I work in the Entertainment and production industry
I work in the Entertainment and production industry and more specifically in Lighting and Theatrical Production. I have encountered the role of the economies that a company establishes itself in as my employer has particularly set up operations in both Germany and the United Kingdom, which are both developed nations.
My area of focus has been on determining the growth of both nations, and this is depicted in the price levels as it relates to my company. According to the proposition in the course, developed nations show stability in their growth paths and illustrated by parameters such as per capita modeling on the cross measures of technology, capital, and labor. Developed nations are more predictable across the variables which are illustrated above as compared to developing nations. I recently reviewed the data on my company’s employees in the two nations depicted above. I discovered that the income for employees in the entertainment industry has followed a specific path, and while it has positively increased, it is projectable or easily foreseeable. Additionally, developed nations may have wide disparities in households’ incomes and still be predictable. In this regard, the average wage for lighting technicians is ten euros while the same job post could earn a lighting technician an average of thirty-one euros per hour. Despite both nations being developed, they have different salary regimes, and this is tied to several factors. For instance, the professionals in the United Kingdom are subject to fewer taxes as compared with their Germany counterparts with the former also having increased benefits as compared to the Germans.
It is worth the mention that despite developed nations showing stability, in economic variables, developing nations are still considered better fits, especially for risk versed individuals or companies. These are companies with a high “risk appetite”. There do not exist numerous regulations in such nations thus, companies carve out their niche and determine price levels. Companies may subsequently be more profitable in developing nations if they have the right strategy.