Have an account?
What are the driving forces of globalization?
Improvement in transportation technology
Improvement in communication technology
Rise of SMEs
Shrinking of the world
Under the improvement in transportation technology, there is the concept of containerization. How does this encourage globalization?
With the improvement of communication technology, corporations are more likely to set up businesses internationally. Why so?
Easier to manage operations from their home country
More convenient to access information
Goods move across borders faster
Which of the two below are MNCs?
Why does MNCs cause an increase in the pace of globalization?
What are some negative consequences that can occur when there is an economic downturn?
Individuals might be unemployed and thus lower standard of living
Countries will withdraw their investments and demand of goods from another country
Companies have lesser profits and thus retrench workers
All of the above
What are some ways that companies can remain competitive in the the world?
Open themselves to the wider global market
Outsource to other countries for lower costs
Innovation to differentiate themselves
All of the above
What are some challenges which individuals could face with globalization? (At least 50 words)
What are some benefits that individuals can reap from globalization?
A larger selection of choices
More competition for jobs
Possible social mobility by travelling to other countries to work
How do Free Trade Agreements help benefit Singapore?
The Foreign Direct Investment is the investments in a Singaporean company by a foreign company. What are some benefits?
Government has less taxes
Individuals has more competition
Expand business activities
Individuals have more jobs
How does Skillsfuture help individuals cope with the challenges of globalization?
How can the Government help SMEs to benefit from globalization? (At least 50 words)