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Aussie Machinery and Farm Supplies (AMFS) was nominated for the 2005 Australian Exporter of the Year Award - HSC - SSCE Business Studies - Question 23 - 2006 - Paper 1
Question 23
Aussie Machinery and Farm Supplies (AMFS) was nominated for the 2005 Australian Exporter of the Year Award. AMFS has a reputation for superior environmentally respon... show full transcript
Worked Solution & Example Answer:Aussie Machinery and Farm Supplies (AMFS) was nominated for the 2005 Australian Exporter of the Year Award - HSC - SSCE Business Studies - Question 23 - 2006 - Paper 1
Step 1
Identify ONE feature of globalisation.
Answer
One significant feature of globalisation is the increased interconnectedness of economies worldwide, often facilitated by advancements in technology and communication. This allows businesses to operate beyond their national borders, accessing new markets and resources.
Step 2
Describe ONE trend in globalisation that may have contributed to the growth of AMFS.
Answer
A notable trend in globalisation that may have contributed to the growth of AMFS is the expansion of free trade agreements. These agreements reduce tariffs and other barriers to trade, enabling AMFS to enter and compete in international markets more effectively. By leveraging these agreements, AMFS can reach a broader customer base, increase sales, and expand its operations in various countries, thereby fostering business growth.