In business, two types of environments affect operations directly and indirectly. The first one is the internal environment that a company controls, and the second is the external, which the business does not control. Some of the external factors are economic trends, political/legal trends, social-cultural and technological trends. These trends keep changing and affect all the companies in different ways.
A number of economic trends affecting the global economy are arising. The first one is the rising of other economic giants. Today, countries such as China and Brazil are rising steadily. This is changing the global GDP, trading and manufacturing. This has also increased expansion in trading among the developing countries. This has contributed to a shift in economic growth that is driven by the changing trading integration (Ahearn, 2011). This has been due to, “new global production and supply chains that incorporate inputs from many different countries,” (Ahearn, 2011). Another economic trend is a new distinction between developed and developing countries. Today, some countries may be considered richer when per-capita income is considered, but this no longer mean a bigger economy. It is not surprising to see a developing country with a bigger economy than a developed one (Ahearn, 2011). In this regard, the population is playing a bigger role than the wealth of the country.
Today the political and legal arena has evolved and many trends are coming up. One political trend that is arising in the whole world is the emergence of women to take up leadership roles that have been reserved for men in the past. Today, more women than ever vie for political positions. This has seen many women rise up from their stereotypical ideas. This has led to other political and legal issues such as laws that prohibit discrimination of gender at the workplace and property rights have changed where women also have rights to own property. Another trend in the political factor is how conflicts are solved. Today, conflicts are not solved through wars like earlier centuries. People come up with policies that benefit both parties to the conflict and solutions are found. Such solutions do affect the environment where rules of doing business change (McLaughlin, 2006).
Today, the society has become united by the advent of the internet. Many trends are emerging because of interaction. Today, most Americans consider the society an evolving system with ethnic diversity as well as ideology and interdependence among people and communities (Kramer, Heuer & Crawford, 2005). This has increased the acceptance of many societies within each other, and people feel such interaction is beneficial. This has also encouraged espionage where many people think it right to share information that could help other communities.
Today, the technology has really evolved, with the latest being the internet that has continued to revolutionize the world. Internet growth is providing opportunities for every person with access to it (Kramer, Heuer & Crawford, 2005). The internet allows people to interact online and conduct business without having to meet physically. More so, selling services have been impacted as a result where more people are embracing online selling. Today, many people transact businesses from the comfort of their seats across borders without having to travel. Another trend in the technological advancement is the increasing of advancement in weapons. Today, the United States relies on technology for its security through inventing state of the art weapons to fight against terrorism. More weapons such as nuclear bombs, fighter jets and marine technology are advancing the might of the military.
Ahearn, R. (2010). Rising Economic Powers and the Global Economy: Trends and Issues for Congress. Congressional Research Service.
Kramer, L.A., Heuer, R.J. & Crawford, K.S. (2005). Technological, Social, and Economic Trends That Are Increasing U.S. Vulnerability to Insider Espionage. Defense Personnel Security Research Center.
McLaughlin, C. (2006). Hot New Political Trends. Retrieved from http://www.visionarylead.org/articles/new_pol_trends.htm