• Join over 1.2 million students every month
  • Accelerate your learning by 29%
  • Unlimited access from just £6.99 per month

Discuss the impact of the Single European Act on European Business and European Economies in General

Extracts from this document...

Introduction

European Business Internal Assignment 1 By: Lecturer: Class: 2K - 2nd year Diploma in business Date: 30th September 2004 Discuss the impact of the Single European Act on European Business and European Economies in General The Single European Market has made great changes in the European business sector. The mutual recognition of standards has helped to remove barriers and maximize scale economies. Businesses can bid for public sector contracts outside their home state and operate freely within the European Union markets. The movement of capital has increased cross-border investments. Individuals can move freely with recognition of their professional and high education qualifications. Consumers enjoy better prices as a consequence of single market liberalization. The abolition of customs, fiscal formalities and technical barriers have created competition in community markets, this has encouraged economies growth, to investment and to employment creation. ...read more.

Middle

The advantages that such an investor aims at are: ? Closeness to the market - a thoroughly better joined market in order not to waste as much time and money. ? Better market information - by being closer to one another information is easier to obtain and thus action may be taken at a quicker pace ? Stimulating demand - when introducing a new competition to the market, one then has a raise in the level of the market demand. ? Raises image and local identity - one must be aware when competing in a foreign country, due to the local cultures, and the way local customers look at the firm. ? Access to public procurement - access for European Union members is accessible but non European Union members would have to have a local market presence to be eligible. ...read more.

Conclusion

? Due to joining costs in insurers and financiers have reduced, due to being one common market. ? Expanding the organisation is nowadays encouraged. Due to lower expenses and less documentation, and no barriers. Although we have seen many advantages / benefits, there are also many Threats and Challenges for the European businesses. These are: ? Competition increases, as big organisation may now sell their production your market. ? Due to more competition and an increase in products, prices may be reduced. ? Small organisations might close due to having larger competition thus they would not be able to cope with such low prices. In this way by joining the European members and allowing them to compete within, businesses may now consider the whole market with no barriers or not as many disadvantages to stop such an opportunity. ...read more.

The above preview is unformatted text

This student written piece of work is one of many that can be found in our AS and A Level European Union section.

Found what you're looking for?

  • Start learning 29% faster today
  • 150,000+ documents available
  • Just £6.99 a month

Not the one? Search for your essay title...
  • Join over 1.2 million students every month
  • Accelerate your learning by 29%
  • Unlimited access from just £6.99 per month

See related essaysSee related essays

Related AS and A Level European Union essays

  1. Marked by a teacher

    Has the creation of the Single European Market been a success?

    4 star(s)

    and capital in the EC would cost more than the liberalization of these restrictions that would bring a 4.5 per cent benefit to the EC's Gross Domestic Product. Still according to Archer C. even the British Prime Minister, the euro sceptic Margaret Thatcher saw the Single European Market in positive

  2. What does citizenship mean in the European context?

    One has to believe that the High Contracting Parties understood the fundamental nature of citizenship in redefining the nature of the Union -- and it is this understanding, rather than misunderstanding which lead them to the desultory Article 8. But why, then, open Pandora's box at all?

  1. Issues pertaining to the professional conduct of IT professionals

    negligence are much harder to deal with and suggests that the IT societies to date are having a problem with this. This surely doesn't help businesses, as negligence can often be more dangerous than misconduct of a worker. It should also be noted that the only way a disciplinary committee

  2. Regulation 2560/2001 on cross-border payments in Europe.

    The ultimate goal is to create a Single European Payment Area (SEPA). SEPA should extend beyond the debit and credit transfers that are dealt with by Regulation 2560/2001. Some very specific instruments, such as bills of exchange, money market instruments and commercial papers, as well as cheques2, will not be part of SEPA, but all other means of payments are.

  1. HND European Business

    A more diverse European labour market a) Opportunities for British and other EU(15) businesses to import lower cost skilled labour in areas where there are severe labour shortages b) Migration of labour from accession countries may help to offset longer-term effects of ageing populations / slow growth of population of working age c)

  2. Road freight transport - Paying its way?

    but also extend far into the future to several hundreds of years (greenhouse gases) (Ricci & Rainer 1999). Again, current taxes on lorries, do not reflect the real damage they cause to the environment. Pollution The first dimension of the environmental impact is air pollution, the transport sector accounts for

  1. The European Community Merger Regulation

    If doubts exist, the Commission will initiate a full ("Phase II") investigation. Clearance of a merger at Phase I or Phase II may be conditional on commitments given by the parties to allay competition concerns. The time-limit at Phase I may be extended to six weeks if the parties negotiate commitments.

  2. The European Community and ECJ

    prohibited irrespectively of any consideration of the purpose for which they were introduced. It was sufficient therefore that the charge was imposed on goods by reason of the fact that they had crossed a border. The same applied to C 24/68 Commission v Italy (Re Statistical Levy).

  • Over 160,000 pieces
    of student written work
  • Annotated by
    experienced teachers
  • Ideas and feedback to
    improve your own work