Global Context

Question 1

Globalisation

Answer 1

The increased integration and interdependence of national economies OR the world coming together to trade in each other’s markets.

Question 2

Multinationals

Answer 2

A business that has activities and operations in more than one country (operates in/has branches in more than one country) e.g. McDonalds, Microsoft, Shell

Question 3

LEDC’s

Answer 3

Less economically developed countries.

Question 4

MEDC’s

Answer 4

More economically developed countries.

Question 5

Strategy

Answer 5

A plan of action.

Question 6

Global Strategy

Answer 6

Companies that are keen to operate on a global scale must consider how to build a competitive global advantage i.e. choose the best locations to produce products in.

Question 7

Brand

Answer 7

A distinctive product often created by the use of a logo, symbol, name, design, packaging or combination. The key in designing and building a brand is to differentiate it from competitors.

Question 8

Global Brand

Answer 8

Global brands are brands that are recognised throughout much of the world.