BUSINESS ADMINISTRATION
BUSINESS ENVIRONMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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geographic
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economic
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political and legal
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cultural and social
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Detailed explanation-1: -These key features of Macro-environment that impact the international business environment are Political, economic, cultural, technological, competitive, etc.
Detailed explanation-2: -Elements are-language, social norms, religion, ethics, socio economics, mores, traditions, societal regulations, nationalism, aesthetics, material culture, attitudes, values, social organisation.
Detailed explanation-3: -Socio-cultural perspective is one of the most important factor influencing decision of marketing managers and strategic goals of companies entering new foreign markets. It should be noted that legal factors affecting business is also considered as one of the major socio-cultural factors that can influence companies.