Globalisation

Question 1

Globalisation definition-

Answer 1

Globalisation- Expanding a business into other countries around the world

Question 2

Globalisation advantages-

Answer 2

• More profit due to more customers
• Brand Exposure
• The industry may be doing well abroad
• Could be able to get better premises

Question 3

Globalisation Disadvantages-

Answer 3

• Transportation costs
• Cultural differences
• Language barriers
• Charged more tax and tariffs to export goods
• Financial risk due to currency differences

Question 4

What is an exchange rate?

Answer 4

The rate one currency can be converted into another

Question 5

Advantage of a strong pound?

Answer 5

Imports are cheaper

Question 6

Disadvantage of a strong pound?

Answer 6

More expensive exports