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global consumer culture
global culture where social status, values, and activities are centred on the consumption of goods and services
offshoring
moving jobs to other countries
outsourcing
moving jobs to other organisations
pull factors
factors enticing firms into new markets
push factors
factors in the existing market encouraging an organisation to seek international opportunities
risk
probability of a bad event multiplied by negative impact
saturation
point when most customers who want to buy a product already have it, limited sales growth
demonsetisation
removing the value of a note or coin so that it is no longer able to be used as money
disposable income
amount of money a person has left over for consumption and savings
open economy
where a country allows the free movement of goods, services, capital and labour into and out of the economy
reshoring
bringing production back home after using foreign production facilities for a period of time
brand recognition
how people identify a brand by its features and attributes
copyright
legal right that grants the creator of an original work the sole right to determine and decide whether, and under what conditions, this original work may be used by others
franchise
a business (the franchisor) allows another operator (the franchisee) to trade under their name
global mergers
two or more businesses from different countries join together and operate as one
intellectual property (IP)
a product that is a creation of the mind that the law protects from unauthorised use by others
joint venture
two or more businesses co-operate to share the costs and profits from a business venture
licensing
contract with another firm to use its intellectual property or to produce its product or service in return for a fee
pricing power
effect that a change in a firm's product price has on the quantity demanded of that product
Note 
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