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Global Systems And Government Flashcards

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1
Q

What is globalisation?

A

Globalisation is a multi-faceted process of change that has led to an increasingly interconnected world

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2
Q

What are the dimensions of globalisation?

A

The dimensions of globalisation include the flow of:
* information
* capital
* technology
* products
* labour
* services

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3
Q

How does globalisation affect world trade?

A

Globalisation includes opening-up world trade and markets to transnational corporations (TNCs)

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4
Q

What is the role of TNCs in globalisation?

A

TNCs produce global products with the same global brands worldwide as part of their global marketing strategies

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5
Q

What factors influence globalisation?

A

Factors influencing globalisation include:
* New technologies, communications, and information systems
* Global financial systems
* Transport systems
* Security concerns
* Trade agreements

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6
Q

What has the flow of capital in globalisation resulted in?

A

Highly developed economies (HDEs) invest in less developed economies (LDEs) to take advantage of cheaper production costs

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7
Q

True or False: Globalisation only affects economic aspects.

A

False

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8
Q

Fill in the blank: Globalisation has resulted in a wide range of associated effects on people, culture, political systems, and the _______.

A

environment

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9
Q

What is the impact of global transport networks on products?

A

Cheap global transport networks have encouraged intercontinental trade in products

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10
Q

What is a significant concern for governments and companies related to globalisation?

A

Cybersecurity is a growing concern

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11
Q

What does the World Trade Organisation (WTO) do?

A

The WTO ensures trade agreements between countries and trade blocs are followed

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12
Q

How has globalisation affected the consumer class?

A

A growing share of the global consumer class now lives in emerging markets (EMEs) like China and India

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13
Q

What has declined due to improved transport systems in globalisation?

A

The friction of distance (time and space) has declined

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14
Q

What are the associated impacts of globalisation on the planet?

A

Globalisation has major impacts on the planet, including environmental concerns

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15
Q

What role does technology play in globalisation?

A

New technologies enable easy and cheap sharing of information

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16
Q

What is one potential negative effect of global financial systems?

A

Global financial systems may cause negative feedback/limits within the system

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17
Q

What does the term ‘friction of distance’ refer to?

A

The time and space barriers that have declined due to improved transport systems

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18
Q

What is a transnational corporation (TNC)?

A

Large, usually global companies that operate in more than one country.

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19
Q

What types of products do TNCs typically produce?

A

Global products, including consumer goods with strong recognizable brands.

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20
Q

In which industrial sectors do TNCs dominate?

A

TNCs dominate all industrial sectors:
* Primary (e.g. mining)
* Secondary (e.g. food)
* Tertiary (banking)
* Quaternary (pharmaceuticals).

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21
Q

What model of organization do TNCs usually adopt?

A

A hierarchical model imposing top-down decision-making and control.

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22
Q

What is the role of branch plants in TNCs?

A

Branch plants are recipients of change rather than initiators.

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23
Q

What is vertical integration in the context of TNCs?

A

A model where one company controls or owns several stages in the production and distribution chain.

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24
Q

What is horizontal integration in TNCs?

A

Improves links between different firms in the same stage of production, often through acquisition of competitors.

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25
What is truncation or vertical disintegration of production?
Subcontracting different manufacturing processes to other companies.
26
What advantage do TNCs gain from global operations?
Spreading of locational risks and flexibility of production.
27
What does the spatial organization of TNCs minimize?
Impacts of regional events such as natural hazards, political change, and economic downturn.
28
What factors do TNCs exploit for flexibility of production?
Regional differences in factors of production, including costs of labor, raw materials, and land.
29
What is the significance of BP's spatial organization?
It is an example of vertical integration.
30
What is the role of upstream sites in TNCs?
They are involved in exploration and production.
31
What is the role of downstream sites in TNCs?
They are involved in refining, processing, and distribution.
32
Where is BP's headquarters located?
London, UK.
33
True or False: TNCs directly employ all their workers in branch plants.
False.
34
Fill in the blank: TNCs avoid costly pension schemes by _______.
subcontracting manufacturing processes.
35
What is a transnational corporation (TNC)?
A TNC is a corporation that operates in more than one country and produces global products. ## Footnote TNCs have a complex spatial organization and often manage multiple stages of production.
36
What are three positive impacts of TNCs on host countries?
* Increase employment and raise living standards. * Improve levels of skill and expertise. * Foreign currency brought in, improving the balance of payments. ## Footnote These impacts contribute to the socio-economic multiplier effect and further economic growth.
37
What are three negative impacts of TNCs on host countries?
* Many jobs are of low skill in LDEs. * Majority of profits are sent back to home country. * Investment may only be short-term, with TNCs pulling out at short notice. ## Footnote Negative multiplier effects can also impact the environment and employee rights.
38
List factors that encourage the growth of TNCs.
* Cheap labour. * Mergers and takeovers. * Flexible workforce. * Availability of finance. * Fewer environmental restrictions. * Globalised transport network. * Technological developments. * Government encouragement. * Cheap land. ## Footnote These factors can significantly impact the expansion and operational strategies of TNCs.
39
True or False: TNCs generally have their production facilities in high-developed economies (HDEs).
False ## Footnote Production generally takes place in less developed economies (LDEs) or emerging markets (EMEs), particularly in countries like China.
40
Fill in the blank: TNCs control the many stages of production via some form of _______.
integration ## Footnote This can be either horizontal or vertical integration.
41
What is the 'glocalisation' concept in relation to TNCs?
Glocalisation refers to the strategy where global products are tweaked to meet local needs. ## Footnote This approach helps TNCs maintain brand consistency while catering to local markets.
42
What types of jobs are typically focused on in HDEs by TNCs?
Design, research, and development jobs. ## Footnote These higher-order jobs are often not developed locally in LDEs.
43
What is a common consequence of TNCs' operations in terms of taxation?
Corporation tax is not fully paid by all TNCs due to loopholes. ## Footnote This can lead to significant revenue losses for host countries.
44
Describe the impact of speculative investments in TNCs.
Speculative investments for quick returns contributed to the global 2008 financial downturn. ## Footnote This highlights the risks associated with TNCs and financial markets.
45
What is the typical management structure of most TNCs?
Most TNCs have top-down management within a hierarchical organisation. ## Footnote This structure can impact decision-making and operational efficiency.
46
What is a transnational corporation (TNC)?
A TNC is a corporation that operates in more than one country and produces global products. ## Footnote TNCs have a complex spatial organization and often manage multiple stages of production.
47
What are three positive impacts of TNCs on host countries?
* Increase employment and raise living standards. * Improve levels of skill and expertise. * Foreign currency brought in, improving the balance of payments. ## Footnote These impacts contribute to the socio-economic multiplier effect and further economic growth.
48
What are three negative impacts of TNCs on host countries?
* Many jobs are of low skill in LDEs. * Majority of profits are sent back to home country. * Investment may only be short-term, with TNCs pulling out at short notice. ## Footnote Negative multiplier effects can also impact the environment and employee rights.
49
List factors that encourage the growth of TNCs.
* Cheap labour. * Mergers and takeovers. * Flexible workforce. * Availability of finance. * Fewer environmental restrictions. * Globalised transport network. * Technological developments. * Government encouragement. * Cheap land. ## Footnote These factors can significantly impact the expansion and operational strategies of TNCs.
50
True or False: TNCs generally have their production facilities in high-developed economies (HDEs).
False ## Footnote Production generally takes place in less developed economies (LDEs) or emerging markets (EMEs), particularly in countries like China.
51
Fill in the blank: TNCs control the many stages of production via some form of _______.
integration ## Footnote This can be either horizontal or vertical integration.
52
What is the 'glocalisation' concept in relation to TNCs?
Glocalisation refers to the strategy where global products are tweaked to meet local needs. ## Footnote This approach helps TNCs maintain brand consistency while catering to local markets.
53
What types of jobs are typically focused on in HDEs by TNCs?
Design, research, and development jobs. ## Footnote These higher-order jobs are often not developed locally in LDEs.
54
What is a common consequence of TNCs' operations in terms of taxation?
Corporation tax is not fully paid by all TNCs due to loopholes. ## Footnote This can lead to significant revenue losses for host countries.
55
Describe the impact of speculative investments in TNCs.
Speculative investments for quick returns contributed to the global 2008 financial downturn. ## Footnote This highlights the risks associated with TNCs and financial markets.
56
What is the typical management structure of most TNCs?
Most TNCs have top-down management within a hierarchical organisation. ## Footnote This structure can impact decision-making and operational efficiency.
57
What is the purpose of Fairtrade?
To create opportunities for producers and workers who have been economically disadvantaged by the global trading system ## Footnote Fairtrade focuses on sustainable development.
58
What are the key aims of Fairtrade?
* Pay farmers a guaranteed minimum price * Offer fair trade terms * Reinvest in the local community
59
What does Fairtrade help with?
It helps producers and workers who are disadvantaged by the global trading system.
60
Where was the first Fairtrade label launched?
In the Netherlands in 1988
61
What is the significance of 'banana republics'?
They became entirely reliant on banana trade.
62
What are the characteristics of TNCs in banana trade?
* Initial high capital investment * Poor environmental record * Traditionally poor pay and conditions for local workers * Strong vertical and horizontal integration
63
What environmental issues are associated with banana plantations?
Heavy use of pesticides and unsustainable cultivation methods.
64
What is the impact of TNCs on profits along the supply chain?
Profits are squeezed by TNCs and supermarkets who negotiate prices down.
65
What recent trend has been observed in the UK retail sector regarding bananas?
A shift towards smaller and independent producers.
66
Fill in the blank: 1 in 3 bananas sold in the UK is now _______.
[Fairtrade]
67
What is the average annual banana production in tonnes?
25,000,000 tonnes
68
What is the typical climate for banana growth?
Tropical regions with temperatures around 27°C and 2500mm rainfall.
69
What is a significant consequence of TNCs' market control in banana trade?
They have a virtual monopoly of the market.
70
True or False: TNCs often have a good environmental record.
False

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