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Factors Driving Global Commerce and Trade

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Added on  2023/02/02

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This presentation outlines the key factors related to cost, market, environment and competition that influences global trade and commerce. It also emphasises on complexities of strategic challenges faced by organisation for operating a global environment.

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Global Business
environment

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Introduction
Globalisation refers to develop international influence and to start operation on
international market. It increases interaction between public and employees of companies
which adds value to organisation.
Study lay emphasises on CAMECO which is the fastest growing Canadian energy and
chemical company.
This presentation outlines the key factors related to cost, market, environment and
competition that influences global trade and commerce.
It also emphasises on complexities of strategic challenges faced by organisation for
operating a global environment.
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Factors that drives Global
Commerce and Trade
Transportation Cost
Factors which enhances global trade and commerce is transportation of goods
and services.
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Technological change-
As technology is getting enhanced speedily due to which every company has to
adopt technology to stand in competitive environment.
To have global trade effectively then, by taking help of technology like online
platforms where information is being shared in seconds so that, clients of
company get their product on time without any interruptions involved.

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Demand-
Increasing demand of particular product is an important part of global trade.
Company need to be in favour of demand of customers and make them
satisfied.
Company can also launch another product against favourable brand at lowered
price to gain competitive advantage.
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Pollution-
Through globalisation, chemicals used in industry to make their products affect
environment and make it polluted.
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Outsource Manufacturing-
When a company choose another developing country to manufacture their
product then it makes a competitive advantage to have low manufacturing cost.

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Strategic challenges faced by
organisation
Global trade means buying and selling of goods and services across
international boundaries.
It is simply importing and exporting of goods and services.
To have resources in good proportion and at low cost, to satisfy customers need
every company want globalisation.
But when dealing with global market, there are some challenges faced by
organisation which are explained by PESTEL analysis.
Pestel stands for political, economic, social, technological, environmental and
legal.
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PESTEL Analysis
Political Analysis-
Every country has its own government. It creates risk for global industries to
make stability internationally.
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Economic Analysis-
Every country has its own currency. Value of currency depends on U.S. Dollar.

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Social Analysis-
Publicity and popularity are major factors for global trade.
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Technological Analysis-
Technology is getting advanced more and more nowadays.
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Environmental Analysis-
Communication is major factor of market share in industries.

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Legal analysis-
Every country has its own legal rules and regulations for making laws which
are mandatory to be adopted by each and every industry.
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Recommendations
Management of Cameco focussed on hiring those employees who have knowledge of
foreign languages so that communication for international trade becomes effective and
efficient.
Analyse the rules and regulations first to set project across international boundaries so
that it do not take time after getting permission from foreign government.
Cameco employees should have such power to give innovative ideas to adopt new
technology that gains competitive advantage.
Evaluate those developing countries first where currency rates are low so that It make
more profitability for Cameco.
In political issues, Cameco should analyse the area and plan to launch a new project as
it increase popularity.
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Conclusion
This presentation summarised about key factors that drives globalisation which
are related to cost, market, environment and competition.
PESTEL analysis had been done to analyse complexities that industry faces for
operating in global market.
It was concluded that Global trade is efficient dealing between customers and
sellers of goods or services across international boundaries that provide huge
competitive advantage and increases market share.
Globalisation needed planned strategies to have better result in their
productivity and popularity. It increases global chain of industry and expanded
corporate structure worldwide.

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References
Boateng, P.A. and et,al., 2016. Strategic planning process formality: a model.
VVU Journal of Business Research. 1(2). pp.52-64.
Martell, L., 2016. The sociology of globalization. John Wiley & Sons.
Van Neuss, L., 2019. The drivers of structural change. Journal of Economic
Surveys. 33(1). pp.309-349.
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