å"leisure† as her freedom (I.6) and deaths kindness as â€Å"civility† (I.8)Stanza number three narrates her story from her childhood as â€Å"children strove† (I.9) followed by â€Å"the fields of Grazing grain† (I.11) and ending with â€Å"the setting sun† (I.12) This stanza talks and explains about how we all go through our life stages. The fourth stanza demonstrates how uncertain she is about her life. O...

Hca/250 Change and Innovation Paper

Change and Innovation Paper HCA/250 Change and Innovation Change and Innovation In today’s economy we have experienced numerous amounts of change especially within the workplace. Some of these changes consist of new technology, procedures, as well as equipment, which can cause a lot of misunderstandings amongst present employees. According to the scenario given; a major health care organization has decided to use electronic medical records (EMRs). The employees in this organization are resistant to change, specifically changes that have to deal with technology.There are several ways that an employer can resolve situations like these and convert it into a positive that will benefit the facility. Within the workplace it may be difficult for employees to adapt change due to being confined to their usual agenda. Also most may find it highly difficult to manage the adjustment in using electronic medical records (EMRs), because that’s training that present and future employee s would have to complete in order to be certified to use this new technology.Also acknowledge that many of these facilities today rarely offer on-the-job training, which is time that employees have to appoint in order to be up to date with their place of employment which many may not have. Therefore, giving us an understanding why employees would be resistant toward the technical changes within the workplace. Being that I am a recreational manager at my current place of employment I too have to deal with the questions and concerns of current employees who may have an issue with certain changes.Some strategies that I consider helpful is to start by finding out their reason for not wanting to confine to the new changes and hopefully see if there is a reasonable conclusion that can possibly resolve the situation at hand. Also, stating the present reason(s) for the change, Change and Innovation giving the employee an explanation on how it will benefit the facility as well as themselves. After doing so if their still in disagreement I’d still encourage them to perform their duties to their fullest potential.It is not guaranteed that an employer can please all of its workers, but make it to where they at least feel comfortable performing their duties in that particular work environment. So it is good to follow through with the innovation plans, so that employees are aware of their new goals and how to manage their performance for the better good of the company. So why are some employees resistant toward organizational change? There can be multiple reasons for this.Many may disagree with certain changes that are being made, time management may cause conflict to a lot of schedules, due to the fact that many of us do inquire a second job, or it can just be that they may not like the new ideas of change for their own personal reasons. It is understandable that employees may have issues with certain adjustments especially if it’s going to affect other thing s they may have going on. For example, at my place of employment we had recently made the decision to keep our facility open later on the weekends because we realized we make more profit mainly on the weekends.Whereas making such change has affected some of our employees being that some of them work second jobs strictly on the weekends aside from this one, along with others who have children and are not able to find child care that could keep their children until eleven o’clock. So it has created a lot of conflict for some of our employees where we had to come to an agreement on how we could work around their second job schedules and their availability. Having to adjust to certain employees’ availability is where Human Resources can play a role in adapting and managing change.They have the ability to set forth ideas and solutions on how to keep the necessary change in progress Change and Innovation as well as assisting their workers with managing their work schedules a nd extras that may hinder them from fully achieving the necessary changes within the work environment. Giving another example from my place of work, we have recently got the approval to expand our facility so we can add more amenities for our customers’ enjoyment. Therefore, Human Resources have aken it upon themselves to hire flex time workers in order to cover the shifts that our regular workers cannot. However, it all works out for the better good of our facility by increasing the success from the management of innovation and change. Reference 1. http://smallbusiness. chron. com/innovation-change-business 2. http://www. leadership-and-motivation-training. com/strategies-for-managing-change 3. Coulter, M. , DeCenzo, D. , Robbins, S. (2011). Fundamentals of Management: Essential Concepts and Applications. Seventh Edition. Pearson Education. Published: Prentice Hall.

The Rise Of The Roman Empire - 1864 Words

Julius Caesar , a Roman general and statesman he turned the Roman republic into a powerful Roman Empire. A coup ended his reign , and his powerful life , on the Ides Of March. He played a critical role in the events that led to the demise of the Roman Republic and the rise of the Roman Empire. In 60 BC, Caesar, Crassus, and Pompey formed a political alliance that was to dominate Roman politics for several years. Their attempts to amass power through populist tactics were opposed by the conservative ruling class within the Roman Senate, among them Cato the Younger with the frequent support of Cicero. Caesar s victories in the Gallic Wars, completed by 51 BC, extended Rome s territory to the English Channel and the Rhine. Caesar became the first Roman general to cross both when he built a bridge across the Rhine and conducted the first invasion of Britain. These achievements granted him unmatched military power and threatened to eclipse the standing of Pompey, who had realigned himself with the Senate after the death of Crassus in 53 BC. With the Gallic Wars concluded, the Senate ordered Caesar to step down from his military command and return to Rome. Caesar refused the order, and instead marked his defiance in 49 BC by crossing the Rubicon with a legion, leaving his province and illegally entering Roman Italy under arms. Civil war resulted, and Caesar s victory in the war put him in an unrivaled position of power and influence. After assuming control of government,Show MoreRelatedThe Rise Of The Roman Empire973 Words   |  4 Pagessee how empires grew and became successful. Many empires were so successful because of their leaders and their philosophies. Empires often had good runs and would be running successful until a stronger and more powerful empire would bring them down. One empire that was known as the most advanced both socially and politically in the western civilization was the Roman Empire. At about 285 CE the empire was so greatly advanced that the Roman central government could no longer rule the empire on its ownRead MoreThe Rise Of The Roman Empire2740 Words   |  11 Pagesone thing comes to mind, the Roman Empire. The Roman Empire was one of the greatest empires of all time. The span of the Roman Empire grew from itself outward to the countries of England, Africa, Spain, and even Syria. The Roman Empire covered a vast area of land, with ambitions of continued growth. The Roman Empire rose to glory in 27 BC. The rise of the Roman Empire began with its military forces and its many emperor’s reign. The society and life of Romans were also affected by the empire’sRead MoreThe Rise Of The Roman Empire Essay1875 Words   |  8 PagesConstantine was the first Roman Emperor to convert to Christianity. He started his reign in 307 AD. During this time the Roman Empire was still composed mainly of pagans. Although the population of Christians was on the rise, in the beginning of the fourth century, Christians made up only 10 percent of the population in the Roman Empire. There were approximately five million Christians in the Roman Empire meaning that they were still the minority (Waldron). His conversion was an important turningRead MoreThe Rise Of The Roman Empire1494 Words   |  6 Pagescentral Europe and occupied by several Celtic tribes in pre-Roman times. The land was claimed by the Roman Empire once the Celtic tribe Noricum fell to the Empire and became a providence. Once the Roman Empire gained control of the area, it soon set up a Military camp on the eastern side of the providence calling it the Upper Pannonia providence which was the home for 50,000 people for nearly 400 years. After the fall of the Roman Empire; Charlemagne, King of the Franks, had control of the land atRead MoreThe Rise Of The Roman Empire2506 Words   |  11 PagesOne of the greatest empires to have existed in ancient human history is undoubtedly the Roman Empire. The Roman Empire maintained very sophisticated governmental policies. Not only were they responsible for groundbreaking political systems, Rome was very technologically advanced as well. Rome would lay a foundation for civilizations to come with the innovative political and technological breakthroughs they experienced. Unfortunately for Rome, the higher the rise also meant the harder the fall. RomeRead MoreThe Rise Of The Roman Empire2137 Words   |  9 Pagesas the Roman Empire was nearly compromised after the German Visigoths and their leader, Alaric, invaded it in 410 AD. This invasion of the newly Christian Empire that was supposed to be invincible shattered the confidence of the Romans and subsequently led them to question the power of their new single God. The Roman Empire has previously been a Pagan empire, but Constantine the Great converted the empire to Christianity less than a century before the Visigoths captured Rome. Many Romans were skepticalRead MoreThe Rise Of The Roman Empire1428 Words   |  6 PagesThe Roman Empire is widely regarded as one of, if not the most dominant government to ever exist. Early civilization in Europe was dominated by the Romans, and their constantly growing empire. With the help of Greek political ideas, the Romans adopted one very similar where supreme power is held by the people from their elected representatives. These representatives were a part of the Senate, where all political laws were made and enforced, very similar idea to the type of Senate that existsRead MoreThe Rise Of The Roman Empire1224 Words   |  5 Pagesinfluence to affect the Roman world. Constantine came to power in the Western provinces of the Roman Empire as an advocate of religious toleration. Constantine’s advocacy for religious toleration alongside his conversion marks a turning point of the Roman world and drives the spread Christianity. With Diocletian’s abdication in 305 A.D., Constantine’s troops acclaimed him as Caesar. The age of persecution began in 303 A.D. under Diocletian as an effort to rid the Roman Empire of Christians. It wasRead MoreThe Rise Of The Roman Empire863 Words   |  4 Pagesanyone who did not speak Greek. During the decline of the Roman Empire, many barbaric tribes took the opportunity to attack. The migration of barbarians closer to Rome put stress on an already stressed Roman government. The increased tension eventually lead to an outbreak of wars. In 410 Rome was sacked by the Visigoths—lead by Alaric—and was attacked again in 455 but the Vandals (â€Å"Dining With Attila the Hun, 448†). Attacks on the Roman Empire by the Huns did not start until the middle of the 5th centuryRead MoreThe Rise Of The Roman Empire1611 Words   |  7 PagesRome was an empire with extremely high aspirations and expectations from. Its founders chose to steal women from neigh boring villages, in order to grow its population. These aggressive and expansionary ideologies remained within the personalities of every Roman, living inside the great empire 755 years later. And yet despite its vast military presence and growing cities and towns, the Roman Empire and its capital still succumbed to a barbarian takeover. This was widely regarded as one of the greatest

Teen Pregnancy At The County, State, And National Levels...

One community member, Jay Coffelt, is a long-term resident of Kansas City in Jackson County, Missouri. Jay is passionate about researching and awareness of issues like teen pregnancy at the county, state, and national levels. Although not directly involved as a parent of a pregnant teen and not being a teen himself, Mr. Coffelt’s community passion is beneficial in providing insight to the level of community empowerment present in Jackson County, Missouri with regards to a major health issue like teen pregnancy. From a community members’ perspective, it was noted that there seems to be a lack of resources available to pregnant teens and their families as well as a lack of ways community members can be involved in the issue. When asked about his ability to participate in decision making regarding teen pregnancy or to attend forums discussing teen pregnancy, Mr. Coffelt was unsure if those resources were available to him. Another important finding from Mr. Coffelt’s interview was the frequent comparisons he made to an adjacent county in Kansas. Having lived in both counties, Mr. Coffelt was able to recall more available resources, awareness, and guidance for teen health and community members in the adjacent Kansas county compared to Jackson County in Missouri. Through the interview, it was determined that Mr. Coffelt felt an increased level of empowerment. According to Clark, â€Å"...empowered individuals gain new skills and power to influence others and to affect the outcomes ofShow MoreRelatedIncidence of Low Birth Weight Infants in Dougherty County1018 Words   |  4 PagesWindshield Survey The residential areas within the city limits of Dougherty County consist of single lot family duplexes, cluster housing, and town homes. These are located in areas such as the south part of town. Also there is a mix of duplexes and row houses. These homes are part of urban and residential redevelopment projects that are targeting high density residential areas. Residential structures outside the city are mainly single family homes. These homes are located in subdivisions and areRead MoreTeen Pregnancy : The Mom And Child s Well Being, And The Family s Financial Stability814 Words   |  4 Pages Teen Pregnancy Title: Teen Pregnancy Thesis : Teen pregnancy can affect the moms education, the mom and child’s well being, and the family’s financial stability. I : Introduction a : How old was your mom when she got pregnant with you? b : 750,000 girls in America get pregnant each year. c : Teen pregnancy can affect the moms education, the mom and child’s well being, and the family’s financial stability. II : Education a : Only 40% of teen moms graduate High School, andRead MoreUnintended Pregnancy Prevention Essay1269 Words   |  6 Pagesmajority of teenage pregnancies, more than four out of five, are unplanned (Unintended Pregnancy Prevention). Whether teenagers believe in common myths that they cant get pregnant the first time having sex or they truly believe nothing like this could ever happen to them, it happens to approximately seven hundred and fifty thousand teenagers in the United States each year. Although the birth control pill may not completely put an end to teenage pregnancies, it will decrease pregnancy rates among teenagersRead MoreTeen Pregnancy And Teenage Pregnancy Rates940 Words   |  4 Pagesgirls have that highest teenage pregnancy rate compared to other races of girls. Black and Latina girls are more than twice as likely as white or indian girls to become pregnant before they leave adolescence.While dramatic declines among Hispanic and black teens (51 percent and 44 per cent, respectively) have helped reduce gaps, birth rates remain twice as high for these teens nationally compared with white teens .It varies all across the U.S. and even county by county, the team at the Centers for DiseaseRead MoreUnwanted and Unplanned Teen Pregnancy and Sexually Transmitted Illness1544 Words   |  7 PagesUnwanted and Unplanned Teen Pregnancy and Sexually Transmitted Illness (STI) Teen Pregnancy The birth rate among teens in the United States has declined 9% from 2009 to 2010, a historic low among all racial and ethnic groups, with the least being born in 2010; and in 2011 the number of babies born to adolescents aged 15-19 years of age was 329,797 (â€Å"Birth Rates for U.S.†, 2012). Although the decline in unwanted and unplanned teen births is on the rise the United States continues to be among theRead MorePregnancy Rate Of Pregnancy During Adolescence986 Words   |  4 Pagesearly pregnancies. Pregnancy during adolescence is a topic of great interest in all sectors of society, and across the world. Adolescence is a period of life in which the individual acquires the reproductive capacity, psychologically passes from childhood to adulthood. Journal of Adolescent Health conducted research on pregnancy rates, outcomes of birth and abortion among 15-to 19 years old and 10- to 14-year olds in all countries (Gilda, 2015). The hypotheses of this research is that pregn ancy accordsRead MoreReasons For Teen Pregnancy1064 Words   |  5 Pagesstudied. What causes teenagers to engage in sexual activity? Their environment, backgrounds, beliefs, or is another alternate element causing teens to make rash decisions? All these questions must be considered and answered. Luckily, many sources and studies had been inducted to help uncover the root. Teen Pregnancy Statistics (Reasons for Teen Pregnancies, 2009) performed a research and provided insight of explanations for youth’s sex lives. Some ricks factors listed are being a victim of sexualRead MoreTeenage Pregnancy Essay examples1012 Words   |  5 PagesTeenage Pregnancy, Why is this Important Kimberly O. Johnson American Sentinel University Nursing 505: Theoretical Foundations Dr. Ami Bhatt December 30,2012 Teenage Pregnancy: Why is this Important Teen pregnancy is a critical public health issue that affects the health and educational, social and economic future of the mother and child. Teen pregnancy is also a significant factor in numerous other important social issues: welfare dependency, out-of-wedlock birthsRead MoreTeen Pregnancy And The United States2027 Words   |  9 Pagesaddressed is teen pregnancy rates in the United States. We can measure this problem by giving statistics on teen pregnancy related information and by describing the magnitude of the problem. Teen pregnancy exists everywhere in the world but the main focus of this policy memo is going to be that of the United States. Define and Analyze the Problem affected individuals. Teen mothers, their babies, the father, parents of the teen mother and father, and everyone in the United States to be exactRead MoreTeen Pregnancy Essay example1750 Words   |  7 Pageshow teenage girls become pregnant, ways to prevent early pregnancies, the effect that a teen pregnancy have on the people around them, and the downfalls of becoming pregnant, are the ways of teaching to our youth. Teens in this nation today are starting to have sex at younger ages. Studies from the Journal of School Health have shown that kids as young as 12 years of age are starting to engage in sexual activity. We have shows such as â€Å"Teen Mom† and â€Å"16 and pregnant,† which show this connotation

Tupac Shakur a Hip Hop Inspiration - 1236 Words

Tupac Shakur: A Hip-Hop Inspiration Music is a cultural journal that expresses the realities and emotions of life in a poetic way. For the African American culture, music has always been a statement for many controversial topics such as racism, religion, politics, education, crime, and violence. In the 1990’s, Hip-Hop became the newest cultural and artistic voice for the African American population. Genres such as jazz, blues, rock-n-roll, and gospel that once dominated the musical culture of African Americans slipped into the background, and Hip-Hop rose to power and defined a generation. The inspirational and influential Tupac Shakur stormed onto the rap scene in 1991 with an emotional style that changed the rap game forever.†¦show more content†¦The game-changing album went on to sell five million copies. On September 7, 1996, Tupac Amaru Shakur was knocked off the top of the world when he was shot in an apparent drive-by in Las Vegas. Five days later, Tupac was pronounced dead. The controversy surro unding the death of the greatest hip-hop artist of all time remains, to this day, a mystery. The death of Tupac Shakur may still be a mystery, however his influence on hip-hop music is undeniable. Tupac had a talent for exposing social and economical issues that forced society to face the reality that our nation was still far from perfect. He used his success and lyrics as a medium to speak to the world about important economical, political and social injustices. He quickly became a leader among the African American population, transforming into a voice for his nationality and a source of hope when there was nothing left for his people to believe in. Tupac was an inspiration to those suffering from poverty or feeling hopeless about the future; his accomplishments proved that even a kid from the ghetto could rise above the hate and despair, achieve any goal, and make a difference in the world. The death of Tupac Shakur and his influence on hip-hop music is an invaluable part of not just African-American history, but world history. He may have been a criminal that had thug l ife tatooed on his body, but Tupac was a courageous personShow MoreRelatedThe Dispute Between Biggie and Tupac3448 Words   |  14 PagesWest coast and East coast rap stars Tupac Shakur and the Notorious B.I.G. (Jordan, 2011). Taking over the West coast Tupac dominated his side of the map. While the Notorious B.I.G. aka Biggie was representing the East coast with a new style of Rap that streamed thought the city of New York. Fans from coast to coast have recognized the up coming new rap stars and the talent that they have brought to Hip-Hop. Each side of the coast supported either Biggie or Tupac. With the new style of â€Å"Gangsta Rap†Read MoreTupac: The Words of an Inspirational Lyricist Essay1238 Words   |  5 Pagesbelieve Tupac Shakur is an inspirational icon to underprivileged individuals. Tupac Shakur, through his music, poetry, and political views, inspires young disadvantaged people to recognize that there is life for them outside of the ghetto, poverty, drugs an d other adversities. He speaks of poverty, teenage pregnancies, single parenting, self-esteem and an array of other problems that people living in the ghetto are faced with. Despite all of the negative associations with his name, Tupac has managedRead MoreWhat We Learn From Kendrick Lemar s At Pimp A Butterfly1515 Words   |  7 Pagesbecame a â€Å"natural born hustler,† and was greatly influenced by Tupac Shakur. Tupac, argued as the most influential rapper of all time, also inspired Kendrick to share his wisdom to Compton, and encourage his people to work together toward a better future. Through this mentality, work ethic, and his long term goal to help the community, Kendrick broke free from Compton. His albums such as Good Kid, M.A.A.D City launched him into a Hip-Hop icon who Snoop Dogg, The Game, and Dr. Dre proclaimed as theRead MoreTupac Shakur : Multi Platinum Selling Rapper And Rapper Shakur1550 Words   |  7 Pages Tupac Shakur Multi-Platinum selling rapper and actor Tupac Shakur was born on June 16, 1971 and died on September 13, 1996 at the young age of 25. His legacy lives on even 19 years past his death. He continues to be known as one of the best MCs (Master of Ceremonies) of all time. Tupac was born Lesane Parish Crooks, but his mother changed his name by the time he was two. Tupac was named after an Inca Emperor who fought against Spanish Settlers; Shakur was his step father’s last name (TheRead MoreAnalysis Of The Los Angeles Drought On The Nba855 Words   |  4 Pagesunderstand the meaning behind one of Tupac Shakur s most infamous songs, â€Å"Souljahs Revenge.† Tupac Amaru Shakur was a rapper during the early to late 1990s. He was born on June 16th, 1971 in East Harlem, New York. Tupac Shakur was legally born as Lesane Parish Crooks, but would later go on to change his name. Before joining Death Row Records, he started his career as a back up dance for the alternative hip hop group, Digital Underground. EventuallyRead MoreEssay On Tupac1450 Words   |  6 PagesJuliana Quintanilla Gary Greg Music 103 1 August 2017 Tupac Shakur   Ã‚  Ã‚   Tupac Shakur was born in Harlem, New York on June 16, 1971, as Lesane Parish Crooks. Both his mother and father were members of the Black Panthers which was an African American organization formed to improve civil rights. At the age of 13, he   began his acting career in the production, â€Å"Raisin in the Sun† at the Apollo Theater. Tupac’s mother was single mother two and struggled with money, forcing them to move around a lotRead More Bigger Thomas, of Native Son and Tupac Shakur Essay6110 Words   |  25 PagesRichard Wright In 1996, famed rapper and entertainer Tupac Shakur[1] was gunned down in Las Vegas. Journalistic sentiment at the time suggested he deserved the brutal death. The New York Times headline, Rap Performer Who Personified Violence, Dies, suggested Shakur, who was twenty five when he died, deserved his untimely death. - (Pareles, 1996) A product of a fatherless home, raised poor in the ghettos of San Francisco, Shakur, notes Ernest Harding of the L.A. Weekly, lived in a societyRead MoreThe Relationship Between Politics And Hip Hop Music Essay1570 Words   |  7 PagesRap and Rebellion: The Relationship Between Politics and Hip-Hop Music The rap subculture is widely agreed to have been established in the Bronx, New York during the 1970’s. At a time when block parties became popular, especially among African-American youths, hip-hop music was a means of expressing opinions and values and as a new source of communication. At these gatherings, DJs would play percussive breaks from popular songs, often on two turntables to enable them to extend these breaks. ThisRead MoreCultural Influence of Hip Hop Rap Essays1955 Words   |  8 PagesInfluence of Hip Hop Rap Hip hop and rap as a musical genre is a very controversial subject for nearly everyone. Its influences are powerful, both positive and negative. There are many positive influences of hip hop, and a few examples are the breaking down of cultural barriers, the economic impact, and political awareness of pressing and urgent issues. Though there are many positive influences, there are many negative influences as well. Some of the more heated debates of the negative influencesRead MoreThe Legacy Of Hip Hop And Rap, And Its Release Changed The Rap Industry2150 Words   |  9 Pagesalbum, Graduation. Released in September of 2007, Graduation was very well received by critics and the general public alike, but its importance goes much further than simply sounding appealing. Graduation epitomizes the changing landscape of hip-hop and rap, and its release changed the rap industry into what it is today. In the fall of 2002, Kanye West suffered a near-fatal car crash that would change his life forever. The crash left him with a shattered jaw that need to be wired shut, and

Buying a House in Todays Economy free essay sample

The economy can make or break many decisions and on buying a house is a major one to make sure that the economy is in a good state that buying a house is not the right decision. When it comes to the marginal benefit the economy should be at an increase because purchasing the house is not anything that needs to be done but it is something that one wants to do and if the economy is bad then there is not any money available to make the extra purchase of buying a home at that time. Marginal ost in purchasing a house can affect economy by the simple fact of saving money here and there on some things in order to make sure that that they have money available to buy the house. The selling of the products they might have bought will decrease the economies profits. The removal of tax deduction on the mortgage interest affects the housing market because it will cause people to not be buying houses because some see the tax as a cushion for them to be able to get a house that they may not have had a chance to et based on their income. We will write a custom essay sample on Buying a House in Todays Economy or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page If they do not have a feeling of safety in purchasing a home they will not take the chance. The ways that government spends money on other things and the taxes make a decision a bit harder because a person Just wants to make sure that buying the house will not result in not having any money to do anything else. If the government ends up spending money on things not needed then there will not be enough money in banks and other finance resources that can help a person purchase a home.