The global Political, Economic, Sociocultural, Legal, and Technological, environment impacts leadership and management’s perspectives and decision-making. Risks must be carefully evaluated prior to decision-making for entry into markets or creation/revision of organizational strategies.
Instructions: Please include statistics and cite your scholarly source(s) within the paragraph(s). Provide an APA 7 Reference section. The textbook and lecture notes provide foundation and are obviously a creditable source. Consider the textbook as foundation; however, do not limit your responses to just the textbook. Consider (but do not be limited to) the following sources — the Financial Times, The Economist, Wall Street Journal, East Asia Economic Forum, Global Times, Bloomberg News, Goldman Sachs podcasts, BBC News, Indian Economy.
(HINT – Professor appreciates a basic definition of terms and credible source to substantiate definition. The textbook (Deresky, 2017) is suitable. Provide one-two sentences defining each environment).
Please discuss and substantiate the following:
1. Define and explain the risks involved in the global political, economic, sociocultural, legal, and technological environments. There are several risks. List 3 risks for each of the 5 environments. In your discussion, provide EXAMPLES of risks linked to the chosen risks. CITE
2. Specifically, what can managers/leaders do to manage/mitigate the risks you have chosen? CITE or indicate that information is based on experiential knowledge.