The assignment discusses Domestic and Economic Environment Review. However, there is a description of Global Business Investments. So, identify its economic environment and compare and contrast it using Rostow and Galbraith.
Domestic and Economic Environment Review – Global Business Investments
Using your chosen company’s (Walmart) domestic environment identify its economic environment and compare and contrast it using Rostow and Galbraith ( See the resources below). Theorists Rostow and Galbraith
Walt W. Rostow is best known for his theory of the Stages of Economic Growth, one of the major historical models. Rostow’s model postulates that economic growth occurs in five basic stages, of varying length:
VIEW VIDEO (Puchein, 2018, Transcript provided). The firm creates optimal agreements for clients’ international projects. We work closely with local legal counsel to keep projects moving forward in a timely fashion, and seek the assistance of international lenders to help finance these projects.
Domestic and Economic Environment Review – Global Business Investments
Summary of Rostow’s Stages of Economic Growth: Firstly, traditional society – This first stage characterized by subsistence level – basic farming, bartering. Secondly, preconditions for take-off – Industrial development has begun; has developed an international interest. Also, take-off – This is where level 2 has moved into busier.Additionally, concentrated activities in industrialization, with innovation exhibited in technology. Besides, drive to maturity– Longer sustained activity, developing infrastructure, diversifying business activities, industries, and increased focus on quality of life. Also, age of high mass consumption – Broad consumer demands are met by mass production.
Countries can be identified at different stages of Rostow’s model and are evolving at different rates. U.S. businesses might find this model informative when considering where to target their global ambitions. Developing areas of Africa exemplify Levels 2 and 3.
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