Discussion Post: Socio-Cultural Environment
As society and culture change, a business must adapt to stay ahead of its competitors and remain relevant in the minds its stakeholders. Such changes include changes in customer preferences in response to shifting trends and generational differences, demographic changes, and innovations in goods, services, and social media. For this forum:
a) Reflect on the various potential changes of socio-cultural factors.
b) Identify one specific factor and identify a company that illustrates positive adaptation to that factor to stay relevant and successful.
c) Describe how the company has responded positively.
d) Then identify another company (NOT your "worst" company in Assignments) that has failed to prosper due to a change in a socio-cultural factor and why.
e) Discuss and compare these two companies, one succeeding - one failing.
f) What conclusions can your reach?
The response should include a reference list. Using one-inch margins, Times New Roman 12 pnt font, double-space and APA style of writing and citations.