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Socio Economic Issues Business Essay

Socio and Economic Factors in Global Business Essay examples

1906 Words8 Pages

Socio and Economic Factors in Global Business

When a company decides to take their business international, there are many different sociological and economic factors that they need to take into account. There are differences in management styles, international laws and treaties that regulate international business, as well as cultural customs that come into play. Each of these are significant and needs to be taken into account in order to minimize potential problems. Many times, lack of knowledge can create serious problems. Although there are a myriad of socio- and economic factors, this paper will focus on three key ones: 1) political barriers; 2) labor practices; and 3) cultural barriers. Additionally, real world examples will be…show more content…

The benefits of building a business in this market are enormous, and every company in the industry that considers itself a global player has spent the past five years trying to win the favor of Chinese officials. While most continue to lose money, including Wal-Mart, they've come to realize that loss is the cost of admission to a market offering the potential for enormous sales and profits as it transitions to a market-based economy and the standard of living increases for its 1.2 billion people. To get in on the ground floor, Wal-Mart entered the market in August 1996 with a supercenter and a Sam's Club. It added another supercenter in 1997, two more in 1998 and one in 1999. Expansion was more aggressive last year with five supercenter openings giving Wal-Mart a year-end total of 10 supercenters and one Sam's Club. The increased comfort level is the result of China's growing friendliness toward foreign investment in the retail sector of its economy. China is in the process of gaining admittance to the 140-member World Trade Organization. Inclusion is expected to reduce trade barriers eventually leading to sweeping changes in its economy (DSN Retailing Today, 2001). Wal-Mart is positioned to capitalize on this growth with a store format that has enjoyed strong acceptance since day one. Changes have been made to accommodate Chinese customers and different traffic patterns in stores. For example, customers shop stores more frequently and purchase

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Juvenile Crime and Socio Economic Factors Essay

1610 Words7 Pages

Crime at any age and in any form is a social problem and should be stopped or curbed at any cost. Crime at a juvenile age is on one hand a crime against property and life, and on the other a crime against humanity. It is a much graver social danger that holds the seed of an evident social disaster implanted into it. Criminologists hold different views regarding the root of juvenile crime and that often leads into quite the argument. Irrespective of those theoretical head on collisions, the presence of socio economic factors behind each juvenile crime committed is almost accepted by all. No one is a born criminal and it is evident that the surrounding socio economic environment acts as an important element and a catalyst in turning a young…show more content…

Metaphorically speaking, a tree determines the kind of fruit it is going to produce in future. Strong statistical evidence might be produced here in a “study of 250 boys found that among boys at age 10, the strongest predictors of later convictions for violent offenses (up to age 45) were poor parental supervision, parental conflict, and parental aggression, including harsh, punitive discipline.” (Shadier, 6) Again, if the adults of a family are already engaged into anti social activities, and the child witnesses such activities on a regular basis it becomes a school for criminal lessons. Going by the social process theory, individuals react to such conflict situations with hostility and anti social activities (Zarka). It is worth mentioning a study in this respect that was “carried out in prisons in the United States reveals that families involved in criminal activities tend to push their younger members towards violating the law. More than two-third of those interviewed had relatives who were incarcerated; for twenty percent it was a father and for another twenty five percent a brother or sister.” (Chapter 7: Juvenile Delinquency, 196) Evidence has also been found that a family where peace and love are distant issues and that displays continuous marital disorder results in creating an environment that eventually promotes juvenile delinquency. This is also true for families with evidence of divorce, though at

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