Government policies on regulation and taxation can vary from state to state and across national boundaries. Among those countries housing BPO operations, India experienced the most dramatic growth in services where language skills and education were important. Seven years after the explosion, tourism and other businesses are slowly recovering, although scientists are not certain about the long-term environmental consequences of the oil spill. International outsourcing, or outsourcing work to a nondomestic third party, has become very visible in business and corporate strategy in recent years. It may seem as if international outsourcing is new because businesses are now more often outsourcing services, components, and raw materials from countries with developing economies (e.g., China, Brazil, and India). For instance, the legal environment is often related to the political environment, where laws and regulations can only change when theyre consistent with the political will. Technology poses new challenges for this economic convergence. Can policy reforms reverse the slowing of potential growth? Why do demographic shifts and technological developments create both challenges and new opportunities for business? Also, new frameworks are needed for international collaboration in areas such as regulation of cross-border data flows and taxation of cross-border digital business. 1 0 obj consent of Rice University. Making assumptions about local norms derived from experiences in your home market is a common cause for early failure when entering new markets. 1 (1989): 2940. They must be more responsive to change to fully capture potential gains in productivity and economic growth and address rising inequality as technological disruptions create winners and losers. [1], Exhibit 1.4The Dynamic Business Environment (Attribution: Copyright Rice University, OpenStax, under CC-BY 4.0 license). 0. Firms need to understand the macroenvironment to ensure that their strategy is aligned with the powerful forces of change affecting their business landscape. For instance, how stable is the political environment? This chapter was adapted under a Creative Commons Attribution-NonCommercial-ShareAlike 3.0 License from the book International Business v. 1.0 published by Saylor Academy, the creator or licensor of this work. >> Its Already Faster Than Europes Drug Agency, Los Angeles Times. You can see how you might employ the CAGE framework to evaluate potential outsourcing locations. Social protection systems, traditionally based on formal long-term employer-employee relationships, should be adapted to a more dynamic job market.
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