Cheaper and easier access to basic services and infrastructure, more job opportunities, market opportunities and opportunities for external economies of scale, higher incomes, better living standards, more stable economies.
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Benefits of Technological change?
New methods of production, Lower Costs, Higher profit margins, Higher productivity, Easier expansion/ diversification into new markets, Automation, New skills, Flexibility.
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Drawbacks of technological change?
Shorter product life cycles, Higher R&D costs, Monopolies and Barriers to Entry, Mergers and takeovers of smaller firms, Teething problems, Unemployment – incapacity to do the job, job insecurity.
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What is CSR?
is a business approach that contributes to sustainable development by delivering economic, social and environmental benefits for all stakeholders.
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Disadvantages of CSR?
Role of Profit - does not create immediately obvious financial gain. Competitive Disadvantage - Loss of Focus. Lasting Impact? - short-term fad in response to prominent scandals.
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What are the categories of CSR?
Environmental,Ethical and philanthropic (promoting the welfare of others)
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What is urbanisation?
Urbanisation is the increase in the proportion of people living in towns and cities rather than the countryside. Also, can be characterised as the movement from employment in primary sectors and towards employment in secondary and then tertiary sect
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Other cards in this set
Card 2
Front
Benefits of Technological change?
Back
New methods of production, Lower Costs, Higher profit margins, Higher productivity, Easier expansion/ diversification into new markets, Automation, New skills, Flexibility.
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