Globalisation in Australian's businesses (1 Viewer)
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Erm, idk if this is an actual syllabus dot point (as my school doesn't teach us directly from the syllabus).. but I'm assuming you have to link it to all the 4 topics?
Operations - globalisation --> increased global outsourcing (cheaper resources - ie labour, raw materials), offshoring, customisation of products for differing countries (forgot the method) --> link this all to increased productivity, and sales/profits etc.
Marketing - increased access to markets, market accordingly to differing countries tastes --> link increased access to markets to increased sales/greater business opportunities
Finance - increased availability of finance --> increased supply means greater competitiveness in the financial market, thus competitive rates of borrowing
Human resources - offshoring means the business must comply with legal regulations overseas such as labour rights/conditions and environmental laws, there may be language barriers between HRM and o/s staff members causing miscommunication & furthermore a loss of domestic employment and thus potential damages on a businesses reputation, cheaper labour costs overseas (especially places like developing countries where regulations are low) creating cost efficiency within the business and generating greater profit margins.
I just did this off of my head, so I'm not sure if I addressed everything exactly
Operations - globalisation --> increased global outsourcing (cheaper resources - ie labour, raw materials), offshoring, customisation of products for differing countries (forgot the method) --> link this all to increased productivity, and sales/profits etc.
Marketing - increased access to markets, market accordingly to differing countries tastes --> link increased access to markets to increased sales/greater business opportunities
Finance - increased availability of finance --> increased supply means greater competitiveness in the financial market, thus competitive rates of borrowing
Human resources - offshoring means the business must comply with legal regulations overseas such as labour rights/conditions and environmental laws, there may be language barriers between HRM and o/s staff members causing miscommunication & furthermore a loss of domestic employment and thus potential damages on a businesses reputation, cheaper labour costs overseas (especially places like developing countries where regulations are low) creating cost efficiency within the business and generating greater profit margins.
I just did this off of my head, so I'm not sure if I addressed everything exactly
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Ohh my bad lolol, I've never seen the syllabus actually... I think I should take a glance soon.
globalisation- removal of barriers of trade between nations..
impact:
- allowed businesses to exploit competkitive advantage of regiosn
-this means businesses can purchase inputs and resources from wherever provides the most value for money
- given many aus businesses chance to expand
- can achieve economies of scale through mass production
etc..
impact:
- allowed businesses to exploit competkitive advantage of regiosn
-this means businesses can purchase inputs and resources from wherever provides the most value for money
- given many aus businesses chance to expand
- can achieve economies of scale through mass production
etc..
How do you not use the syllabus?
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This is incorrect. That is not the definition of globalisation. Globalisation is not the removal of trade barriers between nations. Whilst removing trade barriers ALLOWS globalisation, this is not the main definition. Globalisation is the integration of the world's economies.
Multilateral and Bilateral trade agreements are examples of one factor that removes the barriers to trade. It may be a reduction in protectionism etc etc.
Globalisation allows for businesses to:
- have exposure to a global market
- allows scanning and learning, and may result in increased efficiency
- reduced cost centres through outsourcing, or buying inputs through a cheaper supplier
- forces greater efficiency, as reduced protectionism in Australia means that local businesses have to compete with other businesses on a global scale (the retail sector in Australia is starting to struggle nao)
globalisation is the removal of barriers of trade between nations m8. but its defines as the intergration and interdependence of national economies forming a global economy. and integration means joining together of economies trhough trade, derugulation, technology, etc..
through this, businesses can exploit the advantage of each region and purchase inputs from whrever provides the most value for money. etc. etc.
u wot m8?
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nah brah
No. Globalisation the integration etc etc of economies as a RESULT of reduced barriers. I get what you're saying, but I don't think you could get away with that in an exam (You can't say that globalisation IS the removal of trade barriers, you say it is the RESULT of it. There's a difference).
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Globalisation refers to the integration and interdependence of economies. It does not refer to the removal of trade barriers, but it does relate to the removal of barriers to trade.
the impact it has had on human resources it that the management now have to manage a workforce with a lot more different cultures; there is a more cultural diversity. Also the business has to comply with the legal requirements of the country the country they have established themselves in. the amount of technology that is now being integrated into the businesses functions means that the management now have to handle employees slightly differently. The employees have to be trained to use the new technology in the business so that they use if efficiently and that it is actually productive for the business. In some situations the business may even reduce the number of employees meaning that they have to handle the separation part of the HR process more effectively.
Hope this helped
Hope this helped