3. Factors of Social change
affecting Business
• Culture
• Technology
• Population
• Environmental
• Modernization
4. Business with culture
• New norms, values, attitudes,
beliefs, preferences, language.
• Interest toward material well-being.
• People in underdeveloped countries are short-sighted
and look for quick return. Mostly involved in government
jobs and security. Nepal, India, Bangladesh.
• Developed countries do investment and attracted toward
innovation.
5. Business with Technology
• New type of economic organizations; factories,
industries, agencies, banks become globally.
• Technology has given birth to capitalism.
• Inventions, discoveries, innovation.
• Satisfy mass demand globally.
• Division of labor and specialization.
• Unemployment, economic depression etc.
6. Business with Demography
• Age, occupation, size, quality etc.
• Customs, traditions, institutions etc.
• Migration from rural to urban (hilly to terai).
• Mortality, fertility, birth rate etc.
• Education
7. Business with Environment
• Natural calamities; flood, earthquake, landslides etc.
• Natural raw materials and resources.
• Climate conditions
• Geographical properties; plain, hilly, mountain, desert
area etc.
• Access to waterways
8. Business with Modernization
• Industrialization
• Use of mass media
• Freedom for choice ; education, occupation, lifestyle,
religion etc.
• Diverse society
9. Business with politics
• Political stability
• Government regulations
• Pressure group; Human right, labor union, farmer
associations
• Political system
10. Conclusions
• A business must utilize and adapt to its social
environment, or it will not survive. A business must be
keenly aware of the society and its factor’s affecting
business.
• Hence, socio-cultural change should be the major
consideration for a business to be successful.
