The Great Depression changed and effected Americans and the economy. Millions of Americans lost their jobs and homes. The economy went though a lot of failure of meeting financial obligation in banking and in trading. Because of this Europe and many other nations were set back from many of our abilities to help with their broken economies as well.The unemployment in the Depression was very scary. The Depression started with the market crash of 1929.
The cost minimisation strategy employed by British airways during the recession proved to be an influential choice. It forced BA to be sensitive and cautious about cost and the passengers' volume has been cut down in terms of business and tour travellers. The industry competition is getting fiercer as by the joining of the lower cost airliners which indicates BA has to master the value creation process, or the value chain, with business perspective and cautious. In addition, the cares on the stakeholders in each stage of the business should be paid attention to, or it may leads to the negative impact to BA such as the staff strike took place in January 2007, which gives BA's brand image a big shock. These cuts the company has to make resulted in employee dissatisfaction.
Perhaps the worst economic downturn in the history of the United States occurred from 1930-1939. The Great Depression led to domestic and international crises effecting the poor and wealthy alike. Many financial experts today continue to debate the cause of The Depression, although most agree that several events led to the economic decline. The famous stock market crash on October 29, 1929 is just one of many causes economists believe led to The Great Depression. Known also as Black Tuesday, October 29th left stockholders shattered with recorded losses reaching $40 billion dollars (Kelly, n.d.).
The Great Depression was a severe period of poverty and tragedy. It effected many other countries not just America; especially in Europe, where many countries had not fully recovered from the aftermath of World War I. The cost of World War I weakened the ability of the world to respond to a major crisis. America alone had ten billon dollars of debt from the war. In Germany America’s economic failure contributed to the rise of Adolf Hiltler, so the Stock Market Crash had a domino effect on our country and others.
Effectively, then, almost one out of every two U.S. households directly experienced unemployment or underemployment. For workers' families already facing hard times, the Depression's unemployment woes wreaked unprecedented, catastrophic havoc. The Great Depression was a worldwide economic contraction which brought about economic hardship and in some nations, political instability. In the United States a general banking failure brought about increased government regulation of the financial sector along with the broadening of the social safety net through the introduction of Social Security. Unemployment, which reached 25%, was relieved partially by Public Works (The WPA).
The Great Depression With the economical struggles that you deal with today, do you think that you could have lived through the Great Depression? The Great Depression had a negative affect the relationships of families because of the economical struggles that they had to deal with. The Great Depression affected many families’ marriages, farm life, and the next generation. During the Great Depression there were many difficult situations with food and farm life. One of the causes of the Great Depression was the crash of the stock market.
This is an internal issue- business management; this affects the business in a negative way. This is a weakness to the business because many people lose their job. Reference: http://business.time.com/2014/02/26/qantas-to-cut-5000-jobs-posts-211-million-loss/ Source: Internet Date: February 26,
14 February 2012 Double Taxation Hit Small Business In an economy where employers are laying off employees in unheard of numbers and the unemployment numbers are dancing around records levels a new government debacle is plaguing America’s business; and there seems to be no end in sight. Unemployment benefits and taxes are hitting businesses twice. The majority of unemployment benefits are paid by business. With the increasing number of unemployment claims most states’ benefits funds were exhausted shortly after the start of the recession. Resulting in the asking for Federal funds to help cover benefit payments; because of this many states are having trouble in repaying the interest owed to the Federal government.
The Great Depression was the worst economic disaster in American history. A variety of factors led up to it, including a dangerous amount of stock market speculation and an excessive lending of credit. Other contributing factors were a weak farm economy, lack of government regulation of business, and high tariffs. Unemployment rose as high as twenty-five percent of the workforce and the U.S Gross National Product dropped from $104 billion to $56 billion. This huge depression eventually expanded across the globe, leading to a worldwide economic crisis.
The 1930’s was the time when the culture in America really began to take shape. The Great Depression affected the lives of every American. The lack of government regulation left many people unemployed as well as, working in horrible conditions. Many Americans had become fearful of banks because of the growing economic panic. President Franklin Roosevelt tried to help the banking crises as we all the American people to regain economic strength and civilization.