Archive | Teaching RSS feed for this section

PEST(EL) ~ A Macroeconomic Analysis

21 Aug
PESTEL

One of the more useful business models popular today remains the PEST(EL) model. PEST(EL) is a macroeconomic analysis model often used by businesses to assess the general market conditions of a new or changing environment. The model lays out a set of normally 4-6 market factors relevant to the business and assesses strengths, weaknesses, and changes therein.

First introduced by Francis Aguilar in 1967, the model has undergone several transformations through the years. Therein lies one its greatest strengths – the model is flexible and is easily adapted or modified to suit the particular market needs or situation.

The most basic and standard format is known as PEST representing political, economic, social, and technological factors.

The model lays out an assessment of key issues or opportunities offered by the national economy and industry. Management can review the factors and quickly assess general potential within the industry or quickly discard economies that are not feasible.

The model itself is not in-depth and must be combined with other models (e.g. SWOT, Ansoff, or Five Forces) should the company wish to continue its analysis. It can also be combined with other macroeconomic models for a more reliable assessment. Detailed information regarding market competition, competitive advantages, supply chain improvement potential, etc. is not covered within this model.

Still, it does provide management with a relatively quick overview of the market itself. Markets not even relatively viable are quickly identifiable, saving management both time and money within the research and strategy stages. At the end of the PEST analysis, the management and decision makers should also have a general understanding of the economy and industry — trends, emerging patterns, major issues, potential opportunities. Management can then more easily identify where to focus its attention and research going forward.

As mentioned above, the model can also be adapted to include factors other than the traditional four. Some variations include:

  • PEST(EL) → Political, Economic, Social, Technological, Environmental, Legal
  • PESTLED → Political, Economic, Social, Technological, Ethics, Demographics

Generally the factors are up to you. Carefully assess your company and focus on the key macro factors specifically affecting you and your planned strategy.

Below is a modified PEST analysis based on the Chinese company Misway and their translator SMARK.

Corporate Balance Sheet & Income Statement (Automatically Formulated Worksheet with Metrics)

28 Feb

Hey guys!

A while back I posted a sample of a corporate balance sheet to use for informal work (e.g. in a classroom).  Unfortunately, that version was in Document form, rather than in Excel, so you had to do all the calculations yourself. 

This semester, I taught Introduction to Business, wherein students had to complete sample Balance Sheets and Income Statements as part of the ‘intro to accounting’ and ‘finance’ sections in the course. To help with their projects and give them a leg up in the future, I gave them an Excel version of a balance sheet.  

Balance.pngI’ve now expanded this file to include:

  • Balance Sheet
  • Income Statement
  • Some General Metrics (e.g. Working Capital, Gross Profit Margin, Inventory Turnover).

Links:

Features of the file include:

Continue reading

Image

Be Their Champion!

25 Feb
"Every [student] deserves a champion -- an adult who will never give up on them, who understands the power of connection and insists that they become the best that they can possibly be."

This Makes My Brain Tired 0_0

21 Nov

Studying Business Operations is a bit like those old logic puzzles: If Sarah and Jim are working on Project A and Tom and Valerie are doing Project B, when can Sarah and Rob start on Project C sitting together next to the bride and groom, but not next to Maggie who is not married to Sam?

#Economics 101 ~ Absolute Advantage, Comparative Advantage, and the PPF

1 Oct

*As always, this is not intended to be professional advice. This was written with ESL students in mind, designed for a basic #Economics class. We simply hope that it may be helpful to other students trying to understand the concept.

UNDERSTANDING THE PPF

PPF.jpg

The two lines you see up above are called Product Possibility Frontiers or the PPF.

Situation: Vietnam (越南) and Thailand (泰国) both are given $500 to make Swords (剑) or Bows & Arrows (弓箭). Because their money is limited (有限) (there is an end to the money), both countries need to decide how many they should make. Problem: if they spend money on swords, that means less money for bows and arrows. And if they spend money on bows and arrows, that means less money available for swords. It’s a CHOICE (or in economics — a TRADE-OFF).

They have three choices: 1) Make only Swords. 2) Make only Bows and Arrows. 3) Make some of both.

The green line (Vietnam) shows all the possible combinations (组合) that Vietnam can make if it uses ALL the money ($500). Continue reading

I Love my Darlings!

29 Sep

You know why I love my job? Because of the amazingly sweet and tender-hearted students I meet. I recently posted a ‘Happy Birthday’ to my mom. More than 300 of the students responded with Best wishes and love. 😍💕 Hearts of gold I tell ya!

All Rise for the Monthly Reading of the Cute Boy Band Memorandum!

25 Aug

Someone’s Hot Guys Magazine came in yesterday!
And by someone, I mean the 3 female students sitting in front of me in the auditorium. And by hot guys, I mean a boy band group of some type. Three magazines filled with pictures of the boy band group being all awesome and, according to a credible source (aka Girl #1) ‘wow!’. The girls were so excited, sharing the magazines between them and already folding down faves. Then break struck and the rest of their crew arrived to check it out. Lol, I haven’t seen so much fangirling since the tall French boy came for study abroad and had the girls hanging out in the Bridge Café to watch him. 🤣😂
#TeachingisFun #TheYoungandtheRestless #GoogleyEyes #Fangirls

sailor moon wow GIF

 

Dragon Boat #Zongzi! #Foodie Fun!

18 Jun

I have awesome #students!! Yesterday was the #Chinese national #DragonBoat #Festival where college close down and Everyone eats yummy Food at home. We were forced to have #class instead so some of my darlings brought me #zongzi – bamboo or banana leaf wrapped glutinous #rice triangles. It’sva very popular Traditional dish here in #China. Wasn’t that sweet of them?!?

**They are calling them ‘Social Surplus’ zongzi because we are studying the Surplus triangle in class Lol 😛

12 Jun
OMG this week is confusing 😂
There are about 28 sophomores re-taking economics this semester. The school has changed our schedule for this week 4 times now.
 
There are also about 4 of them failing the class right now. I am setting up one-on-one meetings with them.
 
Problem: They call meetings ‘classes’ — So my conversations go something like this: 
 
Me: Hey darling, we have class at 8:30am now.
 
Student: So I should come to your office then?
 
Me: No, that is still the same. This is class with your friends.
 
Student: Oh. . . .
 
Me: Hey darlin, our class was changed to 7:00pm so we need to rearrange our meeting to another time.
 
Student 2: So. . . . I don’t have class at 7:00.
 
Me: No, you do have class at 7:00. But we don’t have our meeting.
 
Student 2: Oh, I will come to your office at 7:00.
 
Me: 😅 No. . . that’s the class with your friends.
 
Student 2: -_-   
Me: . . . . . Guess what, Class is now moved to 3:30pm. . . . . So we need to move our meeting and the class. 
Student 3: (sobbing face).
 
Me: This is so confusing. . . .
 
If you like this, and want to see some more Teaching Funnies, check out my Facebook Page — Foreign Academics

What is the #Supply (供给) Curve?

8 Jun

What is the #Supply Curve in #Economics?
Supply is the number of products currently available for sale.

In #Microeconomics, we often look at the supply of one company (how many that company has ready for trade).

In #Macroeconomics, we sometimes talk about Aggregate Supply (how many are up for sale in the entire market).

Below is a simple explanation of the Supply Graph and what you need to know!

Let’s say that Mike is buying pencils from Metro (Màidélóng)

We want to know what price should Mike offer?

Suipply Curve.jpg

This picture is very helpful! The light Green Line (supply ) tells us how many pencils Metro will have available for sale at each price.

Situation #1: The price is $3.00, Metro will have 30 pencils available for sale.

Situation #2: The price is $1.00, Metro will have 10 pencils available for sale.

Situation #3: The price is $4.00 and Mike wants 25 pencils. Can Mike buy those 25 from Metro?

Answer: Yes! Mike wants 25 pencils and Metro has 40 pencils. So Mike can buy 25 pencils at Metro for $4.

Situation #4: The price is $4.00 and Mike wants 50 pencils. Can Mike buy 50 pencils from Metro?

Answer: No! Mike wants 50 pencils, but Metro only has 40. So Mike can get 25 pencils or even 40 pencils. But he cannot buy 50 pencils for $4.00 because the store will not have enough.

So we could draw the picture like this:

Supply 2

So what is the Supply Curve?

  • It tells us the MAXIMUM (最大) number of products Metro will have available for sale at each price.
  • It tells us how many products Mike CANNOT buy.
  • It gives us an idea of what price we should choose. For example, if the price is $8.00, Mike can buy 80 pencils! But if the price is $1, he can only buy 5 pencils.

Law of Supply (供给法则) ~ When price increases (), more products will be available for sale.

%d bloggers like this: