SUBJECT:- International Business

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INDIAN SCHOOL OF BUSINESS

MANAGEMENT & ADMINISTRATION

AN ISO 9001 : 2008 CERTIFIED INSTITUTION

SUBJECT:- International Business

MARKS :80

Course : BMS (Bachelors In Management Studies)                          

Answer the question in one line.

Q1. What is meant by Technology? What is its influence on business? (10 marks)

Answer:Technology is the collection of techniques, methods or processes used in the production of goods or services or in the accomplishment of objectives, such as scientific investigation. Technology can be the knowledge of techniques, processes, etc. or it can be embedded in machines, computers, devices and factories, which can be operated by individuals without detailed knowledge of the workings of such things.

The human species' use of technology began

Q2. What are the functions of WTO? (10 marks)

Answer: The WTO secretariat, based in Geneva, has around 600 staff and is headed by a Director-General. Its annual budget is roughly 160 million Swiss Francs. It does not have branch offices outside Geneva. Since decisions are taken by the members themselves, the secretariat does not have the decision making the role that other international bureaucracies are given.

The secretariat s main duties to supply technical support for the various councils and committees and the ministerial conferences, to provide technical assistance for developing countries, to analyze world trade and to explain WTO affairs to the public and media. The secretariat also provides some forms of legal assistance in the dispute settlement process and advises governments wishing to become members of the WTO.

Objectives:

Q3. What is international business environment? (10 marks)

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, that influences decision-making on resource use and capabilities. This includes the social, political, economic, regulatory, tax, cultural, legal, and technological environments .

The political environment in a country influences the legislation and government rules and regulations under which a foreign firm operates. Every country in the world follows its own system of law and a foreign company operating within it has to abide by these laws for as long as it continues to operate there.

Q4. How cultural factors do influences international business? (10 marks)

Answer:To begin with, language is one of the most significant factors that have impacts on international business, since language is the crucial medium for business partners to communicate with each other and understand their ideas. During the frequent global trade and commerce, the exchange of language is necessary, which has great effect on international trades. There are some taboo words and idioms in every language, which are likely to cause problems. For instance, some specific numbers are treated differently in different areas. The number “3” enjoys both praise and abuse alike. In Monaco, people like this number very much because they believe it will bring them prosperity. The Hong Kong people like this

Q5. State the importance of business ethics. (10 marks)

Answer:Ethics concern an individual's moral judgements about right and wrong. Decisions taken within an organisation may be made by individuals or groups, but whoever makes them will be influenced by the culture of the company. The decision to behave ethically is a moral one; employees must decide what they think is the right course of action. This may involve rejecting the route that would lead to the biggest short-term profit.

Ethical behaviour and corporate social responsibility can bring significant benefits to a business. For example, they may: 

Q6. How do differences in culture affect in international business? (10 marks)

Answer:In the business world, communication is imperative for the successful execution of daily operations. Understanding cultural differences and overcoming language barriers are some of the considerations people should have when dealing with business with people of various cultures. Often business deals are lost because the parties involved did not take the time to learn about their each others' cultures prior to interacting.

Customs: When doing business with an affiliate from another country, consider the cultural differences that may be presented. This includes basic customs, mannerisms and gestures. For example, If a salesperson approaches a

Q7. Write a detailed note on foreign direct investment (10 marks)

Answer: The International Monetary Fund defines FDI as when one individual or business owns 10% or more of a foreign company's capital. Every financial transaction afterwards is considered by the IMF as an additional direct investment. If an investor owns less than 10%, it is considered as nothing more than an addition to his/her stock portfolio.

With only a 10% ownership, the investor probably doesn't have the controlling interest in the foreign business. However, even with just 10%, the investor usually has significant influence on the company's management, operations and policies. For

Q8. Explain theory of global competitiveness alignment (10 marks)

Answer:It should be recognised that any strategy or management style is appropriate only in a particular set of circumstances, therefore the search for universally applicable strategies and management styles should be abandoned. Strategic fit, however, enables an organisation to operate in its particular competitive situation at peak effectiveness. This is achieved by “alignment”, which is optimised when the appropriate combination of four “logics” ‐production, administration, development and integration – is replicated

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