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globalisation international business
A LevelBusiness~4 min read
Overview
This lesson explores the interconnectedness of global economies through globalisation, examining its drivers, impacts, and the various forms of international business activities. Students will understand how businesses operate across national borders and the challenges and opportunities this presents.
Understanding Globalisation: Drivers and Characteristics
Globalisation is a multifaceted phenomenon driven by several key factors. **Technological advancements**, particularly in communication and transportation, have dramatically reduced the costs and time associated with international transactions. The internet, containerisation, and air freight have ma...
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Key Concepts
- Globalisation: The increasing interconnectedness and interdependence of countries through the movement of goods, services, capital, technology, and people.
- International Business: Commercial transactions that cross national borders, including trade, foreign direct investment, and licensing.
- Multinational Corporations (MNCs): Businesses that operate in two or more countries, often with a global strategy.
- Foreign Direct Investment (FDI): An investment made by a firm or individual in one country into business interests located in another country.
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Exam Tips
- →When discussing globalisation, always provide both positive and negative impacts, linking them to specific stakeholders (e.g., consumers, businesses, governments, workers).
- →For international business entry modes, be prepared to explain the advantages and disadvantages of each method (e.g., exporting vs. FDI) in different scenarios.
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