BUSINESS ADMINISTRATION
BUSINESS ENVIRONMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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cultural and social
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geographic
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economic
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political and legal
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Detailed explanation-1: -Raw material availability, supply chain reliability, labor supply, wages, worker expectations, government regulations and consumer demand are all influenced by global factors at work. Every aspect of the goods you sell and the services you provide are at the mercy of the global forces affecting the U.S. economy.
Detailed explanation-2: -International business also increases competition in domestic markets and introduces new opportunities to foreign markets. Global competition encourages companies to become more innovative and efficient in their use of resources. For consumers, international business introduces them to a variety of goods and services.
Detailed explanation-3: -Earn foreign exchange: International business exports its goods and services all over the world. This helps to earn valuable foreign exchange. This foreign exchange is used to pay for imports. Foreign exchange helps to make the business more profitable and to strengthen the economy of its country.