Chapter 1 discusses the dynamic business environment in which businesses operate. The following figure, Figure 1.3 from your textbook, illustrates the various environments in which businesses operate and compete.

Chapter 1 discusses the dynamic business environment in which businesses operate. The following figure, Figure 1.3 from your textbook, illustrates the various environments in which businesses operate and compete. As we are learning this week, 50% of the United States' gross domestic product (GDP) is created by small U.S. businesses that are competing with other businesses all around the world. Based on what you are learning this week and what you have experienced as a consumer, what do you see as some advantages and disadvantages for small U.S. businesses competing in today's global markets? Be sure to give an example with your response