SUBJECT:-International Business

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INDIAN SCHOOL OF BUSINESS

MANAGEMENT & ADMINISTRATION

AN ISO 9001 : 2008 CERTIFIED INSTITUTION

SUBJECT:-International Business

MARKS :80

Course :MBA-4 Sem (Masters In Business Administration Dual

Name :

           

Answer the question in one line.

Q1. What is meant by Technology? What is its influence on business? (10 marks)

Answer: Technology is the collection of techniques, methods or processes used in the production of goods or services or in the accomplishment of objectives, such as scientific investigation. Technology can be the knowledge of techniques, processes, etc. or it can be embedded in machines, computers, devices and factories, which can be operated by individuals without detailed knowledge of the workings of such things.

The human species' use of technology began with the conversion of natural resources into simple tools. The prehistoric discovery of how to control fire increased the available sources of food and the invention of the wheel helped humans in travelling in

Q2. What are the functions of WTO? (10 marks)

Answer: The WTO secretariat, based in Geneva, has around 600 staff and is headed by a Director-General. Its annual budget is roughly 160 million Swiss Francs. It does not have branch offices outside Geneva. Since decisions are taken by the members themselves, the secretariat does not have the decision making the role that other international bureaucracies are given.

The secretariat s main duties to supply technical support for the various councils and committees and the ministerial conferences, to provide technical

Q3. How do differences in culture affect in international business? (10 marks)

Answer: To begin with, language is one of the most significant factors that have impacts on international business, since language is the crucial medium for business partners to communicate with each other and understand their ideas. During the frequent global trade and commerce, the exchange of language is necessary, which has great effect on international trades. There are some taboo words and idioms in every language, which are likely to cause problems. For instance, some specific numbers are treated differently in different areas. The number “3” enjoys both praise and abuse alike. In Monaco, people like this number very much

Q4. What is agricultural & village industry facility in special focus initiatives? (10 marks)

Answer:With a view to doubling our percentage share of global trade within 5 years and expanding employment opportunities, especially in semi urban and rural areas, certain special focus initiatives have been identified for the agriculture, handlooms, handicraft, gems &jewellery and leather sectors.

National Bank for Agriculture and Rural Development (NABARD) is an apex development bank in India having headquarters based in Mumbai (Maharashtra)and other

Q5. What is cost & freight (CFR)? (10 marks)

Answer:Cost refers to the cost of goods and freight refers to all other costs relating to all the means of transportation of the goods. It means that the seller must pay the costs and freight necessary to bring the goods to a named port of destination and must also procure marine insurance against the buyer's risk or loss to the goods during the carriage.

C&F stands for cost and freight and is always stated as C&F port of importation. The norm is to state the geographic location of the port of importation. For example, C&F Mumbai, India. In the export quotation, the party has to indicate the port of destination (discharge) after the acronym CIF, for example CIF Mumbai and CIF Singapore.The term

Q6. What is DDU? (10 marks)

Answer:Incoterms, like DDU, are contract specifications outlining who bears the costs and risks of international transactions. Some incoterms specify where in the transaction process the delivery risks shift from seller to buyer, while others determine who incurs expenses.

“Delivered duty unpaid” means that the seller fulfils his obligation to deliver when the goods have been made available at the named place in the country of importation. The seller has to bear the costs and risks involved in bringing the goods thereto (excluding duties, taxes and other official charges payable upon importation) as well as the costs and risks of carrying out customs formalities. The buyer has to pay any additional costs

Q7. List out organizations related with international economic environment affiliated with UN. (10 marks)

Answer:The United Nations Economic and Social Council (ECOSOC) constitutes one of the principal organs of the United Nations. It is responsible for coordinating the economic, social and related work of 14 UN specialized agencies, their functional commissions and five regional commissions. The ECOSOC has 54 members; it holds one four-week session each year in July. Since 1998, it has also held a meeting each April with finance ministers heading key committees of the World Bank and the International Monetary Fund (IMF).

Q8. Explain main responsibilities of IMF. (10 marks)

Answer:The work of the IMF is of three main types. Surveillance involves the monitoring of economic and financial developments, and the provision of policy advice, aimed especially at crisis-prevention. The IMF also lends to countries with balance of payments difficulties, to provide temporary financing and to support policies aimed at correcting the underlying problems; loans to low-income countries are also aimed especially at poverty reduction. Third, the IMF provides countries with technical assistance and training in its areas of expertise. Supporting all three of these activities is IMF work in economic research and statistics

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