MB0053 – International Business Management

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ASSIGNMENT

 

 

 

Note: Answer all questions. Kindly note that answers for 10 marks questions should be approximately of 400 words. Each question is followed by evaluation scheme.

 

Q.1 Discuss Porter’s diamond model for international trade.

 

Ans : The diamond model is an economical model developed by Michael Porter in his book The Competitive Advantage of Nations, where he published his theory of why particular industries become competitive in particular locations. Afterwards, this model has been expanded by other scholars .

 

 

 

 

 

Q.2 Evaluate the importance of political stability for conducting international business. What is political risk?

 

Ans:  Political stability’s importance :

 

Political stability can be defined as the state of peace that is experienced in a country, thanks to the activities of the government. The government in this case makes decisions keeping in mind the best interests of the people. Even in countries perceived as politically stable, political change can have a significant impact on business. This may simply be because government changes the legal framework, which as we have seen in the previous

 

 

 

Q.3 Discuss the role of WTO in international trade. Explain any 2 major agreements in WTO.

 

Ans : Role of WTO :

 

One of the most important functions of WTO is to serve as a forum for trade negotiations since international negotiations are very technical, detailed and politically sensitive. Furthermore their system helps to keep the peace which is achieved by helping trade to flow smoothly plus an international confidence and cooperation are created and reinforced.

The idea of WTO appeared slowly from various needs and negotiations. Despite there are still many protectionists who argue the necessity of markets to be protected by various restrictions, the Great Depression of 1930s showed the reverse

 

 

 

Q. 4 Write short note on:

 

a) Strategic planning

 

Ans : Strategic planning is an organization’s process of defining its strategy, or direction, and making decisions on allocating its resources to pursue this strategy. In order to determine the future direction of the organization, it is necessary to understand its current position and the possible avenues through which it can pursue particular courses of action. Generally, strategic planning deals with at least one of three key questions:

1. “What do we do?”

 

 

 

b) Ethical convergence :

 

Ans :  Ethical traditions are very important for international business. One of the most important lessons business leaders should learn from the recent financial crisis is that the best time to fix a small problem is before it explodes and becomes a crisis. The philosophy of “fix it when it breaks” does not work when the breakage

 

 

Q. 5 Explain in various modes of payment in international trade. Discuss the role of letter of credit in the same.

 

Ans : Modes of payment :

 

1. Cash-in-Advance :

 

With cash-in-advance payment terms, the exporter can avoid credit risk because payment is received before the ownership of the goods is transferred. Wire transfers and credit cards are the most commonly used cash-in-advance options

 

 

 

 

Q.6 Explain the various modes of entry in international business which could be used a part of strategy to enter foreign market.

 

Ans : The modes of entry adopted by foreign firms :

 

1.Exporting:

 

It means the sale abroad of an item produced ,stored or processed in the supplying firm’s home country. It is a convenient method to increase the sales. Passive exporting occurs when a firm receives canvassed them. Active exporting conversely results from a strategic decision to establish proper systems for organizing the export functions and for  procuring foreign sales.

 

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