Use LEFT and RIGHT arrow keys to navigate between flashcards;
Use UP and DOWN arrow keys to flip the card;
H to show hint;
A reads text to speech;
26 Cards in this Set
- Front
- Back
|
BRIC |
emerging economies of brazil, russia, india and china
p18 |
|
|
factors of production |
components of production such as: labour, technology, land and capital
p13 |
|
|
FDI |
foreign direct investment p19 |
|
|
global inequality |
p59 |
|
|
globalisation of markets |
p12 |
|
|
globalisation of production |
firms are basing individual productive activities at the optimal world locations for the particular activities (offshoring, p13 |
|
|
international business |
p61 |
|
|
international income inequality |
p59 |
|
|
international trade |
p19 |
|
|
Moore's law |
p23 |
|
|
MNE |
multinational enterprise p37 |
|
|
offshoring |
p11 |
|
|
outsourcing |
p11 |
|
|
sovereign wealth funds (SWF) |
p33 |
|
|
UN (united nations WB (world bank) WTO (world trade organisation) |
p17-18 |
|
|
Review the main drivers of globalisation |
0 |
|
|
concerns regarding rapid globalisation |
0 |
|
|
Globalisation |
greater integration and interdependence of economies |
|
|
the globalisation of markets implies that national markets are merging into on huge marketplace
BUT what still needs to be considered? |
significant differences in culture, politics, economies. Adaptation of products, and strategies to local conditions to succeed. |
|
|
What are the two factors that seem to underline the trend towards globalisation?
How does the world look now? |
1) declining trade barriers 2) changes in communication, information and transportation technologies
enabled firms to view the world as a single market |
|
|
Consequences of globalisation |
world trade has grown faster than world output, FDI increased and imports are widly used |
|
|
technology advances in transport and ICT, no longer necessary to produce goods close to where they are consumed resulting in rapid increases of FDI |
0 |
|
|
technology advances especially embodied in the internet have helped firms to link their worldwide operations into sophisticated information networks |
tight coordination of worldwide operations |
|
|
more opportunites for international business in china an emerging economy |
0 |
|
|
benefits of globalisation hotly debated what does globalisation impact on negitively? |
jobs, wages, working conditions, poverty, income inequality, the environment and national sovereignty |
|
|
name some challenges of managing an international business? |
country differences, greater intensity of competition, increased likelihood of intervention by governements, home and host; added complexity of conducting transactions in different currencies |
