Introduction to business in a global environment pdf download

The main difference between standard of living and quality of life is that Standard of living factors such as gross domestic product, poverty rate and environmental quality, can all be measured and defined with numbers, while quality of life factors like equal protection of the law, freedom from discrimination and freedom of religion, are more difficult to measure and are particularly qualitative. Poor health, education and skills will lead to poor output and hence standard of living.

As the labour force increases, so should output. Infant mortality will also be reduced due to better health services, both prenatal and antenatal. National Income and Its Variants National income is the total output of a country for a given period of time, measured in terms of the money value of total production of goods and services.

The national income of a country divided by its population. The higher the value, the higher the standard of living. Economic growth refers to a quantitative increase in the level of income or output of a country and is measured by GDP. Negative growth indicates that a country is doing worse than the previous year. Zero growth indicates that there has been no change from the previous year. However, economic development refers to changes in the economy and improvements in the quality of life.

It includes the provision of facilities that enable growth to take place e. Economic development leads to economic growth e. International Trade This is the exchange of goods and services between countries. Reasons for international trade Reasons why countries trade with each other: a One country may not be endowed with certain assets or have the natural resources such as land, labour, capital or enterprise to produce the goods that they need.

It can promote political links between countries through the signing of trade agreements. Major economic problems of the Caribbean 1.

Most of them are unable to afford adequate medical care, education and nutritious food. There are various types of unemployment: i Cyclical unemployment: This results from changes in the trade cycle e. The opposite is true when demand for goods is reduced. Individuals can gain certificates in various subjects and skills which would make them more marketable.

This increase in demand could mean an increase in workers needed. Barbados has a high population density because there are too many people in the country, given the total amount of land available for living.

More people may also lead to increase in crime, pollution and traffic congestion. If the Caribbean continues to subsidize education and then individuals move away, the region will not benefit from its investment. This can have a negative impact on the development of the country. Reduce imports saving foreign exchange and increase exports in order to generate income which can be used either to develop the country or pay off existing debt.

Increase taxes and use the funds to repay loans. This is not a popular solution and may only be used as a last resort. This may be due to the high prices and this can limit production.

The developed sector is the one which gets the majority of the investment dollars. The modern sector also tends to pay higher wages and attracts more educated persons.

This can crate industrial unrest because those in the traditional sector may try to get higher wages which cannot be paid by the employers. Reduction of import duties on raw materials and other necessities from abroad ii. Subsidies on equipment, factory space etc. Encourage investment v. Enact legislation which would make trading easier N. The role, benefits and impact of foreign investment.

Foreign Investment: A category of cross-border investment associated with a resident in one economy having control or a significant degree of influence on the management of an enterprise that is resident in another economy.

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Check your syllabus or ask your instructor if a bundle is required. Individual Product Details. Activity Discuss strategies to address issues affecting business activities in a specified country Please write your answer here keep the original formatting.

Discuss using an analysis, for example, advantages and disadvantages the adoption of different strategies and business models class 3, week 2 for a small variety of different types of businesses within your specified country.

Your booklet must in addition assess the opportunities and challenges to a specific business organisation of operating in your named country The learner must identify the organisation and the country which are the basis for their work. The assessment must consider the strengths and weaknesses of the opportunities and challenges and lead to personal judgements.

Assess the opportunities and challenges to a specific business organisation operating in a specified country Please write your answer here keep the original formatting ……. Evaluatethe adoption of different strategies and business models class 3, week 2 for a small variety of different types of businesses within your specified country. In practice, this means using a reasoned judgement of output of the analysis, i. Read less.

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