Topic One Flashcards
Flows Of Capital
The flow of all money for investment. Investment in land, trade etc
Flows of Labour
People moving to seek employment opportunities. Want to improve their quality of life
Flows of products
Manufactured goods - Normally things made in factories
Flows of services
Economic activities that are traded without the production of material goods.
Flows of information
Cultural ideas, knowledge, language, research and design
What is marketing the process of
Promotion of services or products
Selling of services or products
Advertising services or products
What do companies view the world as
One single market
Company employs one marketing strategy. Ultimate aim is
Uniform Products
Sold in the same way
EVERYWHERE
What has globalisation created
New international division of labour
Developed countries have
Concentration of higly skilled, highly paid, decison making and manegerial occupations
Developing countries have
Concentration of labour intensive, unskilled and poorly paid assembly workers
What has accelerated rates of globalisation
Technologies
Relationships
Systems
Factors affecting globalisation
Travel: Increase business and tourism travel
Global Marketing: Rise in the significance of global brands e.g. McDonald’s
Transport: Faster transport by air, road, and rail
Migration: Ideas and information spread by the movement of people
Communications Technology
Few barriers to prevent people from sharing information globally.
60% Of people have access to the internet.
4.5 billion internet users worldwide
Use of mobile phone especially in LDEs as they will be able to access the market. Start selling things - individual economic gain. 7 billion phone subscribers worldwide
Internet allows 24/7 communication
Financial Systems
High speed electronic transmissions of money will mean businesses will be able to tade money faster and in a secure way. Influence people to use it.
The government backed off and allowed the financial groups to take control as they have more knowledge
Transport Systems
Products can be shipped more quickly and in larger sizes. So we are able to move large amounts of product
Increase size of planes and better integrated air traffic - more planes in the sky which will cary more goods or peopel.
The use of standardised containers - sea, road, rail - Same size so we can use them anywhere
Security Systems
National boundaries are less of a barrier and are more easy to access more flows of people and products.
Food imports - ensuring all the food being imported meets the countries required safety standard. Coca-cola has to use a differnt recipe for coke in the UK as one of the sugars in the US version is illegal
Cyber crime - reliance on the internet with important things such as banking has led to more online crimes such as online fraud.
Biosecurity - Preventing the exposure of harmful chemicals or diseases spread by humans or animals that can cause death or disease. Cpvid-19 barriers were shut down in Australia to prevent people from getting it. Wouldn’t let anyone through unless they were vaccinated
