International Business and the European Union
International Business and Europe
Introduction
In this assignment I will be concentrating on International Business and the European Union and how it has an effect on businesses in the U.K.
The aim of the assignment to use a U.K based organisation as a scenario. I will be writing the assignment based on a report for the Board of Directors from my chosen company.
The company I have chosen is a vehicle manufacturer called Octopus Vehicle’s. They currently have been given the opportunity to supply EU sourced cars and export them to many countries around the world. They have been offered offices based in Spain and Holland and currently have one in the U.K.
TASK 1
International Trade, Economics, and Global Markets
In this chapter I will be discussing the effect that international trade and globalisation have on U.K business and in particular how it affects Octopus Vehicle Imports. I will also discuss the challenges and opportunities that Octopus Vehicle’s face if they decide to trade internationally.
Trade Blocs are nations that have a mutual trade pact. They agree to give each other reduced tariffs and other accommodations. Trade blocs will impose trade barriers and restrictions on non-member countries. Today the world is increasingly divided in trade blocs, they play a central role in international trade negotiations. Some examples of trade blocs are:
NAFTA – The U.S has linked with Canada and Mexico to form a free trade zone, the North American Free Trade Agreement. It covers environmental and labour issues as well as trade and investment.
APEC – It has 21 members which account for 45% of world trade. Some of the members include Australia, Canada, Chile, China, Singapore, New Zealand and the U.S.
E.U – It has 27 members and has become the most powerful trading bloc in the world with GDP nearly as large as the U.S.
One of the main challenges for Octopus Vehicles will be the threats imposed by foreign firms. U.K exporting firms are finding it
Introduction
In this assignment I will be concentrating on International Business and the European Union and how it has an effect on businesses in the U.K.
The aim of the assignment to use a U.K based organisation as a scenario. I will be writing the assignment based on a report for the Board of Directors from my chosen company.
The company I have chosen is a vehicle manufacturer called Octopus Vehicle’s. They currently have been given the opportunity to supply EU sourced cars and export them to many countries around the world. They have been offered offices based in Spain and Holland and currently have one in the U.K.
TASK 1
International Trade, Economics, and Global Markets
In this chapter I will be discussing the effect that international trade and globalisation have on U.K business and in particular how it affects Octopus Vehicle Imports. I will also discuss the challenges and opportunities that Octopus Vehicle’s face if they decide to trade internationally.
Trade Blocs are nations that have a mutual trade pact. They agree to give each other reduced tariffs and other accommodations. Trade blocs will impose trade barriers and restrictions on non-member countries. Today the world is increasingly divided in trade blocs, they play a central role in international trade negotiations. Some examples of trade blocs are:
NAFTA – The U.S has linked with Canada and Mexico to form a free trade zone, the North American Free Trade Agreement. It covers environmental and labour issues as well as trade and investment.
APEC – It has 21 members which account for 45% of world trade. Some of the members include Australia, Canada, Chile, China, Singapore, New Zealand and the U.S.
E.U – It has 27 members and has become the most powerful trading bloc in the world with GDP nearly as large as the U.S.
One of the main challenges for Octopus Vehicles will be the threats imposed by foreign firms. U.K exporting firms are finding it
Bibliography: www.civitas.com www.economicshelp.org.uk www.europa.com Craven College VLE Wikipedia