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UNIT 5 INTERNATIONAL BUSINESS P3
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UNIT 5 INTERNATIONAL BUSINESS P3. ACHEIVED A DISTINCTION GRADE. WRITTEN IN DETAIL.
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P3: Explain the main features of globalisation that affect two contrastingbusinesses.
Globalization refers to the increasing interconnectedness and interdependence of countries
around the world, driven by the exchange of goods, services, and ideas. Some of the main
features of globalization that can affect companies like Vodafone and HSBC include:
Trading blocs: Trading blocs are groups of countries that have formed agreements to reduce
barriers to trade and increase economic cooperation. For example, the European Union is a
trading bloc that allows member countries to trade freely with each other and has a
common currency, the Euro. Vodafone and HSBC both operate in many countries that are
part of the EU, which can facilitate their international trade operations.
International mobility of labour and capital: Globalization has increased the mobility of
labour and capital, allowing companies to move resources around the world more easily in
search of lower costs and higher returns. Both Vodafone and HSBC have significant
operations in multiple countries, and they may take advantage of this mobility to access
skilled labour or capital at a lower cost.
International currencies: Globalization has also led to the increased use of international
currencies, such as the US Dollar and the Euro, which can be used to facilitate trade
between countries. Both Vodafone and HSBC operate in multiple countries and may use
international currencies in their international trade operations.
Multinational corporations: Globalization has also facilitated the growth of multinational
corporations, which operate in multiple countries around the world. Both Vodafone and
HSBC are examples of multinational corporations that have significant operations in a
variety of countries.
International business communications: Globalization has made it easier for companies to
communicate with each other and conduct business across borders. Both Vodafone and
HSBC use a variety of communication technologies, such as email, videoconferencing, and
social media, to connect with customers and partners around the world.
International payment systems: Globalization has also led to the development of
international payment systems, such as letters of credit and electronic payment systems,
which make it easier for companies to conduct transactions with each other across borders.
Both Vodafone and HSBC use a variety of international payment systems in their
international trade operations.
Overall, the impact of globalization on Vodafone and HSBC has been significant, as it has
facilitated their expansion into new markets around the world and increased the
interconnectedness of their operations. However, globalization has also presented
challenges, such as increased competition and the need to adapt to different cultural and
regulatory environments.
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