Course: International Business

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NMIMS Global Access

School for Continuing Education (NGA-SCE)

Course: International Business

Internal Assignment Applicable for December 2016 Examination

Assignment Marks: 30

Instructions:

·       All Questions carry equal marks.

·       All Questions are compulsory

·       All answers to be explained in not more than 1000 words for question 1 and 2 and for question 3 in not more than 500 words for each subsection. Use relevant examples, illustrations as far as possible.

·       All answers to be written individually. Discussion and group work is not advisable.

·       Students are free to refer to any books/reference material/website/internet for attempting their assignments, but are not allowed to copy the matter as it is from the source of reference.

·       Students should write the assignment in their own words. Copying of assignments from other students is not allowed.

Question. 1. ”Under Globalization and WTO the main beneficiary has been the Developed Country and not Developing Countries such as India”. Critically analyze the given statement and give your views. (10 marks)

Answer: It is fact that under globalisation and WTO, the main aspect that can be called beneficiary has been the Developed Country rather than Developing Country in India. This is actually the major fact of the Indian Economy because there have been such extra ordinary differences between Wealth/GDP shares in these countries.  The index Wealth/GDP shares necessarily need to depend on the aspect that how exactly you have measured the wealth present in the country. It is quite possible that we get accurate GDP insights of all countries but the statics of WTO are usually low in reliability and quality.

There may be numerous aspects which clear up these results. In my viewpoint, time variable is most important. As you concentrate on, "most of the real beneficiaries have built up their nation and social capital over many years." It will be too short to assess the advantages and errors of the WTO system.

Major countries that have been recorded in "deficit" countries, for example, Mexico, South Africa, Turkey, Indonesia, India and China are some of the countries which are, as of now, speeding their methodology of industrialization and extending their GDP rapidly. They may enhance Wealth/GDP extent following 20 years of time.

Question. 2. ”Various Export Promotion Agencies has been established by Government of India? However they have been unsuccessful in helping India in International Business” Do you agree/disagree with the given statement. Support your opinion with 2 or 3 examples. (10 Marks)

Answer: Government of India has done the establishment of Various Export Promotion Agencies. But, it is also the fact that these kinds of agencies haven’t actually been successful in the aspect of helping international business in India. The project is considered unsuccessful but not entirely. The success possibility of this project lies in its major aspects.

The key objective of an Export Promotion Council is very straightforward – to advance the fares from the country. Each Council is responsible for the progression of particular venture, products, and service’s grouping. One of the standard parts of an EPC is to project India's image overseas as a strong supplier of first class products and enterprises. EPCs are requested to screen and empower the acknowledgment of general determinations and measures by exporters, and to keep them one next to the other of the patterns, trends and opportunities in worldwide markets for goods and services.

The present approach as to telecom equipment energizes imports, and in that, really essential inspirations for fares are missing to larger amount. In the telecom part for example, real service providers import most of their versatile system networking equipment with highly confined procurement from local suppliers and manufacturers. If the present pattern of the system continues, then, by 2020, India's outpouring of outside exchange the ICT bit will be higher than that of petroleum zone, however government's vision has been to adjust the exports with imports in the electronic segment.

While EPCs are looking for ways to do the expansion of their membership numbers, becoming an efficient exporter member is possibly not as simple as it appears to be. AEPC, for example, needs that the total exports of the firm, which is applying for membership, should be more than Rs.1 crore in one of the previous three financial years.

Question. 3. “In International Business, it is not possible to define one single Market Entry Strategy for all developing countries because of the following reasons”:

(a) Cultural Differences (5 marks)

Answer: International business is dealt with great care and efficiently. There is a requirement of establishing and then following proper regulation for everything that is a part of the work procedure. There are certain rules that companies must follow in order to get proper efficiency in work. And that is where marketing strategy comes in.

If we see it from the business point of view then we will find that either progressing export activity treatment or development of new export product was fundamentally more troublesome than it should be. From the average stats of 38 products, three issues of cultural differences seem to be most problematic for Market Entry Strategy development.

·       Poor knowledge of developing markets. Lack of potentially productive market data.

·       Issues in Foreign market entry. Distribution and development of overseas product.

·       Complexity in Export transaction, including "red tape" and entire documentation.

Dimension of Cultural Differences:

·       PDI rating - Grounded reaction of power in a given cultural.

·       UAI - How much risk-taking is ordinary (a higher rating means a lower risk propensity).

·       IDV (independence) rating - How much people are being engaged as opposed to the extensive group.

·       LTO - The propensity to anticipate longer-term motivation items as opposed to pursuing short-term objectives

·       MAS - The scale between aggressiveness (high rating), competitiveness, realism and materialism compared to focusing on quality of life and relationships.

·       IVR - The frugal (or spendthrift) propensities for the normal individual in a culture (purchasing beyond necessity)

(b) Economic Differences. (5 Marks)

Answer: There are many economic differences that can be that can be the reason of incapability of defining one single Market Entry Strategy efficiently.

Government/Politics/Legal Systems: Every country has separate government which means that they have separate rules. Their policies are separate and they deal with separate legal systems as well.

International Law: The understanding of international law is always the basic requirement of business. You need to understand the international regulations and laws for everything that might come across in the business.

Technology: Technology can make it possible for you to get advantage of best profits and stability in your business. The business sectors can be shifted substantially with the level of technology therefore the product needs to be best in the market.

Logistics: Same as technology, business system in most of the remote markets will focus on improvement levels of the product so this will clearly effect positively and negatively on the capacity of marketing your product.

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