International MarketingAssignment Report
and businesses are in a state of moderate to advanced panic, believing that their businesses, plans, and way of life are finished forever.
Effects of recent financial crisis
The current financial crisis results to a lot of problems and/or changes globally. There isa lack of free finances. That means that individuals and/or businesses can not borrowmoney in order to retain in their business, or even to expand in new markets, globally or internationally. All businesses in the financial sector introduced very strict regulationsconcerning loans strategies and if one is qualified to obtain such a loan the interest is toohigh.
Unemployment in the most developed and developing countries is in the highest levelever. Because of the decrease in all sections in the real estate business and as a consequencein other industries as well, a lot of people lost their jobs, others fear that they will also havesuch a fortune. When the unemployment increases, this means that consumers loose their purchasing power or they are buying only the minimum/necessities to survive.
The social instability is also a consequence of the financial crisis. The majority of businesses and individuals are feeling that are standing in a vacuum. The most employeesare facing the feeling of job insecurity, especially in the UK and US. So, they are workingharder, may be more hours per day in order to keep their jobs.
The impacts of the financial crisis Page 2