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DRIVE- SUMMER
2014
PROGRAM/SEMESTER-MBADS/
MBAFLEX/ MBAHCSN3/ MBAN2 – SEM 4 PGDBMN/ PGDENMN/ PGDFMN/ PGDHRMN/ PGDHSMN/
PGDIB/ PGDISMN/ PGDMMN/ PGDOMN/ PGDPMN/ PGDROMN/ PGDSCMN/ PGDTQMN – SEM 2
SUBJECT
CODE & NAME-MB0053 –International Business Management
Q1. “The world economy is globalizing at an accelerating pace”. Discuss
this statement and list the benefits of globalization.
(Discuss the
statement-6, Listing the benefits-4) 10 marks
The world economy is globalizing at an accelerating pace
The world economy is globalising
at an accelerating pace. Countries that were previously closed to foreign
companies have now opened up their markets. Internet has made the world a
smaller place. All these factors have contributed to the growth of international
business. International business operates under different economic, political,
and legal
Q2. Compare the Adam Smith and David Ricardo’s
theories of international trade with examples.
(Adam
Smith’s theory-5, David Ricardo’s theory-5) 10 marks
Answer.
Adam Smith’s theory/ Absolute advantage
theory
Adam Smith attacked
the mercantilism and argued that countries differ in their ability to produce
goods and services efficiently due to variety of reasons. At that time, England,
by virtue of their superior manufacturing processes, were the world’s most
efficient textile manufacturers of the world. This was due to combination of
several factors such as favorable climate, good soils, skilled manpower and
accumulated experience and expertise in textile production. On
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Q3. Regional integration is helping the
countries in growing their trade. Discuss this statement. Describe in brief the
various types of regional integrations.
(Regional
integration-3, types-7)
10 marks
Answer.
Regional integration
Regional integration
can be defined as the unification of countries into a larger whole. It also
reflects a country’s willingness to share or unify into a larger whole. The
level of integration of a country with other countries is determined by what it
shares and how it shares. Regional integration requires some compromise on the
part of
Q4. Write short note on:
a) GATS (General Agreement on trade in services)
b) ILO (International Labour organization)
(Meaning and role of
GATS-5, Meaning and role ILO-5) 10 marks
Answer.
a)
General
Agreement on Trade in Services (GATS) –
It encourages
countries to modify their domestic regulations. This modification results in
elimination of restrictions applied to service products entering the country
and is applicable to international service suppliers who are carrying out
business in various modes. According to the GATS, MFN status and transparency
is applicable to all services.
Q5. What is the difference between domestic and
international accounting and how will you measure this difference?
(Differences-35,
measures-5) 10 marks
Answer.
Difference between domestic and international accounting
The management of
finance in domestic and international business is considerably different. The
four major aspects which distinguish international management from domestic
financial management are the introduction of foreign exchange, political risks,
market imperfection and enhanced opportunity set. They are explained as
follows:
Foreign exchange risks
– The
foreign exchange risks states the fluctuation or variation in the prices of
currency which will have a tendency to convert a profitable deal to a loss
making one. This creates a situation of additional risk
Q6. Discuss the various payment terms in
international trade. Which is the safest method and why?
(The modes of
payment-8, Safest mode-2) 10 marks
Answer.
Various payment terms and payment methods in international trade
Since international
trade deals with exchange of goods, there are various ways in which the payment
terms (finance) will be handled. Bothe seller and trader should be careful
about the method of payment as
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