INTERNATIONAL BUSINESS (TUTORIAL 16 JUNE 2014)

QUESTION 1
Is globalization good or bad? (debate)
Good
- Technology makes communication borderless - Economic development
- Improved currency - Business expansion
- Efficient products and many choices - Diplomatic relations
- Increased job opportunities - Exchange information
- Tolerance towards differences among countries - Specialization in production
- Transfer of technology, - Better standard of living
knowledge, professionals etc

Bad
- Losing identity of a nation - Local competition
- Ethical implications - Exploitation of natural resources
- Manipulation of big powers/firms - Environmental degradation
- Take away opportunities of local firms - Health impacts
- Destruction of products (many unsold products) - Cultural diversity (language
barrier)

QUESTION 2
What can African countries do to encourage more foreign investment in their economies?
- Improve local labors skills eg: training
- Improve educational system
- Promoting African countries to the world eg: tourism, events
- Free trade need to be more flexible (regional integrations)
- Utilization of resources
- Focus on production, specialization eg: coffee bean
- Africans should be united (put aside the differences)
- Political stability also plays its role
- Collaborate with the existing foreign investors
- Create more job opportunities