4.2 Global Markets and Business Expansion Flashcards
1
Q
Offshoring
A
Relocation of business function, usually manufacturing or customer services, to a location overseas
2
Q
Outsourcing
A
Business function is contracted out to a third party e.g payroll, delivery, call centres
3
Q
Joint Venture
A
Two businesses come together to collaborate on one project, remain as separate businesses (short term)
4
Q
Merger
A
Two businesses come together to become one business (long term)
5
Q
Exchange Rate
A
The price of one currency expressed in terms of another currency
