Impact of Socio-Economic Cultures and Technological Developments on International Business: A Case Study of McDonald's

International
business

Table of Contents
INTRODUCTION...........................................................................................................................4
Main Body.......................................................................................................................................4
Identify and illustrate how socio-economic cultures and technological developments affect
international business.............................................................................................................4
Analyse and explain how the political environment and ecological considerations affect
international business decisions.............................................................................................6
CONCLUSION ...............................................................................................................................8
REFERENCE.................................................................................................................................10

INTRODUCTION
International business is defined as the cross-boarder transactions of goods, services,
technology, capital and people across national boundaries or between two or more countries.
There are various internal as well as external factors are included in international business
environment. In external environment factor consist political, environmental, socio-economic,
technological and legal factors that impacts growth and development as well as decision-making
on international level. In international business , it is very important to analyse these factors
properly and take decisions accordingly that enable business to sustain in competitive business
environment for longer period of time.
In this report chosen organisation is McDonald's which is leading global fast food service
retailing organisation with more than 3000 local restaurants that serves 52 million people in more
than 100 countries. Respected organisation founded on 15 May. 1940 by Richard and Maurice
McDonald. Headquarter of organisation situated in Chicago, U.S. McDonald is well known
brand that serves quality food products to its customers. In this report socio-economic cultures
and technological developments are mentioned that impacts efficiency of international business.
Furthermore, political environment and ecological considerations are explained that impacts on
decision-making process of international business.
Main Body
Identify and illustrate how socio-economic cultures and technological developments affect
international business
In business environment, various factors are included such as technological development and
socio-economic culture that impacts efficiency and effectiveness in international market place
(Braakmann and McDonald, 2018). McDonald analyse these factors properly that take decisions
and develop policies accordingly.
Socio-economic culture impacts McDonald:
There are various factors are included in economic factors that impacts on customer
purchasing power and their spending pattern. McDonald understand the economic conditions of
country and set prices of its products accordingly. In developing country, customer has limited
purchasing power and low level of literacy that creates various problems for marketers in