Importance Of International Environment
5. Demographic Environment:
Demographic …show more content…
New technologies create new products and new processes. Technology can reduce costs, improve quality and lead to innovation. These developments can benefit consumers as well as the organizations providing the products. MP3 players, computer games, online gambling and high definition TVs are all new markets created by technological advances. Online shopping, bar coding and computer aided design are all improvements to the way we do business as a result of better technology.
7. International Environment: Another environmental factor which is fast emerging as the force to reckon with is the international environment. Implications of global or international environment are;
(i) Due to liberalization, Indian companies are forced to view business issues from the global perspective.
(ii) Safe and protected markets are no longer there. World is becoming small in size due to advanced means of transport and communication facilities.
(iii) Learning of foreign languages is must for every business manager.
(iv) Acquiring familiarity with foreign currencies is also must.
(v) Facing political and legal uncertainties is