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Information Technology
Business have now adopted the uses the encroached information technologies like virtual realities, for instance here in Kenya we have online shopping sites including OLX, Jumia online among others. This is actually a new feature the business environment.
Competitive Advantage
This is the position a business stands out in the market as compared to the competitions. A most competitive business out do the weak business enterprises. Example is SAFARICOM Telecom which is the main player in telecommunication serving larger number of subscribers than other telecom networks this shows how it is in a good competitive position.
Franchises
Business are forming alliances in order to be competitive in the market place and as well as enhancing maximum profits too.
Amalgamations
Business are buying the entire assets of the other business and are assimilated by the current business. The original business looses its value and competitiveness. Example is the Tuskys and Nakjmatt scenario.
Elaborate Infrastructure
In the current times, there is good and elaborated infrastructure thus easy accessibility. This has enabled businesses being erected anywhere despite the distance due to the reachability feature that exists as a result of good infrastructure. Unlike in the recent times where certain businesses were being established near raw materials or the ready market, nowadays, businesses have the freedom of getting established anywhere.
Community Involvement
In the current business environment, the local people have to be involved in the business running for it to be successful. The desires and dislikes of the local people have to be put in consideration before a business is established so as not to violet the set policies empowering community participation in business activities.
Environmental Conservation
In the current business environment, each business entity has a crucial responsibility of ensuring that they do not pollute the environment and also take part in environmental conservational practices. They should also register with the management of the Environmental Impact Assessment
vindori answered the question on March 18, 2018 at 14:01
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