individual essay lê nguyễn danh cơ AEN T122WSB 6 21000516

WESTERN SYDNEY UNIVERSITY Individual essay – Common problems that businesses often face LÊ NGUYỄN DANH CƠ AEN-T122WSB-6 SCHOOL OF ASSIGNMENT COVER SHEET STUDENT DETAILS Student name: Lê Nguyễn Danh Cơ Student ID number: 21000516 UNIT AND TUTORIAL DETAILS Unit name: Academic English Tutorial group: Academic English Lecturer or Tutor name: Gabriel Ryan Unit number: Tutorial day and time: AEN-T122WSB-6 Monday 12:00 – 15:15 Thursday 8:00 – 11:15 ASSIGNMENT DETAILS Title: Individual essay – Common problems that businesses often face Length Due Date : 1200-1500 date: 11/4/2022 submitted: 11/4/2022 Home campus (where you are enrolled): Western Sydney University Vietnam DECLARATION  I hold a copy of this assignment if the original is lost or damaged  I hereby certify that no part of this assignment or product has been copied from any other student’s work or from any other source except where due acknowledgement is made in the assignment  I hereby certify that no part of this assignment or product has been submitted by me in another (previous or current) assessment, except where appropriately referenced, and with prior permission from the Lecturer / Tutor / Unit Coordinator for this unit   No part of the assignment/product has been written/produced for me by any other person except where collaboration has been authorised by the Lecturer / Tutor /Unit Coordinator concerned I am aware that this work will be reproduced and submitted to plagiarism detection software programs for the purpose of detecting possible plagiarism (which may retain a copy on its database for future plagiarism checking) Student’s signature: Danh Cơ Note: An examiner or lecturer / tutor has the right to not mark this assignment if the above declaration has not been signed ARO 00380 08/15 These days, economics plays an important role in the development of almost all countries It is a stepping stone to raise the value and quality of other areas, especially business However, although economics is considered a key strength, its disadvantages still exist and this always makes enterprises find an appropriate solution First and foremost, maintaining reputation is a common reason that many businesses often face In general, reputation refers to people's shared thoughts or opinions about something It might be a film, a picture, or the current state of affairs Developing a positive reputation takes time and work, and might take months or even years On the other side, a company's reputation can be destroyed in a moment, and it takes a long time to recover (Kiely, 2022) The consulting industry is built on a foundation of trust between professionals and clients When a client has never worked with a certain firm before, the company's strong reputation can serve as an alternative for prior firsthand experience A negative reputation, on the other hand, will be a significant impediment to a consulting firm's long-term market success As a result, establishing and maintaining a positive reputation is critical for consulting firms Nonetheless, reputation is a hazy concept that needs the use of a measurement tool to pinpoint a company's current position For instance, Mahmudah (2021) shows that the mining sector, particularly coal mining, has long been notorious for its severe environmental impact The adoption of good mining facts by a number of mining industries appears to have not affect this viewpoint The poor public perception of this industry has a tremendous impact on its reputation It will affect one's reputation and ability to secure a social license to operate Most enterprises develop their brand by turning it into a campaign The way, what, where, when, and to whom owners aim to communicate and deliver their brand messaging is known as brand strategy The location of advertisements is an element of the brand strategy Their brand strategy also includes their distribution channels People's visual and vocal communications are also a portion of their brand strategy (Williams, 2019) Williams (2019) also states that brand equity's additional worth is typically expressed in terms of perceived quality or emotional attachment Take Nike for an example, associates its products with famous athletes in the hopes that customers will transfer their emotional connection to the product from the athlete For Nike, it's not just about the attributes of the sneaker One of the most valuable outcomes of performing appropriately and doing the appropriate things in the corporate realm is a good reputation With business reputation becoming acknowledged as a critical competitive asset, some academics have compiled a list of prospective and experimentally demonstrated benefits, including increased financial earnings, more involved consumers, motivated staff, and better workplaces (Chun et al., 2019) Another difficult problem that businesses often cope with is financial management Financial troubles of businesses are becoming increasingly common in today's highly competitive living environment Market contributors start to an in-depth study into the prediction of business troubles while keeping an eye on the financial status of businesses Azhou (2021) says that financial distress theory is an important component of current capital structure theory since it is the core research topic of enterprise financial management In the life of a firm, a lack of sufficient liquidity to satisfy current commitments as they become due frequently causes problems, which, as often as not, culminating in the company's failure Poor financial planning is a common cause of small failed business ventures at various phases of the business's life cycle Undercapitalization is one planning flaw that leads to early failure Several errors made during the early phases of finance planning and implementation result in undercapitalization Cash flow issues are a prevalent indicator of this problem in enterprises For example, Botswana found diamonds and this led to a middle-income developing nation in 1966 though this country was one of the poorest countries in the world Nevertheless, economic diversification, job creation, income production, and poverty alleviation are still issues in the country The development of innovation and entrepreneurial development has been the primary technique for achieving these objectives Small company failure is expanding at an alarming rate, despite strenuous attempts to foster the growth of small and medium businesses (Temtime and Pansiri, 2006) A common method that businesses use to turn around capital is to maintain a capital cushion Maintaining money in a bank to assist the company in managing the peaks and troughs of cash flow periods These funds are frequently raised through an equity offering or long-term venture loan Financing costs tend to rise in tandem with company growth, necessitating a larger cash buffer Finally, uncertainty about the future is also seen as a concern for businesses This means force majeure events in the near future and when they explode, they will affect almost all fields, especially the economy These situations often bring serious risks or worse, there are no plans to prevent them Obviously, some future variants may be at least partially resistant to vaccines, and the world may be forced to accept COVID-19 as an endemic disease as a fact of life But in the meantime, with the Omicron variant still spreading and health systems once again overwhelmed, many countries have tightened restrictions on travel and public gatherings, even to the level of reimposition of blockade measures Other variations may have a similar effect This means that reopening the economy continues to be an intermittent process On the other hand, López (2018) reports that another body of research looks into the political and economic processes at play Connected cycles, on the other hand, come from endogenous economic shocks impacting political leadership or political economy shocks created by partisan politicians seeking to boost their chances of reelection The world is currently dealing with a dramatic surge in energy costs and a contracting commodity market in general, contributing to the global supply disruptions created by COVID-19 Inflation expectations are rising in the medium and long run The bond market, as well as voters, are clamoring for action A rate increase is unavoidable (Tooze, 2022) Recently, the hot topic of discussion that is regularly updated is the war conflict between Russia and Ukraine EIU (2022) provides that The confrontation involving Russia and Ukraine will have three major consequences for the global economy: financial sanctions, commodity price volatility, and supplychain disruptions The accompanying analysis includes projections for each of these regions as well as a summary of the current EIU perspectives on the impact of the Ukrainian conflict on global inflation expectations Global inflation will be fueled by higher commodity prices this year and potentially in 2023 The EIU had predicted worldwide inflation of roughly 6% in the year, but given the massive rises in commodity prices, that figure is now projected to be exceeded The beneficial impact of higher commodity prices for manufacturers will be negated by rising inflation (EIU, 2022) The common problems that enterprises often face above have existed for a long time They require innovation and creativity from investors in order to stand their business in the market Although there are difficulties, but thanks to technological advancements, the issues are minimized in order to achieve the highest efficiency REFERENCES Kiely, T., 2022 Business Reputation Management: Maintain a Good Reputation [online] Meltwater Available at: [Accessed 11 April 2022] Chun, R., Argandoña, A., Choirat, C., & Siegel, D S (2019) Corporate reputation: Being good and looking good Business & Society, 58(6), 1132–1142 https://doi.org/10.1177/0007650319826520 Temtime, J., & Pansiri, Z T (n.d.) Proactive marketing and financial management for small and Retrieved April 11, 2022, from https://journals.co.za/doi/pdf/10.10520/AJA17291070_45 López, E R (n.d.) Power in economics: Growth, inequality and - uchile.cl Retrieved April 11, 2022, from https://econ.uchile.cl/uploads/publicacion/77bcbb4de79c198962722621dec5a2b956a9bcdc.pd f Global economic implications of the russia-ukraine war Economist Intelligence Unit (2022, March 4) Retrieved April 11, 2022, from https://www.eiu.com/n/global-economicimplications-of-the-russia-ukraine-war/ Williams, J (2018, March 7) Business - the basics of branding Entrepreneur Retrieved April 11, 2022, from https://www.entrepreneur.com/article/77408 Mahmudah, Z (2021, April 16) Employees as public relations agents: Optimizing the role of PR in maintaining reputation of mining industry SSRN Retrieved April 11, 2022, from https://deliverypdf.ssrn.com/delivery.php? ID=98906500900511209002909412011611412202802100101907405611807508808602909812100 01041230201210381200490121140641120940200181070280250420210400330741071260950640 74080089059002063007024024089101108107074069096083117104101103071007110067026118 113024094025018 Azhou, Y (2021, December 19) Dynamic analysis of the prediction of financial difficulties in Enterprise Financial Management SPIE Digital Library Retrieved April 11, 2022, from https://www.spiedigitallibrary.org/conference-proceedings-of-spie/12128/1212815/Dynamicanalysis-of-the-prediction-of-financial-difficulties-in-enterprise/10.1117/12.2625006.short? SSO=1 Tooze, A (2022, April 5) Ukraine's war has already changed the world's economy Foreign Policy Retrieved April 11, 2022, from https://foreignpolicy.com/2022/04/05/ukraine-russia-warworld-economy/ ... https://deliverypdf.ssrn.com/delivery.php? ID=989 065 0090051120900290941201 161 141220280210010190740 561 180750880 860 2909812100 0104123020121038120049012114 064 1120940200181070280250420210400330741071 260 95 064 0 74080089059002 063 007024024089101108107074 069 0 960 83117104101103071007110 067 0 261 18...SCHOOL OF ASSIGNMENT COVER SHEET STUDENT DETAILS Student name: Lê Nguyễn Danh Cơ Student ID number: 210005 16 UNIT AND TUTORIAL DETAILS Unit name: Academic English Tutorial group: Academic... Gabriel Ryan Unit number: Tutorial day and time: AEN- T122WSB- 6 Monday 12:00 – 15:15 Thursday 8:00 – 11:15 ASSIGNMENT DETAILS Title: Individual essay – Common problems that businesses often face