Brexit and its Economic Impact

This assignment examines the impact of Brexit on the United Kingdom's economy. It analyzes various factors influenced by the decision to leave the European Union, such as employment, economic crises, and trade agreements. The paper highlights both the potential benefits and challenges associated with Brexit, emphasizing the need for favorable policies to enhance liquidity and manage supply and demand effectively.

Academic Skills

TABLE OF CONTENTS
1.0 INTRODUCTION.....................................................................................................................1
2.0 PORTFOLIO SECTION 1.........................................................................................................1
3.0 ....................................................................................................................................................2
REFLECTIVE WRITING...............................................................................................................3
4.0 SECTION 2................................................................................................................................3
Primary Research Methods.........................................................................................................5
CONCLUSION................................................................................................................................5
REFERENCES................................................................................................................................6

1.0 INTRODUCTION
The United Kingdom withdrawal from the European Union was the major issue occurred
in June 2016. It was known with the name of “Brexit”. UK was the first country who applied for
European Economic Community (EEC) in the year of 1961 (Begg and Mushövel, 2016). 30
million people voted for the decision, the term of hard Brexit explains that UK can trade with EU
as non member country as per the regulation of world trade organization. In the term Soft, it can
involve retaining membership with the country. Prime minister Theresa May announced the
decision that government will invoke Article 50 of the Treaty on European Union. Government
and Mr. may were the key persons for this judgement. Present assignment will discuss the upon
the Brexit issue and opportunities related to this issue for the UK in portfolio1. In the portfolio
section 2, report will focus on SWOT analyses of researcher and will illustrate the quantitative
and qualitative data analysis.
2.0 PORTFOLIO SECTION 1
 Brexit was the key issue as it was argued that EU failed to meet with the needs of
economic and due to this since 2008 EU was facing economic problems. As the major
example was that in southern Europe 20% people were unemployed. This was affecting
the income level of the persons thus country was facing financial crises and EU was
unable to handle this issue effectively. Monitory policy was the key issue Euro zone was
controlling over the Britain (The global implications of Brexit. 2016).
 Currency volatility was harming the situation of the country. This will impact positively
on UK as it will be able to formulate its own polices which can increase liquidity in the
country. By this way employment opportunities will get increased in the UK. This will
enhance value of currency of the nation (What Is The Brexit? Key Issues Explained, How
To Get Results And Everything Else You Need To Know. 2016).
 This decision will create great opportunities for the country and there will be growth in
the business performance. Liquidity will get raised so that companies will be able to take
loans and will be able to expand their businesses. More employment opportunities will be
available for the public, small firms will be able to contribute in the development of the
UK. UK will be able to formulate its own fiscal and monitory policies so it can be betteer
results to the nation (paper discussing the United Kingdom’s relationship with Europe
and the impact of ‘Brexit’ on the British economy.. 2016).
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 Possible problems of Brexit can be as that if government of UK fails to formulate
effective monitory policies then it will hamper the trades of the country, thus inefficient
policies will create problem for the population. It will increase inflation rates and value of
currency will get down, imports will be costly which will harm the economic position of
the country.
 As from the topic it can be concluded that Brexit was the big decision, earlier Britain had
to follow policies of Euro but after withdraw it will be have to make effective polices,
apart from this it will have to make new agreements. If UK fails to make effective polices
then it can create problem for the nation (Dhingra and Sampson, 2016). Brexit will
undermine the previous trade agreement, this is an great implication of this. Though it
will impact positive as it will increase liquidity postilion of the nation but EU will have to
make efficient decision after that.
3.0
 Trade is the key issue, UK had to make such trade decisions according to the regulations
of Europe. Europe was unable to handle economic crises, that is why entire nation was
suffering from trade issue. Import and export were too costly. It was the another reason of
this issue (Ottaviano and et.al, 2014).
 It will impact positively as because UK will be able to mange trade well. It will be able to
make effective trade agreement which can raise liquidity in the country. But on other
hand it can create negative impact on this because it will have to make new regulations
and agreement which might be possible will not work. Then in such cases it can harm the
financial value of the currency and can create issue of recession in the UK.
 New rules, trade agreement will create opportunities for the nation. Small business will
get option to expand their business. By this way more employment opportunities will be
there for population (Rich, 2016). It will enhance living standard of the public and will
increase monitory value of the country.
 Wrong agreement can create problem for the country. Apart from this it will require
monitory support and if UK would not get this then it will be problematic for the nation.
 Implications of this issue will be on global economic (Yilmaz and Palmer, 2016). More
than half raw material are exported by British, it has good trade links. Free trade can
effect the overall business of the country thus, it may fluctuate the economic of the
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nation. Favourable trade agreement can support to this situation but in such case exports
will have to face addition costs.
REFLECTIVE WRITING
By carrying out the research I get to know about many things which I was unaware with
it. The United Kingdom withdrawal from the European Union was the big case which impact a
lot globally. While carrying out the report I had improved my analytical skills, I became more
innovative and creative. Which supported me to gain better knowledge about reasons and
consequences of Brexit. I research a lot for this topic and I enhanced my research skills. Earlier I
was unable to get in-depth information about any topic, but this research has toughs me a lot. For
conducting the report I had to discuss with public of UK and Europe and I had to make
coordination with them so that they can tell me their opinions and views on this decision. I
improved my communication skill. I became able to coordinate effective with unknown relevant
sources. While carrying out the research I improved my leadership skills, as I had to motivate my
team so that they can support me to completer this assignment. I learned about usefulness and
benefits of motivation.
As report was on the burning topic of Brexit, which shocked entire world. Sudden
decision has affected economic value of many countries. Apart from this, issue has adversely
impact on the trade of the country. I learned about challenges and reason behind this judgement,
which has increased my knowledge. I got to know about solution, which had increased my
problem solving skills. I conversation with many business persons, those who get affected by this
decision. They told me how they managed their work and re continue it again. By this know I got
to know about immediate solutions. For making it effective, I collected data from several
sources; internet, books, journals etc. These sources have given me in depth knowledge about the
issue, its consequence and benefits. I improved my knowledge about several researching tools,
techniques, methods etc. But I faced several problems, one was the major issue that many people
were not coordinating properly with me. In addition to this, most of the public were not having
their own views which created problem that I was not getting practical impact of Brexit.
4.0 SECTION 2
Swot analysis is the process of understanding the potential strengths and weaknesses of
each of oneself as well as to identify the opportunities and threats that could likely to impact
ones own performance in future. By analysing the potential capabilities of myself as well as the
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loopholes that restrict myself in career development opportunities shall be improvised by my
self. As discussed above, Brexit is a prevailing news wherein Britain has taken a step to leave the
European Union so as to function it effectively without any intervention of such bodies. This can
severely impact and risk several jobs in the country. For this purpose I intent to undertake a
SWOT analysis which will enable me to develop potential skills and capabilities so that I can
enhance my future. The same has been demonstrated underneath;
Strengths:
As I am currently working as a manager in the well known organization of United
Kingdom, my own strengths are that I have a good interpersonal capabilities wherein I can use
my knowledge to judge and find a relative solutions to the problems. In addition to the above, I
have pursued my studies from a well known and famous school and college and availed a first
distinction in every subject. I have a great general knowledge which can be applied to resolve
problems. Along with it, my communication skills is very powerful and strong which further
assist me in making a strong impact on my subordinates. Moreover, I have the capability to
present and write letters and also can help other sin preparing important documents by using my
written skills.
Weaknesses:
There are certain weaknesses in every individual and identifying the same is a crucial part
of career development. I have analysed that I lack confidence and self esteem which is a very
important component needed at professional level. I face troubles and issues in dealing with and
resolving conflicts. I have the ability to step out of such situations where I might loose my anger
and the conversation may uptake into a different form. In addition to the above, I don't have
much working experience as I have not been involved or got the opportunity to work with
experienced personnels.
Opportunities:
I have an opportunity to get HR manager post in the future if I continue working with
efficiency and vigour. Moreover, this will provide a great chance of career development
advancement which will further assist in getting higher positions.
Threats:
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There is a great of receiving a good job as well as chances are their that I can loose my
current job. Furthermore, with the increasing expense it is essential to have a good job so as to
survive in the present world.
Primary Research Methods
Primary research method is a process wherein the information is accumulated on varied
projects on which research is to be done. It is a first hand information which is the most reliable
no matter of how much time and efforts are put in to derive the particular results. There are
several methods of collecting primary data such as interviews, questionnaire, short open survey
and observation. In regards to the Brexit situation, the data's have been collected from open
survey method wherein the views of people are collected on the Brexit. Several persons state that
the Brexit will help the country to develop as it is currently bound under the policies of the
Union. The respective method is selected so as to ascertain real reviews from the people which
cannot be derived in a closed ended questionnaire method (Dhingra and Sampson, 2016).
In addition to the above quantitative data's are derived from the particular research so as
to use for various purposes. This kind of information is most useful as it will assist in further
analysis and calculating other relevant information. This is not possible in the case of the
qualitative data as it provides only descriptive results only (Yilmaz and Palmer, 2016).
CONCLUSION
From the above topical issue of Brexit, it can be concluded that Brexit was the great
decision, it impacts on overall value of the country. Employment, economic crises, trade can get
affected with this big decision. As a member of Euro zone, UK was having benefit of pre
defined monitory and fiscal policies, trade agreement. But after withdrawing from the nation, it
will have to formulate new trade agreements which should be favourable to get optimistic
results. Favourable policies can enhance liquidity of the country, this will support to mage
demand and supply easily (Begg and Mushövel, 2016).
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REFERENCES
Books and Journals
Begg, I. and Mushövel, F., 2016. The economic impact of brexit: jobs, growth and the public
finances.
Dhingra, S. and Sampson, T., 2016. Life after Brexit: what are the UK’s options outside the
European union?.
Ottaviano, G. I. P. and et.al., 2014. Brexit or Fixit? The trade and welfare effects of leaving the
European Union.
Rich, B. R., 2016. What Is at Stake: Gender, Race, Media, or How to Brexit Hollywood. FILM
QUART. 70(1). pp.5-10.
Yilmaz, B. and Palmer, M., 2016. TO WHERE IS BRITAIN RUNNING?: THE REAL NEED
FOR THE BREXIT REFERENDUM.
Online
paper discussing the United Kingdom’s relationship with Europe and the impact of ‘Brexit’ on
the British economy.. 2016. [Online]. Available through:<
https://woodfordfunds.com/economic-impact-brexit-report/>. [Assessed on: 19th
Novemeber 2016].
The global implications of Brexit. 2016. [Online]. Available through:<
https://www.controlrisks.com/en/our-thinking/analysis/the-global-implications-of-
brexit>. [Assessed on: 19th Novemeber 2016 ].
What Is The Brexit? Key Issues Explained, How To Get Results And Everything Else You Need
To Know. 2016. [Online]. Available through:< http://www.ibtimes.com/what-brexit-key-
issues-explained-how-get-results-everything-else-you-need-know-2384999>. [Assessed
on: 19th Novemeber 2016].
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