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1.10 - Globalisation & ICT - Coggle Diagram
1.10 - Globalisation & ICT
Impact of Globalisation
Increased dependence on global economy
Freer movement of capital, good & services
Increased international trade
Fewer barriers to trade
Terms
Globalisation is the process in which the world becomes interconnected as a consequence of increased trade and cultural exchange
TNC - This is a transnational company, it operates in many countries around the world with parent company located in one country
Reasons for Globalisation
Improvements in technology
Freedom of trade
Economies of scale
Transport improvements
Consumer demand
Availability of labour and skills
Positive impacts of Globalisation
Choice
New experiences
Employment
Spin off Effects
Ecommerce Benefits
Greater choice
Detailed information on product
Convenient
Reviews by customers
Negative Impacts of globalisation
Crowding out
Benefits the rich more than the poor
Environmental Impacts
Global brands dominate
Ecommerce Drawbacks
Fraud
Human Interaction
Returning goods