4.2 Global markets and business expansion

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The key drivers behind economic development

  • Willingness to accept inward investment from multinationals

  • More enterprising behavior from local businesses

  • More stable government

  • Easier access to export markets due to improvements in transport and communication: globalisation

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Push factors

These are reasons driving a firm away from its domestic market

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Pull factors

These are reasons to attract a business to a foreign market

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Examples of push factors

  • Saturated markets

  • Competition

  • Extending product life cycle

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