Question

ACTIVITY:
For the promotion of international trade,
boosting up of exports in developing
nations, suggest some innovative ideas
anc design a GLOBAL PASSPORT.
​

Answer 1

Answer:

International Business

It refers to the trade at global level that is cross border transactions between two or more countries.

In simple words, it means trading beyond geographical limits of a country.

It is also called trade between two countries.

Scope of International Business

International Business is much broader term. It is not confined to international trade only that is import and export of goods and services. Rather it also involves a wide variety of other ways in which the organisations operate internationally.

​​​​Major forms of business operations that constitute international businesses are:

1. Merchandise exports and imports.

2. Service exports and imports.

3. Licensing.

4. Franchising.

It has become massive in scale as its purpose is ultimately to satisfy customers.

It also exercise a significant influence over economic, social, political life throughout the world because here we are dealing in more than one country.

International business is also known as Globalisation and is also defined as the study of the internationalization process of multinational enterprises.

Thus, to conduct business overseas, multinational enterprises need to separate national markets into one global marketplace and companies should be aware of all the factors that might affect the activities of the business.

Explanation:

International business comprises of operations between countries including trade of goods and services, licencing and franchising, foreign direct investment, etc.

International trade consists imports and exports only. International business is a wider term and a separate entity while International trade is a part of International Business only.

*There are different sets of documents required for both export and import. Please be specific regarding which kind of documents you require.

Answer 2

Answer:

Here are a few ideas to boost up exports in developing nations:

• Creating duty drawback schemes for indirect exporters

• Removing pre-payment of duty so that credit requirements can be reduced for exporters

• Making credit easily accessible to the producers and exporters

• Easing out rules and regulations for exporting goods

• Rendering cooperation among businesses, producers, exporters, governments and other important bodies.