Definitions Flashcards
What is global shift
The changing geographical location of the worlds manufacturing industries
What is glocalisation
When global brands adapt their products for a local market, while still retaining their original identity
McDonald’s vege burger in this India
What is outsourcing
Hiring an external company to perform a service or create a good
What is a quota
A limited quantity of a product which can be imported or exported
What is a taxation
A mandatory contribution to state revenue
What is a tariff
A tax imposed on imported goods and services used to restrict trade
What is a trade bloc
An agreement between regions or countries to reduce barriers between them
What is a TNC
A company that operates and has influence in many countries
What is foreign direct investment
Investment from one country into another, by companies other then governments
What is the International Monetary Fund
188 countries invest in order to increases flank corporation
Secure financial stability for the world
Facilitate international trade
Promote employment
Create sustainable economic growth
Reduce poverty world wide
What is globalisation
WTO states, the process through which an increasingly free flow of, ideas, people, goods, services and capital lead to more integration between societies and economies
What is marketing
The process of promoting/adverting and selling products or services
What is economies of scale
A proportionate savings in costs gained by an increased level of production
What are conglomerates
A collection of different countries
What is a global marketer
A company sees the world as one single market, and creates recognisable products in different market places
-> coke
Develops recognisable brands and employs one marketing strategy
Goal is to sell the same product everywhere, having one marketing campaign which generates economies of scale