Impact of Social Media on Business Environment

MAIN BODY

A. Explaining the possible impact of social media on company

In the present days, social media is very important and effective part of company where companies are updates details of product and services of company in order to promote their business. This will highly support to businesses to beat their competitors negatively. As per that government proposed various regulations which impact on businesses and companies either negative or positive manner (Adekola and Sergi, 2016). Explanation of those impacts on companies are as follows:

Loss IP and important data:

Companies are puts various information about their product on social media which is loss IP and various sensitive data. Through that security risk is arising from deploying social media in the businesses which they are understood by organization how to handle those risk in effective manner. This will release and leaked various important documents of company at market place and create negative impact on business and company.

Reputation loss:

The customers are puts and give fast or quick opinion by using social media, companies needs effective response plan when a crisis occurs. Those actions and conversation seen by other customers and companies which is gives negative impact on company and reputation of company will loss at the market place (Aithal, 2017). That is not good for company and for their growth factors. Like on the Facebook, company upload some details for customers about products than customers gives quick response about product either negative and positive.

Effect on human resources:

The social media present various opportunity as well as threats for company and provide a channels for both recruitment or having employees who are influenced by their competitors. Those are good for companies at global platform (Wood and Logsdon, 2017). At the global business environment companies are needs various employees who are belongs to different culture which is help to understand needs and wants of customers by managing working.

Those are the impacts that are faced by firm through social media and government regulations on businesses.

B. Explaining president trump's approaches to economic policy impact on Foreign economies like UK or EU and China.

The president trumps outlined the various key areas and aspects of the economy which will be targeted for proper and effective improvement. Through these businesses are run effectively which is cited that high unemployment rates, out of control government spending and the negative UK trades balance as unacceptable realities. This policies are impact on the foreign economies like UK and China.

Reduction in trades tensions: Recently, president trumps meeting with EU commission and led the reduction of trade tensions between the UK and EU stunning even mainstream observes who hailed it as a proper success. This has created negative impact on the global businesses' environment for companies (Doh, Luthans and Slocum, 2016). The reduction trade is created positive impact on UK and EU because through both the country are able to make business relations in positive manner. This will help to increase economy of both country because through that they have permission to run business in another country. Through that businesses increase, sales increase and economy is also increased by paying taxes.

Reform the corporate tax: This is the another approach which is introduced by president trump at the marketplace. That is give impact on the economy of foreign economy. The reforming of taxes is creates various opportunity for businesses to make their effective and valuable growth of company in effective manner (Ferraro and Briody, 2017). In this economy of UK is increased because of higher tax rate. This provides reconciliation pursuant to work.

Foreign policy: The foreign policy is make focus on security by fighting terrorist which is affect the economy of EU because in that government of EU have to take various decision for protecting that. They have to use various equipments which are help to make proper focus on fighting with terrorists. This is not good and effective for completing businesses.

Tariffs is the another act which is stated by trumps to economy policy impact on the foreign economy. In that past UK first economy policy reduce the by US trade deficits by trade policy from multilateral free trade agreements (Shageeva and et.al., 2017). Another, trump imposed tariffs on solar panels which affect to China because goods imported form that and leading trade war. This will continuously decrease and china currently manufacture solar panels which is effect economy of China from losses.

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C. Discussing emerging economies presenting opportunity for global expansion.

Emerging market is provided the various opportunity to company and businesses in order to expand their businesses in other country. This help to make positive and effective market growth for businesses (Hamilton and Webster, 2018). Emerging market economies are nations whose economy is growing to becoming more and higher advanced but not yet classified as a developed country. Those are provided various opportunities for businesses in order to increase their sales by increasing attraction of more customers towards companies and businesses in global business environment.

Capture the growth of emerging market in portfolio:

as per the stated graph, many of the investors have a heavy country bias meaning they believe under the allocation of work and assets to missing out for long term opportunities.

Advanced use of technology: Emerging market is provided the opportunity to expand their businesses at global level because companies have most effective and valuable entity (Opportunities in emerging market, 2018). As per that, they are provided various technology to use in their business for complete their work. The uses of advanced technology is help to gaining higher growth for companies at market place. Through that businesses are able to promote their business at global level. For example: retail business is use various advanced technology than they are able to adopt work and growth at market place in effective manner.

Global innovation: In addition to that emerging market have begun to drive global innovation. In the other country customers have their own needs and wants like retail business wanted expand their business at global level than they have to analysis the needs and wants of customers and make innovative products for them is help to expand their business at global level (Peng, 2016). It is important for companies to emerging market they need to be aware of potential pitfalls other business have faced like the price of product and services offers in competitive position their offerings are more correct for attracting customers.

There are also hire lower price labour and eligible employees for working.

D. Fiscal and Monetary policy.

Trickle down economics proposition that taxes on the businesses and the wealthy in the society should be reduced as a means to stimulate business investment in the short terms and various benefits to society at the large and long term. There are two policies fiscal and monetary policy which are used by government for taking better and effective decisions for business.

Fiscal policy:

The fiscal policy is government decisions regarding the spending and taxing. In that government wants to manage the growth of country in the economy by increasing spending for goods and services. This help increase demand of products and services. As per the Trickle down economics taxes rate have to be lower (What is Fiscal policy, 2019). In this price of product is lower but profit margin is stable or decrease.

Monetary policy:

This is the decision a government makes regarding the money of supply and interest rate. This is the primary policy tool used is increasing or decreasing the supply of money in economy. This led increase the supply of money by buying government securities (Rowell, 2017). As per the trickle down theory tax rate is sets to lower, in that policy is already adjusted by lower and higher tax rate. This is effective and valuable for businesses to maintain their goodwill at marketplace.

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CONCLUSION

From the above study it had been concluded that the global business environment has provide the best and effective opportunities to businesses. This has very important for business to manage goals and objectives of business. Social media and their regulated laws give negative impact on firm by loss their goodwill. President trump made various approach to economic policy which impact of UK and China. The emerging market is provided various opportunities for business to maintain their growth factor in effective manner by using advanced technology. This has used the both fiscal and monetary policy to growth using Trickle down economics.

REFERENCES

• Adekola, A. and Sergi, B. S., 2016. Global business management: A cross-cultural perspective. Routledge.
• Aithal, P.S., 2017. Impact of Domestic, Foreign, and Global Environments on International Business Decisions of Multinational Firms: A Systematic Study. International Journal of Management, Technology, and Social Sciences (IJMTS). 2(2). pp.93-104.
• Doh, J. P., Luthans, F. and Slocum, J., 2016. The world of global business 1965–2015: Perspectives on the 50th anniversary issue of the Journal of World Business: Introduction to the special issue.
• Ferraro, G. P. and Briody, E. K., 2017. The cultural dimension of global business. Routledge.
• Hamilton, L. and Webster, P., 2018. The international business environment. Oxford University Press.

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