• 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. Road freight transport - Paying its way?

    That is why this impact is diffcult to tax. - Congestion Approximately 7.500 km, i.e. 10% of the main road network, are concerned by serious and daily congestion problems in Europe (OJEC 1999). A report (The Observer 2001), says that Britain has the most congested thoroughfares in Europe, with a quarter of British main roads jammed up for at

  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. An examination of British policy with regard to European Unity during the period 1945 ...

    At this point British policy is open to further criticism. In reality Britain's "former greatness had been swept away by a revolution in the global distribution of power" (Shlaim, 1978: 96). As McNeill noted at the time, "the United States became heir to Britain's world position" (McNeill, 1944 in Shlaim, 1978: 97).

  1. The European society is what we can call a " low context culture" where ...

    company is one of the most important qualities that can bring difference in term of good or bad management. The important of don't lose face and stay calm is relevant in this cultures. On the other hand a mean of 2.87 for the American it doesn't mean that the European don't consider respect important quality.

  2. "The UK has consistently held back European integration and as such, held back European ...

    This all has resulted in better efficiency for the European Union and their businesses. The UK's membership in the EU was only for the access into the Single European Market but it also meant that the UK and to harmonise with the rest of the EU and their policies such as social, regional and environmental etc.

  1. What does citizenship mean in the European context?

    of characteristics over all other, calls on the self to identify with that, and is then posited as identity. It is equally trite to recall that the modern self has considerable problems with the move from Identical to Identity to Identify.

  2. Issues pertaining to the professional conduct of IT professionals

    The societies have also created links with the main employers be it at a regional, national or global level. This has worked out well at both ends as the societies can associate themselves with major firms, while the major firms can rest assured that their prospective employees will be under the adjudication of the relevant IT society.

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