Final answer:
Global business operations are influenced by external factors that include increased competition due to connectivity, potential improvement in the standard of living, but also challenges such as the loss of local culture and the rapid spread of pandemics. Multinational corporations significantly impact developing nations' politics, workers, and environments, while globalization's implications reshape trade patterns and practices like outsourcing.
Step-by-step explanation:
The benefits and challenges to global business operations from external factors involve a range of considerations. Globalization has expanded connectivity, allowing businesses to reach international markets and collaborate across borders effortlessly. However, this has led to increased competition as firms are not only competing locally but also with companies around the world, raising the standards and pressures on businesses to innovate and be more efficient.
On the positive side, businesses have the potential to improve the standard of living by offering new jobs and technologies in different regions. Conversely, global business operations can cause local cultures to be overshadowed by dominant global trends, and health pandemics can quickly become global issues due to interconnected economies and travel.
Additionally, multinational corporations affecting politics, workers, and environments in developing nations, and the various implications of globalization, such as outsourcing and free trade zones, are critical aspects of today's business challenges and benefits. These factors can lead to changes in global trade patterns over time and require careful analysis to fully understand the impact on global business operations.