Answer: Increased competitions from firms in other nations is an example of the Global Environment.
What is Global Environment?
- The global business environment will be defined as the environment in several sovereign countries, with factors exogenous to the house environment of the organization, influencing deciding on resource use and capabilities.
- Every national economy is integrated with the global economy in some way. Internal trade relations, imports, exports, trade agreements between nations, etc. are all examples.
- The global environment is very important for both nations and businesses because it offers a comprehensive platform to achieve more consumers of a product or service.
- It ensures the expansion and development of states and businesses. It improves the economic status of countries and fosters a decent account with other nations.
Thus the correct answer would be Global Environment.
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