Please enable JavaScript.
Coggle requires JavaScript to display documents.
Competing in a global market - Coggle Diagram
Competing in a global market
Understanding the global trade environment
an economy with the capacity to work as a single unit on a planetary scale
Originated - flow of labour goods and money + info - IT increase and social networks
WTO - criticism for allowing countries with no human rights + democracy - does not mean local trade doesn't matter - Glocalisation - Demand for local produce + regional trade orgnsiations
Competition and trade among countries
comparative advantage - each country specialises in products which they can produce chaeaper
Diamond model - all countries are characterised by differences that contribute to comparative advantage - competitiveness depends on demand conditions, strategies an rivalry of firms + quality of related and supporting industries and infrastructure
summed - factor, demand, strategies and quality of industries/infestructure
Competition among business organsisations
five forces model
suppliers
analysing role of suppliers - relations of power between org and supplier
direct industry competitors
analyse the market share of orgs - degree of concentration of businesses + diversity among competitors
buyers
bargaining power
potential entrants - if good profits - there is space for more B's - + sunk costs -
substitute goods/servies
competition from substiutes