0
Add your answer:
Earn +20 pts
What are almost all economies today?
All economices today are actually
What does the law of suppy and demand show?
the price of houses increases, and the supply increase
Define the concept of international business and also explain its scope and nature?
INTERNATIONAL BUSINESS MANAGEMENTThe beverages you drink might be produced in India, but withthe collaboration of a USA company. The tea you drink isprepared from the tea powder produced in Sri Lanka. Thespares and harddisk of the computer you operate might havebeen produced in the United States of America.The perfume you apply might have been produced in France.The television you watch might have been produced with theJapanese technology. The shoe you wear might have beenproduced in Taiwan, but remarketed by an Italian company. AirFrance and so on so forth might have provided your airtravelservices to you.Most of you have the experience of browsing Internet andvisiting different web sites, knowing the products and servicesoffered by various companies across the globe. Some of youmight have the experience of 'even ordering and buying theproducts through Internet. This process gives you the opportunityof transacting in the international business arena withoutvisiting or knowing the various countries and companies acrossthe globe.You get all these even without visiting or knowing the countryof the company where they are produced. All these activitieshave become a reality due to the operations and activities ofinternational business.Thus, international business is the process of focusing on theresources of the globe and objectives of the organizations onglobal business opportunities and threats.Evolution of International BusinessThe business across the borders of the countries had beencarried on since times immemorial. But, the business had beenlimited to the international trade until the recent past. The postWorld War If period witnessed an unexpected expansion ofnational companies into international or multinational companies.The post 1990s period has given greater fillip tointernational business.In fact, the term international business was not in existencebefore two decades. The term international business hasemerged from the term international marketing, which in turn,emerged from the term 'export marketing'.International Trade to International Marketing: Originally, theproducers used to export their products to the nearby countriesand gradually extended the exports to faroff countries. Gradually,the companies extended the operations beyond trade. Forexample, India used to export raw cotton, raw jute and iron oreduring the early 1900s. The massive industrialization in thecountry enabled us to export jute products, cotton garmentsand steel during 1960s.India, during 1980s could create markets for its products, inaddition to mere exporting. The export marketing effortsinclude creation of demand for Indian products like textiles,electronics, leather products, tea, coffee etc., arranging forappropriate distribution channels, attractive package, productdevelopment, pricing etc. This process is true not only withIndia, but also with almost all developed and developingeconomies.International Marketing to International Business: Themultinational companies which were producing the products intheir home countries and marketing them in various foreigncountries before 1980s, started locating their plants and othermanufacturing facilities in foreign/host countries. Later, theystarted producing in one foreign country and marketing in otherforeign countries. For example, Uni Lever established itssubsidiary company in India, i.e., Hindustan Lever Limited(HLL). HLL produces its products in India and markets themin Bangladesh, Sri Lanka, Nepal etc. Thus, the scope of theinternational trade is expanded into international marketing andinternational marketing is expanded into international business.Nature of International BusinessThe 1990s and the new millennium clearly indicate rapidinternationalization and globalization. The entire globe ispassing at a dramatic pace through the transition period. Today,the international trader is in a position to analyze and interpretthe global social, technical, economic, political and naturalenvironmental factors more clearly.Conducting and managing international business operations isa crucial venture due to variations in political, social, cultural andeconomic factors, from one country to another country. Forexample, most of the African consumers prefer less costlyproducts due to their poor economic conditions. Whereas theGerman consumers prefer high quality and high priced productsdue to their higher ability to buy. Therefore, the internationalbusinessman should produce and export less costly products tomost of the African countries and vice versa to most of theEuropean and North American countries. High priced and highquality Palmolive soaps are marketed in European countries andthe economy priced Palmolive soaps are exported and marketedin developing Countries like Ethiopia, Pakistan, Kenya, India,Cambodia etc.International business houses need accurate information tomake an appropriate decision. Europe was the most opportunisticmarket for leather goods and particularly for shoes. Batabased on the accurate data could make appropriate decision toenter various European countries.International business houses need not only accurate but timelyinformation. CocaCola could enter the European market basedon the timely information, whereas Pepsi entered later. Anotherexample is the timely entrance of Indian software companiesinto the US market compared to those of other countries.Indian software companies also made timely decision in the caseof' Europe.laws, business laws and policies and regulations formulated bythe Indian Government. For example, international businessshould enter into joint venture with the domestic company toenter Malaysia. Important among them include:Host Country's Monetary System: Countries regulate the pricelevel, flow of money, production levels etc. through theirmonetary systems. In addition, they regulate foreign exchangerates also through the monetary system. The tools of monetarysystem include bank rate, cash reserve ratio, statutory liquidityratio etc. Governments also regulate remittance of the profit ofinternational business houses to other countries. Internationalcompanies should obey these regulations. The Indian Governmentintroduced full convertibility on current account; in fact,many Governments introduced full convertibility on currentaccount as a part of economic liberalisation.National Security Policies of the Host Countries: Every countryformulates the policies for its national security. Multinationalcompanies should abide by these national security policies. Forexample, USA is a free economy as far as carrying out thebusiness compared to manyImpact of Culture of SwitzerlandHousewivesOn Marketing of DishwashersIn Switzerland, foreign dishwasher manufacturers expected thesame rapid sales as they had first obtained in other WestEuropean markets; but sales in Switzerland were so slow thatresearch had to be done to find out why (this research should,of course, have been done before not after market entry). Theresearch showed that the Swiss housewife had a different set ofvalues to, for example, her French and English counterparts; shewas very conscious of her role as strict and hardworking and herresponsibility for the health of her family. To the Swisshousewife dishwashers simply made life easy, and this conflictedwith her Calvinistic work ethic. As a result of th s research,dishwasher manufacturers had to change their advertisingpromoting, instead of ease and convenience, hygiene andhealth. They did this by emphasizing that because dishwashersused temperature higher than hand hot, the process was morehygienic than washing up by harid. Thereafter, they had noautomatic dishwashers in Swit7erland.Language: language is an important factor in internationalbusiness. Even though 'English language' is a major languagein business operations in the world, there are still a largenumber of 'nonEnglish' speaking countries. Therefore,international business houses should train their employees inthe local language of THC host country. Added to this, therewould be many languages in use in many, countries like ours.Therefore, the business houses should train their employees inthe local languages also.Nationalism and Business Policy : Nationalism is a dominatingfactor of the social life of the people of the host countries.In fact, nationalism also affects the business operations of themultinational corporations dramatically and drastically. The USpeople used the slogan 'Be American and Buy American Made',when the US automobile industry failed to meet the competitionof Japanese automobile companies operating in USA.Similar incidents are dso observed in developing countries.Therefore, international business houses should be cautious ofnationalism and its after effects
What are almost all economies today?
All economices today are actually
What is the meaning of dish?
A dish is a food you have prepare as casserole i learned this in home economices these are the dishes i have prepared
What does the law of suppy and demand show?
the price of houses increases, and the supply increase
Why is a person interested in knowing the demand for the shares that he has purchased?
the want to konw about what is the today market for that share and how much buyer and seller are their for this particular share if the buyer demand high then obviusly the share price high and the seller demand are high then also price down for that particular share if the price is decresing demand is incresing and price is incresing demand is decresing the basic tag line of economices
What is business psychology?
Psychology as its name implies, gives us understanding about the psyche of people, and as a business graduate, the person who is a business graduate and has the ability to understand the psyche of peoples, He/She can better understand the needs of peoples in every field, like production, hiring, or advertising.
Define the concept of international business and also explain its scope and nature?
INTERNATIONAL BUSINESS MANAGEMENTThe beverages you drink might be produced in India, but withthe collaboration of a USA company. The tea you drink isprepared from the tea powder produced in Sri Lanka. Thespares and harddisk of the computer you operate might havebeen produced in the United States of America.The perfume you apply might have been produced in France.The television you watch might have been produced with theJapanese technology. The shoe you wear might have beenproduced in Taiwan, but remarketed by an Italian company. AirFrance and so on so forth might have provided your airtravelservices to you.Most of you have the experience of browsing Internet andvisiting different web sites, knowing the products and servicesoffered by various companies across the globe. Some of youmight have the experience of 'even ordering and buying theproducts through Internet. This process gives you the opportunityof transacting in the international business arena withoutvisiting or knowing the various countries and companies acrossthe globe.You get all these even without visiting or knowing the countryof the company where they are produced. All these activitieshave become a reality due to the operations and activities ofinternational business.Thus, international business is the process of focusing on theresources of the globe and objectives of the organizations onglobal business opportunities and threats.Evolution of International BusinessThe business across the borders of the countries had beencarried on since times immemorial. But, the business had beenlimited to the international trade until the recent past. The postWorld War If period witnessed an unexpected expansion ofnational companies into international or multinational companies.The post 1990s period has given greater fillip tointernational business.In fact, the term international business was not in existencebefore two decades. The term international business hasemerged from the term international marketing, which in turn,emerged from the term 'export marketing'.International Trade to International Marketing: Originally, theproducers used to export their products to the nearby countriesand gradually extended the exports to faroff countries. Gradually,the companies extended the operations beyond trade. Forexample, India used to export raw cotton, raw jute and iron oreduring the early 1900s. The massive industrialization in thecountry enabled us to export jute products, cotton garmentsand steel during 1960s.India, during 1980s could create markets for its products, inaddition to mere exporting. The export marketing effortsinclude creation of demand for Indian products like textiles,electronics, leather products, tea, coffee etc., arranging forappropriate distribution channels, attractive package, productdevelopment, pricing etc. This process is true not only withIndia, but also with almost all developed and developingeconomies.International Marketing to International Business: Themultinational companies which were producing the products intheir home countries and marketing them in various foreigncountries before 1980s, started locating their plants and othermanufacturing facilities in foreign/host countries. Later, theystarted producing in one foreign country and marketing in otherforeign countries. For example, Uni Lever established itssubsidiary company in India, i.e., Hindustan Lever Limited(HLL). HLL produces its products in India and markets themin Bangladesh, Sri Lanka, Nepal etc. Thus, the scope of theinternational trade is expanded into international marketing andinternational marketing is expanded into international business.Nature of International BusinessThe 1990s and the new millennium clearly indicate rapidinternationalization and globalization. The entire globe ispassing at a dramatic pace through the transition period. Today,the international trader is in a position to analyze and interpretthe global social, technical, economic, political and naturalenvironmental factors more clearly.Conducting and managing international business operations isa crucial venture due to variations in political, social, cultural andeconomic factors, from one country to another country. Forexample, most of the African consumers prefer less costlyproducts due to their poor economic conditions. Whereas theGerman consumers prefer high quality and high priced productsdue to their higher ability to buy. Therefore, the internationalbusinessman should produce and export less costly products tomost of the African countries and vice versa to most of theEuropean and North American countries. High priced and highquality Palmolive soaps are marketed in European countries andthe economy priced Palmolive soaps are exported and marketedin developing Countries like Ethiopia, Pakistan, Kenya, India,Cambodia etc.International business houses need accurate information tomake an appropriate decision. Europe was the most opportunisticmarket for leather goods and particularly for shoes. Batabased on the accurate data could make appropriate decision toenter various European countries.International business houses need not only accurate but timelyinformation. CocaCola could enter the European market basedon the timely information, whereas Pepsi entered later. Anotherexample is the timely entrance of Indian software companiesinto the US market compared to those of other countries.Indian software companies also made timely decision in the caseof' Europe.laws, business laws and policies and regulations formulated bythe Indian Government. For example, international businessshould enter into joint venture with the domestic company toenter Malaysia. Important among them include:Host Country's Monetary System: Countries regulate the pricelevel, flow of money, production levels etc. through theirmonetary systems. In addition, they regulate foreign exchangerates also through the monetary system. The tools of monetarysystem include bank rate, cash reserve ratio, statutory liquidityratio etc. Governments also regulate remittance of the profit ofinternational business houses to other countries. Internationalcompanies should obey these regulations. The Indian Governmentintroduced full convertibility on current account; in fact,many Governments introduced full convertibility on currentaccount as a part of economic liberalisation.National Security Policies of the Host Countries: Every countryformulates the policies for its national security. Multinationalcompanies should abide by these national security policies. Forexample, USA is a free economy as far as carrying out thebusiness compared to manyImpact of Culture of SwitzerlandHousewivesOn Marketing of DishwashersIn Switzerland, foreign dishwasher manufacturers expected thesame rapid sales as they had first obtained in other WestEuropean markets; but sales in Switzerland were so slow thatresearch had to be done to find out why (this research should,of course, have been done before not after market entry). Theresearch showed that the Swiss housewife had a different set ofvalues to, for example, her French and English counterparts; shewas very conscious of her role as strict and hardworking and herresponsibility for the health of her family. To the Swisshousewife dishwashers simply made life easy, and this conflictedwith her Calvinistic work ethic. As a result of th s research,dishwasher manufacturers had to change their advertisingpromoting, instead of ease and convenience, hygiene andhealth. They did this by emphasizing that because dishwashersused temperature higher than hand hot, the process was morehygienic than washing up by harid. Thereafter, they had noautomatic dishwashers in Swit7erland.Language: language is an important factor in internationalbusiness. Even though 'English language' is a major languagein business operations in the world, there are still a largenumber of 'nonEnglish' speaking countries. Therefore,international business houses should train their employees inthe local language of THC host country. Added to this, therewould be many languages in use in many, countries like ours.Therefore, the business houses should train their employees inthe local languages also.Nationalism and Business Policy : Nationalism is a dominatingfactor of the social life of the people of the host countries.In fact, nationalism also affects the business operations of themultinational corporations dramatically and drastically. The USpeople used the slogan 'Be American and Buy American Made',when the US automobile industry failed to meet the competitionof Japanese automobile companies operating in USA.Similar incidents are dso observed in developing countries.Therefore, international business houses should be cautious ofnationalism and its after effects
