Why is it important for businesses to understand and care about political economics and different political systems? As you complete these activities you will develop a deeper understanding of the effect politics has on trade, regulations, and practices.  The political system and government in a country includes these rules, regulations, and practices based on values and beliefs. Therefore, each country's political system has an impact on the policies that govern the business environment both locally and internationally. What is political economics? WatchPlay Video Watch Why International Political Economy Is at the Heart of World Order in the 21st Century Learn more about political economics. Read the ebook Chapter 3 through legal systems. As you read focus on: What did PepsiCo encounter as they moved into the international marketplace? What are the major political systems? What are the major economic systems? What are legal systems and how are they affected by culture? Investigate the political factors that affect international business. Watch the video Impact of Political Factors

The final step in developing your strategic plan is to translate your strategy into action. A robust action plan contains four elements: Identification of specific actions to be undertaken in the next year or less. Establishment of a clear time frame for the completion of each action. Creation of accountability by identifying who is responsible for each action. Determination of one or more specific, immediate objectives that the action should achieve. Functional tactics and monetary ramifications are the underlying details of your strategic action plan. Functional tactics are short-term, narrow-scoped plans that detail the activities you will use to achieve your short-term objectives. The monetary ramifications of your strategic plan will likely be expressed in both income and expenses, for example, the amount of increased income anticipated by climbing the corporate ladder and the amount of money you may need to spend on education or professional development. Note: Developing a strategic plan requires specific steps that need to be executed in a sequence. The assessments in this course are presented in order and should be completed in sequence. In the previous assessments, you have developed your mission statement, conducted a personal SWOT analysis and environmental scan, and laid out your long-term and short-term objectives. Now, you will create a strategic plan to achieve your objectives. Your completed Strategic Action Plan will be based on the information from your mission statement, your SWOT analysis, environmental scan, and your long-term and short-term plans; however, you do not need to include these items in this assessment. Develop a strategic action plan in which you address the following: Specific steps you will need to take in the next year to achieve your 5-year objectives. A time frame for completing each action. The scorecard you will use to measure the success of each action. The functional tactics you will use to achieve your short-term objectives. The resources (financial, human, and other) you will use to complete each action. An analysis of the monetary ramifications of each action. A plan for monitoring the progress of the action plan. A plan for handling obstacles or roadblocks. An explanation of how your overall strategic plan reflects your mission statement. To successfully complete this assessment, you may need to do some research on strategic action plans. Format this assessment as a research paper following current APA guidelines for both style and citing sources, making sure that you also use correct grammar and mechanics. There is no required minimum or maximum page length; however, you should strive to be as detailed as possible in addressing each bullet point, while also being as clear and concise as possible.