The way in which countries become increasingly connected to each other.
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Outsourcing =
Using people from other countries to provide cheap services
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TNCs --- FDI
Trans ~ National ~ Companies ( E.G Nike ) --- Foreign~Direct~Investment
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Reasons for India's rapid growth :
foreign direct investment - Transport - Technology - Liberalisation - Location
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Why TNCs invest :
Labour is cheaper - lots of qualified people who speak English - Large available workforce - Many technically skilled graduates.
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3 types of Outsourcing -
Call centres > Software development > Administration.
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Footloose =
Can locate anywhere , no ties.
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Outsourcing - Benefits -
Educated workers in developing countries can be highly skilled - Allows companies to move admin tasks and focus on development - Can allow companies to develop new ideas from a new perspective.
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Outsourcing - Costs -
Communication errors ( Language/ time differences) - Cross cultural differences may influence decisions - Workers in developing countries paid less
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Multiplier effect =
Core regions get richer as development occurs.
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Other cards in this set
Card 2
Front
Outsourcing =
Back
Using people from other countries to provide cheap services
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