Why is it important for businesses to understand and care about political economics and different political systems
Inter Bus ( Task 3)
TASK 3 POLITICAL ECONOMICS AND INTERNATIONAL BUSINESS
Why is it important for businesses to understand and care about political economics and different political systems? As you complete these activities you will develop a deeper understanding of the effect politics has on trade, regulations, and practices. The political system and government in a country includes these rules, regulations, and practices based on values and beliefs. Therefore, each country’s political system has an impact on the policies that govern the business environment both locally and internationally.
What is political economics?
- Watch
Learn more about political economics.
Read the ebook Chapter 3 through legal systems. As you read focus on:
- What did PepsiCo encounter as they moved into the international marketplace?
- What are the major political systems?
- What are the major economic systems?
- What are legal systems and how are they affected by culture?
Investigate the political factors that affect international business.
- Watch the video Impact of Political Factors
Complete the Quick Study questions for each section (1 – 4).
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Answer Preview……………..
Political economics is the interaction between political forces and economic forces at the international level. In the 21st century, the aspect of political economy has become a significant concern while participating in international business (Oatley, 2015). Different countries have set their rules, policies, and regulations that regulate the business environment. This helps countries to protect their domestic firms or industries. For any business to enter an international market, it…………………….
APA 308 words