4.3.1

Globalisation

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Globalisation - Benefits

Globalisation is the process where people, businesses, governments and markets around the world become more connected. Technological advances and free trade movements have increased globalisation a lot in the last 50 years. Some benefits of globalisation are:

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Single global market

  • The emergence of a single global market has meant that UK companies are no longer competing with just other companies in the UK, but also companies all over the world.
  • They can access more consumers and have more growth opportunities, but also face more competition.
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Reduce costs

  • UK businesses can import cheaply from other countries where rent or labour costs may be lower. This may enable the businesses to cut costs and increase profits.

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1Exploring Business

2Marketing Campaigns

3Business Finance

4International Business

5Principles of Management

6Business Decision Making

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