Reference no: EM133157535

Course Objectives:

Students will become familiar with business theories and approaches relating to various business environments (Domestic, Global, Technological, Political-Legal, Socio-Cultural, and Economic).

Students will evaluate the business environments and practices of selected companies.

Students will evaluate the business environments of a company identified as a "worst" company to learn why it is not successful.

Students will apply successful company strategies and business theory to recommend a successful strategy for the "worst" company.

The socio-cultural environment consists of how consumers, households and communities behave and their beliefs. For instance, changes in attitude towards health, or a greater number of pensioners in a population. The socio-cultural environment will be language, aesthetics, education, religion, attitudes, values, social groups & organizations, and business custom practices. You will now begin to compare the social and cultural environments of the domestic and global cultures of your chosen "Worst" company. Continue to Lesson 6 for more information and details.

Given a chosen company, the student will examine the effect of socio-cultural environmental factors that affect the company within its Domestic and Global environments

Prompt:Continue working with your chosen worst company and its industry and complete the following:

Identify Domestic and Global Environments (countries) that are in opposing cultural clusters (as identified in International business: theory and practice) identify which cluster(s) your two countries fit.

Identify the socio-cultural parts of each country as related to business for your company. You will need to examine these with the aid of Geert Hofstede (see required readings).

Identify and discuss the various socio-cultural aspects of each country. Do they differ? How? What are the similarities?

How would these factors affect your company's business in your Domestic and Global Environments?