Advanced Business Vocabulary

Globalisation has transformed the way businesses operate by opening up access to , allowing companies to sell products and services across borders. However, it also means that businesses must navigate different regulations, including , which can make imported goods more expensive. Many companies take advantage of to reduce costs by sourcing parts or services from abroad. The movement towards has reduced barriers to international commerce, making it easier for businesses to access new customers. agreements between countries further facilitate trade by removing or lowering trade barriers.

A global allows businesses to distribute their products worldwide, but it also exposes them to risks such as political instability. One of the positive aspects of globalisation is the increase in , where ideas, traditions, and products from different cultures spread across borders. Additionally, globalisation encourages , which can help developing countries grow their economies.