Business EconomicsWrite an essay reflecting on a variety of economic concepts/theories that impact an organisation: Rio Tinto. International Mining Company.Business EconomicsWrite an essay reflecting on a variety of economic concepts/theories that impact an organisation RIO TINTO (International Mining Co.).Economic Theory:Supply and DemandElasticityEconomic Efficiency and Market FailureProfit Maximising and Competitive MarketMonopoly and ACCC (Australian Consumer Competition Committee)Monopolistic CompetitionMacro Economics an introductionAggregate Demand and Aggregate SupplyFiscal PolicyWord Count:2500 (including 400 words in Executive Summary)THE ASSIGNMENT:1. Executive SummaryThe name and brief background of company.The economic concepts and theories that form the basis of the critical economic analysis of past and current performances of the company.The key strategic issue the company faces and options to address the issue.The conclusion of the analysis.Propose recommendation/s to address the key strategic issue and implementation measure.400 words(6 marks)2. Background information on company.Provide companies name and background details.Integrate relevant economic terminology and concepts to set the scene for following analysis.Sets the scene for following analysis.(3 marks)3. Critical Analysis using economic concepts.Uses economic theory (incorporating graphs/data/relevant calculations) to critically analyse past performance of the firm and the market it operated in.Uses economic theory (incorporating graphs and relevant calculations) to critically analyse current performance of the firm and the current market it operates in.Relates to the market the company operates in and incorporates internal and external analysis findings as relevant.(12 marks)4. Reflections and key strategic issue.Based on the critical analysis reflect on what was learnt what was confirmed and what remains puzzling.The key strategic issue the firm faces now or in the near future is clearly stated. It relates to and emerges from the critical analysis.(8 marks)5. Analysis of options to address key strategic issues.Clearly proposes 2 options (clear & different) that could be implemented to address the key strategic issue using economic theory.Evaluate both options outlining the benefits to the company (incorporating graphs/data/relevant calculations).Assesses the assumptions made when evaluating both options. Evaluate the impacts of the firm of implementation either option should any assumptions prove to be incorrect.(12 marks)6. Conclusion and recommendation/s.Draws a conclusion from the analysis.Provides clear insightful recommendation/s to address the identified key strategic issue.Outlines important practical implementation measures.(4 marks)
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