The political environment includes all laws, government agencies, and lobbying groups that influence or restrict individuals or organizations in their society. The political environment also is about how changes in government policy might affect the business. The legal environment is about how legislation and related regulations in society affect the business, i.e. changes in employment laws on working hours.
The socio-cultural environment consists of how consumers, households and communities behave and their beliefs. For instance, changes in attitude towards health, or a greater number of pensioners in a population. The socio-cultural environment will be language, aesthetics, education, religion, attitudes, values, social groups & organizations, and business custom practices. You will now begin to compare the social and cultural environments of the domestic and global cultures of your chosen “Worst” company. Continue to Lesson 6 for more information and details.
The economic environment comprises of economic factors, such as employment, income, inflation, interest rates, productivity, and wealth, which influence the buying behavior of consumers and firms. This week you will analyze the economic environment of both your domestic and global countries for your chosen “Worst” company. Continue to Lesson 7 for more information and details.
LO – 5 – Given a chosen company, the student will detect and evaluate the political and legal limitations and barriers for the company using both the Domestic and Global environments.
LO – 6 – Given a chosen company, the student will examine the effect of socio-cultural environmental factors that affect the company within its Domestic and Global environments
LO – 7 – Given two economic theories, the student will compare and contrast each theory using a chosen company’s Domestic and Global environments
PROMPT:1. Identify and describe the political and legal environments/structures of the home and global.2. Identify the socio-culture of the domestic and global environments (the countries) in opposing culture cultures using Hofstede’s clusters(s) the two countries fit
a. Identify the socio-culture parts of each country (you will need to examine these with the aid of Geert Hofstede’s 6 dimensions)b. How do these socio-cultural aspects of each country differc. What are the similarities
3. Using your chosen company’s domestic environment identify its economic environment. Compare and contrast the economic environment using Rostow and Galbraith along with your selected global environment.
• Organize your paper using topic headings (APA format)• Research requirement: minimum 2 sources with at least one source from your required readings.• Minimum page requirement: 4 pages in APA format not to exceed 6 pages
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