BAHASA INGGRIS NIAGA

ADBI4201
1. How governments influence business cycles ?
Answer :
The business cycle is a movement pattern that describes economic conditions (up or
down) regarding the aspects of expansion conditions and the peak conditions of a
movement in a country's business economic activity which will have a positive effect
on the performance of a company. In general, the business cycle consists of four stages,
namely prosperity (the peak of the cycle), decline (economic recession), economic
troughs, and recovery (expansion). The government can influence the business cycle
by issuing new economic policies. For example, currently Indonesia is experiencing an
economic downturn due to the Covid-19 Pandemic which was marked by a slowdown
in economic growth. Under these conditions, fiscal expansion is one of the things that
can be done to boost the Indonesian economy. Fiscal policy can be used to stabilize
fluctuations in economic growth. When the economy is in recession, expansionary
fiscal policy can stimulate demand for goods and services and promote economic
growth. Conversely, fiscal policy can help cool an overheated economy through fiscal
tightening. Fiscal policy is said to be ideal and effective if it is able to equalize or offset
the effects of the economic cycle. Fiscal policy with this characteristic is known as
countercyclical fiscal policy, which is characterized by an increase in government
spending during a recession and a decrease in spending when the economy is strong.
Another form of fiscal policy related to the business cycle is procyclical fiscal policy,
which is characterized by an increase in government spending when the economy is
strong and spending decreases during a recession. Thus, the right fiscal policy to reduce
the business cycle is a counter cyclical fiscal policy which in principle presents the
behavior of fiscal policy in dealing with fluctuations in output or economic cycles.

2. What does first mover advantage mean in business ?

Answer :
What is meant by first mover advantage in business is the first company to market a
product or service. Companies build demand and markets, before other companies
enter. First mover profit can also be interpreted as the profit a company gets from being
the first to offer a product or service to the market. First movers have the opportunity
to reap the greatest long-term benefits from product introduction. First movers have a
large competitive advantage over late entry competitors and can offer a number of
advantages, including:
-Provides the ability to set industry standards.
-Prevent competition by controlling scarce resources
-Developing a reputation for leadership early on enables the company
-gain market share with limited competition.
-Companies have the opportunity to build brand recognition and loyalty from
customers.
-Strengthen close cooperative relationships with stakeholders
-Have longer to build a wide distribution channel.
3. Why human capital is important for a country ?
Answer :
Human Capital is important for a country because in human capital all knowledge, skills
and creativity are manifested in work abilities that can be used to produce professional
services and economic value. Human resources place human resources at a higher level
than just a resource, but a valuable asset that is valuable and beneficial to an
organization or company. Human Capital is also an investment in humans in the form
of expertise, norms and health obtained from the process of education, training and
health services. Human capital affects the economy of a region or country through
increasing the productivity of the economy's labor and technology improvements.
Human resources play a very strategic role in supporting the competitiveness of a
country or region. Foreign investment into Southeast Asia leads to assimilation of new
technologies and simultaneously increases productivity. Human capital has a positive
influence on economic growth. By using an educational approach as one of the factors
forming human capital. Increasing public awareness of the importance of education as
an investment in human resources, for example, must be pursued. On the other hand,
the Government must also continue to strive to improve the quality of education
services, especially in an effort to improve the quality and productivity of the
workforce. Human capital plays an important role in economic growth and
development as a production factor other than natural resources. So that the better the
quality of humans will have an impact on the higher the efficiency and productivity of
a country so that it can spur economic growth and development.

4. What is an example of a laissez faire policy ?

Answer :
Laissez-faire is a French phrase meaning "so be it." Laissez-faire became a synonym
for a strict free market economy during the early and mid-19th century. In general, this
term is understood as an economic doctrine that does not want government interference
in the economy. An example of a laissez faire policy is that basically the leader of the
Laissez Faire is a leader who gives great freedom to everyone he leads, both in doing
work and in making important decisions. Thus, everyone in the organization can work
in a way that they see fit without pressure or restrictions from the leader. In some cases,
leaders will not be involved in determining the tasks to be carried out by their
subordinates, meaning that they can freely choose the tasks to be carried out. Even when
commenting, the leader never intended to organize or judge his subordinates. Where
Handoko and Reksohadiprodjo (1997) describe three characteristics of leaders with the
Laissez Faire leadership style, namely; Leaders allow their subordinates to govern
themselves, Leaders only define general policies and goals, and Subordinates can make
decisions that are relevant to achieving goals in any way they see fit. With a leadership
attitude like this, chaos is no longer a rare thing in the organization being led. Here a
true leader cannot be said to actually lead the organization, even every achievement that
is obtained is never separated from the competent people under him. As an employee,
of course, you must be able to adjust your salary to suit all your needs. For example,
Singapore as a developed country still needs other countries in terms of importing raw
materials and a place to market its industrial products.