Globalisation
Globalisation is increasing cross-border integration of markets, production, finance, knowledge and other activities. It can expand opportunities while increasing exposure to international competition, dependencies and disruption. It does not mean that national laws, cultures or customer preferences disappear, nor that integration must increase continuously.
Worked example
A small manufacturer sources components overseas and sells through an international platform. It gains access to suppliers and customers but must manage logistics, local requirements and disruption across borders.
Common mistake
Assuming globalisation automatically benefits every stakeholder or makes one identical strategy suitable in every country.
Where it appears in your exams
| Qualification | Exam | Relationship | Period |
|---|---|---|---|
| ACCA | BT | Supporting | September 2026–June 2027 |
| ACCA | SBL | Supporting | September 2026–June 2027 |
| FIA | FBT | Supporting | September 2026–June 2027 |