The Dynamic Environment: Business, Government and Society

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Topic: Business & Economics
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Summary of the Chapter The Dynamic Environment

The chapter The Dynamic Environment of the book Business, Government and Society begins by examining the business of Royal Dutch Shell PLC. The example of this oil company offers a wide picture of the challenges arising from the industrial revolution. The case highlights how the world encountered new problems such as inequalities and energy demands. The article goes further to explain how the developing world has constantly used new policies to alleviate poverty.

The article identifies the major historical forces that reshaped the world. Such forces included “inequality, the industrial revolution, great leaders, national states, globalization, population growth, and technologies” (Steiner & Steiner, 2012, p. 24). According to the chapter, the industrial revolution took place due to the presence of strong markets, labor, resources, transportation systems, and leadership ideas. The increasing rate of industrial growth and revolution has changed every society. These new changes also resulted in numerous strains and inequalities.

The world’s population grew exponentially after the industrial revolution. New technologies have emerged throughout the 20th century. These developments have fueled new activities such as commerce. These technologies are also fostering productivity and human welfare (Steiner & Steiner, 2012). Societies are interacting in order to change their business practices and socio-cultural values. Such forces have also created new human networks. This new wave has made globalization a reality. Some common “consequences of globalization include changed cultural practices and economic activities” (Steiner & Steiner, 2012, p. 28).

The economic environment has taken a new position. Some forces influence market practices such as wages, government policies, interest rates, and commodity prices. The global society has changed after the establishment of new cultures. Transnational corporations continue to create new global cultures and ideologies. Business actions can reshape or affect the welfare of every society. Businesses should consider the best ideas and practices in order to conserve the environment and safeguard the rights of every citizen. Businesses have powerful capacities to shape their societies and improve the living conditions of many people.

My Personal Response

This chapter offers a critical analysis of our environment and business performance. History explains how human activities have reshaped the universe. I have also understood how the industrial revolution changed the world completely. New “forces such as leadership, globalization, change, technology, and nationalization have changed our world” (Steiner & Steiner, 2012, p. 24). Globalization has taken place due to technological changes and the formation of transnational corporations. The process has increased our world’s population. Every society should consider the best practices in order to manage these technological changes.

The waves of capitalism, communism, and constitutional democracies encouraged nations to produce more products and goods than ever before. The practice was significant towards changing the nature and position of the global economy. The economic environment plays a major role in determining the future of the world (Steiner & Steiner, 2012). The world should be aware of the above issues in order to support the needs of its people.

I have learned why business organizations and managers should analyze the implications and benefits of these socio-economic changes. My new skills from this chapter connect to current business issues. Entrepreneurs and policymakers can examine the past in order to present the best strategies for future business practices. The issues associated with globalization can affect the effectiveness of many business practices.

Some questions such as Corporate Social Responsibility (CSR) and moral obligation have become critical than ever before (Steiner & Steiner, 2012). The law is also constantly evolving. I believe every government should consider the ideas in this chapter in order to make the best regulations. Businesses can affect the integrity and effectiveness of their surrounding environments. Managers should always deal with the internal and external issues affecting their firms. I support most of these ideas because they can change history and make the universe a better place for every person.

Reference

Steiner, J., & Steiner, G. (2012). Business, Government, and Society. New York: McGraw Hill. Web.