Management (14th Edition)
14th Edition
ISBN: 9780134527604
Author: Stephen P. Robbins, Mary A. Coulter
Publisher: PEARSON
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Chapter 4, Problem 15DQ
Summary Introduction
To determine:
Importance of managers being aware of external environmental forces in global setting.
Introduction:
Managers need to be conscious of their surroundings, the external environmental awareness is of paramount importance as there can numerous unforeseen risks and competition which can impact the organization. Similarly, the managers can understand the environment better and accommodate the business functions more accustomed to the environment.
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- What are the main challenges faced by managers in a global business environment, and how can they overcome them?arrow_forwardDiscuss the factors of the macro-environment. Give examples for each of the factors.arrow_forwardWhat is environmental sustainability? how shouldcompanies gauge their progress towards achieving it?arrow_forward
- Why do demographic shifts and technological developments create both challenges and new opportunities for business? Can managers in business firms control the elements in the external environment, or do they simply have to react to changes that are beyond their control? Give examples that support your conclusion. Describe in general terms how each element of the external environment (economic, technological, socio-cultural, political-legal, global, and business) affects business firms.arrow_forwardExplain why is it important for a manager to understand how the MARKET FORCES behave? Make sure to give a concrete examples in your discussion.arrow_forwardDo you think the global marketplace is a good thing for managers? For consumers? For employees? Why or why not?arrow_forward
- 3.3 By conducting an environmental analysis, we have identified key factors of the business environment that has been affected by an epidemic such as Covid-19. As a business consultant you have been asked to provide feedback on the relevant indicators and effects of each factor to senior levels of management: 3.3.1 Social 3.3.2 Ecological 3.3.3 Economicalarrow_forwardcan manages with strong social values be successful manages?arrow_forwardManagers have a fiduciary duty to their shareholders to provide as much profit as possible. Reflecting on the Dirty Money and Ford Pinto issues, how does that duty relate to ethical norms?arrow_forward
- Create a table identifying potential stakeholders of the Walmart. Then indicate what particular interests or concerns these stakeholders might have.create a list of factors in the external environmentthat could affect the management of Walmart.arrow_forwardWhy does a good manager need to consider sustainable Development and Sustainable innovations?arrow_forward1-6. What are environmental forces?arrow_forward
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