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Xaviers Institute of Business Management Studies
SUBJECT: International Business
Total Marks: 80
Answer any FIVE of the following.
All questions carry equal marks.
- Explain the role of international trade in economic development.
Answer: Role of International Trade in Economic Development
International trade plays a crucial role in the economic development of nations. It allows countries to expand their markets, acquire goods and services that they do not produce themselves, and take advantage of their comparative advantages. The exchange of goods, services, technology, and capital between countries can lead to significant improvements in productivity, innovation, and economic growth. Below are key points explaining the role of international trade in economic development:
- Access to Larger Markets:
- Expanding Market Reach: One of the primary benefits of international trade is the ability for a country to sell its products and services in foreign markets. This increases demand for a nation’s exports, leading to higher production, more jobs, and greater economic output.
- Economies of Scale: By accessing larger global markets, businesses can produce in greater quantities, which leads to lower average costs due to economies of scale. This boosts efficiency and competitiveness
- Critically examine the Ricardian comparative cost advantage theory of international trade.
Answer: Ricardian Comparative Advantage Theory of International Trade
The Ricardian Theory of Comparative Advantage is one of the foundational theories in international trade, developed by the British economist David Ricardo in the early 19th century (1817) through his work “On the Principles of Political Economy and Taxation.” The theory argues that countries should specialize in producing and exporting goods for which they have a comparative advantage (i.e., a lower opportunity cost), while importing goods in which they have a comparative disadvantage. The theory emphasizes that even if one country is less efficient than another in producing all goods, both countries can still benefit from trade by specializing in what they do relatively best.
Key Assumptions of the Ricardian Theory:
- Write a strategic planning in MNCS.
Answer: Strategic Planning in Multinational Corporations (MNCs)
Strategic planning is a critical process for Multinational Corporations (MNCs) because they operate across diverse markets, face complex global challenges, and deal with varying economic, political, and cultural environments. A well-crafted strategic plan enables MNCs to align their global operations with long-term goals, allocate resources efficiently, and build sustainable competitive advantages. Below is a framework for strategic planning in MNCs, including key considerations and steps involved.
- Understanding the Context and Environment
Before developing a strategic plan, MNCs need to analyze both internal and external environments to understand the factors that influence their operations and opportunities for growth. This includes:
- External Environment Analysis:
- Political, Economic, Social, and Technological (PEST) Analysis: Understanding macroeconomic factors, political
- Discuss the pros and cons of a multinational culture on organization performance.
Answer: Pros and Cons of a Multinational Culture on Organizational Performance
In today’s globalized business environment, many organizations operate in multiple countries and employ a diverse workforce. As a result, multinational culture—a blend of different cultural values, beliefs, and practices within an organization—becomes an integral aspect of how multinational companies (MNCs) function and perform. A multinational culture can significantly influence an organization’s effectiveness, productivity, and employee satisfaction, but it also brings challenges.
Below, we discuss both the pros and cons of a multinational culture on organizational performance.
Pros of a Multinational Culture on Organizational Performance
- Increased Innovation and Creativity
- Evaluate the performance of Multinational Corporation in international business.
Answer: Evaluating the Performance of Multinational Corporations (MNCs) in International Business
Multinational corporations (MNCs) play a significant role in global economic growth by driving international trade, investment, and innovation. Their performance in international business is a result of various factors including their strategies, market adaptability, financial health, competitive positioning, and their ability to navigate cultural, economic, and political differences across multiple countries. Evaluating the performance of an MNC in international business requires a holistic approach that takes into account both quantitative metrics and qualitative aspects. Below is a comprehensive evaluation framework.
- ‘‘Negation is an art’’. How do you practice it in self regulated economy?
Answer:
- Discuss the present position of Human Resources Management in MNCs.
Answer:
- Highlight the prominence of negotiation in international business.
Answer:
- What do you mean by regional economic cooperation? How far are these regional economic groupings compatible with the free trade policy?
Answer:
- Describe the role of international organizations in promoting international trade.
Answer:
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