Enquiry Question 2 Flashcards
How do we measure globalisation
Flows-higher volume of international trade more migration
Technology-increased internet usage
Movements-increased international air tragic
Media-spread of global advertising
What are trade blocs
Exist for trading purposes brings economic strength and security to nations
Why have large parts of Africa bypassed globalisation
Corruption- pervades many African countries, meaning police and politicians can abuse their authority
What is outsourcing
The delegation of one or more business processes to an agreed standard
What are the advantages of outsourcing
Cost saving-the lowering of overall cost of the service to the business generated by lower wages in developing
Tax benefit-countries offer tax incentives to more manufacturing operations to counter high corporate taxes within another country
Access to talent-access to larger talent pool and a sustainable source of skills in particular in science and engineering
What are some disadvantages
Cross-cultural difference-people from different cultures have different ways of viewing the save problem and often this a cause for misunderstanding
Cost vs value-reduced costs may reduce customer service
What is offshoring
Where a company moves part of its operations to another country often because labour costs are lower
What is an environmental impact of globalisation
China-dongguan workers that work for wintek were poisoned by chemicals used to treat glass
Why is an economic impact of globalisation
Detroit was yet to replace large numbers of jobs lost when global shift led to the disappearance of many cities automobile industries
What is a social impact of globalisation
Around 2500 universities in China, India and South Korea award millions of graduate degree each year
What is neoliberalism
Restrictions on the way businesses and banks operate are lifted for example the deregulation of the city of London in 1986 removed large amounts of “red tape” and paved the way for London to become the worlds leading global hub
What is privatisation
When national services and infrastructure is sold to private investors in order to reduce government spending and to raise money
What is open door policy
Embrace globalisation whole still remaining one party
What are some benefits of the global shift
- Major investment in roads, ports, airports and power infrastructure China built 11,000 km of new motorways
- TNCs invest in training and skills development to improve workforce productivity
What are some costs of global shift
- pressure on natural resources
- low wages long working hours
- new developments tend to be unplanned and sometimes poorly built
