Abstract
Socio-economic factors play a key role in shaping the business environment of an enterprise, influencing its stability, development and competitiveness. These factors can be conditionally divided into macro- and micro-levels, where each of them has its own specificity and power of influence. Macroeconomic factors include the inflation rate, the state of economic growth, the exchange rate, the unemployment rate, and government policy. Economic growth contributes to an increase in the incomes of the population and investments, which has a positive effect on business. Social factors include demographic changes, educational attainment, cultural characteristics, and social values. Demographic changes, such as population aging or migration processes, affect the size and structure of the labor market and the consumer market. Cultural characteristics and social values shape consumer behavior and preferences, which is important to consider when developing marketing strategies. Political stability and the legal framework also have a significant impact on the business environment. Political instability can create risks for investors and lead to unpredictable changes in regulatory policy. Instead, a stable political environment promotes predictability and long-term planning. The development of technologies and their implementation in business processes is another important factor. Innovative technologies can significantly increase production efficiency, reduce costs and open new sales markets. Enterprises that actively implement the latest technologies have a competitive advantage and can quickly adapt to changes in the business environment. Thus, socio-economic factors have a complex impact on the formation of the enterprise’s business environment. For successful functioning and development, enterprises need to constantly analyze and adapt to changes in the external environment, taking into account both macroeconomic and microeconomic aspects. This will allow not only to maintain a position in the market, but also to find new opportunities for growth and development.
Published Version
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