Business Report: Understanding Business in a Globalized Environment

This report delves into critical aspects of understanding business operations within a globalized context. It examines the impact of Brexit on various business functions, including financial markets and political dynamics, and explores how businesses can leverage social media to enhance productivity, sales, and profitability. Furthermore, the report addresses communication challenges arising from cultural differences in international business settings, emphasizing the importance of adapting to diverse communication styles and practices. The analysis covers financial market impacts, political fallout, and the rise of populist movements in relation to Brexit. It also explores how businesses can use computer technology and employee empowerment to enhance their productivity. Finally, it highlights how cultural differences can create communication barriers in international business and suggests strategies for overcoming these challenges. The report provides a comprehensive overview of these key business issues, offering insights and recommendations for navigating the complexities of the modern business environment.

Understanding business

TABLE OF CONTENTS
INTRODUCTION...........................................................................................................................3
QUESTION 1...................................................................................................................................3
Three areas of business functioning which affected by Britain leaving the EU.........................3
QUESTION 2...................................................................................................................................4
What falling business can do to enhance their productivity, sales, profits through social media
.....................................................................................................................................................4
QUESTION 3...................................................................................................................................5
Some possible communication issues for the international business that arise due to cultural
differences...................................................................................................................................5
CONCLUSION................................................................................................................................6
REFERENCES................................................................................................................................7

INTRODUCTION
Understand business is important concept that helps to focus on the external business
environment. In this consideration, all people requires awareness towards the products and
services that are promoted and offers by the company (Coulter and Hancké, 2016). In respect to
focus on the present report it covers areas in which functioning considered that affected due to
leaves EU. Furthermore, it includes what falling in businesses which increases its productivity.
Also, it includes different types of issues such as communication issues etc. that arises between
two bodies because of factors like cultural differences etc.
QUESTION 1
Three areas of business functioning which affected by Britain leaving the EU
In respect to see towards the Britain voted to leave the European Union. Due to this
reason pound is lowest which create negative results on the country. There are Brexit
campaigners that are optimistic predictions for the Britain and their enterprises. There are
different concern exist in which business functioning affected by the Britain leaving the EU. Thy
are as follows:
 Financial markets affected: Brexit also create impact on the financial market which is
more sensitive to the vulnerabilities in the 19 nations. Sterling already plunged from last
30 years which is low. Investors are also asks whether Brexit shock. Therefore, European
government have political impact and also public support to strengthen. In the European
banking union monetary functions and considered important part to make successful
results (O'Reilly, Froud and Frerichs, 2016). Further, individual countries are also
considered intensified in the market scrutiny. Ahead from British vote, yield spread
widened between the German Government bond. In the southern European countries,
rules are also prospects for the stable government in the nation. In respect to see towards
the coalition of the moderate and radical left, is unsettling investors. Deep seated troubles
of Greece have never gone away.
 Political fallout from Brexit: Political movement exit in the right parties in Western
Europe. It will also take inspiration from Brexit. In all the galvanised of the France's
National front. Far right also come to power in any EU country. Therefore, it will b
capable for attracting and considered enough support to shape the political debate.

Therefore, it will influence to left as well as right with government actions. Immigration
policy also take important place in the case in this aspect (Cumming and Zahra, 2016.
 Populist insurgents: Under the pressure, EU also develops proposals for the closer
integration. In the plan, it is also develop proposal with closer integration. Therefore, it
includes several aspects that gathered dust in the Brussels. Much closer economic and
monetary union is also out of reach. As results, French and Germans presents their plans
for ascertain more co-operations in the areas such as defence and domestic security.
QUESTION 2
What falling business can do to enhance their productivity, sales, profits through social media
When businesses are falling, it is important to focus on the business productivity and its
sales that make systematic results at workplace. In this consideration, mainly social media is the
important consideration which transform in the way for development of the society (O'Reilly,
Froud and Frerichs, 2016). Advertisement on the internet considered important part which make
successful results and outcomes at workplace of UK. Brand presence of the social media
considered important part at UK environment. Furthermore, small business also capitalise as the
crucial manner which assists to implement effective results at workplace. When business is not
going for right, they need to make concentration to find more brands on there. Presence of social
media really going to expecting to find brands of the several businesses (Coulter and Hancké,
2016). When SME owners are expecting to find the business, target market also develop message
to think that customers are getting several benefits to know about the outside the enterprise.
Following are certain ways through business will able to increase their productivity:
 In order to develop effective results and outcomes, company ned to increase their
productivity in systematic manner. In this consideration, computer technology is useful
fundamental aspect which helps to increase competitive advantages through assess and
evaluate business activities. It is also make systematic targets and goals that ned to satisfy
people demand and requirement (Lynch and Vindla, 2018).
 Furthermore, empowers employees another way that assists to provide front line tools
which requires in job. It also considered for increasing productivity and making
flexibility in work. Allowing workers also solve their issues which assist to supervisor to
make important tasks. Planning plays very important part in this way which assists to
make systematic functioning in business unit (Cumming and Zahra, 2016).

QUESTION 3
Some possible communication issues for the international business that arise due to cultural
differences
There can be seen and observed various examples of communication issues in case of the
international businesses that happens because of the cultural differences. It is obvious
enough that when two parties belong to different cultures and background, there might be a
possibility that the factors, way of expressing, interacting etc. can actually differ from one
another. So, it becomes obvious enough that there are chances that the two can have some
differences, whether in interacting etc. In various countries, the mode of communication and
interaction people follow is through facial expressions or they consider the meaning of the
specific thing by the tone of the person (Quinton and Wilson, 2016). On the other side, in
some countries, the interaction is done explicitly. Some are weak in representing their basic
emotion while some seems strong enough in it. So, it is very important to appreciate and
adopt these cultural differences so that no further issues can take place. Also in case of
cultural differences, some times a translator is being observed as well. So, when there is the
presence of a translator between two people, there might be the possibility that some sort of
misunderstandings can get create because of that because it is obvious enough that when two
people are not communicating directly and are interaction by some means, in that case, the
possibility increases that some mis communication or mis understanding will happen
between the two (Crane and Matten, 2016.).
Also, in some countries, exchanging of the business cards is a must. So in Arab countries,
the process is being done with the right hand whereas in countries like China etc. one has to
make use of both the hands to exchange it. Thus, such small factors makes a big difference.
Also, if not considered properly, these factors can actually lead to various huge and major
issues in communication. There have been observed that the differences in language and
culture acts as a sort of barrier or challenge in the communication factor in international
businesses and marketing. Also, the body language of the person acts as a form of
communication only and it is been said that actions speak much more than words (Trugman,
2016). Thus, one needs to stay focused towards their body language and expressions because
it can also have an influence on the person with whom the interaction is going on. Another
factor that can be included in cultural differences is that in various countries, the parties

expect the person to stay punctual and be on time because this somehow also throws a
negative influence on the person and can also destroy the whole interaction between the two
(Olszak, 2014). For overcoming such language and communication barriers, well managed
methods and strategies can be involved in order to resolve the issue to a huge extent, thus
the people can focus on the business in a more efficient and appropriate manner.
CONCLUSION
It can be concluded from the report that it is very essential to understand the business in
order to make the operations and procedures much better and also in an efficient and appropriate
way. Also, there are some areas of business that get affected by the excluding of Britain by the
EU. Also, it includes the factors that a business that is falling can do to increase its popularity as
well as productivity at a higher extent again. Along with this, it also includes the reasons of
communication issues that happen in businesses because of the cultural differences. So, proper
preventive measures can be taken in order to reduce the rate of such communication issues, so
that the business can focus on achieving their targets and goals at a higher rate.

REFERENCES
Books and Journals
Coulter, S. and Hancké, B., 2016. A bonfire of the regulations, or business as usual? The UK
labour market and the political economy of Brexit. The Political Quarterly, 87(2),
pp.148-156.
Crane, A. and Matten, D., 2016. Business ethics: Managing corporate citizenship and
sustainability in the age of globalization. Oxford University Press.
Cumming, D. J. and Zahra, S. A., 2016. International business and entrepreneurship implications
of Brexit. British Journal of Management, 27(4), pp.687-692.
Lynch, M. and Vindla, A., 2018. Parallels Amidst Chaos: Consumer Choice after Brexit and the
US Presidential Election. 2017 NCUR.
Olszak, C.M., 2014, September. Towards an understanding Business Intelligence. A dynamic
capability-based framework for Business Intelligence. In Computer Science and Information
Systems (FedCSIS), 2014 Federated Conference on (pp. 1103-1110). IEEE.
O'Reilly, J., Froud, J. and Frerichs, S., 2016. Brexit: understanding the socio-economic origins
and consequences. Socio-Economic Review, 14(4), pp.807-854.
Quinton, S. and Wilson, D., 2016. Tensions and ties in social media networks: Towards a model
of understanding business relationship development and business performance enhancement
through the use of LinkedIn. Industrial Marketing Management, 54, pp.15-24.
Trugman, 2016. Understanding business valuation: A practical guide to valuing small to medium
sized businesses. John Wiley & Sons.