This has occurred as a result of rapid advances in transport and telecommunications technology, such that it is now possible to buy and sell stock, place orders for delivery/production of good and discuss business strategy at the click of a button. World cities are cities such as New York, London, Paris and Tokyo, and they fall into global hierarchy of dominance and dependence more of which will be discussed in character. Mega cities in the developing world contract a great deal to this. Whereas world cities play important roles globally, megacities in the DW tend to have their influence limited to the nation in which they exist. This is a result of the fact that more than 40% of the less developed nations population live in megacities; making them large hubs for population, employment and free riding off services such as sanitation and water not provided in rural areas (and only marginally supplied in megacities incidentally).
But some of the population has gained also due to the creation of higher paid jobs in some factories, for example some of Nike's factories provide safe working conditions for higher pay than they were previously used to. However the rapid inflation that China has been experiencing has caused a large increase in the prices of products and this could ultimately lead to poorer consumers being unable to purchase the goods that they need to survive as they no longer earn enough from jobs such as farming. Stakeholders that have been impacted by the rapid growth of the Chinese market are the companies that choose to outsource their work to China. Due to the growth that China has experienced in the recent years, roughly 10% over the last 20 years, many companies now choose to outsource some of their labour-intensive work to China as wage rates, although they are increasing, are still much lower than developed countries like the UK or the USA. This has allowed companies to move to China and lower their costs substantially.
Discuss the roles and relative importance of TNC’S and NIC’S in the changing global economy An economy is the activities related to the production of goods and services within a specified geographic region. If countries trade goods and services with each other, their economies interact, it can happen on a global scale, this is known as globalisation. A TNC, transnational corporation is a company that has power to coordinate and control economic operations in more than one country. Examples of this would include BP, Wal-Mart and coca cola. NIC’s are newly industrialised countries in the developing world that have undergone rapid industrialisation since beginning of the 1960’s.
Which of the following has played the most important role in the rise of globalization? * Transportation * Communications * Transnational Corporations (TNCs) ------------------------------------------------- In the recent years, the world has been experiencing a rise in globalization. Globalization is defined as the process by which people, their ideas and their activities in different parts of the world become interconnected or integrated. This interconnectedness between countries has risen due to the key forces which drive it forward – transportation, communications and transnational corporation. In my opinion, communications has played the most important role in the rise of globalization.
GKE-1 Task 4 GKE-1 Task 4 A.) The Industrial Revolution brought about many social changes to both Europe and America. Two of the most significant changes are the large scale urbanization and rise of the labor unions. Urbanization as defined by the New Oxford American Dictionary is to make or become urban which relates to the characteristics of a city or population. Because of the creation of more job opportunities, a rise in population occurred.
P5 – Merlin Entertainment in UK and Asia Merlin Entertainment is becoming a major attraction across the globe but with this faces many challenges. Across the countries in which it operates in, each has their own laws, regulations, economy and consumers. For this section of your assignment I will be completing a case study on Merlin Entertainment in the UK and China. 1. Describe the following terms: Economic cycle - recurring fluctuations in economic activity consisting of recession and recovery and growth and decline Economic growth - Economic growth is an increase in the production and consumption of goods and services.
The American Century built a completely new era of economic order. Globalization and Americanization soon became accentuated in the world’s economy with similarities between American consumers and other nation’s consumers. Americanization is put in terms with Globalization through the adaption of capitalism and mass consumerism globally. The majority of Western Europe and Japan were allured to America’s consumerist economy. These dramatic changes and the globalization of American corporations signaled the “Americanization” of the world.
There are several parallels that lead us to believe that history may be repeating itself. Today’s U.S. economy is producing 2.2% more goods output then before the economic recession started in the late 2000’s, but with 3.8% fewer workers. This can be attributed to our modern day recession stimulating huge productivity and efficiency gains as business let mediocre employees go to save on labor costs. They have learned to do more with less. Unemployment rates were steadily on the rise just a few months ago and corporate profits are at all time highs.
P5: Describe the influence of two contrasting economic environments on business activities within a selected organisation The business environment consists of a range of major influences that are outside a business. These include political, social and legal changes that affect a business. I will be looking at how two economic environmental problems influence a business. Economic Environment: The totality of economic factors, such as employment, income, inflation, interest rates, productivity, and wealth, that influence the buying behavior of consumers and institutions. The economy is made up of millions of individual decision makers who buy and sell goods, borrow and lend money, and raise taxes and change interest rates.
The strength of the Aussie dollar impacts on exporting, metal prices effect profits, and a slowdown in the global economy will reduce the demand (particularly from China) for the metal produced in BH. The BH mine recently made 440 employees redundant which had a huge effect on the local economy and saw many families leave the region in search of employment Ageing Population: BH has an ageing population which in the short term has a positive effect through construction of aged