Final answer:
Technological advancements, specifically the growth of the internet, and globalization have fundamentally changed the business environment by augmenting competition and connecting global markets. This has impacted both consumers and businesses by eroding geographical limitations and increasing the global reach of business transactions. In parallel, a shift from manufacturing to service industries and decreased unionization due to protective workplace laws are also notable changes.
Step-by-step explanation:
Recent changes in the contemporary business environment can be primarily attributed to two significant forces: technology and globalization. The astonishing advancements in communications technology, specifically the blossoming of the internet, have revolutionized the way consumers and businesses interact. Consumers now have the luxury of ordering products such as books or pet supplies from virtually anywhere across the globe, intensifying competition for local retailers.
Similarly, this transition has been profound in the realm of business supplies—where business-to-business platforms enable transactions between international buyers and suppliers, once limited by geographical constraints.
Furthermore, the business landscape is witnessing a pivotal shift from traditional manufacturing to service industries, compounding the effects of globalization. International competition has surged, pressuring domestic businesses to adapt to a borderless marketplace. Concurrently, the relevance of labor unions has seen a decline, likely due to enhanced workplace protection laws which render some traditional functions of unions less critical than in the past.