TOPIC 6 Flashcards
1
Q
What is an example of a bank using CSR?
A
The Santander foundation makes donations to small charities in the UK that help disadvantaged people
2
Q
What is globalisation
A
Increasing international network, singular economies are increasingly linking
Businesses develop international influence and start operating on a national scale
3
Q
What are the effects of globalisation?
A
- UK providers face more competition from overseas providers as they can offer lower costs. The increased competition would mean that customers can enjoy better services and lower prices
- UK providers may decide to expand overseas and they would need to decide on how much of their resources they keep in the UK as a result customer could see a reduction in quality.
4
Q
What is outsourcing ?
A
When one business pays another to carry out jobs for them
5
Q
What is offshoring ?
A
Moving some of a businesses operations to overseas locations
6
Q
How are financial providers affected by the global economy?
A
- countries trade with each other and many British jobs depend on the demand abroad, the financial industry is a major export industry for the UK
- as a result of globalisation financial providers may find themselves in competition with with businesses based overseas. This means that there strategies will have to take into account what is happening abroad
7
Q
How do exchange rates impact the economy ?
A
6.
