Definitions Flashcards

1
Q

What is global shift

A

The changing geographical location of the worlds manufacturing industries

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2
Q

What is glocalisation

A

When global brands adapt their products for a local market, while still retaining their original identity

McDonald’s vege burger in this India

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3
Q

What is outsourcing

A

Hiring an external company to perform a service or create a good

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4
Q

What is a quota

A

A limited quantity of a product which can be imported or exported

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5
Q

What is a taxation

A

A mandatory contribution to state revenue

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6
Q

What is a tariff

A

A tax imposed on imported goods and services used to restrict trade

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7
Q

What is a trade bloc

A

An agreement between regions or countries to reduce barriers between them

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8
Q

What is a TNC

A

A company that operates and has influence in many countries

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9
Q

What is foreign direct investment

A

Investment from one country into another, by companies other then governments

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10
Q

What is the International Monetary Fund

A

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

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11
Q

What is globalisation

A

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

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12
Q

What is marketing

A

The process of promoting/adverting and selling products or services

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13
Q

What is economies of scale

A

A proportionate savings in costs gained by an increased level of production

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14
Q

What are conglomerates

A

A collection of different countries

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15
Q

What is a global marketer

A

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

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