FALL-2015 Get solved assignments at nominal price of Rs.125 each. Visit www.instamojo.com/subjects4u search for your code pay and download fully solved assignments. Any issues mail us at: [email protected] or contact at 09882243490 Master of Business Administration - MBA Semester 4 MB0053-International Business Management-4 Credits (Book ID: B1724) Assignment (60 Marks) Note: Answer all questions must be written within 300 to 400 words each. Each Question carries 10 marks 6 X 10=60. Q1. “The world economy is globalizing at an accelerating pace”. Discuss this statement and list the benefits of globalization. Answer. The world economy – globalizing at an accelerating pace:The world economy is globalizing at an accelerating pace as countries previously closed to foreign companies have opened up their markets. Geographic distance is shrinking because of the Internet, as the ambitious companies aim for global leadership. All this is possible because of booming international business. International business is mainly concerned with the issues that are related to international companies and governments’ cross border transactions. International business involves multiple countries to satisfy the objectives of every individual as well as the organizations. International business Q2. Compare the Adam Smith and David Ricardo’s theories of international trade with examples. Answer. Noted classical economist like Adam Smith and David Ricardo also argued that trade is ‘positive sum game’ and not a ‘zero sum game’ as mercantilists argued. Trade benefits everyone due to variety of reasons such as cost competitiveness, comparative advantages, absolute advantages, PLC cycle, factor endowments etc. and mercantilism theory is by all means considered ‘dead’ or ‘irrelevant’ in contemporary trade environment. Q3. Regional integration is helping the countries in growing their trade. Discuss this statement. Describe in brief the various types of regional integrations. Answer. Regional economic integration has enabled countries to focus on issues that are relevant to their stage of development as well as encourage trade between neighbors. There are more than one hundred regional trade agreements in place, a number that is continuously evolving as countries reconfigure their economic and political interests and priorities. Additionally, the expansion of the World Trade Organization (WTO) has caused smaller regional agreements to become obsolete. Some of the regional blocs also created side agreements with other regional groups leading to a Q4. Write short note on: a) GATS (General Agreement on trade in services) b) ILO (International Labour organization) Answer. a. General Agreement on Trade in Services (GATS) – GATS is a framework agreement defining the rules under which trade in services must occur. GATS aim at extending the rules covering trade in goods to trade in services. A detailed rule has been included to take into account the differences between goods and services and the way in which trade in services is conducted. Trade in services cover a wide range of activities in the area of telecommunication, information, banking, insurance and education. WTO has recognised over 150 service sub-sectors. Q5. What is the difference between domestic and international accounting and how will you measure this difference? Answer. Domestic vs. international accounting Different countries whether domestic or international, have different accounting standards. A common belief is that these differences reduce the quality and importance of accounting information. Accounting standards determine the financial reporting quality and provides separately verified information about an organization’s financial performance to investors’ creditors. Q6. Discuss the various payment terms in international trade. Which is the safest method and why? Answer. To succeed in today’s global marketplace and win sales against foreign competitors, exporters must offer their customers attractive sales terms supported by the appropriate payment methods. Because getting paid in full and on time is the ultimate goal for each export sale, an appropriate payment method must be chosen carefully to minimize the payment risk while also accommodating the needs of FALL-2015 Get solved assignments at nominal price of Rs.125 each. Visit www.instamojo.com/subjects4u search for your code pay and download fully solved assignments. Any issues mail us at: [email protected] or contact at 09882243490