Topic > Verizon-MCI Case Study - 831

An economic environment is one in which the internal and external economic factors of a business market influence how a business operates. Some of these factors include employment, income, inflation, interest rates, productivity, and wealth distribution. They impact consumer behavior and are detrimental to the success or failure of a company in their domestic and global environment. Verizon-MCI's economic environment, domestically and globally, is essential to the company's sustainability. The company's internal environment, the United States, has developed much more than its global environment, China. While there is a difference between the progression of the two environments, Verizon-MCI has been able to withstand the limitations presented by each environment. According to the economist, the stages of economic development of Walt Whitman Rostow, the internal environment of Verizon-MCI, the United States, has progressed leads to the fifth and final stage of economic development, which is the era of mass production . At this stage, the country's economy thrives in capitalism, adapts to mass consumption and represents consumerism. The country's per capita income increased and consumers were able to gain control over consumption that exceeded basics such as food, shelter and clothing. There has also been a change in the composition of the country's workforce. The population of employees and specialized workers who have been able to "acquire the consumption fruits of a mature economy" has increased (Ferraro, 2010). The United States increased its concern for social welfare and urbanization took place. Additionally, the country has made progress with technology. This progression has allowed... in the center of the card... the heir of economic development. The United States is in the fifth and final stage of economic development and China is in the third. The United States has been able to be more profitable in its economic development than China. However, each country has been able to sustain some type of progress. The United States also had a succession with its social and environmental environments, which led to the country having one of the largest economies. China had to reposition itself, economically. It still has social and environmental problems that have caused the country's economy to grow at a slower pace than the United States. The country is making changes to its economic policies that encourage social and environmental changes. By applying these changes to its economic policies, China is attempting to move into the final stage of economic development.