Impact of cultural,political,legal and economical environment on international business
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The following are the key impact of cultural,political,legal and economical environment on international business
- Create dynamic environment
- Changing trends
- Change in customer preference
- Change in norms and policies:(example given gst in india replaced vat)
- Change in demand and supply
- Promotional factors
- Standard of service
- Financial needs are impacted
- New product innovation
- Taxation
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