Globalisation (Cam) Flashcards
Define Globalisation
Trend toward greater economic, cultural, political and technological interdependence among national institutions and economies.
What is a Globalisation of Markets?
Convergence in buyer preferences in markets around the world
What is a Globalisation of Production?
Dispersal of production activities worldwide to minimize costs or maximize quality
What are the benefits of Globalisation of Markets?
- Reduces marketing costs
- New market opportunities
- Levels income stream
What are the benefits of Globalisation of Production?
- Access lower-cost labor
- Access technical expertise
- Access production inputs
What are the characteristics of Globalisation in regards to the Global Business Environment Model?
- Tech. innovation
- Increasing competition
- Falling trade/FDI barriers
Does Globalisation lead to more Job opportunities?
Yes. This is considered the major benefit of globalization. Companies are setting up shop in new countries creating opportunities for employment. What is more, people are able to migrate easily further creating opportunities for better jobs.
