intro to business: explain in 2 or 3 paragraphs Explore the role and relationship of business with the external environment.
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intro to business: explain in 2 or 3 paragraphs
Explore the role and relationship of business with the external environment.
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Solved in 5 steps
- Why it is important for business enterprises to understand their environment? Explain briefly.Why do demographic shifts and technological developments create both challenges and new opportunities for business? Can managers in business firms control the elements in the external environment, or do they simply have to react to changes that are beyond their control? Give examples that support your conclusion. Describe in general terms how each element of the external environment (economic, technological, socio-cultural, political-legal, global, and business) affects business firms.What defines a good corporate culture ? Describe the link (3 perspectives) between corporate culture and improved economic performance?
- can manages with strong social values be successful manages?“Businesses are built on relationships.” What do you think this statement means? What are implications for managing the external environment?How to respond into this in 100 words? Social trends can significantly impact business in high-tech industries, presenting both opportunities and threats for organizations and their strategic management. Social and technological forces are two of the four categories that comprise the microenvironment, or external environment. Social forces are related to values, beliefs, and culture while technological forces are related to advancements such as automation, artificial intelligence, or digitalization. An example of how social trends present both opportunities and threats to organizations operating in high-tech industries is the rise of electric vehicles (EVs). The growing interest and demand for electronic vehicles present great opportunities in the automotive industry. As more consumers prioritize sustainability and seek to reduce carbon emissions, EVs are becoming a more viable and popular choice. This interest based on the values of sustainability and green transportation has…
- What is the concept of a business environment, and why is it essential for organizations tounderstand it in today's globalized world?Business are built on relationship what do you think this statement means? What are the implications for managing the external 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?
- The governments of several European countries created Airbus, an aerospace rival to Boeing, by subsidizing the cost of R&D investments by that company is an example of: Select one: a. Product Design Change b. Social and Demographic Change c. Technological Change d. Political and Regulatory Change What best describes a startup? Select one: a. It is composed of more than 30 employees b. They are considered as “matured” companies c. They offer products similar to the ones in the market d. It is a business that is still in the early stages of developmentHow can managers build and maintain strong relationships with key stakeholders, such as customers, suppliers, and partners, to drive business success?With your team, choose three established business theories that apply to the current event and market reactions. Recommend alternative courses of action that are consistent with established business theories and conclude