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Essay / Research Paper Abstract
This 3 page paper answers four questions asked by the student when considering the way Toyota has run its operations in Europe as a result of the UK’s failure to join the single currency; the Euro. The bibliography cites 2 sources.
Page Count:
3 pages (~225 words per page)
File: TS14_TEtoyoeu.rtf
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Unformatted sample text from the term paper:
having to take different measures to meet with the convergence criteria. The development of the manufacturing plant in the UK was taken despite the decision of the UK not to
join the Euro immediately. The advantages of the UK and the new plant in Derbyshire were financial sound and the later decision to move all transactions into euros, even those
with UK manufacturers were seen as moves that would minimise the risk. There were also risks with the launch of the new currently, Toyota, being outside, but very close to
the Eurozone may also have avoided some risk, epically when the currency was less stable. However, they also lost out on some export potential when the euro was week, making
exports easier. The current situation is one where Toyota have been placing pressure on UK businesses to join the Euro (BBC News, 2000), this would make the currency transaction
cheaper and also with sterling string and the euro weaker this would also help with the sale of the vehicles. However, if the company wanted to increase sales and
reduce some of the risks and counteract the disadvantages that is faces being in the UK there was little choice other than to look for a location in Europe that
was within the Eurozone so that the exchange rate was not a barriers to trade in terms of both the transaction costs and the level of the currency making exports
more difficult for either manufacture or for components. Question 2 If the UK join the single currently then this would be unlikely to resolve all of Toyotas problems. (The
student actually asks what difference it would make if the UK joined the EU, but as it is already member it is assumed they mean the single currency). The
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