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Social Institutions and Their Influence on Society
Social institution – a complex of positions, rules, norms, and values organizing relatively stable patterns of human resources with respect to sustaining visible societal structures within a given environment
It has profound effects on people’s living conditions and provides the context for psychological differences among people
It provides boundaries and norms that prescribe how people will behave
Three key social institutions most likely to influence the business environment
Economic systems (e.g., capitalism or socialism)
Level of industrialization
Types of religion
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