GCSE Globalisation Mind Map

GCSE Globalisation Mind Map

1. Consumers

   • Benefits
     • Variety of products and services and a larger range of goods/service providers
     • Increased competition can lead to better value

2. For N.I

   • Benefits
     • Building relationships with countries around the world
     • Opportunity to trade on an equal basis with countries all over the world
     • Attracting investment in Jobs/communities
   • Drawbacks
     • More competition for local businesses
     • Transport arrangements can be expensive and take time to organise, businesses will be losing money
     • Pressure may be on employees to travel around with business-N.I will lose highly qualified people

3. Employees

   • Benefits
     • Opportunity for employees to gain new skills or promotion as the business expands and new job roles become available

4. Business

   • Drawbacks
     • Transport arrangements are expensive and take time to organise, may mean the business may lose money in the short term
     • Language Barriers- it can be difficult to communicate in markets with customers where a different langguage is spoken
     • Closure of businesses due to the increased competition of being in a global market meaning employees lose their jobs
     • Global Market-business from other countries can compete for a share in the local market
     • Flunctuation in money markets- if a business is importing into the UK the price of the good will depend on the strength of the pound against the currency of another country e.g. if Tesco buys Belgian chocolates at one euro a unit, it will cost more if one euro is worth 90p than another worth 70p
   • Benefits
     • Globalisation gives a business a larger market and so this could lead to increased trade
     • Export opportunities in a global market, which can lead to increased profit for a business which can lead to more employment
     • Businesses have the opportunity to lear more efficient methods through the sharing of ideas with other countries in the global market to have a wide variety of business methods