- 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 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 will be 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. Continue to Lesson 6 for more information and details.
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
Prompt:Continue working with your chosen worst company and its industry and complete the following:
- Identify Domestic and Global Environments (countries) that are in opposing cultural clusters (as identified in International business: theory and practice) identify which cluster(s) your two countries fit.
- Identify the socio-cultural parts of each country as related to business for your company. You will need to examine these with the aid of Geert Hofstede (see required readings).
- Identify and discuss the various socio-cultural aspects of each country. Do they differ? How? What are the similarities?
- How would these factors affect your company’s business in your Domestic and Global Environments?
- This paper will cover a portion your Final Simulation Project that details the items above.
- Research requirement: minimum 2 credible sources including at least one source from your readings.
- Minimum page requirement: 2 pages in APA format.