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General Environment of Business

The general environment in which a firm exists is demographic, economic, global, political/legal, technological and sociocultural. Using the company Verizon wireless, apply the analytical techniques for monitoring the general environment.

Discuss one key trend from each of the categories from the General Environment segments that will likely have a significant impact on the industry in the next five years. Explain clearly why you think this trend will be important, in a sentence or two, with each of the six items.

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General Environment of Business
The general environment in which a firm exists is demographic, economic, global, political/legal, technological and sociocultural. Using the company Verizon wireless, apply the analytical techniques for monitoring the general environment. Discuss one key trend from each of the categories from the General Environment segments that will likely have a significant impact on the industry in the next five years. Explain clearly why you think this trend will be important, in a sentence or two, with each of the six items

Verizon Communications, Inc. (NYSE: VZ) is an American broadband and telecommunications company and a component of the Dow 30. It was formed in 2000 when Bell Atlantic, one of the Regional Bell Operating Companies, merged with GTE. (Wikipedia)
Environmental Analysis

Environment analysis is a comprehensive analysis of the internal and external environmental factors affecting an organization. A wide range of influences surrounding businesses can affect organizational decision making powers, strategies, process and performance. Knowledge and review of these drivers of change in business environment are very important to companies.
Global Factors
There is an increase in global trade or globalization around the world. This is forcing the company to expand and set up operations in new and emerging markets around the world, such as the fast growing economies of China and India. The ever increasing globalization is also enhancing the competition and is putting increased pressure on Verizon in terms of innovation, cost and quality related issues.

This does not mean one customer, one world, one brand or one positioning platform. What it means is that thanks to Microsoft, the expectation of a customer from Infosys (Indian software firm) is considerably higher today. Similarly, thanks to LG and Samsung, the expectations from BPL are different today. A convergence of expectations is happening globally. And as barriers fall further, technology advances rapidly, customers talk more to each other on the back of a robust telecom network, the ranks of the Universal Customers will only swell. To meet the challenge of simultaneously reducing cost and enhancing customer value requires a radically different approach to the way the business responds to marketplace ...

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This explains the general environment of business

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