International Business

Anonymous
timer Asked: Mar 4th, 2019
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Question Description

Explain and analyze the external factors on or of international business (e.g., political, legal, economics, culture, etc.) and how these may impact business.

Write 3 full pages of text, not including the cover page and references. Minimum of 4 references are required.

Tutor Answer

nkostas
School: UT Austin

Attached.

Running Head: IMPACT OF EXTERNAL FACTORS ON INTERNATIONAL BUSINESS

Impact of External Factors on International Business
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Institution Affiliation
Date

1

IMPACT OF EXTERNAL FACTORS ON INTERNATIONAL BUSINESS

2

Impact of External Factors on International Business
Any business can never operate in a vacuum but rather in a changing environment which
has a direct influence on how it performs and the company also has a direct relationship with its
environment. It is therefore significant that any business organization interacts and transacts with
its environment as its failure or success is primarily determined by how effective its interaction is
with its environment (Muhlbacher, Dahringer & Leihs, 2006). Since the business has minimal
influence on the external environment, it is crucial for it to identify with the environment within
which it transacts and come up with policies regarding the aspects of the specific environment.
The external factors that impact international business include political and legal,
cultural, economic, technological, social and demographic factors. The economic factors have
the most significant influence on any business. The reason is that fluctuations in the economic
activity level of any country create business cycles which affect individuals and companies in
various ways. As an instance, when the economy of a given country is growing, for example,
unemployment rates are usually low, and income levels rise, which requires a business
organization to pay its employees more as per the government (Appiah-Adu & Amoako, 2016).
Interest and inflation rates are other areas which change as...

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Anonymous
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