The Most Challenging Aspects of Today's Global Business Environment Essay

The Most Challenging Aspects of Today's Global Business Environment - Essay Example Today, social networks have created an information age, where businesses need to be part of the evolving network to succeed (Castells, 2010). In with the changes, the paper seeks to identify the most challenging aspects of today’s global business environment and the opportunities that exist in them for business operatives. Johansson and Leigh (2011) cited the penetration levels of multinational companies into the BRIC markets as a typical scenario of the growing importance of emerging markets in today’s global business environment. As a result of the concentration, business leaders are forced to follow the new flow of social influence by also making meaningful impacts in emerging markets (Dholakia and Talukda, 2004). On the opportunities that emerging markets present, Wilson and Purushothaman (2003) made mention of conducive political provisions that exist in most of these markets as a way of making them globalised destinations for foreign direct investments. There are also economic incentives including tax holidays and access to government supported loans (Crane, Kawashima and Kawasaki, 2002). Even more, consumers in emerging markets have become part of a global consolidation that has developed a new twist to consumer behavior, where the preference for quality forces companies to optimise thei r potentials (Gupta, 2011). The opportunities notwithstanding, there are key challenges that most emerging markets present multinational companies and other companies in the global business environment. For example, the use of superimposition, which for a long time was seen to be a major advantage for companies have been cautioned by Featherstone (1991) as having major disadvantages in any competitive global engagement. Again, the economic growth pattern of most of these emerging markets has been questioned by Smith (2014) and The Economist (2013) as being unsustainable but rather short-lived. This is because in