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Globalization; As the world is becoming a global village, businesses are faced with the need to expand into other markets. In business management, the globalization has to be thought out carefully to ensure the expansion has a target market and appeals to the new audience to reduces risks of making loses. Challenges such as international requirements, increased transport costs can lead to loses if not handled well.
Environmental development; As awareness of global warming and disposal of toxic waste increase, companies are expected to come up with more acceptable ways of production that will increase profits while reducing these environmental challenges. Companies that do not comply not only face governmental bans but also loose the customers' preference.
Multicultural work place; Due to the flexible migration laws, companies workforce has become more interracial and multicultural. Businesses have to identify way of handing the diversity to improve communications and overall output.
QueenR answered the question on April 3, 2018 at 12:05
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