Globalisation Flashcards
1
Q
Globalisation definition-
A
Globalisation- Expanding a business into other countries around the world
2
Q
Globalisation advantages-
A
- More profit due to more customers
- Brand Exposure
- The industry may be doing well abroad
- Could be able to get better premises
3
Q
Globalisation Disadvantages-
A
- Transportation costs
- Cultural differences
- Language barriers
- Charged more tax and tariffs to export goods
- Financial risk due to currency differences
4
Q
What is an exchange rate?
A
The rate one currency can be converted into another
5
Q
Advantage of a strong pound?
A
Imports are cheaper
6
Q
Disadvantage of a strong pound?
A
More expensive exports
