This increased openess allows countries to specialise in producing goods which they have a comparitve advantage in (this means they can produce goods at lower unit costs) A multinational Company is a corporation that has its facilities and other assets in at least one country other than its home country. There are many examples of MNC's such as Nike or Primark. MNC's play a massive part in the development of globalisation as they often invest heavily into the country they move into. They will build good quality factories to produce the goods and also introduce effective manufacturing methods. These manufacturing methods can be replicated by other businesses in the countries and improve their ability to manufacture goods.
Innovation impacts the cost of production as well. Even the innovation helps in lowering the cost of production and making economies more efficient – producing more outputs with the same number of inputs. Technology affects market structure. In today’s market world, technology advances more rapidly because individuals gain incentives, in the form of profits, to discover new and cheaper ways of doing things. Even the dynamic efficiency refers to a market’s ability to promote cost-reducing or product-enhancing technological change.
This will allow different parts of the world to enjoy merchandise that is specific to one country. Throughout the past it has been proven that by introducing industries’ and the use of globalization has strengthened a country’s economy. I am a pro economic globalization because I feel that we need to change the way of the past if nothing seems raise the economic standards. Hopefully we will be able to realize that economic globalization is working so we can help countries quickly and efficiently. Economic globalization has attracted much debate throughout society today.
This will mean the population will have more money which will go into the economy, this will mean more income for improving infrastructure and services. Also as TNCs move to other countries, job opportunities increase which means that the quality of life will generally improve too. Another benefit would be that the status of an area would be raised; this may encourage investment by other big name Multi-Nationals and most importantly will improve the countries economy drastically as valuable export revenues will be earned. Most important, they will benefit from cultural exchange creating a cultural integration. LEDC countries do not benefit as much as MEDC countries do, for example, sometimes much of the employment is low paid, low skill, long hours, meaning that the countries do not develop economically or give the opportunity to develop their skills.
This has been provided a better advantage to the company because it is able to increase its operations as expected. With the use of new current technologies, the operations of the company have been made better and faster. The customers are usually served in a faster manner and this has motivated them to continue purchasing from the company. Again, it has become easy to identify the operational areas of the company and make adjustments where necessary using the new technologies available. The quality of the products is also another greater strength for the company.
(2002) Although the United States economy experiences a great deal of negative effects based on international trade, there are some benefits to foreign trade. The United States economy drastically improves because of a wider variety of goods imported from other countries. When Americans buy more products, the economy is stimulated. When foreign countries demand American made goods, this causes an increase in productions of those demanded goods, causing the United States labor force to go to work. On the other hand, the United States receives exotic goods within a reasonable time and price range due to foreign trade.
These early ideas made it possible for the different views of the rich and working class to have their own set representation as needed when capitalism, or free market enterprise, and common wealth made its way into American economy. Free market enterprise was a way for the artisans, or skilled workers, to make money by producing and selling their products. As technology advanced and more inventions were being created there also came better, cheaper, and faster ways of producing mass amounts of the same products. Factories and new means of transportation made it possible for industrialization to make a rise and excel American economy. While business was great for the owners of these companies and those who could afford better living it was a completely different story for the factory workers and artisans.
Company G has prided itself on cultivating relationships with it's suppliers built on honesty, confidence, and allegiance in order to facilitate profits for both parties. However, as popularity may grow for the product so too may the market and suppliers might consider increasing costs, in which case a fixed contract would be discussed. Threat from Substitutes – If the Little Wonder does prosper their may be threats from substitutes from larger companies that are able to produce a similar product on an increased scale thereby reducing it's price and making it difficult for Company G to compete. SWOT Analysis A SWOT analysis has been done for Company G and the outcome is clearly positive. The details of that evaluation: STRENGTHS Dedication from management, employees, and suppliers 1.
Through this strategy, the business will be able to reach out to their customers more and promote its services. Moreover, putting up additional branches in other countries will make transport services easier and faster; this is an important aspect that the business should maintain since this made them successful in UK. Putting up additional branches can also benefit the business as it will be exposed to other foreign sectors that are in need of transport services. For instance, if the food sector of Kelly Transport is declining in UK, other countries may offer greater opportunities in this sector. Most importantly, expanding to other countries can help the business overcome the growing competition in the transport industry.
I argue other wise immigrants are usually skilled labor and they help increase the local production of the United States. Immigrants tend to send their US dollars outside America to their families, and this strengthens the value of the dollar, making it more valuable, thereby making the economy of US stronger. Having a variety of cultures helps people understand and learn from each other. Taking immigration away would hurt this country not only economically but also