- The concept of globalisation and the reasons for it
- Opportunities and threats of globalisation for businesses
- Why governments might introduce import tariffs and import quotas
- Benefits to a business of becoming a multinational and the impact on its stakeholders
- Potential benefits to a country and economy where a MNC is located
- Potential drawbacks to a country and economy where a MNC is located
Business must increasingly have an international outlook to survive and thrive. 6.3 is all about examining the opportunities and threats for all businesses, and stakeholders in the interconnected global economy. You may be asked questions like this:
|Past Paper Question Example
Paper 1 (c) Outline how the appreciation of country B’s exchange rate might affect ABC. 
Paper 2 (a) Explain four reasons why globalisation may impact a business 
6.3.1 The Importance of Globalisation
The concept of globalisation and the reasons for it
Globalisation is the increased interconnectedness and worldwide movement of goods, services, capital and people.
Globalisation impacts every business and consumer.