Report For BUAD2080 - Due 03/19 Global Environmental News An ✓ Solved

Report for buad2080- due 03/19 Global Environmental News Analy

The global business environment is changing rapidly. The objective of the GENA is to encourage you to be informed of changes in the global business environment. Your task is to report such news and its implications for theory and practice. By executing this assignment, you will learn to apply theoretical readings to current global news, and understand the implications of current business practices. This is business writing using professional terms and wording.

Avoid using slang and common colloquialisms. The following format must be used: (a) News item, source, date (b) Concise, brief summary (10 pts.) (c) Implications for practice (beneficiaries/losers) (10 pts.) (d) Implications for theory (link theories/concepts from text to news item) (10 pts.) (e) Future direction/your personal prediction based on reading (10 pts.) (f) Presentation 3-5 minutes (10 pts).

Using this article relating to global news, summarize the article, identify and explain implications for practice and theory (including citing the related concepts from your textbook), and provide your opinion of the future direction the story might take. Prepare your report according to the instructions below: Requirements: Length 2-3 (maximum) well-written Single line spacing Font – Times New Roman size 12pt. USE THESE Headings: Summary, Implications for Practice, Implications for Theory, Future Direction.

Note: Failure to follow instructions will cost points.

Paper For Above Instructions

Title: Global Environmental Changes and Their Implications

Summary

The global business landscape is ever-evolving due to various environmental shifts driven by technological advancements, policy changes, socioeconomic dynamics, and climate change. This report focuses on a recent article published by the World Economic Forum, titled "The Global Risks Report 2023," which outlines the pressing global challenges expected to influence businesses and economies worldwide (World Economic Forum, 2023). The report emphasizes how issues such as climate change, economic instability, and geopolitical tensions are pivotal in shaping the global business environment.

Implications for Practice

As businesses navigate this rapidly changing landscape, they must adapt their practices to withstand the identified global risks. Companies that proactively incorporate environmental sustainability into their operations will likely benefit in the long term, as consumers increasingly prefer eco-friendly brands (Nielsen, 2020). On the contrary, companies that fail to address these risks may face severe backlash, including reputational damage and potential declines in market share. For instance, a significant player in the petroleum industry could face boycotts and consumer distrust if they don’t invest in renewable energy sources or emissions reduction technologies (KPMG, 2020). The winners in this scenario will be those who early adopt sustainable practices and engage in transparent communication about their strategies to mitigate environmental impact.

Implications for Theory

This changing global landscape has theoretical implications as well. Theories such as Porter’s Five Forces and stakeholder theory can provide insights into how businesses can strategically assess and respond to these risks. For example, Porter’s Five Forces can be used to examine industry competition, which may be intensified by new regulations promoting environmental sustainability (Porter & Van der Linde, 1995). Additionally, stakeholder theory emphasizes the importance of recognizing and balancing the interests of various stakeholders—including investors, consumers, and governments—when making decisions related to environmental practices (Freeman, 1984). The incorporation of these theories into practical applications underlines the necessity for businesses to adapt their models to align with the mounting pressures of sustainability and responsibility.

Future Direction

Looking ahead, the trajectory of global business is likely to be influenced by an increased emphasis on sustainability. As environmental concerns continue to rise, it is plausible that governments will enact stricter regulations centered on carbon emissions and resource usage while promoting clean technology. My prediction is that businesses will increasingly need to innovate in areas such as circular economy practices, renewable energy solutions, and sustainable supply chain management to stay competitive. This shift will not only align with consumer expectations but also foster resilience against future global risks (McKinsey & Company, 2021). The long-term survival of many industries will hinge on their ability to pivot toward more sustainable and responsible practices, fundamentally altering the competitive landscape of global business.

References

  • Freeman, R. E. (1984). Strategic Management: A Stakeholder Approach. Boston: Pitman.
  • KPMG. (2020). The Time Has Come: The KPMG Survey of Sustainability Reporting 2020. KPMG International.
  • McKinsey & Company. (2021). The Future of Sustainability in a Post-COVID World: A McKinsey Global Survey.
  • Nielsen. (2020). Sustainable Shopping: The Consumer Perspective. Nielsen Global Study.
  • Porter, M. E., & Van der Linde, C. (1995). Green and Competitive: Ending the Stalemate. Harvard Business Review.
  • World Economic Forum. (2023). The Global Risks Report 2023. World Economic Forum.
  • International Institute for Environment and Development. (2021). Sustainable Development Goals: The Implications for Business.
  • OECD. (2020). Business Models for the Circular Economy: Risks and Opportunities.
  • UN Environment Programme. (2021). Emissions Gap Report 2021. United Nations.
  • The World Bank. (2022). Climate Change and International Trade: Cross-Cutting Issues.

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