Global Business Environment: PDF

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Added on 2020-10-22

Global Business Environment: PDF

Added on 2020-10-22

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GLOBAL BUSINESSENVIRONMENT

Table of ContentsMAIN BODY...................................................................................................................................1A) Rising risks of global social media firm and impact of government regulations on firm.....1B) Donald Trump's economic policies impact upon foreign economies....................................2C) Emerging economies are presenting opportunities for global expansion for businesses.......3REFERENCES................................................................................................................................5

MAIN BODYA) Rising risks of global social media firm and impact of government regulations on firmRising use of social media like Facebook, Instagram, twitter etc. has been continuouslyincreasing. This has created some risks for these global social media firms, whether it is relatedto privacy issues, legal issues etc. One of the most common risk that Facebook facing issustainable business risk from European Union privacy rules. Recently according to some recentresearchers Facebook data collected was sold to a consulting firm and as a result they are facinglegal issues from EU as they violated their general data protection regulation and violation ofthis regulation fined the company up to 4% of their annual revenue. This created a risk forFacebook as EU forced Facebook to ban all the online advertisements due to which they makemoney. This privacy issue created a major risk for them which they need to work on (Coffee Jr,Sale and Henderson, 2015). This increasing excessive use of Social media is creating ethical riskfor these global social media firms. One of the major risk is that government is taking strictactions against any unethical activity that happens on social media and this is becoming a reasonfor people to avoid usage of social media and which eventually is becoming a threat for thesesocial media firms. Communication Decency Act forced all the global social media firms to keepa check on their content as any inappropriate content can increase risk for both the company andthe users.GDPR is one of the main government regulation which must be respected and followedby all social media firms and if not followed then they need to face some serious consequences.Digital millennium Copyright Act also forced company to focus on their policies as this actprotects copyrights of both company as well as consumers. However, these companies onlyfocusses on their copyrights and do not consider their users copyrights which has createdproblems for many social media firms (De Hert and Papakonstantinou, 2016). The newinformation technology acts has also forced these companies to respond to their users companiesand need to take actions if any wrong or fake news is spread on their websites. If they do not takeany actions then they will face strict actions from the government. Another risk for these firmshas increased regarding their users rights. These companies need to focus on protection of theirusers private information, if any of the users' information is hacked or misused then the companyis responsible and need to take same actions regarding the same and also face all theconsequences form their users and government. The new social media regulation Act controls the1

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