BSB119 Study Guide - Final Guide: Emerging Markets, Switching Barriers, Income Distribution
Document Summary
A shift towards a more integrated and interdependent world economy. The merge of historically distinct and separate national markets into a global marketplace in which the tastes and preferences of consumers in different nations are beginning to converge. Despite this, significant differences in culture, politics and economies exist between countries which means adaptation of products and strategies to local conditions are often necessary for international business. Example: boeing aircrafts use companies all over the world for different components. Firms are better able able to respond to international customer demand due to improvements in transportation technology. Jet transport, temperature controlled containerised shipping and coordinated ship-rail truck system. Reduction in the barriers to trade and foreign investment (cooperation among nations: Changing ideologies, privatisation and the emerging market economies: rising disposable incomes: Economic development and demand for greater variety of products: technological change: Transportation, communication, information processing and the internet: virtual.
