Globalisation The greater movement of people goods capital

Globalisation The greater movement of people, goods, capital and ideas due to increased economic integration. It is the movement towards living in a borderless world.

Benefits of Globalisation • Economic growth has been higher for open economies than for those that engage in protectionism. • Improved standard of living – e. g. cheaper imports. • Increased life expectancy – improved wealth has led to better health care and sanitation. • Foreign Direct Investment is encouraged • International political tensions have been resolved

Problems of Globalisation • Social and economic costs – short term loss while economies restructure. • Uncompetitive countries have had living standards drop. • Increased trade and transport has facilitated the spread of diseases, e. g. AIDS, SARS • Interdependence has made economies vulnerable to financial crisis • Environment has been harmed • Brain drain of skilled workers. • National culture and language eroded

Global Brand • This is the idea that a company can sell the same product or service all over the world. They may have to change their marketing mix in some cases, e. g. Mc. Donalds do not serve beef in India because the cow is a sacred animal. Generally though, the whole world is treated as one generic marketplace.

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