Posted: February 23rd, 2022
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Learning Goal: I’m working on a business discussion question and need support to help me learn.Responses to postings(1-4) should be specific and assess whether the posting accurately and sufficiently addresses the questions asked in the discussion topic and should incorporate relevant research correctly. Explain your assessment as to why the information is or is not correct and/or complete, providing correct information to enhance the discussion.1.)Shell Oil Company is a United States based company that produces oil and gasoline. Gasoline is one of the most important resources almost everyone in the U.S needs. Gasoline is used for transportation. Almost all transportation vehicles use gasoline in order to run. Gasoline illustrates the law of supply and demand because just recently the supply of gasoline has decreased and the demand has increased, thus making gasoline prices higher. Global environment affects the supply and demand of gasoline. It is the reason the gasoline supply has decreased, and the prices have increased. 2.)For this week’s discussion on a product that demonstrates supply and demand, I chose to focus on automobiles. For the purpose of this discussion, I will focus on the Ford motor company.
Ford Motor Company builds cars and trucks for commercial and consumer usage. The value supplied to the customer is a mode of transportation or the ability to complete the desired task, think hauling something. People buy this product so that can complete that desired task and have a readily available mode of travel. They purchase for convenience, and to allow them to make it to and from work. In terms of demonstrating supply and demand, in the current economic climate, this is an excellent example of supply and demand. This is due to the current chip shortage that is affecting the industry. For instance, in August Ford’s sales declined by 33% from that previous year (Wayland, 2021.) due to the global semiconductor shortage. As a result of this shortage, prices have skyrocketed. The chip shortage has caused Ford to slash production, which in turn means less available stock for dealers to meet demand (Egan, 2021.) Which in turn has caused the prices of both new and used cars to increase, a classic example of the effects of supply and demand.In this particular scenario, the external force affecting supply and demand is the technological environment. The lack of semiconductor chips has caused there to be fewer new vehicles available, thus with fewer available vehicles price has increased. People still demand vehicles, the limited supply means the prices of those available assets will increase. Wayland, M. (2021, September 9). Ford’s U.S. sales decline 33% in August as chip shortage devastates auto industry. CNBC. https://www.cnbc.com/2021/09/02/fords-us-sales-fall-33percent-as-chip-shortage-devastates-auto-industry.htmlEgan, M. (2021, December 17). Semiconductor shortage continues to drive increase in car prices. WRAL TechWire. https://wraltechwire.com/2021/12/17/semiconductor-shortage-continues-to-drive-increase-in-car-prices/ 3.) One of the most important aspects of running a business is ensuring that your supply costs are surpassed by your demand income. A primary example of this is the company Dyna Performance. This company specializes in making and selling premium automotive carbon fiber parts. Carbon fiber parts mainly target car enthusiasts.
To improve performance, car enthusiasts seek into weight reduction within the vehicle itself. By replacing OEM parts to carbon fiber, you reduce the weight on that specific part by approximately 15% In addition to weight reduction, carbon fiber is also used as a cosmetic enhancer. The law of supply and demand is illustrated in multiple realms with carbon fiber parts. Some purchase these car parts to portray a higher quality car on social media realms like Instagram. For example, Dyna Performance offers sponsorships to those car owners that have a strong followers base. This allows Dyna Performance to promote their products through their clients. In this case, demand will always be there since social media is being used as a promoter and others will always find interest in purchasing carbon fiber from them. The supply and demand law is also seen through those car owners that actually use their cars while competing in either races or events where they need to conduct modifications for weight reduction. The demand will always be there as these race car enthusiasts will look at the most detailed aspect of their car to improve it in order to achieve victory amongst others. In summary, when it comes to carbon fiber car parts, demand will always be present as long as car enthusiasts exists, that being for looks and social media, or for actual performance improvement. The external force that affects Dyna Performance and their carbon fiber parts is the competitive environment. The quality of their products against other businesses in the same market is what separates this company from others. Dyna Performance not only built their brand with reputation, but also have clients with the most prestigious domestic vehicles in the market. This keeps them on their toes to always ensure they are producing with the highest quality in the carbon fiber market. Due to their quality, they have excelled amongst other companies and are one of the best companies producing carbon fiber steering wheels mostly for domestics, but also branching out to German and Japanese cars.References:Dyna performance. (n.d.). Retrieved February 20, 2022, from https://www.dynaperformance.com/?gclid=CjwKCAiAx8KQBhAGEiwAD3EiP_7eJexOxld-ZE2YQUuEYRsjLPlyE9vDUe32mBelfY8NPLi-gsFCtBoCQUwQAvD_BwEMotorbiscuitbrielle. (2020, October 21). What does carbon fiber actually do for your car? MotorBiscuit. Retrieved February 20, 2022, from https://www.motorbiscuit.com/what-does-carbon-fiber-actually-do-for-your-car/4.)The product I chose to right about is McAfee antivirus. McAfee is a company that offers an array of products for both households and businesses, including antivirus, VPNs, IPSs, support, etc.
The purpose for these products is to protect the consumers computer network. They offer these products in different packages for different prices. The reason consumers purchase their products is because they are a reputable company and offer products valuable to today’s technological driven environment. Technology is everywhere and will only have a larger presence in society as we move forward with advances in it. This makes information stored on these systems and devices much more of a necessity to protect from those trying to collect with the intention to cause harm.Antivirus protection has become a vital part of a company’s infrastructure, as well as household networks. Where there is a computer there is a need for antivirus protection to prevent personal and confidential information from getting stolen. This is where the law of supply and demand comes in. McAfee is a well-established brand that offers a much-needed product, because they offer a much-needed product there is a high demand for their antivirus software. This amount of demand allows them to increase the price and supply of their software, because they are reputable company people feel safer purchasing their product over other company’s antivirus software. This feeling of trust and security maintains their demand regardless of the higher prices.My personal opinion is the economic environment has the most effect on the balance of supply and demand. The economic environment is the foundation of consumerism, and the five other external forces kind of tie into it. For example, if the economic environment is doing poor, it will cause less consumerism and less consumerism means less demand for unessential products. Less demands means less products sold, this means businesses will cut down on supplies, investments, and lay off workers. More unemployed workers equal less money circulating in the economy causing less supply and demand.McAfee. (n.d.). McAfee Total Protection 2021: Beyond antivirus. McAfee. Retrieved February 20, 2022, from https://www.mcafee.com/consumer/en-us/landing-page/direct/sem/mtp-family/desktop/brand-ad.html?csrc=bing&csrcl2=main-ad&cctype=desktop-brand&ccstype=&ccoe=direct&ccoel2=sem&pkg_id=521&affid=1487&cid=238375&utm_source=bing&utm_medium=paidsearch&utm_campaign=%5BEN-US%5D%5BSearch%5D%5BBrand%5D+McAfee&utm_content=%5Bbrand%5D%5Bexact%5D+mcafee&utm_term=mcafee&msclkid=2fe327a2e66413628bc045b398196f29
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