4.6 Global issues

Question 1

What are factors to consider when moving into the Global Economy

Answer 1

• Overseas competitors
• Overseas markets
• Offshoring labour
• Exchange rates
• Online sales

Question 2

Explain overseas competitors

Answer 2

Australian businesses have to be able to compete with businesses within Australia and overseas, whether this is importing or exporting goods.
Many countries have different laws, practices and regulations that may give other businesses a competitive advantage over Australian businesses

Question 3

Explain Overseas markets

Answer 3

Australian businesses must be able to move into overseas markets in order to expand markets and customer bases.
A business wishing to establish itself needs to ensure it have an understanding of the different requirements and regulations that cover that particular business.