International Business: Importance, WTO, and Trade Mechanism

International Business

EXECUTIVE SUMMARY
Trade in business is important as it help in providing opportunity to expand at wider scale.
In business sector, trading of goods and products is done at larger level. With this contemporary
business environment, it has become crucial to focus on development of organisational goals in
proper manner. So, WTO is organisation that regulate the trade policies and procedure to make
assure everything is carried out in legal way.

Table of Contents
EXECUTIVE SUMMARY .................................................................................................................2
INTRODUCTION ...............................................................................................................................5
MAIN BODY ......................................................................................................................................5
LITERATURE REVIEW.....................................................................................................................5
Critical discussion and analysis ...........................................................................................................7
Briefly explain the understanding of motivations behind formation of WTO................................7
Analyse and describe functions of World Trade Organisation .......................................................8
Critically examine opportunities and challenges that international company have as result of
WTO trade mechanism ..................................................................................................................9
Explain how market entry strategies are affected by external global forces .................................9
Briefly discuss effectiveness of WTO in policing global trade ....................................................10
Critically review of relevant and up to date literature from a range of credible sources .............11
CONCLUSION ..................................................................................................................................11
REFERENCES...................................................................................................................................12
Books and Journal: ........................................................................................................................12

INTRODUCTION
Business sector is wider as well as broader and is expanding at larger scale. In this
competitive market, every business and organisation aims at achieving of higher profit and revenue
(ayafuji, 2020). Main aim of this report is to understand the importance of international business in
this contemporary business environment. International business is to be defined as carrying of
exchange process of goods and products across the borders. WTO, a organisation that focuses on
regulation and facilitating of international trades between nations. It is headquartered in
Switzerland and has was formed in 1 January, 1995. In this organisation, three languages are being
spoken such as English, French and Spanish. WTO is also known as World Trade Organisation and
it has 164 members states. This report comprises of understanding of motivation behind formation
of WTO, role of global institutions in global trade, opportunities and challenges international firms,
market entry strategies, effectiveness of firm in policing global trade, review of literature.
MAIN BODY
LITERATURE REVIEW
According to the viewpoint of (Kim, 2019) the business sector comprises of national as well
as internal business. International business is a critically process which is to be carry out with
proper considerations. It is not easy for an enterprise to execute the activities when it comes to