Specific Influences on Global Business (1 Viewer)

[frootloop]

Hey I'm currently typing up my notes and I am up to this part. I write my notes so that they coincide with the syllabus...

In the syllabus, under Political Influences it says:

- International organisations and treaties (World Trade Organisation)

But in my textbook (Business Studies in Action) it also mentions United Nations, World Bank, International Monetary Fund, Bank for International Settlement. Are we expected to know all these or JUST the WTO?

Additionally, under...

- Trade agreements

The book mentions trading blocs such as: The European Union, North American Free Trade Agreement, Association of South-East Asian Nations, in addition to APEC. However, since we should be studying Australian businesses are we expected to only know about APEC?

Sorry to be so pedantic... but any help would be great!

 

[exa_boi87]

Knowledge of those specific trade agreements can prove useful if an extended response question specifies a world region in which they intend to expand to. Dropping facts like that in is great to support an argument, as well as opening a range of extra avenues from which to discuss (eg: EU's common currency, removal of financial risk from fluctuating economic markets when trading within the union)