Taking care of the environment would have been an inbuilt way of life for us as individuals and as a nation. The Mau forest has lost a quarter of its trees to deforestation. Littering is a bad behaviour that is being passed down from generation to generation. Our rivers are flowing with oil, sewage and industrial waste.
Global Factors and Strategy Businesses are affected by an external environment as much as they are affected by the competitors. Global factors influencing business are legal, political, social, technological and economic.
Understanding of these factors is important while developing a business strategy. Social factors - These factors are related to changes in social structures. These factors provide insights into behaviour, tastes, and lifestyles patterns of a population.
Buying patterns are greatly influenced by the changes in the structure of the population, and in consumer lifestyles. Age, gender, etc all determine the buying patterns and understanding of such changes is critical for developing strategies which are in line with the market situations.
In a global environment it is important that business strategies are designed keeping in mind the social and cultural differences that vary from country to country.
Consumer religion, language, lifestyle patterns are all important information for successful business management. Legal factors - These factors that influence business strategies are related to changes in government laws and regulations. For a successful business operation it is important that the businesses consider the legal issues involved in a particular situation and should have the capability to anticipate ways in which changes in laws will affect the way they must behave.
Laws keep changing over a period of time. Economic factors - These factors involve changes in the global economy. A rise in living standards would ultimately imply an increase in demand for products thereby, providing greater opportunities for businesses to make profits.
An economy witnesses fluctuations in economic activities.
This would imply that in case of a rise in economic activity the demand of the product will increase and hence the price will increase. In case of reduction in demand the prices will go down. Business strategies should be developed keeping in mind these fluctuations.
Other economic changes that affect business include changes in the interest rate, wage rates, and the rate of inflation. Incase of low interest rates and increase in demand Businesses will be encouraged to expand and take risks. Therefore, business strategies should have room for such fluctuations.
Political factors - This refers to the changes in government and government policies. Political factors greatly influence the operation of business. This has gained significant importance off late. The political arena has a huge influence upon the regulation of businesses, and the spending power of consumers and other businesses.
Technological factors - These factors greatly influence business strategies as they provide opportunities for businesses to adopt new innovations, and inventions.
This helps the business to reduce costs and develop new products. With the advent of modern communication technologies, technological factors have gained great impetus in the business arena.Since the early s, however, the rapidly expanding empirical and theoretical literature on the Environmental Kuznets Curve (EKC) has suggested that the relationship between economic growth and the environment could be positive and hence growth is a prerequisite for environmental .
Businesses are affected by an external environment as much as they are affected by the competitors. Global factors influencing business are legal, political, social, technological and economic. Understanding of these factors is important while developing a business strategy.
It aims to strike a balance between conservation issues and the other spheres of the society – political, economic, social and cultural – hence locating environmental problems within the.
This essay covers the world crisis of overfishing and its own effects on the global economic and environment. Article has found that fisheries are facing uncommon crisis credited to overfishing and overfishing is further threaten to the future sustainability of fisheries, the livelihoods of coastal fisheries and ecosystems.
Managing Environmental Issues Essay Managing Environmental Issues SCI/ June 16, Colney and Pitts is a pharmaceutical company that is located in California. Colney and Pitts are planning to set up a manufacturing plant near the Aberdares mountain range in the eastern highlands of Kenya.
Economic analysis plays a central role in informing EPA decision-making. The Agency’s work in this area covers a wide range of topics, focusing on evaluating the economic costs, benefits and impacts of proposed environmental regulations and policies on the national economy.