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GLOBALISATION - Coggle Diagram
GLOBALISATION
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Lower costs (technology) cost, meaning a business can produce more for less
When operating across the globe, there may be problems of people speaking different languages or not being able to use the best communication methods
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Expertise, Skills and Knowledge
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The risk of failing is spread and reduced as businesses have a higher demand from lots of different countries.
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Tax Avoidance by locating in lower tax countries, reducing costs.
Access to more workers in foreign countries, improving productivity.
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Any brand image must be easily translated into different languages, but still retain the same message
Product names needs to be understandable in different countries. They may also need to be changed, for example Burger King is called Hungry Jac’s in Australia as Burger King
A business needs to think about whether its product will be affordable in the country it’s building its brand in.
Businesses will need to obey the laws in the countries in which they operate. There may be laws about advertising, such as laws around advertising cigarettes in certain countries
Globalisation refers to how businesses in different countries have become
increasingly connected in their activities.