The paper “ The Changing Modern Business Environment” is a fascinating example of the essay on business. The turn of the 21st century has brought with it irreversible change to the world of business and management. Globalization, climate change, global warming, political developments, technological developments, and demographic changes have all combined to redefine the business environment and how modern-day businesses run their affairs. These changes are not one-time occurrences but rather gradual developments that take place over long and sometimes short of period time. However, some of these changes are so rapid meaning that for businesses to remain relevant, they have to make rapid changes.
These changes bring with them new opportunities and new challenges. Firms that successfully maneuver through the new business environment will succeed while those that do not will ultimately fail. The changes that have taken place since the beginning of the new millennium only serve to indicate that the years ahead will be radically different from the past. Organizations must be prepared not only to change but change continuously and face the ever-present uncertainties as this paper seeks to prove drawing support from relevant sources. Change drivers of the 21 centuryGlobalizationGlobalization is one of the most widely used words in the modern world of management.
Managers and business leaders are constantly talking about a globalized world and the world becoming a global village. But what is globalization? In his book ‘ ReOrient: Global Economy in the Asian Age’ , Per A. G. Frank says globalization is “ either a conceptualized modern phenomena involving the breakdown of borders, the emergence of new technologies and a mix of different cultures or phenomena with a long history which dates back to the first known connections between countries and people in the world… ” (Hermann 2012).
A number of questions arise out of this. Some people are concerned about what is the use and the risks involved in removing boundaries that were in place before. Were these boundaries not put up for a reason? The motivations for putting boundaries and removing them now through globalization must be evaluated carefully.
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