Topic: Strategic management in a new global scenario

Demand change for consumer goods is caused mainly by changes in disposable income and lifestyles. Demand changes are also influenced by the competition and marketing strategies of firms. There is also an intense concern and compulsion for Corporate Values and Social Responsibility due to socio-economic impacts caused by rapid industrial growth, competition, and Government intervention in the contemporary business world. Thus, the old concept of business which rested on profit maximization later shifted to customer satisfaction and long-term welfare. The business philosophy has gone further to embrace the "Three Ps", People, Planet and profits. Thus, opportunities, innovations, and competition have to be managed within this new framework.

Task 1. Provide rational critical analysis of how globalization and international trade caused an increasing influence on business ethics and social responsibility in the contemporary business world

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Task 2 Strategic capability, competitive advantage, and superior customer services are considered the three strategic pillars of sustainable growth of a business organization. What are the critical impacts of demand changes on the said three elements?

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