Business Enterprise
Question 1
For companies to prevail and thrive while doing business in a global market, they ought to have a variety of measures and strategies to mitigate challenges that may come their way. One of the significant threats that such businesses may encounter is the rough economic environment. Some countries are struggling based on their economy through a lack of business infrastructure that pivots an environment for survival. Some of the structures include an efficient banking system that would provide significant investment loans to these business. Another factor is political instability, which ends up discouraging the growth of business day in day out. In such an environment business seize to operate for an extended period which makes them decline
Question 2
As a company giving back to society is essential for its future and growth. Businesses do it through cooperate philanthropist programs and charitable contributions. Philanthropist programs enable a company to create a powerful competitive advantage over other companies that might be producing similar services or products. Through the creation of competitive advantage, a company is placed where the community and society prefer it at large, which leads to an increase in revenue. Through the approach, it can boost its branding and name recognition. It will ensure that there many people around the society and all over its external and internal environment are aware of their brand hence attracting customers to buy from them. It is a more effective method of advertising that makes consumers have a positive attitude towards it