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Business Studies IGCSEPDF 189
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● Ignoring social responsibility can lead to public backlash, fines, and brand
damage.
● Being environmentally and ethically responsible can improve long-term survival,
brand image, and stakeholder relationships.
● Sustainable development and ethical decision-making are key for future-oriented
businesses
6.3 Business and the International
Economy
1. Globalisation
Definition:
Globalisation refers to the growing interdependence and integration of the world’s
economies. It involves the increased movement of goods, services, people, and capital
across national borders.
In a globalised world:
● The same goods and services are sold across multiple countries.
● Workers can migrate abroad for jobs.
● Money, investments, and ideas flow quickly between nations.
Example: Apple designs in the US, manufactures in China, and sells
worldwide.
2. Causes of Globalisation