1. Nature of global competition

2. Trade barriers
Costs of Production
The Behaviour of Businesses
International Organisations and Groupings of Developed Economies

3. Trade barriers
The world is full of trade barriers which make exports and imports more difficult and more expensive.
Compared to past, barriers have reduced, due to WTO

4. Costs of Production
Competing in a market depends on having as low or preferably lower costs of production than competitors.
not as simple as having access to cheap raw material and other factor inputs
What counts is productivity ie the amount of output produced from a given amount of input.

5. The Behaviour of Businesses
Low costs are a good place to start a new business from, but you still have to sell the product.
A change in business behaviour is often needed to ensure that the customers are the prime focus of business activity, that their needs are fully met (including adapting as these needs change – innovation) and that the low and efficient costs are used as a platform for successful fulfilment of those needs.

6. International Organisations and Groupings of Developed Economies
The European Union
The World Trade organisation
G-7
The OECD

7. Eastern Europe
Developing Economies