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Assessment of Context of Business

   

Added on  2020-10-23

6 Pages1298 Words474 Views
CONTEXT OF BUSINESS
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Table of ContentsINTRODUCTION...........................................................................................................................1MAIN BODY...................................................................................................................................1Identifying and discussing the importance of managing responsibly, sustainably and behaveethically in relation to cultural, economic, environmental and social issue...........................1CONCLUSION................................................................................................................................3REFERENCES................................................................................................................................4
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INTRODUCTIONBusiness is a structured entity that aims to supply consumers with goods and services fora profit. The availability and advancement of technology that has become much easier to dobusiness globally. The assessment of Context of Business aims to evaluate various factor thatpositively and negatively impact the business that foster or hinder to do business globally. Thestudy will provide an understanding the dynamic and changing nature of businesses and identifythe future trend of the organisation within the global business environment. Along with it, it willalso identity the need for individuals and organisation to maintain ethics of doing business.MAIN BODYIdentifying and discussing the importance of managing responsibly, sustainably and behaveethically in relation to cultural, economic, environmental and social issueFor understanding the importance it is require have an understanding of the dynamic andchanging nature of businesses in the global environment.In the changing and modern world the way businesses were carried out is drasticallychanging. For the organisations doing business at global level is becoming so much easy (vomBrocke, Zelt and Schmiedel, 2016). The organisation is changing in terms of the way of their dayto day operations, to reach consumers, the way of doing business, managing people andmanaging change. The nature of businesses are changing from making profit to innovations,ethically and sustainably responsible. The dynamic and changing nature of businesses in theglobal business environment can be understand through various internal and external factors;Technological advancement is one of the most considerable external factor that changethe way of doing business. The overall operations and presenting the products and services aretotally relies on new technologies (Souto, 2015). The future of organisation is mainly depends onvarious technological elements comprise in businesses as well as it help the organisation to makethe competitive position in the global business environment. Technological advancementimprovise the raw material availability, transportation, etc.The internal factors is; Corporate social responsibilities. The nature of business ischanging and they are becoming more responsible towards the environment and society (Lenssenand Lenssen, 2018). For example; ASDA is a social and environmental responsible industry thatdevelop, imply and communicate various policies and programs in the industry such as; waste1
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