Similar Qs/Answer-Business

Take Your Pants Off

Getting kind of confused between these two:

(B) Analyse how the changing trends in the international economy have impacted on Irish
businesses. -2010

A) Discuss how the changing nature of the international economy affects Irish exporters. -2011

My answer to 2011 was:

Currency Fluctuations
• If the euro strengthens against other currencies, such as sterling, it means Irish exports become more expensive and less competitive.
• The UK is a huge market for Irish exporters so it is important for Irish exports to develop markets where sterling is not the currency.

Globalisation
• Growth of globalisation and multinationals that produce high quality products at low prices make it difficult for indigenous firms to compete even on the home market
• Irish exports may have to identify niche markets or enter into international strategic alliances to able to compete.

Development in technology
• Internet, email, video-conferencing speed up communication and decision-making
• Make it easier for Irish exporters to market their goods and services to foreign markets and not depend on small home market.

Expansion of EU
• Free movement of goods,services,labour and capital has a massive impact on industry and employment
• As new eastern European countries join they will sell lower price goods into barrier free countries
• New competition for Irelands exporters will make it difficult for them to complete profitably e.g. with agriculture goods.


Looked into marking scheme but they had similar points for both years, in the case for businesses would just changing the word exporter to business do?? or would I have to go and answer it in a different aspect all together

Thanks

Bazinga_N

Take Your Pants Off wrote: »

Getting kind of confused between these two:

(B) Analyse how the changing trends in the international economy have impacted on Irish
businesses. -2010

A) Discuss how the changing nature of the international economy affects Irish exporters. -2011

My answer to 2011 was:

Currency Fluctuations
• If the euro strengthens against other currencies, such as sterling, it means Irish exports become more expensive and less competitive.
• The UK is a huge market for Irish exporters so it is important for Irish exports to develop markets where sterling is not the currency.

Globalisation
• Growth of globalisation and multinationals that produce high quality products at low prices make it difficult for indigenous firms to compete even on the home market
• Irish exports may have to identify niche markets or enter into international strategic alliances to able to compete.

Development in technology
• Internet, email, video-conferencing speed up communication and decision-making
• Make it easier for Irish exporters to market their goods and services to foreign markets and not depend on small home market.

Expansion of EU
• Free movement of goods,services,labour and capital has a massive impact on industry and employment
• As new eastern European countries join they will sell lower price goods into barrier free countries
• New competition for Irelands exporters will make it difficult for them to complete profitably e.g. with agriculture goods.


Looked into marking scheme but they had similar points for both years, in the case for businesses would just changing the word exporter to business do?? or would I have to go and answer it in a different aspect all together

Thanks

The difference is that not all Irish businesses are exporters. Granted though, what affects Irish businesses and what affects Irish exporters would be very similar. I suppose the biggest difference would be that Barriers to Trade (and the reduction of them at present) would have a greater impact on exporters.

There's really nothing wrong with re-using points for multiple questions if they're relevant points to each question.

Take Your Pants Off

Bazinga_N wrote: »

The difference is that not all Irish businesses are exporters. Granted though, what affects Irish businesses and what affects Irish exporters would be very similar. I suppose the biggest difference would be that Barriers to Trade (and the reduction of them at present) would have a greater impact on exporters.

There's really nothing wrong with re-using points for multiple questions if they're relevant points to each question.

Thank you Bazinga