Brexit - Pros and Cons of leaving the EU
https://ilokabenneth.blogspot.com/2017/04/brexit-pros-and-cons-of-leaving-eu.html
Author: Iloka Benneth Chiemelie
Published: 2nd April 2017
1. Discuss the significance of IT
2. Discuss the significance of IT to UK
business organisations
3. Analyse the impact of global factors on UK business organisations
4. List the members of the EU
5. List four examples of the single European
market in action
6. Do you think a single currency benefits
business?
7. For and against EMU
8. What are the advantages and disadvantages
for the UK, as a country, in accepting a single currency?
9. Name few policies of EU
10. Brexit - the people and arguments for and against / UK
should remain or leave EU?
References
Published: 2nd April 2017
1. Discuss the significance of IT
The importance of information technology is vast and across
industries as discussed below
·
Business
management (Quinonez, 2014) – in the modern
business world, fast decision making process does influence chances of company
to survive. IT makes the process of business management more effective and
efficient because it allow companies to gather, process and retain essential
information that are used to foster decision making process.
·
Education (Quinonez, 2014) – IT is also
important in the academic world as teachers and students can now sources
information easily via established academic database. Additionally, it allows
for distance learning; which increases overall literacy level across the globe.
·
Finance
and Commerce (Quinonez, 2014) – IT is also
crucial in the finance and commerce world. It allows companies to transact
online and on-time across the globe. With the aid of a website, a company can
sale its products, get paid via PAYPAL and deliver the products to the customer
with the aid of DHL.
·
Healthcare (Quinonez, 2014) – Gone are the
days that patients are mandated to visit a doctor in order to get treatment.
With advancement in IT, patients can now get instant checkup via phone call or
hospital support systems. Thus, IT improves overall healthcare system.
·
Security (Quinonez, 2014) – IT has also
improved security networks across the globe. With the aid of CCVTV,
corporations can now monitor all movement with its sphere and ensure that both
the company and staffs are not exposed to any form of security breach.
Additionally, it offers individual security across homes and other personal
properties.
2. Discuss the significance of IT to UK
business organisations
·
Enhanced
decision making (Butt, 2015) – IT offers UK
businesses the advantage of enhanced decision making process by providing them
with accurate and speedy information. Thus, it ensure that business process is
made more effective and efficient.
·
Marketing
and business growth (Butt, 2015) – With the aid
of IT, businesses in UK can internationalize their brands and make sales across
continents without going through the huddle of having to establish branches in
those countries. Thus, it improves exports and sales for the company, as well
UK’s GDP.
·
Customer
support and satisfaction (Butt, 2015) – IT allows
businesses to maintain 24/7 customer service networks. Through such
opportunity, businesses in the UK can make higher sales by connecting with
customers at the right time. Additionally, it enhances overall brand loyalty
and repurchase intention with a resulting positive effect on overall
performance of the company.
·
Resource
management (Butt, 2015) – With the aid
of IT, businesses in the can automate complex problems in relation to
information technology as they now have access to user friendly solutions. For
instance, they can share information with other corporations via Google Docs or
store vital corporate details in iCloud. Thus, IT enhances overall management
of resources.
·
Outsourcing (Butt, 2015) – Besides the
opportunity of exporting finished goods, IT allows companies to import both raw
materials and human resources at a cheaper cost. With the aid of IT, companies
in UK can now compare prices and purchase from “best fit” suppliers
irrespective of their location across the globe.
3. Analyse the impact of global factors on UK business organisations
·
Political factors (Dudovskiy, 2013) - International
trade unions such as WTO and higher level of global political stability helps
ease internationalization of UK corporations. Issues such as terrorism and
political instability does have negative effects on performance of UK
businesses across the globe.
·
Economic factor (Dudovskiy, 2013) – Advanced
economic policies have helped UK corporations to increase sales and
productivity by offering their products and services across the globe.
Globalization of economies also leave UK corporations at high risk due to
redundancy effect. This was exemplified with the case of 2008 global recession.
·
Sociocultural factors (Dudovskiy, 2013) – The world
is transforming to a global community, which allows corporations to segment
their products and services across similar markets found across the globe.
Differences in cultural value means that UK products are not welcome across
certain parts of the world.
·
Technological factors (Dudovskiy, 2013) – UK
corporations have access to advanced technologies and it allows them to
products highly sophisticated products that are valued across the globe.
However, these advanced technologies also require higher maintenance cost and
it can have negative impact on overall competitiveness as they are forced to
sell at higher price.
·
Legal Factors (Dudovskiy, 2013) – UK
corporations are protected across the world with the aid of international laws
such as WTO codes of business operations. However, presence across the globe
also means that they are exposed varied legal consequences in the course of
running their businesses
·
Ecological factors (Dudovskiy, 2013) – Globalization
allows UK corporations to reduce overall impact of business operations on the
countries environment; enhancing sustainability in the process as the
non-environmental friendly functions can be transferred to countries. However,
internationalization increases negative ecological impacts such as higher
emissions from cargo planes.
4. List the members of the EU
·
Austria (1995)
·
Belgium (1958)
·
Bulgaria (2007)
·
Croatia (2013)
·
Cyprus (2004)
·
Czech Republic (2004)
·
Denmark (1973)
·
Estonia (2004)
·
Finland (1995)
·
France (1958)
·
Germany (1958)
·
Greece (1981)
·
Hungary (2004)
·
Ireland (1973)
·
Italy (1958)
·
Latvia (2004)
·
Lithuania (2004)
·
Luxembourg (1958)
·
Malta (2004)
·
Netherlands (1958)
·
Poland (2004)
·
Portugal (1986)
·
Romania (2007)
·
Slovakia (2004)
·
Slovenia (2004)
·
Spain (1986)
·
Sweden (1995)
·
United Kingdom (1973) (European Union, n.d.)
5. List four examples of the single European
market in action
·
Free movement of goods, persons, services and
capital between member states;
·
The approximation of relevant laws, regulations
and administrative provisions between member states;
·
EU-wide competition policy, administered by the
Commission;
·
A system of Common External Tariffs (CET – also
know as the Common Customs Tariff) (Politics.co.uk,
n.d.)
6. Do you think a single currency benefits
business?
No.
7. For and against EMU
·
For –
It helps increase GDP of countries with poor currency as their exchange rate is
increase by using the Euro (History
Learning Site, n.d.) .
·
Against –
it reduces the GDP of countries with higher currencies than the euro (e.g. UK)
as their exchange rate is reduced (History Learning Site, n.d.) .
8. What are the advantages and disadvantages
for the UK, as a country, in accepting a single currency?
·
Advantages
- it reduces issues of currency instability and exchange rates (BBC News,
1997) .
·
Disadvantages
– it reduces the GDP of the country and overall net worth of its citizens as
they will have to accept a fixed lower euro (BBC News, 1997) .
9. Name few policies of EU
·
Agriculture,
fisheries and foods - CAP, rural development, Aquaculture, CFP, food safety
·
Business
- Industry sectors, enterprise policies, SME's, Single Market, free movement,
competitiveness, competition
·
Climate
action - Climate change, Energy for a changing world
·
Cross-cutting
policies - Financial and economic crisis, Europe 2020 – a new economic
strategy, better regulation, sustainable development, multilingualism
·
Culture,
education and youth - Audiovisual and media, culture, education and
training, sport, youth
·
Economy,
finance and tax - Financial Services, Budget, Competition, Customs,
Economy, Fight against fraud, Taxation
·
Employment
and social rights - Employment, social affairs and equal opportunities
·
Energy
and natural resources - Energy, Trans-European networks (European
Commission, n.d.) .
10. Brexit - the people and arguments for and against / UK
should remain or leave EU?
·
How other nations will see Britain if we leave Europe – Some will
see it as powerful as it will be under full control of its army and law. Other
might see it as weak before EU defence and law offers more power (e.g. France,
Germany, Spain etc. are part of the EU defence system) (Riley-Smith, 2016) .
·
Immigration – If UK stays, it will not be able to control
immigration as all citizens of EU member states and citizens of non-EU member
states with Schengen visa can enter the UK. Leaving the EU will give UK full
control over its border (Riley-Smith, 2016) .
·
Britain in the world: a question of reputation and influence – As one of
the founding nations, it will have negative impact on reputation because they
will their decision to leave as weak (Riley-Smith, 2016) .
·
Trade and economy: can Britain perform better in the EU or outside it? -
The EU does not trade major emerging markets such as China and India.
Leaving the EU will allow Britain to trade with these major markets and higher
currency ensure higher purchasing power (Riley-Smith, 2016) .
·
EU intervention and interference, and the concept of the EU – In the
case of economic and security issues, the EU finance and defence system can
provide needed support (for instance the Greece Bailout). Leaving the EU means
that Britain will not be able to benefit from such interventions (Riley-Smith, 2016) .
·
Jobs, mobility and employment – EU policies allows
member states to settle and work in any desired location. This reduces
employment opportunities for local British workforce. Leaving the EU will stop such
and increase employment opportunities for its citizens. However, British
citizens working in EU countries will also be affected (Riley-Smith, 2016) .
·
Brexit and business – Leaving the EU means internationalized British
corporations will have to deal with EU laws as non-EU states. It will have
negative impact as all benefits associated with being EU member state will be
withdrawn (Riley-Smith, 2016) .
·
Healthcare and Brexit – All health benefits as EU member state will be
cancelled and Britain will have to take care of its own health system. However,
EU member states that take advantage of British advanced health system will
have to pay for if Britain leaves, which will improve the country’s GDP (Riley-Smith, 2016) .
·
The cost of belonging to the EU – As EU member state,
Brittan needs to incur a number of policy-based costs. By leaving the EU, the
country can pump these funds into its GDP and use it to serve its citizens (Riley-Smith, 2016) .
·
The consequences of leaving the EU – If Britain leave the
EU, it will have to forfeit all associated benefits as a member state, which
will push the country to be independent and handle all of its national issues
without the help the EU (Riley-Smith, 2016) .
·
Collateral consequences - the future of the UK and Europe – All
collateral agreements with the EU will be cancelled, and British citizens will
have to follow existing laws across Europe (especially those waved out by being
a member state of the EU) (Riley-Smith, 2016) .
References
BBC News. (1997, 11 21). Pros and cons.
Retrieved from BBC News: Special report: http://news.bbc.co.uk/2/hi/special_report/single_currency/25081.stm
Butt, A. A. (2015, 5 14). The Role of Information
Technology in Business Success. Retrieved from LinkedIn:
https://www.linkedin.com/pulse/role-information-technology-business-success-abid-afzal-butt
Dudovskiy, J. (2013, 12 11). Impact of Global
Forces on UK Business Organisations. Retrieved from Research Methodology
:
http://research-methodology.net/impact-of-global-forces-on-uk-business-organisations/
European Commission. (n.d.). The policies.
Retrieved from European Commission: http://ec.europa.eu/policies/index_en.htm
European Union. (n.d.). Member countries of the
EU (year of entry). Retrieved from European Union:
https://europa.eu/european-union/about-eu/countries_en
History Learning Site. (n.d.). What are the
arguments for and against joining the Euro. Retrieved from History
Learning Site:
http://www.historylearningsite.co.uk/british-politics/what-are-the-arguments-for-and-against-joining-the-euro/
Politics.co.uk. (n.d.). European single market.
Retrieved from Politics.co.uk:
http://www.politics.co.uk/reference/european-single-market
Quinonez, N. (2014, 5 13). The Importance of
Information Technology and Its Disadvantage. Retrieved from Udemy Blog:
https://blog.udemy.com/importance-of-information-technology/
Riley-Smith, B. (2016, 6 20). Leave or Remain in
the EU? The arguments for and against Brexit. Retrieved from The
Telegraph News:
http://www.telegraph.co.uk/news/2016/06/16/leave-or-remain-in-the-eu-the-arguments-for-and-against-brexit/