Discussion 6

Discuss how a change in the environmental and social world of a company will impact the company through its working ate.

Consider the general environment (seven dimensions: demographic, economic, global, political/legal, sociocultural, sustainable physical, and technological) and how it affects an industry that you are interested in.  Which dimensions have the strongest influence on competitors in that industry today?  Which dimension(s) do you think will have the greatest influence on them 20 years from now?  Please explain.

Give an example of how social issues impact a well-established firm. Explain why?

How do demographic shifts in the workforce and consumer markets impact the business environment and what management strategies can be implemented to adapt to these changes?

How do social and cultural factors impact the business environment, and what strategies can businesses adopt to cater to diverse customer preferences and values?

What are some of the most pressing social/cultural and demographic trends that most businesses must face today?

Give an example illustrating how social trends present both opportunities and threats to businesses in high-tech industries?

How are businesses adapting to changing regulations and compliance requirements in various industries?

How can businesses proactively engage with stakeholders, including employees, customers, communities, and government entities, to build positive relationships and address the diverse needs and expectations in the business environment?

What trends or impending changes are likely to take place in the future that could potentially impact your organization? Are there legal issues such as taxes or pending legislative considerations that could change how you do business? What social issues are changing? and, how could such changes negatively impact your business? Are there potential windfalls to be prepared for if certain social trends continue or become major laws?

How do changing consumer preferences and societal trends impact businesses, and how can companies effectively respond to these shifts to remain competitive and relevant in the market?

Are there troubling changes in your business environment such as technologies, laws, and regulations? (do research, support with evidence, provide sources)

What impact does the "graying of America" have on business in terms of their product or service offerings? What products and/or services might be negatively -or positively- affected by this demographic shift?

What are the key trends shaping the business environment today, and how can businesses adapt to stay competitive in the face of ongoing change and disruption?

What are three to five key events that have impacted business practices?

The Challenges Ahead and describe possible ways in which business and society could help to solve or eliminate the problem in the future.

Why is it important to understand external business?

Clearly explain why is it important to fully understand the importance of society to businesses. Cite relevant examples

What are the risks and uncertainties that businesses face in the current business environment, and how can companies mitigate these risks and adapt to changing market conditions?

Select any contemporary issue in business and briefly discuss it

Identify two (2) environmental trends that are instrumental in creating business opportunities? Provide an example of each environmental trend and the types of business opportunities that it might help create.