• 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)

    The Amsterdam Treaty incorporated the Schengen Agreement. The Fiscal barriers which translated into national differences in indirect taxation levels, impacted negatively on proposals to approximate VAT rates when governments realized that they might lose useful sources of income and might have to impose or increase tax in certain goods, such

  2. What does citizenship mean in the European context?

    Democracy is safeguarded in that way. And citizenship? Citizenship on this view must remain in the exclusive domain of the Member States through whose authority the Community and Union may function with legitimacy Consider first Article 8 itself.

  1. The Institution of the European Union and Theories.

    Firms do not have to pay taxes on imports and exports in the European Union so less costs are incurred. This in return will benefit the firms as more sales can be achieved and increase in profits. The Maastricht treaty helped many businesses as it created more money for these firms.

  2. Issues pertaining to the professional conduct of IT professionals

    The key way in which the above-mentioned societies have tried to deal with professionalism is the idea of a code of conduct The Code of Conduct stipulated by ACM, IEEE and BCS bear many resemblances with SLIGHT differences, as they all aim to achieve very similar objectives.

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

    SWIFT, a standard-setting company in the (international) money transfer market, notes on its website that in 2003, on average 50,000 cross-border transfers were made each day; this is negligible compared to the 50 million payments that are carried out per day domestically in France alone (Reuters, 2003).

  2. Road freight transport - Paying its way?

    In the other side, when a lorry crosses a tunnel, the noise made is very low for people living in the closest area. The impacts on enviroment depend also on the vehicle category, condition and location during its journey. Moreover, environmental damages caused by transport activities may be instantaneous (noise),

  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. The European Community and ECJ

    direct effect to provisions as long as they were obeying the context of Community Law. This decision increased the impact and effectiveness of EC law in the MS and furthermore, established the customs union as a key element of negative integration within the Community.

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