Businesses today are different from the past. People’s attitudes towards corporations have dramatically changed over the years. The industrial revolution brought in mass production in factories leading to lowering in prices of finished goods. On the other hand, this also brought about harsh and dangerous working conditions and exploitation of young women and children. This era was also characterized by increasing differences in distribution of wealth. This era was also characterized by increasing differences in distribution of wealth. The Second World War, role of
Technological Changes
The impact of technological changes over the years has been significant in bringing about evolutionary changes in communication, infrastructure and the way people around the world communicate. This has been an important determinant in creating a “Global Village” and a new class of knowledgeable consumers. Information weather good or bad are almost instantly available across the globe over the internet. No doubt corporations have benefited from new emerging technologies. But it also requires companies to be more aware of new threats that come along with these changes.
Globalization
Coupled with changes in technologies, globalization has drastically changed the way companies do business. Today, firms concentrate on competence and competitive advantage. Organizational structures are generally flat as compared to a high degree of vertical integration in the past like Ford and GM. Competition is everywhere and companies are actively on the search for customers, maintaining present customers and enhancing customer experience.
The Media
References:
http://www2.co-operative.com/CSR2004/22_case_study_business_environ.asp
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