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AEREN FOUNDATION’S Maharashtra Govt. Reg. No.: F-11724
| AN ISO 9001 : 2008 CERTIFIED INTERNATIONAL B-SCHOOL |
SUBJECT : INTERNATIONAL BUSINESS
PART A
Q.1 What is meant by Technology? What is its influence on business?
Answer: – Technology is the collection of tools, including machinery, modifications, arrangements and procedures used by humans. Engineering is the discipline that seeks to study and design new technologies. Technologies significantly affect human as well as other animal species’ ability to control and adapt to their natural environments. The term can either be applied generally or to specific areas: examples include construction technology, medical technology and information technology.
The human species’ use of technology began with the conversion of natural resources into simple tools. The prehistoric discovery of how to control fire increased the available sources of food and the invention of the wheel helped humans in travelling in
Q.2 What are the functions of WTO?
Answer: – The World Trade Organization (WTO) is an organization that intends to supervise and liberalize international trade. The organization officially commenced on 1 January 1995 under the Marrakech Agreement, replacing the General Agreement on Tariffs and Trade (GATT), which commenced in 1948.The organization deals with regulation of trade between participating countries by providing a framework for negotiating and formalizing trade agreements and a dispute resolution process aimed at enforcing participant’s adherence to WTO agreements, which are signed by representatives of member governments[6]:fol.9–10 and ratified by their parliaments.Most of the issues that the WTO focuses on derive from previous
Q.3 What is international business environment?
Answer:-
- The international business environment can be defined as the environment in different sovereign countries, with factors exogenous to the home environment of the organization, influencing decision-making on resource use and capabilities.
- The political environment in a country influences the legislation and government rules and regulations under which a foreign firm
Q.4 How cultural factors do influences international business?
Answer:- As a result of the globalization, the increasingly close interaction between firms which are from different cultures has been booming. Therefore, culture, which is manifest in behavioral norms, hidden assumptions, and human nature, each occurring at a different level of depth, has profound influences on international business. (Kilmann, Sfixton, Serpa 1986) Under this circumstance, in order to negotiate and deal with foreign partners more efficiently, and to enter new markets successfully as well, we should explore the exotic cultures and in what manners those magical cultures will affect the way we trade
Generally speaking, culture is consisted of
Q.5 State the importance of business ethics.
Answer: – Working as an ethical business has many benefits, not least of which is the ability to attract and keep investors, employees and customers. Knowing that the company they deal with has stated their morals and made a promise to work in an ethical and responsible manner allows investors peace of mind that their money is being used in a way that aligns with their own moral standing. When working for a company with strong Business Ethics, employees are comfortable in the knowledge that they are not by their own action or inaction allowing unethical practices to continue. Customers are at ease buying products or services from a company
PART B
2) Discuss in detail the environmental factors that affect a business.
Answer: – Meaning: The location of an industrial enterprise is an important problem which its promoters have to deal with. It is the responsibility of promoters to search out that location at which the enterprise will have easy access to raw materials, labour, power, markets and certain services like banking, transportation, communication, insurance and warehousing. As far as possible, the location must be optimum so that the costs of production and distribution are the lowest. If the location of a plant is not suitable, it may cause many types of problems. For instance, transportation cost may be higher and right type of labour may not be available. It may also restrict the growth of the firm. The problem of location is faced not only by new
3) What is privatization? What are its merits and limitations?
Answer: – Privatization is the process of transferring ownership of a business, enterprise, agency, public service or property from the public sector (government) to the private sector or to private non-profit organizations. The term is also used in a quite different sense, to mean government out-sourcing of services to private firms.
Government takes this step whenever any government enterprise does loss continuously or if the enterprise decreases profit alarmingly or if the
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