There are probably hundreds of different possible solutions to our economies "little" problem. People might come up with ideas as general as "world peace," or as specific as "recycle your newspaper." Maybe some 12 year old in Milwaukee will design a fuel that is both dirt cheap and super efficient. Or maybe the government will truly become Socialist as so many people have said. there are so many possibilities, and so many answers, how can we ever choose the right one.
I think the best way to fix the economy is by splitting it into three groups, and suing a different idea for each. Each can work independently from the others, but together, they can work even better. Each idea is geared to save money for all parties, and will benefit the global fix as well.
The first group is the consumer group and there are quite a few different things they can do to service these economic times. The first idea for them is to be more frugal. It worked in the great depression, and now would be a great time to start pinching pennies where we can. My grandmother still recycles anything she can in so that she can save a little bit of money by not having to purchase the same thing multiple times.
Also recycling things such as cans, paper, and old clothes by putting them in the correct bin. I think MC has done a great job in helping people think about what they're throwing away. Having clearly marked recycling cans/bins in easily accessible locations around the house or in public places, can help the consumer not waste, but recycle.
It's not only good for the environment, but also the consumers pocketbook. By recycling more, producers can put out more "100% recycled" products that will cost less for the companies and the consumers.
Another thing consumers can do to save money on their part is to cut back on unnecessary expenses, such as DVD rentals, that extra cell phone, a new TV, they may even stop their cable TV service. If you really think about it, you can save a ton of money in the long run by cutting unnecessary costs.
Here is an example: Earlier in the semester, I was spending $4.37 on lunch for the three days I came to MC a week. I would get a bag of goldfish, a bottle of Pepsi, and a pack of star bursts. Then I did the math and realized, that I could cut out the goldfish and save $2.50. That would cut my lunch costs in half. I then decided I'd have my mom buy me some boxes of those cracker packs for about $5 each. Those would get me through about 2 weeks per box. And I didn't have to pay for those. Now, i only pay $1.27 for a soda, and the rest I bring from home. I was able to save about $9 a week on lunches alone.
That is just a small example of how consumers can save money in the long run. Maybe they don't need to get that powdered sugar cereal that is never on sale for the kids. Maybe they can find a different service plan for their cell phone and use email as their main mode of communication. Maybe they can sell that extra car that is rarely used, and not have to worry about paying payments, or insurance on it. When examined carefully, the consumer can save a lot of money, making them able to worry less, and save more. It's an all plus for the consumer.
Well what about companies like Dell, and Chuck's hardware, and the plastic factory down the road. How can they optimize their business in these hard economic times? Let me name a few ways that might help save their day (and hard to come by cash).
Recycle, recycle, recycle. Seriously! That can save producers and manufacturers a lot of money. I'm still waiting to see Dell or Lenovo come out with a computer made of completely recycled materials. It would be cheaper, and more durable. Most paper companies use recycled material, and even a lot of tin plants, but what about hardware for the computers or for cars.
Another Idea for them is learn to be efficient in everything they do. Efficiency saves time, money and effort, and it benefits all involved. It can save a company millions of dollars by hiring an efficiency export to help them maximize productivity.
A final idea would be for manufacturers to cut costs. Find out what they have that doesn't need to be spent on. Like those $3000 waiting room couches, or the huge plazma TV's in the lunch room. It's work, not an entertainment center. I think it's utterly important to cut material expenses that don't have to do with the product, before you cut employees.
Consumers, Manufacturers, now what? The sellers or chain stores act as the mediator between the manufacturer and the consumer. So what can they do to boost up sales and gain more customers? Here are a few ideas.
The first thing would be for them to cut unnecessary costs such as the new gaming computer in the back of the store for the employees to use while on break. Cut the things that don't help the stores purpose. Get the obstacles out of the way, and get customer service and satisfaction to be number one on their list.
Customer service is going to be the decider when it comes to returning customers. I know my mom won't go to the Walmart in Germantown because she's never had a good experience customer service wise in there. She now shops at target which has better customer service but the prices are a little more expensive. Walmart could be getting much more money if they really worked hard to keep their workers positive and friendly.
Another example is the Flower Hill Giant. We stopped buying our weekly groceries there because service was deathly slow and customer service was as dull as a rusty nail. We now shop at Bloom and Safeway because the customer service is far better and the service is much faster. I don't understand why companies keep pouring money into more adds, fixtures, cheaper labor, when what they really need to do is step up the customer service. More people will come to their store, and everyone will be happier.
A third idea is making sure they are selling people what is going to benefit them. I've bought so many things from stores like Target, Walmart, K-Mart, etc, that break within a week. Producers and Sellers need to work on customer satisfaction and making sure the customer is getting a product that is going to do what the box says. Get those horrible cheapo brands off the shelves and replace them with low cost brands that actually give you what they say they will.
In closing, I think it is important that I say that I do not believe there is just one thing that will help heal the economy. The economy is like a giant puzzle, and a few little kids just messed up a large section of it. No one little piece of that puzzle is going to fix the entire thing. There are thousands of little pieces that all have to go in a specific place in that puzzle. I brought you a few pieces that I think could help fix that puzzle in small ways.
Right now, the manufacturers can't get money unless they have sellers selling their products. the sellers can't get money unless they have buyers. and the buyers won't buy unless they want to shop at that store or buy that product. I really hope these consumers wise up to what is going on around them and be smart enough to be frugal and learn the techniques that people learned to survive with in the great depression.
Suicide rates are high enough as it is with a recession. I'm tired of hearing about my friends neighbors who killed themselves because they had to foreclose or lost their jobs. They leave behind families, and kids. People need to realize that costs need to be cut, and that they need to save money, so that their kids will have a father or mother in 7 years.
Each of us are individuals, with individual roles, ideas, and hopes. We need to learn to work together, as a big puzzle, so that we can fix ourselves. It's the little things that matter, at the heart of each piece. Money doesn't grow on trees anymore, and everybody wants it. What are you going to do to contribute to the healing of our economy?
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