Challenges of Business in the 21st Century

2.0 Business challenge in the twenty-first century
The twenty-first century is the centuries that are transforming the world into the future beyond recognition. It is known as the first century of the third millennium or current century of the Common Era. The twenty-first century is riding a wave of demographic changes that reshape the society and economy of countries around the world. There are many challenges to be faced by business owners which are consist of the economic, social, environmental, and political challenges that the world is bound to face in the twenty-first century. Therefore, business owners need to take risks to improve the economy of their companies (Rosenfeld et al., 2011).
Economic challenges have two points such as threaten

There are many advantages and benefits provided to individuals and institutions worldwide with financial innovation. However, the potential in financial innovation are been threatened by the global crisis and difficult the business to get the financial innovation for their business operation.. In addition, the West would face a lower pension benefits and the government will not be able to provide advantages on health care or pensions. The problems faced by western countries this is a global problem and should be addressed by financial institutions that are flexible. Changes in financial innovation will be a major focus in the financial system. Therefore, there are six important functions that have been listed by the economist Robert Merton in the financial system,

Businesses have a very strained relationship with that individual consumers, lenders, investors, and employees. This relationship became strained because of the global economic crisis and the general public in the United cynical business. The challenges faced by businesses in the twenty-first century will affect the community due to the strained relations. Therefore, countries need to rethink the health care community, to repair the social contract, and long-term financial position of the society. The countries need to give impetus to businesses to do business in the twenty-first century to solve the problem (Rosenfeld et al.,