What is context

What is context - They need to weigh the competitiveness of...

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Lauren Brockmiller Dr. Barr BUS 101 The context of a business is what environment the businesses operates in. It’s important to understand this because decisions that businesses make must always consider context. There are 7 things that influence context: Competitive Environment, Economic Environment, Political Environment, Social Environment, Technological Environment, Ethical Environment, and Legal Environment. Taking these into consideration, a business must calculate each decision precisely.
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Unformatted text preview: They need to weigh the competitiveness of their competitors, they need to abide by changes in policies and regulations, take into consideration the attitudes of consumers, make sure they have the technological resources to pull this decision off, or make sure it is legal. A company must decide if they have the ability and power to make decisions and moves in the communities. Context is important in every business decision....
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