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- Describe five global trends that will have the greatest impact on future business.Differentiate local or domestic business from international business. Compare the way of doing business in the United States and China from the perspective of the economic, political, and judicial systems. Explain the different global systems.Explain globalization in business and the forces causing globalization. Use relevant examples to illustrate your answer
- Forces Affecting Business in Today's Dynamic Environment The business environment consists of several factors that affect a business's ability to be successful and operate profitably. Creating the right business environment is the foundation for social benefits of all kinds. Businesses operate in a dynamic environment that consists of economic, technological, competitive, social, and global factors. Businesses normally can't control their environment or the changes that occur, but they need to monitor it carefully and do what they can to adapt to the changes. Read the descriptions of each company, then match it with the appropriate environmental force. 1 Global Social 3 Technological 4 Economic and legal 5 CompetitiveBusiness enterprises participate in the global marketplace in different ways, such as importing, exporting and direct investment. Discuss the ways in which firms participate in global markets.Regardless of the type or size of a business, there is a close and continuous interactionbetween the business and its environment. Consequently, each business firm has toexist, survive and grow in relation to the various forces of the business environment.Select and approach any business entity of your choice in Africa and critically identify andanalyse with examples both the internal and external business environment forces.