globalisation Flashcards
1
Q
what adaptions may be needed if a business globalised
A
adverts (cultural) taste in design or food options language restrictions for meat names of food
2
Q
benefits of globalisation
A
more/ better sale can reach more of target market be more competitive access to cheaper (exchange rates) international specialisation transfer of knowledge increased brand awareness
3
Q
drawbacks
A
expensive because of research etc not good for small business competitors may have cheaper prices power form multinational brands industry closures + events effecting u increased responsibility more risk
4
Q
how will e-commerce be an advantage to growing a business globally
A
open 24/7 cheaper to operate more access to customers easy to sell to overseas customers can advertise cost effectively (email+social media)
