Describe the Global Business Environment and Each of Its Four

question 45

Essay

Describe the global business environment and each of its four elements.

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Definitions:

Greater Competition

An increase in the number of competitors in a market, which can lead to improvements in quality, innovation, and pricing for consumers.

Outside Distractions

External factors or stimuli that divert attention away from a focal task or goal.

Profit Margins

The percentage of revenue that remains as profit after all expenses have been subtracted.

Company Decisions

Involves choices made by a business entity's leadership that affect its operations, strategies, and future direction.