International Business Solution Assignment (Doc)

Added on - 21 Feb 2021

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InternationalBusiness
ContentsINTRODUCTION...........................................................................................................................................3TASK 1..........................................................................................................................................................3P1- Explain import and export data for the United Kingdom..................................................................3P2 Describe the mechanisms that regulate international trade..............................................................4M1 Asses the methods to promote/ or restricts trade between countries.............................................7D1 evaluate the potential problems faced by businesses that trade internationally when entering anew market.............................................................................................................................................7TASK 2..........................................................................................................................................................8P3- Describe how the environment and culture of another country affects a business operatinginternationally................................................................................................................................8M2. Compare how cultural differences and foreign business environments affect multi-nationalcorporations............................................................................................................................................9D2. Evaluate the impact of cultural differences on international business performance in theinternational market..............................................................................................................................10TASK 3........................................................................................................................................................10P4– Describe how the monetary environment affects businesses that operate internationally..........10P5- Identify why businesses operate internationally............................................................................11P6- Explain the business strategies used by a business operating internationally.................................13CONCLUSION.............................................................................................................................................15REFRENCES................................................................................................................................................16
INTRODUCTIONInternational business refers to procedure which is based on various activities such astrading of goods and services, technology, capital, knowledge and many more from one place toanother. It is generally done among two countries or nations. There are numbers of benefits ofinternational business such as increase in customer’s base, trading of knowledge or capital,expand business, enhance economy and many more(Dunning, 2013)Organization taken for thisassignment is Apple which is a public company and operating its business in software andhardware industry. It is founded by Steve Jobs, Steve Wozniak and Ronald Wayne in year 1976.Its headquarter is situated at Park Way, Cupertino, California, United State and it offer’s varietyof products as well as services at worldwide level. Products offer by respective company areiPod, iPhone, Home Pod and so on as well as services are App store, apple arcade etc.. Topicscovered in this report are import and export data of United Kingdom, mechanisms whichregulate international trade andenvironment of other country which affects business operatinginternationally. Along with this it will also include monetary environment that will affectsbusinesses which operate internationally and reasons why an organization operatesinternationally. It will also explain about business strategies which can be used by a businesswhile operating international level.TASK 1P1- Explain import and export data for the United KingdomImport is when products and services are brought into the country from another part ofthe world, for example the Uk importing BMW’s from Germany.Exporting is when products or services are taken outside the UK to another country in theworld.Because the UK is in the European Union, all trade deals are done through the EU.However, when the UK leaves the European Union on March 29th the UK will have tonegotiate it’s own trade deals with countries(Shenkar, Luo and Chi, 2014).
This will cause major problemsfor trade with Europe as the EU exports Billions ofpounds each year to the U.K. If we have a no deal with the EU which is at the moment verylikely than not only will the EUlose out on billions of pounds but there will also be ashortage of EU products in the United Kingdom.P2 Describe the mechanisms that regulate international trade.There are various mechanisms or government which regulates international trade so thatcompany conducts their work in legal as well as effective manner. Through this an organizationdevelops their strategies and conducts it in proper manner in order to attain their objective andtarget(Killing, 2013). Some of the major mechanisms which help Apple company in regulatingtheir business operations and functions at international market are given below:-WTO/World trade organization:WTO is an organization which plays as the judge & Jury when it comes to international trade.Itgenerally develops rules and regulations for companies which is operating or planning to operateits business in international market. Through this an organization able to operate or conduct itsbusiness at international level in effective manner. There are some major features and benefits ofworld trade organization are given below:-Ensuring nations don’t break trade rules.(USAvs. Brazil)Organization is made up of governments.Trade agreements can be made between nations (Through WTO supervision)WTO can encourage trade (Dispute settlements, free trade encouragement)WTO can also punish nations with sanctions if rules not followed. (Restricting trade insome occasions)Apple – WTO can promote free trade between nations by acting as an enforcer of tradeagreements. (Free trade = Good for Apple)Apple – Penalties & Sanctions can affect Apple trade with nations.Trade BlocsIntergovernmental agreement within close proximity to one another regarding free trade.Byadopting this agreement company able to reduce trade barriers which they may face whileoperating or conducting its business in some other country(Beamish, 2013). There are several
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