How Does the External Environment Affect Business

question 83

Essay

How does the external environment affect business?

Explain the significance of consumer rights and ethical consumerism in global markets.

Recognize the importance of ethical standards in global business, including human rights and labor practices.

Understand the concept of economic inequality and its manifestations within and between nations.

Identify the contributions of major theorists to the understanding of economic and cultural dimensions in international business.

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Definitions:

Self-Fulfilling Prophecies

Expectations about a situation or individual that lead to behaviors which cause those expectations to come true.

Enrichment

The process of improving the quality or value of something, often related to job roles by adding more meaningful tasks and duties.

Incumbents

Individuals currently holding a specified position or office, especially political positions, who often have a competitive advantage in elections due to their existing role.

Different Skills

Various abilities and competencies that individuals may possess or require across diverse tasks or occupations.