L5 - Road to success Flashcards
What is the definition of privatisation?
Privatisation means the transfer of assets from the public sector to the private sector.
What is the definition of globalisation?
When businesses or other organisations develop international influence or start operating on an international scale.
What is the definition of free trade?
International trade with no tariffs, quotas or restrictions.
What is the definition of TNCs?
Transnational Corporations, companies that operate in several countries.
How has the privatisation of industries benefited TNCs?
TNCs have been able to invest in utilities, electricity generation and even bid for NHS contracts.
What proportion of the staff were made redundant in Nissan in 2009?
1/4
What does the company Nissan do?
Nissan is a Japanese company which has become one of the most productive car plants in the EU
Which countries within the EU had significantly lower FDI than the UK?
France, Germany and Italy
How will Nissan be impacted due to Brexit?
If the UK loses tariff-free access to the single market, investment in the plant will be cut.
How has the UK successfully attracted investment from companies?
The UK has successfully attracted investments from companies who are wanting to get a foothold in the EU single market. Globalisation has also helped with this.
Where did Nissan pick the site for the new car factory?
Nissan picked Washington, near Sunderland in the north east of England.
How many people were employed by Nissan in 2009?
4900 workers were employed
What does the rise in FDI in the UK represent?
The rise in FDI in the UK represents an increase in the role of TNCs in the UK economy.
