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Business Cannot Afford to Stand Still - Essay Example

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The world is witnessing a shrinking phenomenon in the last two decades.The trends,lifestyles and cultures are merging and becoming more alike.The present study seeks to provide an overview as to how the globalization and other indigenous factors affect the demographics and social structures of regions…
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Business Cannot Afford to Stand Still
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Download file to see previous pages The businesses around the world are witnessing changes in the demographic situations and thus are bound to modify their business marketing strategies around the changing character of the populations. Page (2010) contends that there exist a great variety of factors that influence the way the organizations operate. It is evident that factors like unemployment, old age, economic downturns have made the people change their buying patterns. Thus the businesses around the world need to adapt to such changes and prepare themselves to serve the people better.It is within the last two decades that the social and cultural perspectives have changed drastically. The perspectives relate to the aspects like concerns over environment and a healthy lifestyle. This led to changes in environment policies of the companies. For example, the plastic bags could not used as freely as earlier. This gave birth to the recyclable packing material in the form of bio degradable bags manufacturing (Page 2010).Prior to creation of business plans, it becomes important to study the external environment of the forces. The investigation of the social, legal, economic and political environments exercise influence over the businesses. These environment scan is also important to know the competitors plans. The forces behind the changes are themselves continually monitored and thus are found to be in a state of change. The social factors are associated with behavioral patterns and thus change the character of the fashions and lifestyles. ...Download file to see next pagesRead More
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