What Is the Definition of Global Business Environment?
The definition of global business environment is multiple sovereign nations outside of the organization’s home environment influencing how the organization makes decisions for how to use its resources. The company’s operating situation depends on both external and internal factors.
Factors within a business environment typically includes suppliers and clients, technology improvements, government activities, economic trends, owners and competition, laws, social trends and market trends. The social environment of the host country plays a major role, so the company must fully understand the social norms of that country to function efficiently and effectively. Social norms include things like the culture and language of the host country.