The document discusses the World Trade Organization (WTO) and international business. It provides background on the WTO, noting that it is the most powerful international organization dealing with trade between nations. It aims to help producers, exporters, and importers conduct business. There are arguments for and criticisms against the WTO. The document also discusses what constitutes international business and different types of international firms and strategies companies use for expanding internationally.
A brief presentation of challenges due to globalization with special emphasis to India, prepared for class room presentation at Institute of Management in Kerala
July 1991, India has taken a series of measures to structure the economy and improve the BOP position. The new economic policy introduced changes in several areas.
The policy have salient feature which are :-
Liberalization (internal and external)
Extending Privatization.
Globalization of the economy.
Globalization and Its Impact on Poverty in Pakistan(A Background Paper for t...idspak
This study looks at Pakistan’s experience in the light of the international experience and suggests key strategic steps that are necessary for Pakistan to maximize its growth and poverty reduction benefits from globalization.
A brief presentation of challenges due to globalization with special emphasis to India, prepared for class room presentation at Institute of Management in Kerala
July 1991, India has taken a series of measures to structure the economy and improve the BOP position. The new economic policy introduced changes in several areas.
The policy have salient feature which are :-
Liberalization (internal and external)
Extending Privatization.
Globalization of the economy.
Globalization and Its Impact on Poverty in Pakistan(A Background Paper for t...idspak
This study looks at Pakistan’s experience in the light of the international experience and suggests key strategic steps that are necessary for Pakistan to maximize its growth and poverty reduction benefits from globalization.
Foreign capital inflow in india- analysis , impact , measure , wayforwardAman Sindhwani
Foreign Investment In India ,Need for foreign capital, factors affecting foreign Inflows , Capital Flows in India , impact , Measures and a way forwards
Political forces affecting international businessMis bah
Political Forces : Affecting international business
1. Ideological forces
2. Government ownership of business
3. Privatization
4. Government stability
5. Country-Asset risk analysis
This presentation explains the views of international trade given by mercantilists and neo-mercantilists. it also presents a case study that shows mercantilism is still alive! Moreover, it also shows it's implication in US-CHINA Trade War.
The trade theory that first indicated importance of specialization in production and division of labor is based on the idea of theory of absolute advantage which is developed first by Adam Smith in his famous book The Wealth of Nations published in 1776.
Smith argued that it was impossible for all nations to become rich simultaneously by following mercantilism because the export of one nation is another nation’s import and instead stated that all nations would gain simultaneously if they practiced free trade and specialized in accordance with their absolute advantage. Smith also stated that the wealth of nations depends upon the goods and services available to their citizens, rather than their gold reserves. While there are possible gains from trade with absolute advantage, the gains may not be mutually beneficial. Comparative advantage focuses on the range of possible mutually beneficial exchanges.
Adam Smith argued that a country has an absolute advantage in the production of a product when it is more efficient than any other country producing it.
Countries should specialize in the production of goods for which they have an absolute advantage and then trade these goods for the goods produced by other countries
In economics, principle of absolute advantage refers to the ability of a party (an individual, or firm, or country) to produce more of a good or service than competitors, using the same amount of resources.
Trade globalizationInternational finance has become so interdependent and so interwoven with trade and industry that ... political and military power can in reality do nothing.... These little recognized facts, mainly the outcome of purely modern conditions (rapidity of communication creating a greater complexity and delicacy of the credit system), have rendered the problems of modern international politics profoundly and essentially different from the ancient."
WTO & Trade Issues - International Trade Environment.pptxDiksha Vashisht
To better understand how modern global trade has evolved, it’s important to understand how countries traded with one another historically. Over time, economists have developed theories to explain the mechanisms of global trade.
The main historical theories are called classical and are from the perspective of a country, or country-based.
Foreign capital inflow in india- analysis , impact , measure , wayforwardAman Sindhwani
Foreign Investment In India ,Need for foreign capital, factors affecting foreign Inflows , Capital Flows in India , impact , Measures and a way forwards
Political forces affecting international businessMis bah
Political Forces : Affecting international business
1. Ideological forces
2. Government ownership of business
3. Privatization
4. Government stability
5. Country-Asset risk analysis
This presentation explains the views of international trade given by mercantilists and neo-mercantilists. it also presents a case study that shows mercantilism is still alive! Moreover, it also shows it's implication in US-CHINA Trade War.
The trade theory that first indicated importance of specialization in production and division of labor is based on the idea of theory of absolute advantage which is developed first by Adam Smith in his famous book The Wealth of Nations published in 1776.
Smith argued that it was impossible for all nations to become rich simultaneously by following mercantilism because the export of one nation is another nation’s import and instead stated that all nations would gain simultaneously if they practiced free trade and specialized in accordance with their absolute advantage. Smith also stated that the wealth of nations depends upon the goods and services available to their citizens, rather than their gold reserves. While there are possible gains from trade with absolute advantage, the gains may not be mutually beneficial. Comparative advantage focuses on the range of possible mutually beneficial exchanges.
Adam Smith argued that a country has an absolute advantage in the production of a product when it is more efficient than any other country producing it.
Countries should specialize in the production of goods for which they have an absolute advantage and then trade these goods for the goods produced by other countries
In economics, principle of absolute advantage refers to the ability of a party (an individual, or firm, or country) to produce more of a good or service than competitors, using the same amount of resources.
Trade globalizationInternational finance has become so interdependent and so interwoven with trade and industry that ... political and military power can in reality do nothing.... These little recognized facts, mainly the outcome of purely modern conditions (rapidity of communication creating a greater complexity and delicacy of the credit system), have rendered the problems of modern international politics profoundly and essentially different from the ancient."
WTO & Trade Issues - International Trade Environment.pptxDiksha Vashisht
To better understand how modern global trade has evolved, it’s important to understand how countries traded with one another historically. Over time, economists have developed theories to explain the mechanisms of global trade.
The main historical theories are called classical and are from the perspective of a country, or country-based.
Taurus Zodiac Sign_ Personality Traits and Sign Dates.pptxmy Pandit
Explore the world of the Taurus zodiac sign. Learn about their stability, determination, and appreciation for beauty. Discover how Taureans' grounded nature and hardworking mindset define their unique personality.
Discover the innovative and creative projects that highlight my journey throu...dylandmeas
Discover the innovative and creative projects that highlight my journey through Full Sail University. Below, you’ll find a collection of my work showcasing my skills and expertise in digital marketing, event planning, and media production.
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Enterprise Excellence is Inclusive Excellence.pdfKaiNexus
Enterprise excellence and inclusive excellence are closely linked, and real-world challenges have shown that both are essential to the success of any organization. To achieve enterprise excellence, organizations must focus on improving their operations and processes while creating an inclusive environment that engages everyone. In this interactive session, the facilitator will highlight commonly established business practices and how they limit our ability to engage everyone every day. More importantly, though, participants will likely gain increased awareness of what we can do differently to maximize enterprise excellence through deliberate inclusion.
What is Enterprise Excellence?
Enterprise Excellence is a holistic approach that's aimed at achieving world-class performance across all aspects of the organization.
What might I learn?
A way to engage all in creating Inclusive Excellence. Lessons from the US military and their parallels to the story of Harry Potter. How belt systems and CI teams can destroy inclusive practices. How leadership language invites people to the party. There are three things leaders can do to engage everyone every day: maximizing psychological safety to create environments where folks learn, contribute, and challenge the status quo.
Who might benefit? Anyone and everyone leading folks from the shop floor to top floor.
Dr. William Harvey is a seasoned Operations Leader with extensive experience in chemical processing, manufacturing, and operations management. At Michelman, he currently oversees multiple sites, leading teams in strategic planning and coaching/practicing continuous improvement. William is set to start his eighth year of teaching at the University of Cincinnati where he teaches marketing, finance, and management. William holds various certifications in change management, quality, leadership, operational excellence, team building, and DiSC, among others.
The world of search engine optimization (SEO) is buzzing with discussions after Google confirmed that around 2,500 leaked internal documents related to its Search feature are indeed authentic. The revelation has sparked significant concerns within the SEO community. The leaked documents were initially reported by SEO experts Rand Fishkin and Mike King, igniting widespread analysis and discourse. For More Info:- https://news.arihantwebtech.com/search-disrupted-googles-leaked-documents-rock-the-seo-world/
Attending a job Interview for B1 and B2 Englsih learnersErika906060
It is a sample of an interview for a business english class for pre-intermediate and intermediate english students with emphasis on the speking ability.
Business Valuation Principles for EntrepreneursBen Wann
This insightful presentation is designed to equip entrepreneurs with the essential knowledge and tools needed to accurately value their businesses. Understanding business valuation is crucial for making informed decisions, whether you're seeking investment, planning to sell, or simply want to gauge your company's worth.
Accpac to QuickBooks Conversion Navigating the Transition with Online Account...PaulBryant58
This article provides a comprehensive guide on how to
effectively manage the convert Accpac to QuickBooks , with a particular focus on utilizing online accounting services to streamline the process.
RMD24 | Debunking the non-endemic revenue myth Marvin Vacquier Droop | First ...BBPMedia1
Marvin neemt je in deze presentatie mee in de voordelen van non-endemic advertising op retail media netwerken. Hij brengt ook de uitdagingen in beeld die de markt op dit moment heeft op het gebied van retail media voor niet-leveranciers.
Retail media wordt gezien als het nieuwe advertising-medium en ook mediabureaus richten massaal retail media-afdelingen op. Merken die niet in de betreffende winkel liggen staan ook nog niet in de rij om op de retail media netwerken te adverteren. Marvin belicht de uitdagingen die er zijn om echt aansluiting te vinden op die markt van non-endemic advertising.
Putting the SPARK into Virtual Training.pptxCynthia Clay
This 60-minute webinar, sponsored by Adobe, was delivered for the Training Mag Network. It explored the five elements of SPARK: Storytelling, Purpose, Action, Relationships, and Kudos. Knowing how to tell a well-structured story is key to building long-term memory. Stating a clear purpose that doesn't take away from the discovery learning process is critical. Ensuring that people move from theory to practical application is imperative. Creating strong social learning is the key to commitment and engagement. Validating and affirming participants' comments is the way to create a positive learning environment.
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1. •Free flow of imports and exports
Receive new technology
Satisfy their customers
Product, Price and Service quality
•Heavy competition and influx of new technology
Wipe out many local business
Prove to be a curse for small business
Manufacturing technology become obsolete
2. The World Trade Organization(WTO) is the most powerful
legislative and judicial body in the world.WTO is the only global
international organization dealing with the rule of trade between
nations. The objective is to help producers of goods and services,
exporters and importers conduct their business. Pakistan is one of
the founder member of the WTO, at present the WTO nearly 150
member of world trade of which there are 100 developing
countries including Pakistan.
3. There are eight arguments for WTO are:
•Promote peace
•Handle disputes
•Life easy for all
•Less cost of living
•More choices
•Increase in income
•Economic growth
•Life become more efficient
4. There are eight criticism against WTO are:
Dictates policy
Free trade without any cost
Priority over environment
Priority over health and safety
Destroy jobs, worsens poverty
Small countries become powerless
Tool of powerful lobbies
5. The business activities that involve the transfer of resources,
goods, services knowledge, skills or information across national
boundaries.
May involve
Individuals
Companies
Government bodies
International institutions
6. International transactions
Economic transactions that cross borders
International trade
Occurs when companies import or export across borders
International investment
Occurs when a companies invests its resources across national
boundaries
International firm
Those engaged in international business
7.
8. A multi-domestic firm is an enterprise with multiple
international subsidiaries that are relatively independent
from headquarters. The global firm consists of closely
integrated international subsidiaries controlled and
coordinated from central headquarters.
The MNE is defined by the organization from
economic cooperation and development as an
enterprise that engages in foreign direct
investment and owns or controls value-adding
activities in more then one country
10. International business is the outgrowth of domestic business.
Most major corporations started their operations in the domestic
market.
International entrepreneurs
Individuals or companies that invest and operate in another country
without a home base
11. Significantly different due to differences in:
Environmental Dynamics
Currency, inflation, interest rates, accounting practices, cultures,
language, social customs, laws, political stability
Operational Nature
Communication, coordination, motivation, differences in organizational
principles and management philosophies
12. Firms expand internationally for various motives:
Market motives
Economic motives
Strategic motives
Motives vary from one business activity to another.
13. Market Motives:
Offensive motive – seize market opportunities in foreign countries
through trade or investment.
Defensive motive – to protect and hold a firm’s market power or
position in the face of threats from domestic rivalry or changes in
government policy.
14. Strategic Motives
Capitalize on distinctive resources or capabilities already
developed at home
Be the first mover in a target foreign market
Benefit from vertical integration involving different countries
Follow the company’s major customers abroad
15. Economic Motives
Increase return through higher revenues and/or lower costs.
Enables the company to benefit from the differences in:
Costs of labors
Natural resources
Capital
Differences in regulatory treatment
16. International Trade Theory deals with the different
models of international trade.
Developed to explain the diverse ideas of exchange
of goods and services globally.
The theories of international trade have undergone a
number of changes.
An international trade theory can be seen as a
measure to address problems in a country. Since
1970, the time of Adam Smith, economists have
shown that free trade is efficient and leads to
economic welfare.
18. The trade theory that states that nations should accumulate
financial wealth, usually in the form of gold, by encouraging
exports and discouraging imports is called mercantilism.
According to this theory other measures of countries' well being,
such as living standards or human development, are irrelevant.
Mainly Great Britain, France, the Netherlands, Portugal and Spain
used mercantilism during the 1500s to the late 1700s
This trade theory suggested that a government can improve
economic well being of the country by increasing exports and
reducing imports, but turned out to be a flaw strategy.
19. Mercantilistic countries practiced the so-called zero-sum game,
which meant that world wealth was limited and that countries
only could increase their share at expense of their neighbors.
The economic development was prevented when the mercantilist
countries paid the colonies little for export and charged them
high price for import.
The main problem with mercantilism is that all countries engaged
in export but was restricted from import, another prevention
from development of international trade.
20. To export is good, to import is to be avoided
When you exported, you receive payment-
currency based on gold standard
Best thing to do is export as much as possible
to gain as much gold as possible
Problem with theory is that excludes the fact
that in some cases it is good to import
If you completely refuse to import, the
population will have to do without certain
consumer items.
21. A country has an absolute advantage over it trading partners if it
is able to produce more of a good or service with the same
amount of resources or the same amount of a good or service
with fewer resources.
22. Adam Smith: Wealth of Nations (1776) argued: – Capability of one
country to produce more of a product with the same amount of
input than another country – A country should produce only goods
where it is most efficient, and trade for those goods where it is not
efficient
Trade between countries is, therefore, beneficial
Assumes there is an absolute balance among nations.
… destroys the mercantilist idea since there are gains to be had by
both countries party to an exchange
… questions the objective of national governments to acquire
wealth through restrictive trade policies
… measures a nation’s wealth by the living standards of its
people.
23. Countries should specialize in producing what they are best at-
things they have an absolute advantage in
Bread / peanut butter, peanut butter/bread
Incentive to trade is based on each country having an absolute
advantage in a product
In realty- this is unrealistic and quite uncommon to happen this
way
In most cases, a straight-forward Absolute Advantage does not exist
in the real world. Some countries may have an advantage in one
commodity, and also a slight advantage in another commodity -
however there is still an opportunity for them to trade. This model
focuses perhaps the most important concept in international trade
theory. Countries specialize in producing what they produce best.
Unlike other models, the Ricardian framework predicts that
countries will fully specialize instead of producing a broad array of
goods.
24. Country has a comparative advantage in the production of a good or
service that it produces at a lower opportunity cost than its trading
partners.
Some countries have an absolute advantage in the production of many
goods relative to their trading partners.
It is better for a country that is inefficient at producing a good or service
to specialize in the production of that good it is least inefficient at,
compared with producing other goods
One country is said to have a comparative advantage over another
country in the production of a particular good if it produces that good
with lower opportunity costs.
Two countries can mutually benefit from trade even if one country is at
an absolute advantage relative to another country in the production of
every good.