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Flashcards

factors in globalisation

niamh bergin Geography - human English 40 cards

Cards in this deck (40)

  1. 1what is said to be the driving force behind globalisationthe development of new systems, technology and relationships in a range of sectors including finance, transport and management
  2. 2the emergence of what has also eroded barriers ?english as the accepted global language of business
  3. 3there are few borders or boundaries for the constant flow of data - so what age are we in ?the digital age
  4. 4GOV SUPPORT : one of the economic objectives of most govs is to increase exports from their country - govs at national level will have what ?trade departments whose function will be to ease and facilitate exports - in the UK they have the UK Trade and Investment department
  5. 5GOV SUPPORT : this departments will offer support and advice on all aspects of trade to encourage what ?businesses - especially first time exporters, to trade their goods overseas
  6. 6GOV SUPPORT : in some larger developing countries with less developed infrastructure i.e. pakistan, exporters are encouraged by government to use what ?dry ports - located inland and nearer to their business
    DRY PORTS save the exporter time and transport costs as all shipment arrangements and customs documentation are completed locally before the goods are shipped to a seaport
  7. 7FINANCIAL SYSTEMS : in the past trade was hindered by problems in exchanging finance for goods and exchange rate concerns - what has happened since then ?deregulation of financial markets allowed arrangements for the removal or relaxing by governments of barriers to movements of finance
  8. 8FINANCIAL SYSTEMS : financial systems are based on companies called investment banks - what is the main role of these ?to help companies raise capital by selling shares on behalf of those companies - people or groups that buy shares are called investors and they receive a fraction of the profits that a company makes
  9. 9FINANCIAL SYSTEMS : in the 1980s several things happened to make the financial system more global what were these- information technology allowed investors / investment banks greater access to info = could easily find out if business doing well or struggling = able to make an informed decision about whether to invest
    - investment banks created new financial products = made fdi less risky
    - govs around the world undertook process of financial deregulation = relaxed rules and removed barriers
    - changes led to commercial banks - who sell shares
  10. 10TRANSPORT: products and commodities can be shipped more quickly and in larger quantities as a result of integrating what technologies which have all contributed to international trade ?- increased size of aircraft / integrated air traffic networks
    - growth of low-cost airlines
    - use of standardised containers - by sea, rail, road and air (introduced in 1950s)
    - handling and distribution of efficiencies
    - computerised logistics systems
    - high speed rail networks
  11. 11TRANSPORT: communication satellites launched into orbit in 1960s - these allowed for what ?cheap wireless communication between two devices regardless of where they are - people / companies based in rural or remote areas can access the internet and communicate with others
  12. 12TRANSPORT: what else has lead to faster communication between to companies ?optic fibre cables
  13. 13SECURITY: the trading community faces a no. of security issues including what ?- supply chain security
    - crime and anti-terrorism
    - food and bio security
    - fiscal and anti smuggling
  14. 14SECURITY: a no. of initiatives have been introduced to alleviate threats such as ?the world customs organisation and the more regionalised measures such as an EU initiative to introduce a 'secure operator' quality label
  15. 15SECURITY: in response to terrorist incidents of recent years, measures have been tightened - but was has this arguably done ?due to the piecemeal introduction and lack of cohesion there has been an opposite affect of increasing costs and creating delays for shipment of goods
  16. 16MANAGEMENT AND INFORMATION SYSTEMS : the evolution of improved transport and communications systems has lead to what?a production revolution which has transformed how companies manufacture products and would distribute them worldwide
  17. 17MANAGEMENT AND INFORMATION SYSTEMS : new processes of high volume production enable what ?substantial economies of scale - cost reductions o a global level
  18. 18MANAGEMENT AND INFORMATION SYSTEMS : to benefit from the cost advantages companies have invested in what ?- large production and assembly plants capable of exploiting technology's economies of scale
    - global marketing and distribution networks to ensure that sales keep pace with the increase in production
    - globally capable management
  19. 19MANAGEMENT AND INFORMATION SYSTEMS : companies supply chains have become global - this allows ?companies to minimise cost
  20. 20MANAGEMENT AND INFORMATION SYSTEMS : investments in international production, distribution and management are increasingly organised within what ?global value chains where the different stages of the production process are located across different countries
  21. 21MANAGEMENT AND INFORMATION SYSTEMS : the global production network of any international organisation therefore covers what ?the spatial inter-relationships necessary to support worldwide flows of info, raw materials, components, sub-assembled parts and finished products
  22. 22MANAGEMENT AND INFORMATION SYSTEMS : corporations in different industries and economic sectors organise their global production networks in different ways why ?in order to gain and maintain a competitive edge
  23. 23MANAGEMENT AND INFORMATION SYSTEMS : the management of global production networks demands the remote management of production and distribution lines - how has this been enabled ?enabled by information technology and the internet giving businesses virtually free telecommunications and video conferencing and integrated ict management systems
  24. 24MANAGEMENT AND INFORMATION SYSTEMS : 'just-in-time' technology and lean production management mean greater efficiency in the supply chain for manufacturers - how ?as it ensures that the correct supply of components arrives when they are needed and costs are cut by reducing the quantitates of goods and materials held in stock
  25. 25MANAGEMENT AND INFORMATION SYSTEMS : the principle behind JIT technology is what?production is 'pulled through' by specific customer orders rather than push through to build up stock
  26. 26MANAGEMENT AND INFORMATION SYSTEMS : based on this principle JIT technology therefore involves what ?- producing and delivering finished goods 'just in time' to be sold
    - sub-assembled goods 'just in time' to be assembled into finished goods
    - parts 'just in time' to produce sub-assembled goods
    - materials 'just in time' to be made into parts
  27. 27MANAGEMENT AND INFORMATION SYSTEMS : these systems are designed to enable remote management and increase cost efficiency - they have led to what ?- a spatial separation between higher-order business activities (i.e. research and development or manufacturing) which are located at corporation HQ and strategic hubs around the world and lower order activities (i.e. production and assembly) which are based either at low production cost locations or in proximity to large markets
    - global companies increasingly outsourcing
    - rapid growth of logistics and distribution solutions industry and increased competitiveness between service providers within this industry
  28. 28MANAGEMENT AND INFORMATION SYSTEMS : large companies can benefit from economies of scale, they can reduce the average cost of making each item how ?by purchasing specialised equipment and using production lines + may also buy raw materials at lower price as able to buy in bulk
  29. 29MANAGEMENT AND INFORMATION SYSTEMS : what is outsourcing ?when a company pays another company to do work tat in the past may have been done in-house, usually to save costs
  30. 30TRADE AGREEMENTS : since 1950s trade agreements have been formed how ??by countries joining together to form trade blocs in order to stimulate trade between themselves and gain economic benefits from the cooperation
  31. 31TRADE AGREEMENTS : trade is primarily regulated by countries' governments who control which products they lit into the country and at what price - controls include what ?- tariffs - taxes on products coming into the country
    - non-tariff barriers - rules on quality of products coming into the ocuntry
    - banning of certain products (i.e. illegal drugs)
  32. 32TRADE AGREEMENTS : controls make it more expensive for companies to sell their products abroad, as well for consumers to buy them to make it cheaper countries scan enter into a trade agreement - trade agreements between two countries are called what ?bilateral trade agreements
  33. 33TRADE AGREEMENTS : what are multilateral trade agreements ?trade agreements between several countries
  34. 34TRADE AGREEMENTS : there are various forms of that trade groupings might take including what ?- free trade areas
    - customs unions
    - common markets
    - economic or monetary unions i.e. EU
  35. 35TRADE AGREEMENTS : give example of some trade agreements ?- NAFTA
    - EU (European union)
    - APEC (Asia-pacific Economic Co-operation)
    - ASEAN (Asian Free Trade Area)
    - SAARC (South Asian Association for Regional Cooperation)
    - CARICOM (Caribbean Community)
    - MERCOSUR (south American countries)
    - OPEC (organisation of petroleum exporting countries)
  36. 36TRADE AGREEMENTS : regional trading blocs are not what ?exclusive, many other regional agreements exist and some overlap as many states are members of more than one
  37. 37TRADE AGREEMENTS : not all trade agreements are regionally based - give an example of one ?OPEC - the organisation for petroleum exporting countries is made up of members mainly from the Middle East but also from South America and Africa - its focus is on the trade of oil globally which is the singly most important traded commodity
  38. 38TRADE AGREEMENTS : what are the advantages to nations on a global scale of trading blocs ?- to improve global peace and security and reduce conflict
    - to increase global trade and cooperation on trade issues
    - to help members develop their economies and standard of living
  39. 39TRADE AGREEMENTS : what are the advantages to nations regionally of trading blocs ?- to compete on a global level with other trading entities
    - have a bigger representation in world affairs
    - to allow freedom of movement of trade
    - to allow people seeking work to move between countries more easily
    - to negotiate trade advantages as a group with other groups
    - to support particular sectors of national economy
    - to share technological advances
    - to raise standards in education and healthcare across the region
  40. 40TRADE AGREEMENTS : as trade agreements may lead to more economic, social and political integration, such as the EU, a no. of possible disadvantages can arise - what are these ?- some loss of sovereignty - decisions are centralised by an undemocratic bureaucracy
    - loss of financial controls to a central authority such as a bank
    - pressure to adopt central legislation
    - certain economic sectors are damaged by having to share resources

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Geography - human (global systems and governance) Flashcards on factors in globalisation , created by niamh bergin on 19/05/2018.
Created by
niamh bergin · May 2018
Updated
May 20, 2018
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