1.What is
International Trade?
International
Trade is the process of focusing the resources & objectives of an
organization on global market opportunities & threats.
2.Explain
‘CARTEL’?
CARTEL is
an agreement to restrict competition between production of the same commodity
in one country or other
3. What
is ‘GATS’?
GATS –
General Agreements on Trade in service rules for multilateral, legally
enforceable rules
4. What
are the objectives of WTO?
To study
& supervise on a regular basis the operation of revised GATT agreements.
To
provide trade review mechanism.
To create
goods council, services council, & TRIPS council as subsidiary bodies
5. What
is comparative advantage?
Comparative
advantage is a situation in which a person or country is more
efficient
at producing a good in comparison with another person or country
6. Write
the functions of WTO?
To
administer & implement the multilateral & plurilateral trade
agreements, which together make up the WTO.
To acts
as a forum for multilateral trade negotiations. To resolve trade disputes.
To
examine national trade policies.
To
provide technical assistance & training for developing countries
7. Discuss
about export – import policy?
The
Government of India announced the export – Import policy on March 31, 1992. The
main purpose of the current export – import policy is to consolidate the gains
of the previous poicy & to further carry forward the process of
liberalization
8.
Discuss the Important features of URUGUAY round agreements?
URUGUAY
Round was launched at Punta Del Este in Septemver 1986. The wide range of
negotiations covered GATT rules & disciplines, safeguards, etc.
It covers
TRIPS, TRIM, Trade in service & Agriculture.
9. Write
short notes about TRIPS?
Trade
related aspects of Intellectual property Rights.
Intellectual
property is a term referring to a number of distinct types of creation of the
mind for which property rights are recognised. Under intellectual property law
owners are granted certain exclusive rights.
Common
types of intellectual property include copy rights, trademarks, patents,
industrial design rights & trade secrets, etc.
10.
.Write the benefits of Globalization ?
Contribution
to the developing economy. Increased productivity.
Change in
living standards. Increased competition.
Innovative
ideas to abroad as well as domestic opportunities. Employment opportunities3
What is Quotas explain?
Quotas
are a quantity control on imported goods, which can be used for export control.
Generally they are specific provisions limiting the amount of foreign products
imported in order to protect local firms & to conserve foreign currency
EMBARGO Explain?
An
EMBARGO refers to a complete banned on trade (Import &Export) in one or
more
product with a particular country. It is the most restrictive non – tariff
trade barrier available & its typically applied to political goals &
reliagenous feeling.
What is global competitiveness?
Competitiveness
denotes the relative standing of one competitor against others &
competitiveness
is like the game of musical chairs. There are finite numbers of places to sit
& some are more desirable than others
What is the source of competitive advantage?
The
“Value chain” approach proposed by michael porter is one of the most cited
&
widely utilized portar separates the internal components of a firm into five
primary activities & four support activities.
Explain Trade policy?
Trade
policy refers to all the procedures & processes, practices that have a
bearing
on the
trade movement of the country. At the international level, trade policy of a
country may be inward looking or outward looking.
What are the theories of International trade?
Theory of Mercantilism
Theory of
Absolute advantage
Theory of
comparative cost advantage Theory of factor Endowments
They of
product lifecycle.
Write the concept Mercantilism?
Theory
merged in middle of 16th century in England. Theory states that gold
& silver of wealth of nation.
Countries
consisted of kingdom giving importance to collecting gold & silver. Based on
this theory it is gain by one country & lost by country
What is absolute Advantage?
Trade can
happen between 2 countries, if one country is able to produce at absolute low
price & offer to the 2nd country & 2nd country
similarly produced another product at absolute low price & offer to 1st
country.
List out the assumption of comparative cost theory
made by Ricardo? Comparative cost theory was first systematically formulated by
Ricardo, This
theory is
based on the following assumptions.
Labor is
the only element of cost of production.
Labor is
perfectly mobile within the country but perfectly immobile between countries.
Labor is
homogenous.
International
trade is free from all barriers
What is the law of comparative advantage?
The law
of comparative advantage indicated that a country should specialize in
the
production of those goods in which it is more efficient & leave the
production of the other commodity to the other country. The two nations will
then have more of both goods by engaging in trade.
Write short notes about factor endowment theory?
Factor
endowments theory was developed by Heckscher & Bertilohlin. It means
the
assets, resources of the country like land, labor, and capital. Each nation has
its own factor endowments (or) assets.
The more
factor endowments the lower will be the cost of produce of the country
What are two important theorems of factor
endowment? Heckscher-ohlin Theory
Factor
price Equalization Theory
23. List
out the Investment Theories?
Theory of
capital Movements Market imperfections theory Internalization theory
Location
specific advantage theory Eclectic theory
Other
theories
What are Trade barriers?
To
achieve the objects of trade, every country imposes certain restrictions on its
international
trade ie. Imports & exports.
The main
purpose of imposing trade barriers is to protect domestic industries from
foreign competition.
Regional Trade blocks Refer?
Regional
Trade block designed to achieve various economic, social & political
purposes.
RTA is an
important international business environment.
RTA Trade
blows European union
NAFTA:
US, Mexico, Canada.
MERCOSUL
: Brazil , Argentina, Uruguay APSC: 21 Pacific RIM Countries.
26.
Define International strategic planning?
It is a
continuous process of determining an organization’s basic mission & long
term objectives. It also involves implementing a plan of action for pursuing
the mission & attaining these objectives
27. Write
the need for strategic planning?
This need
is justified as the amount of foreign Direct Investment that has occurred in
recent years. It is necessary to co-ordinate & integrates diverse
operations with a unified & agreed on focus
28. What
are the approaches require to formulating & implementing the strategy?
There are four main approaches to strategic planning.
They are:
Dealing on the economic implications
Facing the political consequences
Stressing the quality imperative
Implementing an administrative co-ordination
strategy
What is meant by strategic management
The
process of determining an organization’s basic mission & long – term
objectives, the implementing a plan of action for attaining these goals
30. What
is economic Imperative?
A
worldwide strategy based on cost leadership differentiation & segmentation.
Many of these companies typically sell products for which a large portion of
value is added in the upstream activities of the industry’s value chain
31. Write
about political Imperative?
Political
imperative is strategic formulation & implementation utilizing strategies
that are country responsive & designed to protect local market niches
32.
Meaning of Global strategy?
Global
strategy, referred as an integrated strategy based primarily on price
competition
What are the types of strategy? Global strategy
Transnational strategy International strategy Multi – domestic strategy
Why national responsiveness is need?
The
national responsiveness is need to understand the different consumer tastes in
segmented regional markets & respond to different national standards &
regulations imposed by autonomous governments & agencies
35. What
is KFS?
Key
factor for success a factor necessary for a firm to effectively compete in a
market niche
Ex: KFS
for an International airline is price. 11. Write the benefit of strategy
implementation?
Strategic
implementation provides goods & services in accord with a plan of action
12.
Define portfolio management?
Portfolio
Management may be defined as the process of construction, revision &
evaluation of a portfolio, to obtain maximum returns, commensurate with the
risk disposition of the investor
Write the process of portfolio Management?
Specification
of investment objectives & constraints Choice of asset mix
Formulation
of portfolio strategy Selection of securities
Portfolio
execution Portfolio revision Portfolio evaluation
Write the different forms of International
business?
International
business management must consider three general areas in strategy
implementation,
First MNC
must decide where to locate operations.
Second,
MNC must carry out entry & ownership strategies.
Finally,
management must implement functional strategies in areas such as marketing,
production & finance
15.
Discuss about organizational issues?
Capture
is important organizational issues. Regulatory organization can either be
capture by policy – making entities or by dominant market players or by both.
Another one is advantage & disadvantage competition between regulatory
agencies
16.
Refers organizational structure?
Organizational
structure refers to the way that an organization arranges people & jobs so
that is work can be performed & its goals can be met organizational
structure its composite three important aspects namely differentiation
formalization & centralization
17.
Explain the term Multinational Corporation?
(MNC is a
corporation that controls production facilities in more than one country) Such
facilities having been acquired through the process of foreign direct
investment.
(MNC is
also called as International Corporation Transnational & Global Corporation
Multinational refers to direct investment in several countries & a
considerable share of the total business being in foreign countries)
18. Give
short notes about WCO?
WCO means
world class organizations are enterprises that are able to compete with
anybody, anywhere, anytime.
E.g:
SONY, GENERAL, ELECTRIC.
To become
a WCO, an organization must excel in a number of dimensions which create a new
level of competitive excellence
19. What
is meant by control in International business?
Control
involves evaluating results in relation to plans or objectives & deciding
what action to take
20. What
are the approaches to control?
The
following are the approaches of various MNC’s to control their processes.
British
controls German controls French controls U.S. Controls
Japanese
controls
Write the performance of global business?
A number
of performance measures are used for control purposes. Three of the most common
types are those related to
Financial
performance Quality performance Personnel performance
Give the meaning of evaluation?
Evaluation
is the analysis & comparison of actual progress vis – a-visprior plans.
Evaluation is oriented toward improving plans for future implementation to
ensure improved performance
What are the types of evaluation system/
Qualitative evaluation system Quantitative evaluation system Formative
evaluation system Summative evaluation system
Write short notes about evaluation system?
There are
good evaluation systems, benchmarking also the best practice benchmarking.
Budgetary system is a planning & controlling tool. Budget & Budgetary
control constitute budgetary system.
Evaluation
is need for overall management.
Evaluation
for efficiency
Evaluation
of accountability
Evaluation
of development & dissemination Evaluation for studying on track
List out the disadvantage of international business
The
negative drivers of globalization include culture which is a major hold back of
globalization.
Government
policy Input cost
Lack of
Infrastructure facilities
Obsolete
machinery 7 technology
What is conflict in International Business
‘International
Conflict’ referred to conflicts between different nations – states &
conflicts between people & organization in different nation – states. It
also applies to inter-group conflicts within the country when one group is
fighting for independence or increased social, political or economic power.
What are factors causing conflict?
The
Nature & analysis of political Risk Macro & Micro political Risk.
Macro risk
Micro risk with issues Devaluing of the currency
Refusing
to give import licenses
Write short notes on Negotiation?
Negotiation
is a method of bargaining with one or more parties to arrive at a solution that
is acceptable to all.
Negotiation
is adopted in joint ventures with local firms & in getting the operation
off the ground. After the firm is operating additional areas of negotiation
often include expansion of facilities
What is the Role of Negotiation process in
International Business? Negotiation process has the following steps.
Planning
Impersonal
Relationship Building
Exchanging
Task related information Agreement
6. What is Persuasion?
This is an essential step of
negotiations. It depends on
How well
the parties understand each other’s position.
The
ability of each to identify areas of similarity & differences.
The
ability to create new options.
The
Willingness to work towards a solution
What is the final stage of Negotiations?
Agreement
is the final phase of Negotiations. It is carried out piecemeal,
&
concessions & agreements are made on issues one at a time
What are the cultural differences affecting
Negotiation in International business?
It
involves consideration of areas such as communication patterns, time orientation,
& social behaviors
What are the Negotiation tactics in international
Business?
The
following tactics are used in International Negotiation.
Selection
of a location Time constraints.
Buyer –
seller relations Bargaining style
Promises,
threats & Non-verbal behaviors
How time constraints important in Negotiation?
Time
constraints play an important role in negotiation tactics when one party is
under a time constraint
What are the ethical issues in International
Business? Employment practices
Human
Rights
Environmental
pollution Corruption
Moral
obligations Ethical Dilemmas
What are the elements include in Ethical decision
making? Hiring & promotion
Organization
cultural & leadership Decision-making processes
Ethics
officers Moral courage
List out International agencies? International
agencies are
UNCTAD
EEC
Give the expansion of UNCTAD?
UNCTAD
refers to the United Nations Conference on Trade & Development. It is a
trade body of United Nations
What is the main objective of UNCTAD?
To reduce
the trade barriers & restrictions. To design the trade principles &
policies. Integrated program on commodities.
Reducing
debt burden.
Commodity
development facility.
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