Globalisation

Question 1

Define globalisation

Answer 1

Selling goods internationally

Question 2

Advantage of globalisation

Answer 2

More profit, brand exposure, quality adaptation, wider market, more customers

Question 3

Disadvantage of globalisation

Answer 3

Transportation, cultural differences, language barrier, law difference, financial risk ( change in currency ), taxes and tariffs, permission

Question 4

Define multinational

Answer 4

A business with operation in more then one country

Question 5

What happens with expansion

Answer 5

Some businesses spread as they become popular into other countries

Question 6

Advantages of going multinational

Answer 6

Wider target market, cheaper labour may be available, good reputation

Question 7

Disadvantages of going multinational

Answer 7

Loss of focus on key markets, language : culture, unsure regarding profit, may damage reputation

Question 8

Define tariff

Answer 8

Tax or cost on imports or exports

Question 9

Define protectionism

Answer 9

Protecting goods and services coming into the countries