Course Objectives:
Students will become familiar with business theories and approaches relating to various business environments (Domestic, Global, Technological, Political-Legal, Socio-Cultural, and Economic).
Students will evaluate the business environments and practices of selected companies.
Students will evaluate the business environments of a company identified as a worst company to learn why it is not successful.
Students will apply successful company strategies and business theory to recommend a successful strategy for the worst company.
The Political-Legal 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. Lesson 5 covers the Political-Legal Environment.
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 includes 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. Lesson 6 covers the Socio-Cultural Environment.
The Economic Environment consists of economic factors such as employment, income, inflation, interest rates, productivity, and wealth, which influence the buying behavior of consumers and firms. You will analyze the economic environment of both your domestic and global countries for your worst company. Lesson 7 covers the Economic Environment.
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:
For the global analysis use the same two foreign countries you identified/compared in the Week 4 Assignment (NOT Mexico or Canada):
1. Identify and describe the Political-Legal Environments of your company domestically and globally.
2. Identify the Socio-Cultural Environment of your company domestically and globally, including analysis of opposing cultures domestic vs foreign using Hofstede’s clusters(s). Include:
a. Identify the socio-cultural 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 differ?
c. What are the similarities?
3. Using your worst company’s domestic environment identify its Economic Environment. Compare and contrast the Domestic Economic Environment with the company’s Global Economic Environment, using the 2 foreign countries you selected, applying Rostow and Galbraith.
FURTHER INSTRUCTIONS:
• Organize your paper using topic headings (APA7 format)
• Research requirement: minimum 2 sources with at least one source from your required readings.
• Minimum page requirement: 4 pages in APA7 format not to exceed 6 pages.
• For further guidance please review the grading rubric for this assignment for guidance in preparing your essay
Grading Rubric:
A rubric is provided for your convenience that details how this assignment will be graded. Please review it carefully prior to submitting your assignment. If the grading rubric does not auto-populate here, please see it by visiting the Assignment details under Course Tools.
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