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Unit 38 - Business and the Economic Environment P5 M3
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Unit 38 - Business and the Economic Environment P5 M3
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Unit 38P5,M3
The impact of European and Global factors that will impact
Balfour Beatty
1.0 Introduction
The global market is when conceptualizing and then conveying a final product or
service worldwide in the hopes that this product will reach the international marketing
community. The UK could not exist without national trade due to the fact that the UK
personally does not itself produce really any products. The only thinks that they
really produce themselves are included in the car industry and the service sector.
The UK main trading source is the US, China and the European Union and without
them there would not been many products imported from other countries which are
popular in the UK. If there would be no trade with the other countries, the UK would
have to survive on the resources that they get in their country which would cause a
setback in as an example technological advancement. Belfour Beatty is a global
business which has offices around the world and within the EU such as France,
Canada and china etc. The global presence of Belfour Beatty is that through the fact
that they have offices and works in other leading countries they have a good global
presence because they developed a global picture for themselves and a status
globally.
2.0 European Union (E.U) – An Introduction (P5)
The European Union is an economic and political union between 28 European
countries such as Germany, France, Spain, Belgium etc.
The EU was created in the aftermath of the Second World War. The first steps were
to foster economic cooperation and the idea being that countries that trade with one
another become economically interdependent and so more likely to avoid conflict.
Through the European Union the countries made an agreement to trade with each
other and also to agree on certain rules and so made legislations. The EU have a
conference when there are global problems such as environmental issues were they
argue about and suggest of how they could improve or solve the issues. Not all
countries have to follow but countries follow for the benefits that the EU brings such
as there are no quarters or import tax as an example when trading within the EU.
Freedom of Movement (P5 & M3)
The EU has set itself a goal which is to promote human rights such as free
movement of people, goods and services throughout the countries which are
members of the European Union. If the country is part of the EU from a business part
of view it is only beneficial because the markets link with the economy that means
that there is no need to pay any as an example import or export taxes when trading
between a different members of the EU. For Belfour Beatty that means that they can
move their goods and services free of charge within the EU as an example they can
move their skill people easily from the UK to one of their offices in France because
there is no border control for people in the EU. The benefits of people moving to
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