Question

Outline the importance of managing socie-economic and political environment in a country. (10marks)

Answer 1

For managing any country and its economy it is essential that the country has a stable government. A country without a stable governing power will always have threats of collapse either in their economy or in their people. Thus, there is high importance of maintaining a stable governing power in the country. A stable governing power will come by only with a good political system involving strong and healthy opposition and better political norms. Thus, a country where there are strong opposing parties and good political systems are the ones where there are high chances of maintaining a stable government. And only with a stable government, we have a chance of a healthy economy and thus a healthy and developed country. Hence, the political wellbeing of the country is important.

As far as the socioeconomic environment is concerned, It is second to none given its importance for any country. The socioeconomic environments depict the state of the social environment and the economic wellbeing of the country. Any country with a good socioeconomic state will have a decent per capita GDP, a good employment ratio and development benefits to their citizens. Hence, these are the factors, if available can ensure the stability of the country and its economy.

Hence, these are the reasons why it is important to ensure a healthy socioeconomic and political environment to manage a country effectively.