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International Business and Trade
International business and trade refers to the exchange of goods and services across international borders to maximize profit. Ideally, a country will export a good if its domestic price is lower than the international price.
1,891 Questions
Performance dimensions on which customers expect a minimum level of performance. Superior performance on an order qualifier will not, by itself, give a company a competitive advantage.
What is the difference between national culture and corporate culture?
corporate culture : The operating environment of a business, including its values, norms, and the behavioral patterns of its employees.
corporate culture includes the norms and behaviour which determine how people collaborate
How many corporations are in the world?
It is estimated that there about 45,000 listed corporations on stock exchanges in the world. There are actually millions of private corporations, perhaps as many as 100 million.
Exchange rates are a very important part of what is referred to as "comprehensive income." Firms are required to recognize exchange rate gains and losses in their financial statements both under Generally Accepted Accounting Principles and International Financial Reporting Standards. In firms that do business in the multi-national arena, these gains and losses can have a significant on cash flow; perhaps more importantly, these gains and losses suggest how well a firm manages its foreign contracts, and how well it understands the economies in which it operates. As a practical matter, exchange rates impact the Cost of Goods Sold of a firm. Assume for the sake of argument that a firm enters into a long term contract to buy raw materials from a foreign supplier at a fixed price; now assume that the value of the dollar erodes relative to the foreign currency by 10%. The net result is an erosion of the economic value of the contract of 10%.
What are the manufactured goods exported from the Philippines?
Top 10 Philippine Export Products
The Philippine export products have experienced a major drop this year, but that does not mean that it is far from recovering or flourishing anew. Here are the top ten Philippine export products in the country.
Coconut Oil
Although challenged by biofuel's high local demands and experienced a significant drop, coconut oil remains to be at the top in the list of export products in the Philippines. They already have a rich database of individuals who continue to advance to trend of export of coconut products.
Gold
Even before Yamashita treasure days, the Philippine islands' have been known for having substantial deposits of gold and other minerals. Northern Luzon, Masbate, Mindanao and the Negros Islands are some of the more prominent sources.
Dried Fish and Shellfish
Dried fish and other fish products are also another source of Philippine export products. The archipelago boasts of numerous bodies of water which make it a biodiversity hotspot filled with fishing areas.
Metal Components
Textile machineries, grinding machines, steel structures, cylinders and many others comprise the metal components being exported from the Philippines. The Philippines is quite known for specialization on these metal components that other countries do not have the manpower to do. The closure of Japanese magwheel firms also helped shift the attention of acquisition to Asian countries such as the Philippines.
Household Items, Woodcrafts and Furniture
The globe continues to rely on the Philippines for woodcrafts and furniture. The proliferation of products made from Acacia wood and narra are all part of the Philippine heritage and make for a unique part of one's home or office.
Fashion Accessories
Topping the list of fashion accessories is the Rags2Riches bags produced by the women of Payatas slum area in Quezon City. But this is not to be snubbed as the bags were designed by no less than Rajo Laurel. Fashion accessories are quite in trend and many people looking for the fresh and unique in fashion tend to look for export products from many countries, including the Philippines.
Petroleum Products
Despite rumored lack of product inventory, topping the list of Philippine exports are still the petroleum products.
Electric Apparatus
High or low voltage electric apparatus are also exported by the Philippines to other countries. Over 50% of the export industry is anchored on the electric apparatus and semiconductors industry arm.
Semiconductors
Design in wafer, publication and testing continues to be lucrative export industries for Filipinos. The semiconductors never run out of use in this highly technological world. Though there may be some issues in environmental standards, these are optimistically being worked out to strike the balance between profit and environment friendliness.
Computer Accessories
The influx of stores online and offline has helped enhance the numbers of the Philippine export of computer accessories. Its reputation as a fast growing shipment since its boom in 2008 has helped it become a very reliable export source for the Philippines.
What is the different between surrendered bill of lading and waybill?
whar the different between surendred bill of lading and ưay bill
Domestic marketing
A marketing restricted to the political boundaries of a country, is called "Domestic Marketing". A company marketing only within its national boundaries only has to consider domestic competition. Even if that competition includes companies from foreign markets, it still only has to focus on the competition that exists in its home market. Products and services are developed for customers in the home market without thought of how the product or service could be used in other markets. All marketing decisions are made at headquarters.
The biggest obstacle these marketers face is being blindsided by emerging global marketers. Because domestic marketers do not generally focus on the changes in the global marketplace, they may not be aware of a potential competitor who is a market leader on three continents until they simultaneously open 20 stores in the Northeastern U.S. These marketers can be considered ethnocentric as they are most concerned with how they are perceived in their home country. exporting goods to other countries.
International marketingIf the exporting departments are becoming successful but the costs of doing business from headquarters plus time differences, language barriers, and cultural ignorance are hindering the company's competitiveness in the foreign market, then offices could be built in the foreign countries. Sometimes companies buy firms in the foreign countries to take advantage of relationships, storefronts, factories, and personnel already in place. These offices still report to headquarters in the home market but most of the marketing mix decisions are made in the individual countries since that staff is the most knowledgeable about the target markets. Local product development is based on the needs of local customers. These marketers are considered polycentric because they acknowledge that each market/country has different needs. Multinational marketingAt the multi-national stage, the company is marketing its products and services in many countries around the world and wants to benefit from economies of scale. Consolidation of research, development, production, and marketing on a regional level is the next step. An example of a region is Western Europe with the US. But, at the multi-national stage, consolidation, and thus product planning, does not take place across regions; a regiocentric approach. It should be noted that most companies that self describe their organization as multinational really are not entirely multinational. In fact, the definition of the multinational corporation itself is somewhat suspect. Simply calling a company a multinational corporation is not enough. A company must make adjustments to the ways it perceives its role in the international market place so that it might reap the rewards the multinational environment. Essentially there are three responses or behaviors that the multinational corporation can use in the international market place. These three orientations that a multinational corporation have been described as ethnocentric, polycentric, and geocentric. In ethnocentric company the culture of the home country pervades the organization. In the polycentric organization the host country begins to play more of a role but the company still treats each individual country unit as a some what disparate group with only a very small information flow back to headquarters. In the most mature stage of multinational development, geocentric, the company has truly started to act globally. The company can now begin to reap the benefits of the multinational economy. The somewhat parasitic nature of the previous types of multinational system are now replaced with the give and take of international relationships that involve the all important two way communications flow.Why does our government let Corporate America import from a communist country like China?
Free market economy is the main driven force. In addition, American consumers demand for low cost merchandises that are not manufactured by high-paying American workers. Trade is a two-way street. China imports airplanes, corn, soybeans, machinery, high tech products which creates more employment opportunities in the U.S.
Duties and responsibilities of marketing staff?
One of the primary duties and responsibilities of the marketing staff is to ensure the client's products are marketed in the most efficient manner possible. Increase in sales is the ultimate goal.
How do back to back operations work?
Back-to-back operations occur when one operation is started right after another is completed.
What is meant by international company?
An international company is a company that operates in another nation than their home nation. International companies can be in one or more countries.
Does increased international business mean increased risk?
Yes, increased international business means increased risk. This is because it means that the given business is being done on a very large scale.
What are some differences between domestic and International marketing plans?
There are many differences between domestic and International marketing plans. The main difference is the boundaries whereby domestic marketing targets people within particular boundaries but international marketing plans target the whole world.
Advantages include: New Customers, Economies of Scale and New Personnel. An expansion is one of two basic business cycle phases. The other is contraction.
The study of international business is required for every business student because nearly every business will be international in the coming years. By understanding international business you can better understand your contribution to the organization.
Examples of cooperative business?
A cooperative business is one in which many people have a part in the business. These are often done in animal and produce sharing, where a group of people all pay a small amount and also help with the care of the crops or animals. In return, they receive product.
The price of gold changes often because it is listed on the stock market. The price of gold has been increasing over the last few years. Currently, the price of 14 karat gold is fifty dollars and eighty cents.
What is internal trading and exeternal trading?
Trade which takes place inside the boundaries of a country is known as internal trade. If trade crosses the four boundaries of a country and trade takes place with other countries of the world, it is known as external trade.
Both in internal and external trade, selling and buying takes place but there are some differences between internal trade and external trade.Source:
http://www.preservearticles.com/201106228392/difference-between-internal-trade-and-external-trade.html
http://goo.gl/hSEsy9
Means of engaging in international business?
joint ventureuring
merger
exporting and importing
contract manufact
franchise
foreign direct investment
How can one ensure that value is delivered?
The Government has placed a duty of best value on local authorities to deliver services to clear standards - of cost and quality - by the most economic, efficient and effective means available. Best value is a challenging new performance framework that requires authorities to publish annual best value performance plans and review all of their services every five years.
Authorities must show that they have applied the four Cs of best value to every review:
- challenging why and how a service is being provided;
- comparing their performance with others' (including organisations in the private and voluntary sectors);
- embracing fair competition as a means of securing efficient and effective services; and
- consulting with local taxpayers, customers and the wider business community.
Authorities must demonstrate to local people that they are achieving continuous improvement in all of their services. The Government has decided that each council should be scrutinised by an independent Inspectorate, so that the public will know whether best value is being achieved. The purpose of the inspection and of this report is to:
- enable the public to see whether best value is being delivered;
- enable the Council to see how well it is doing;
- enable the Government to see how well its policies are working on the ground;
- identify failing services where remedial action may be necessary; and
identify and disseminate best practice.
