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Relates to the increased international competitiveness as a direct consequence of the size if the market increasing all the time. Australian business must be ale to compete in a world scale. It involves corporations planning their production processes so that each specialized subdivision of the whole process is carried out in a country where conditions are particularly favourable for that type of work.
This has all lead to the lowering the tariffs imposed on countries to protect their local markets. All theses beliefs the consumers greatly because now they have the chose to purchase more products made in foreign countries cheaper. However, there being the positive impact of globalisation, there is also a negative influence brought by globalisation. For starters, here in Australia, the local producers and manufacturers must find a new and efficient method to do business or face being over whelmed by foreign investors.
As an overview, globalisation in general is a positive thing. The moving of economies from competing on a local basis, to embracing and competing on a world market situates the evaluation of trade.
Culture: Culture, in sociology is the beliefs, behaviour, language, philosophical trends and entire way of life of a particular group of people at a particular time. Culture includes customs, ceremonies, and works of art, inventions, technology, and traditions.
In corporate culture, it can be best described as the shared values and beliefs held by the people in the organisation that unite it and keep it together. These values and beliefs are evident through the rituals, knowledge, myths, language, assumptions and attitudes that exist. It is the sharing of these beliefs that gives the organisation its distinctive characteristics
HRM (Human Reassures Management)
What is HRM: human resources management is the managing of the company's employees and staff. To firms human resources are arguably their most important assets. And if these assets can be managed effectively then the organisation would be successful in reaching its objectives.
To effectively manage these resources HR managers must focus on the motivation of their employees; by using Meslows theory of motivation and providing employees with a sense of belonging then an organisation can effectively reach its objectives.
To enter a different market overseas an MNE can use various methods. An MNE can directly invest in another country's facilities this is known as and FDI.
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MNEs that wish to enter a new market overseas need to have a pre-arranged plan that outlines their intended entry mode and also taking into consideration of the political and ecumenical environments in their future host country.
Some positive features of becoming an MNE are that they will open a new clientele in a new market therefore generation a new source of revenue
Global monetary system
A monetary system secures the proper functioning of money by regulating economic agents, transaction types, and money supply.
Monetary systems are traditionally formed by the policy decisions of individual governments and administrated as a domestic economic issue. The current trend, however, is to use international trade and investment to alter the policy and legislation of individual governments. The best recent example of this policy is the European Union's creation of the euro as a common currency for many of its individual states.
What is the IMF?
The IMF is an international organization with 146 members, including the United States. The main functions of the International Monetary Fund are to lend member nations funds to finance solutions to temporary balance of payments problems, to facilitate the expansion and balanced growth of international trade, and to provide international monetary cooperation among nations.
The IMF also creates additional reserves for member nations called special drawing rights. Member nations must subscribe to a Fund quota, making payments mainly in their own currency. The IMF grew out of the Bretton Woods Conference of 1944.
However the IMF has instead of helping developing nations to embrace the aid and thrive form the donations has crippled many nations because they cannot repay the ever-increasing interest attracted to the donations.
Exporting/Importing and counter trade
Exporting is when a country can produce a good or a service that is unique to that country and they witch to offer that service or good to other countries were there is a demand for that product. Exporting has become
Importing is a direct opposite to exporting. Importing occurs when a country has a demand for a product that it its self cannot produce or would cost a large amount of money to produces and would simply be easer to by that product form a country that can supply it.
Due to globalisation importing and exporting has become a large factor in the development of the world economy, it has resulted in many nations developing treaties that would lower incoming shipments of goods form other countries to be imported. (A classic example of this is the FTA between America and Australia)
Counter trade is a primitive version of importing/exporting; it is were a country wants a product which it can not afford to by it directly because of its national currency is futile or of no real significance. And it offers to exchange the sort out product by offering a good or service that is of equal value. This method is also known as bartering.