Evaluate the financial crisis which began in around 2008 based on the perspective of the country in which you plan to offer your product or service (ie, semester project). In other words, this event happened over 10 years ago, but some effects may still be felt today.

Short Paper—Financial Crisis and its impact on your company

Read the entire assignment before starting.
Prepare a short paper (about 1000 words) which has three parts:

1. Evaluate the financial crisis which began in around 2008 based on the perspective of the country in which you plan to offer your product or service (ie, semester project). In other words, this event happened over 10 years ago, but some effects may still be felt today. For example:
a. Which factors helped cause the crisis?
b. What was the impact?
c. To which extent is this still being felt today?

2. Predict how (or whether) this could affect your company today. This could include:
a. How you would get money to start
b. How it could affect your customers’ ability to buy your goods or services
c. Other things—your choice based on the product or service you will provide
d. NOTE: The economic impact of the Covid-19 pandemic is being felt and is still developing. See additional notes (below) on how you can use this instead of the 2008 crisis.

3. Recommend ways your company would address the above. For example, you may have to simplify or reduce your plans. You may have to think of creative ways to finance purchases made by your company’s customers. There could be many other choices. Please try to have at least two suggestions on what you could do.

NOTE: The reason the Covid-19 pandemic is an option is because we are only part way through it, and it is difficult to predict its long-term economic impact. Therefore, you do not have to include it in your evaluation. In comparison, there is a lot of information about impact of the 2008 financial crisis.