Summary

Summary Growing Economies

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Module
Unit 4 - Global business

Institution
PEARSON (PEARSON)

Describes the economic growth of world markets (e.g. BRICS and MINT), the growing power of Asian, African and other countries, implications of economic growth for individuals and businesses, and indicators of growth

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Uploaded on September 28, 2020
Number of pages 2
Written in 2019/2020
Type Summary

business
economic growth
world markets
growing economies
wealth indicators
gdp
literacy rate
hdi
gross domestic product
human development index
trade obligations
employment patterns
emerging economies

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56 items

1. Summary - Marketing strategy
2. Summary - Distribution
3. Summary - Pricing strategies
4. Summary - Branding & promotion
5. Summary - Product & service design
6. Summary - Elasticity
7. Summary - Demand and supply
8. Summary - Market positioning
9. Summary - Market research
10. Summary - The market
11. Summary - Leadership
12. Summary - Motivation in theory & in practice
13. Summary - Organisational design
14. Summary - Recruitment, selection and training
15. Summary - Approaches to staffing
16. Summary - Forms of ownership
17. Summary - Business objectives
18. Summary - Entrepreneurs
19. Summary - Business failure
20. Summary - Liquidity
21. Summary - Profit
22. Summary - Setting budgets
23. Summary - Break-even
24. Summary - Sales forecasting, sales revenue & costs
25. Summary - Planning cash flow
26. Summary - Internal & external finance
27. Summary - Legislation
28. Summary - Economic influences
29. Summary - Quality management
30. Summary - Stock control
31. Summary - Capacity utilisation
32. Summary - Production, productivity and efficiency
33. Summary - Managing change
34. Summary - Human resources and competitiveness
35. Summary - Ratio analysis
36. Summary - Financial statements
37. Summary - Business ethics and csr
38. Summary - Shareholders vs stakeholders
39. Summary - Corporate influences and culture
40. Summary - Critical path analysis
41. Summary - Decision trees
42. Summary - Investment appraisal
43. Summary - Quantitative sales forecasting
44. Summary - Mergers and takeovers
45. Summary - Business growth
46. Summary - Swot analysis and external influences
47. Summary - Corporate strategy
48. Summary - Corporate objectives
49. Summary - Multinationals
50. Summary - Global marketing
51. Summary - Global competitiveness
52. Summary - Global mergers and joint ventures
53. Summary - Global markets
54. Summary - Protectionism and trading blocs
55. Summary - International trade and globalisation
56. Summary - Growing economies
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Theme 4 Topic 1
Growing Economies
Economic Growth of World Markets
Economic growth is measured by changes in GDP (Gross Domestic Product) from one year to the next

Emerging Economy – one with the potential to grow more quickly than more mature markets in terms of
economic growth

BRICS and MINT

Economists group emerging economies together e.g. the MINT economies or the BRICS economies

Brazil Mexico
Russia Indonesia
India Nigeria
China Turkey
South Africa

When an emerging market is expanding incomes tend to rise therefore spending rises especially on income
elastic goods

Despite opportunities for firms to set up or sell to emerging markets there are many other factors to be
considered:

 The overall size of the economy
 Average incomes
 Import restrictions and government regulations
 Quality of infrastructure
 Different cultures

Growing Economic Power of Asian, African and other countries
 The BRICS and MINT economies have become more powerful due to their growth over the past few
year
- China has now overtaken the US as the worlds largest economy
- Instead of making components for non-Chinese firms it is becoming strong in Chinese products
e.g. Lenovo
- China has excellent clusters of suppliers, excellent infrastructure and access to lower labour
throughout South East Asia
- Chinese consumers are spending more each year driving higher demand and local production
 Roughly 70% of world GDP growth is likely to come from emerging market economies with China and
India accounting for 40-50%

Brazil  Problem = breaking out of middle income band countries
 Spends a high % of GDP on education
 Middle-range, semi-developed country – 15% working in agriculture
 21.4% of population below poverty line
 Main economic strengths in commodity production (e.g. coffee, mining) and medium-
level manufacturing e.g. textiles
 Outside investments boosted output levels in Brazils car industry
Russia  Very low rate of illiteracy – 0.3%
 Hugely reliant on commodity production, especially oil and gas
 Most of its economic growth is from high oil prices
 In past it represented a wonderful market for luxury products – unlikely to recur
India  The Indian economy slowed sharply when government anti-inflation policies pushed

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