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Essay / Research Paper Abstract
This 10 page paper considers how globalization is able to lower costs. The paper looks at issues such as how production or supply may be maximised making use of the theory of diminishing returns, the impact of elasticity and the way that input and outputs can all be managed to decrease costs. The bibliography cites 7 sources.
Page Count:
10 pages (~225 words per page)
File: TS14_TEglocost.rtf
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Unformatted sample text from the term paper:
costs and creating potential for increased value in the value chain. In looking at any business there will be a range of
factors impacting on the decision to enter into the global market. These may be push or pull factors. Where the move is protective, seeking to diversity and spread risk, or
to move to markets in earlier stages of the product or service lifecycle due to maturity in the home market, and difficulty increasing or even maintaining market share are all
push factors. Pull factors may be the attraction of another market, such as recent entrance into the global market, as seen with China and the potential to increase sales in
a more aggressive strategic stance. Whichever the reason, the decision will be made on a logical basis, with globalisation offering the opportunity to reduce costs and as a result maximise
the return. Looking at the way that globalisation increases the potential to reduce costs there is a greater opportunity to maximise returns with
the use of marginal analysis, this may mean increasing demand with expansion into other markets, or the increased use of more facilities to increase capacity and maximise returns, meaning making
the most return when compared to the costs. This, along with an understanding of the elasticity may also help increase return by maximising the level of the price that can
be obtained. First we will consider a marginal analysis and the way that this is seen with the use of elasticity. The
way in which supply and demand are determined by the equilibrium that is reached between the supply of a product and the demand for it leading to a specific price.
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