Business-2.4-Globalisation

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Business globalisation phrase description
George Benson
Flashcards by George Benson, updated more than 1 year ago
George Benson
Created by George Benson over 6 years ago
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Globalisation The trend for markets to become worldwide in scope(when a company has different parts manufactured or all parts processed in different countries)
Economies of scale When a business's unit costs of production fall as its output rises and the business expands( the more the business produces the item costs.
Multinational company (MNC) (transnational corporations) A company that produces goods and services in more than one country,not just its own,meaning it has expanded globally.
Takeover When one business buys control of another,generally when it is competing and under threat of obsolescence.
International Trade When businesses trade goods and services internationally
Product Design When products are made for what the customers satisfaction and needs,not the businesses needs.
Inward investment Where a company has been invested in,this can be confused with the company investing,although inward investment is occurring to the company being invested in.
Product Design Finding out what consumers want, then design and making a product to meet customer needs.
Exchange Rate How much £1 is worth compared to another currency.such as Euro or Dollar)
Quality How well your customer perceives your product to have been made or the level of service they feel they have received.
Exports Goods and services produced by a business in this country and sold to a different country.
Imports Goods and services purchased from overseas by consumers and business in this country.
Price The amount of money a business asks customers to pay for a product.
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