Answer To: As society and culture change, a business needs to adapt and stay ahead of its competitors and...
Dilpreet answered on Feb 12 2021
Running Head: Impact of Socio-Cultural Factors on Businesses 1
Impact of Socio-Cultural Factors on Businesses
IMPACT OF SOCIO-CULTURAL FACTORS ON BUSINESSES
Potential Changes of Socio-Cultural Factors
In this modern era of globalisation, business organisations tend to operate in different countries and have to deal with several factors such as economic, political, legal, technical and socio-cultural factors. These factors have a direct impact on the performance of the business and thus affecting the profits earned by the business. In recent times a huge change can be seen in the socio-cultural factors of business environment. With the increasing interaction of the companies with its...