2.8 Globalisation Flashcards
Globalisation
Globalisation is when the world is seen as a single market. This means that a country will concentrate on what it does well, import what it does not. Australia exports minerals, coals, education and production. It imports clothing, electronic equipments and cars.
The process by which businesses or other organisations develop international influence or start operating on an international scale.
Why do overseas competitors need to be considered by business owners during the planning stage.
A business in its planning stages needs to consider overseas competitors because they need to see how they can compete. If they can not compete on price then they may need to look at options like getting the better customer support and indicating that they are locally responsible because they employ local labour.
They have to make sure their product appeals to potential customers more than their competitors’
How can a business compete against overseas competitors?
To compete, a business needs to look at both price and service. If they can not compete on price then they may need to look at options like getting the better customer support and indicating that they are locally responsible because they employ local labour. Or supply their products quicker and provide a faster repair service.
