Advantage disadvantages of standardisation and

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Advantage disadvantages of standardisation and

Read more Globalisation Globalisation refers to the integration of markets in the global economy, leading to the increased interconnectedness of national economies. Markets where globalisation is particularly common include financial marketssuch as capital markets, money and credit markets, and insurance markets, commodity markets, including markets for oil, coffee, tin, and gold, and product markets, such as markets for motor vehicles and consumer electronics.

The globalisation of sport and entertainment is also a feature of the late 20th and early 21st centuries. Why has globalisation increased?

The pace of globalisation has increased for a number of reasons: Developments in ICT, transport and communications have accelerated the pace of globalisation over the past 30 years. More recently, the rise of social media means that national boundaries have, in many ways become irrelevant as producers use new forms of communication and marketing, including micro-marketing, to target international consumers.

The widespread use of smartphones has also enabled global shoppers to have easy access to 'virtual' global markets. The rise of new electronic payments systems , including e-Wallets, pre-pay and mobile pay, e-Invoices and mobile pay apps, also facilitate increased global trade.

When capital can move freely from country to country, it is relatively straightforward for firms to locate and invest abroad, and repatriate profits. Increased trade which has become increasingly free, following the collapse of communism, which has opened up many former communist countries to inward investment and global trade.

The emergence of footloose multinational and transnational companies MNCs and TNCs and the rise in the significance of global brands such as Microsoft, Apple, Google, Sony, and McDonalds, has been central to the emergence of globalisation.

The drive to reduce tax burdens and avoid regulation has also meant the establishment of complex international business structures. The advantages of globalisation Globalisation brings a number of potential benefits to international producers and national economies, including: Providing an incentive for countries to specialise and benefit from the application of the principle of comparative advantage.

Access to larger markets means that firms may experience higher demand for their products, as well as benefit from economies of scalewhich leads to a reduction in average production costs.

Globalisation enables worldwide access to sources of cheap raw materials, and this enables firms to be cost competitive in their own markets and in overseas markets.

Seeking out the cheapest materials from around the world is called global sourcing. Because of cost reductions and increased revenue, globalisation can generate increased profits for shareholders.

Avoidance of regulation by locating production in countries with less strict regulatory regimes, such as those in many Less Developed Countries LCDs.

The advantages / disadvantages of standardized international marketing | Essay Example

Globalisation has led to increased flows of inward investment between countries, which has created benefits for recipient countries. These benefits include the sharing of knowledge and technology between countries.Chapter 1 Agricultural And Food Marketing.

As individuals within a society become more specialised in their economic activities, they come to rely upon others to supply at least some of the products and services which they need. REVIEW. Near Infrared Spectroscopy: fundamentals, practical aspects and analytical applications.

Celio Pasquini. Instituto de Química, Universidade Estadual de Campinas, CP , Campinas - SP, Brazil. Accounts Payable (or Purchase Ledger) The money owed by a business to its suppliers shown as a liability on a company’s balance sheet.

Annual Cost of Purchasing Function The total yearly cost of running a purchasing function. This includes salaries, Read more».

Advantage disadvantages of standardisation and

Volume 7, No. 4, Art. 11 – September Advantages and Disadvantages of Four Interview Techniques in Qualitative Research.

Raymond Opdenakker. Abstract: Face-to-face interviews have long been the dominant interview technique in the field of qualitative webkandii.com the last two decades, telephone interviewing became more and more common.

· To give an understanding of the different forms of global organisation and their advantages and disadvantages · To discuss the different types of formal plans for global marketing and examine the merits and demerits of each type · To briefly describe the different methods of control in global.

Standardization assists with cost cutting by removing a duplicated effort and enables the organization to take advantage of the economies of scale when making purchases.

It is important to note that standardization has got both advantages and disadvantages.

Copyright Issues in Open Access Research Journals: The Authors' Perspective