Mention the importance of socio-cultural fabric as an important environmental factor that should be analysed while formulating business strategies.(word limit 300)
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Sociology cultural factors has been one of the most important strategy for the development of any business related things for the future. Social and cultural factors that affect a lot in business include various belief systems and practices, customs, traditions and behaviours of all people in given country.
It also includes various fashion trends and market activities which influence the various actions and decisions for the development of the business of the nation. It includes various factors like the social growth rate of the area, average income of each and every person of the locality, population growth of the areas and so on.
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