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Ethical Business Practices in Context of Social, Economic and Environmental Issues

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Added on  2020-12-10

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1 Context of Business TABLE OF CONTENTS INTRODUCTION 3 MAIN BODY3 Identifying as well as discussing micro as well as macro environmental factors which has changed the nature of modern business 3 Analyzing the need forindividualandorganizationformanaging responsibility and behaving ethically in context of cultural social, economic and environmental issue 5 CONCLUSION 5 REFERENCES 6 INTRODUCTION In present digital world, advancement in the technology has bought drastic changes in business environment. MAIN BODY 1 Identifying as well as discussing micro as well as

Ethical Business Practices in Context of Social, Economic and Environmental Issues

   Added on 2020-12-10

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Context of Business
Ethical Business Practices in Context of Social, Economic and Environmental Issues_1
TABLE OF CONTENTSINTRODUCTION...........................................................................................................................3MAIN BODY...................................................................................................................................3Identifying as well as discussing micro as well as macro environmental factors which haschanged the nature of modern business......................................................................................3Analyzing the need for individual and organization for managing responsibility and behavingethically in context of cultural social, economic and environmental issue.................................5CONCLUSION................................................................................................................................5REFERENCES................................................................................................................................6
Ethical Business Practices in Context of Social, Economic and Environmental Issues_2
INTRODUCTIONIn present digital world, advancement in the technology has bought drastic changes inbusiness environment. Both digitalisation as well as globalisation has provided companies anease in expanding and managing their business at global level. The assignment will have focus on identifying the micro as well as macro environmentfactors which has changed the nature of business environment. Study will emphasize onanalysing the significance of fulfilling the corporate social responsibility and to behave in ethicalmanner.MAIN BODYIdentifying as well as discussing micro as well as macro environmental factors which haschanged the nature of modern businessMacro environment are those external forces which directly as well as significantly effectthe business . Pestle analysis is a technique which can be applied in order to identifying the factorsaffecting the business environment, The several external variables such as social, legal,environmental, political and especially economic as well as technological changes has boughtdrastic change in nature of business. Social cultural factors: The changes in social as well as cultural factors in macro businessenvironment has played crucial role in the functioning of business. Changes in socialenvironment has significant influence on the modern business. Social variables in macrobusiness environment includes change in trends, taste and preference of customers. Changes incustomer demands encourages modern business to develop innovative products or services. Thenegative effect of this factor is that due to the continuous change in the trend, modern companieshave to face difficulty in maintaining demand and supply (Kopnina and Blewitt, 2018.). Technological factors: Emergence in digital technology has brought positive as well as drasticchange in way of communication done by modern companies with customers. Growth in digitaltechnology has provided modern business an ease in promoting their products or services atinternational level. It has provided modern business a chance to bring improvement in themarketing activities. At the same time, emergence of technology has given rise to intensecompetition in industries due to which many modern companies are facing difficulty inconcentrating on the core business functions. In addition to this, technology used by the
Ethical Business Practices in Context of Social, Economic and Environmental Issues_3

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