7.1 - Globalization
- Created by: Amy_Hut
- Created on: 18-03-21 17:47
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- Aim to develop recognisable 'brand'
- Employ one marketing strategy
- Generates economies of scale
- Reduces costs
- Generates economies of scale
- Global Marketing
- Globalisation
- Distribution & Consumption
- Goods made in LICs/NEEs exported & sold to HICs
- As NEEs develop, their demand is similar to HICs
- Predicted that:
- Consumption will drive trade more than production locations
- Fastest trade route will be between India & China
- Asia will export more of its products to other Asian nations
- Consumption will drive trade more than production locations
- Predicted that:
- As NEEs develop, their demand is similar to HICs
- Goods made in LICs/NEEs exported & sold to HICs
- Trade Agreements
- Advantages of trading entities
- Global scale
- Help members develop their economy
- Improve standard of living
- Increase global trade & co-operation on trade issues
- Improve global peace & security
- Reduce conflict
- Help members develop their economy
- Regional scale
- Share technology
- Bigger representation in world affairs
- Allow freedom of movement of trade
- Raise education and healthcare access
- Global scale
- Advantages of trading entities
- Factors in Globalisation
- Financial
- Deregulation of financial markets
- Allowed for removal or relaxing of barriers
- High speed electronic trading systems & global connectivity
- Transactions completed quickly & securely
- Improved communications technology
- Made international trading easier & faster
- Deregulation of financial markets
- Transport
- Security
- Initiatives introduced to alleviate threats
- E.g. World Customs Organization & EU
- Supply chain security
- Food & bio-security
- Initiatives introduced to alleviate threats
- Management & Information systems
- Internet
- Virtually free telecommunications & video conferencing
- Integrated ICT management systems
- 'Just in time' technology
- Production is led by customer orders rather than to build stock
- Systems for remote management & cost efficiency
- Out-souring more
- Internet
- Financial
- Distribution & Consumption
- Globalisation
- Employ one marketing strategy
- Generates economies of scale
- Reduces costs
- Patterns of Production
- In 1954 - 95% of manufacturing was in industrialised economies
- Europe, North America & Japan
- Decentralisation
- Result of TNCs
- Globalisation
- Distribution & Consumption
- Goods made in LICs/NEEs exported & sold to HICs
- As NEEs develop, their demand is similar to HICs
- Predicted that:
- Consumption will drive trade more than production locations
- Fastest trade route will be between India & China
- Asia will export more of its products to other Asian nations
- Consumption will drive trade more than production locations
- Predicted that:
- As NEEs develop, their demand is similar to HICs
- Goods made in LICs/NEEs exported & sold to HICs
- Trade Agreements
- Advantages of trading entities
- Global scale
- Help members develop their economy
- Improve standard of living
- Increase global trade & co-operation on trade issues
- Improve global peace & security
- Reduce conflict
- Help members develop their economy
- Regional scale
- Share technology
- Bigger representation in world affairs
- Allow freedom of movement of trade
- Raise education and healthcare access
- Global scale
- Advantages of trading entities
- Factors in Globalisation
- Financial
- Deregulation of financial markets
- Allowed for removal or relaxing of barriers
- High speed electronic trading systems & global connectivity
- Transactions completed quickly & securely
- Improved communications technology
- Made international trading easier & faster
- Deregulation of financial markets
- Transport
- Security
- Initiatives introduced to alleviate threats
- E.g. World Customs Organization & EU
- Supply chain security
- Food & bio-security
- Initiatives introduced to alleviate threats
- Management & Information systems
- Internet
- Virtually free telecommunications & video conferencing
- Integrated ICT management systems
- 'Just in time' technology
- Production is led by customer orders rather than to build stock
- Systems for remote management & cost efficiency
- Out-souring more
- Internet
- Financial
- Distribution & Consumption
- CS = Detroit
- In 1954 - 95% of manufacturing was in industrialised economies
- Decentralisation
- Result of TNCs
- Government Support
- Government objective is to increase exports
- Governments at national level will have departments with ease of exports as function
- E.g. UK Trade and Investment (UKTI)
- Offer support/advice on all aspects of trade
- E.g. UK Trade and Investment (UKTI)
- Governments at national level will have departments with ease of exports as function
- Dry ports encouraged in developing countries
- Inland ports and nearer to businesses
- Save time and money on transport
- Inland ports and nearer to businesses
- Government objective is to increase exports
- Governments at national level will have departments with ease of exports as function
- E.g. UK Trade and Investment (UKTI)
- Offer support/advice on all aspects of trade
- E.g. UK Trade and Investment (UKTI)
- Dry ports encouraged in developing countries
- Inland ports and nearer to businesses
- Save time and money on transport
- Inland ports and nearer to businesses
- Products and commodities can be shipped quicker & in larger quantities
- Increased aircraft size
- Growth of low-cost airlines & air freight
- Standardised containers
- Spatial separation
- High order business at HQ, low order at hubs around globe
- Loss of some sovereignty
- Decisions are centralised
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