Macalibo, Kiara Lallie G.

BSBA - FM

Writing Exercise 1

A. Business Economics, Financial Management, Human Resource Management, and Marketing

Management are among the specialty majors available in the Bachelor of Science in Business

Administration degree. The program focuses on the interconnection of many businesses’

functional areas. It provides students with technical and practical skills to help them make sound

business decisions. The Bachelor of Science in Business Administration with a Major in

Financial Management is a four-year degree program that provides students with a solid

foundation in theories, principles, and concepts that equip them with relevant technical and

analytical skills required in financial decision-making, awareness of a dynamic domestic and

global business environment, and awareness of their role in nation-building. This degree will

teach us about financial institutions and how they make money; how to establish prices for goods

and services; how to manage your assets and liabilities; and the various government rules that

have a direct impact on businesses. I can picture myself as a future professional working in my

desired organization to use and serve all the lessons I've learned, develop, and learn new skills,

and achieve more than I could have dreamed. To get there, I hope to learn even more about

my abilities and experiences from the people I'm going with. As well as to become a better

professional who's capable of seeking more opportunities in this field. I have several goals and

objectives that I hope to accomplish by the time I reach my exact target age, such as having my

savings, giving back to my parents, spoiling my family, and having an investment.

B. In this paragraph, I will discuss inflation. The country has seen growing pricing for goods and

services in recent months. Every country's government has specific tools in place to manage

inflation. If a country's inflation rate is excessively high, it may have slow economic growth.

Prices for products and services rise steadily because of inflation. Inflation is a monetary

phenomenon in which prices gradually grow over time. Rapid inflation destabilizes the economy

and can cause people to lose their wealth, especially if they have invested it in something

unproductive like bonds. Inflation affects everyone and everything, thus there is no one sector or

type of individual that is immune to it. To fight high inflation, the entire government must work

together. Fiscal consolidation through budget reduction and increased tax collections are

required. While the BSP employs monetary policy to keep inflation at rest while causing as little

job loss as possible, the government must practice budgetary prudence to reduce inflationary

pressures. First and foremost, government deficits and debts must be reduced. Rationalizing the

government budget will not only eliminate wasteful spending but will also help to minimize the

budget deficit. Furthermore, revenue initiatives must be stepped up through tax policy and

administrative improvements. Raising the excise tax on non-essential items will create revenue

and improve public health while imposing a corporate income tax or digital service tax on non-

resident foreign technology companies will produce additional revenue from the digital

economy. Fiscal consolidation aimed at raising taxes and expenditures to benefit the wealthy can

help reduce inflation. There may be job losses when the economy slows, but inflation is already

harming the poor and vulnerable. Thus, maintaining targeted subsidies can help their hardships

while the government addresses high inflation.