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Ch 1: The Dynamic Business Environment

About This Chapter

The Dynamic Business Environment chapter helps students learn the factors associated with fast-changing business environments. This chapter uses simple and fun videos that are about five minutes long, which helps you quickly learn and remember the information.

The Dynamic Business Environment- Chapter Summary and Learning Objectives

There are many different things that can affect the businesses environment such as technology, competition, laws, and society. In this chapter, you will learn all about the dynamic business environment. Our experienced instructors will make sure you master this important business topic. Some of the specific things that will be covered in these lessons include:

  • The economic and legal environments that affect business
  • Impact of technology on business
  • Why competition is significant
  • The global business environment

VideoObjective
How the Economic and Legal Environment Affects Business: Definition & Quiz Recall the economic and legal influences on a business such as taxes.
How the Technological Environment Affects Business: Examples & Effects Summarize how technology impacts a business.
How the Competitive Environment Affects Business: Examples & Importance Evaluate ways businesses can meet and/or beat the competition.
How the Social Environment Affects Business: Examples & Impact Identify the social changes such as diversity and demographics and how they affect businesses.
How the Global Business Environment Affects Business: Explanation & Examples Examine how businesses meet challenges such as war and terrorism.

5 Lessons in Chapter 1: The Dynamic Business Environment
How The Economic and Legal Environment Affects Business

1. How The Economic and Legal Environment Affects Business

Businesses do not operate in a vacuum. They are subject to their external environments. In this lesson, you'll learn about the legal and economic environments of business and how businesses are affected by them.

How The Technological Environment Affects Business: Examples & Effects

2. How The Technological Environment Affects Business: Examples & Effects

Technology affects all of us. Technology can catapult a business to success or destroy it. In this lesson, you'll learn about technology, technological change, and creative destruction. A short quiz follows.

How The Competitive Environment Affects Business: Examples & Importance

3. How The Competitive Environment Affects Business: Examples & Importance

Competition is essential for the successful operation of a market economy. Competition helps provide the best products and services at the best price. In this lesson, you'll learn about competition and some strategies employed by competitors.

How The Social Environment Affects Business: Examples & Impact

4. How The Social Environment Affects Business: Examples & Impact

Businesses operate in a society. In fact, large organizations are mini-societies unto themselves. In this lesson, you'll learn some of the factors that make up the external and internal social environment of a business.

How The Global Business Environment Affects Business: Explanation & Examples

5. How The Global Business Environment Affects Business: Explanation & Examples

The world is becoming smaller. As globalization continues, businesses will be presented with opportunities and face challenges. In this lesson, you'll learn about some of these challenges and see how businesses can meet them.

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