Market unpredictability has always been the scourge of business (University of Dayton); even at present, it is hard to come up with at least approximately correct forecasts concerning the further changes in a specific market, not to mention the world market in general. While some factors might indicate the changes that will most likely occur to a specific market in the future, it can be still expected that the situation can change rapidly and catch entrepreneurs off guard.
According to the existing research, the changes in the market tendencies and the demands of the population can be predicted with the help of population analysis. Together with the changes in the demographics, the change in demand comes (Arnott and Chaves), which, in turn, shapes the current market and, therefore, defines the changes in the market. That said, however, it would be quite a stretch to consider these changes completely uncontrollable. With the help of population analysis, as well as the current trends, one can forecast the on-coming changes in the market.
Therefore, it must be admitted that considering the market completely unpredictable will be quite a stretch; after all, there are certain financial laws that any market is guided by. Therefore, no market can even get fully out of hand; there will always be a way to predict the outcomes of a certain step. However, it is also necessary to keep in mind that the financial market is extremely susceptible to the changes within the financial and/or economical state of a specific country; therefore, to control the current market and be more or less certain about the future changes, it is necessary to keep the track of not only the financial but also economical and political changes within a specific state.
Reflection Paper: A Memorandum. An Opportunity to Rise Higher
Like any other field, market cannot be constantly progressing without any mistakes being made. It is only natural that market witnesses the periods of rise and downfall. With every single crisis, apart from taking losses, people also learn valuable lessons and understand how to manage complicated situations, thus, stretching their knowledge even further. The events of 9/11 reach the highest spot on the scale of national catastrophe; moreover, they should be considered as the tragedy for the entire humankind to mourn. The following crisis, however, is not only a doubtlessly tragic event in the sphere of economics, but also a valuable lesson for entrepreneurs and researchers to learn (University of Dayton).
It seems that there is a strong link between the political events and he financial state of affairs within a specific market. Indeed, once the economy of a specific state proves efficient, it is expected that the financial position of the given country will go up a few notches. Therefore, when it comes to facing a crisis, it can be expected that the economy will go downhill. However, a financial crisis can also be used as a bitter lesson that has to be learned. Therefore, the crisis of 2008 that followed the terrorist attack on September, 9 can also be viewed as the necessity to take actions and enhance the state economy and learn to “isolate the external shocks” (Kosova and Enz 312).
Therefore, it can be concluded that the financial and economical crisis that was triggered by the events of 9/11 should not have been feared; a natural consequence of the notorious events, the given crisis was only a stage for the world companies in general and American entrepreneurs in particular to deal with.
Works Cited
Arnott, Robert D. and Denis B. Chaves. “Demographic Changes, Financial Markets, and the Economy.” Financial Analysis Journal 68.1 (2012): 23–46. Print.
“RISE.” University of Dayton. 2013.
Kosova, Renata and Cathy Enz. The Terrorist Attacks of 9/11 and the Financial Crisis of 2008: The Impact of External Shocks on U.S. Hotel Performance. Cornell Hospitality Quarterly 53.4 (2012): 308–325. Print.