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International Business Management Concepts

International Business Management Concepts

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Published by vennkkat3845

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Published by: vennkkat3845 on Dec 15, 2009
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Globalization – WTO Important Provisions & Agreements – InternationalTrade & WTO Trade Liberalization & Imports, Industry wise Analysis WTO,Intellectual Property Rights, Industrial Sector Trips Agreements & PharmaceuticalIndustry – WTO, Gats & Telecom Sector – Legal Environment & Dispute SettlementMechanism Cultural Difference & Cross Cultural Factors, Foreign DirectoryInvestment Concepts, Theory - Determinants Benefits Economics Reforms – Regional Trade Blocks – India’s Trade Policy, Foreign Exchange Market – Exchangerate Theory – FEMA – Euro Vs Dollar – Currency Crisis in developing countries, GlobalStrategic Management – Contractual Agreements – Joint Venture – Turnkey Projects – Global Hex Model – Major Players in the International Market – Staffing Policy in theGlobal Scenario, Structure & Trends in Foreign Trade – Global Sun Rise Industry (Bio-Technology) – SWOT Analysis of various sectors – EXIM Policy – SEZ
Globalization describes an ongoing process by which regional economies,societies, and cultures have become integrated through a globe-spanning network of communication and exchange. The term is sometimes used to refer specifically toeconomic globalization: the integration of national economies into the internationaleconomy throughtrade,foreign direct investment,capital flows,migration, and the spread of technology. However, globalization is usually recognized as being driven by acombination of economic, technological, sociocultural, political, and biological factors.The term can also refer to the transnational circulation of ideas, languages, or  popular  culture.1
The World Trade Organization (WTO) is aninternational organizationdesigned by its founders to supervise andliberalizeinternational capital trade. The organization officially commenced on January 1, 1995 under theMarrakesh Agreement, replacing theGeneral Agreements on Tariffs and Trade (GATT), which commenced in 1947. TheWorld Trade Organization deals with regulation of trade between participating countries;it provides a framework for negotiating and formalizing trade agreements, and a disputeresolution process aimed at enforcing participants' adherence to WTO agreements whichare signed by representatives of member governments and ratified by their  parliaments.Most of the issues that the WTO focuses on derive from previous trade negotiations,especially from theUruguay Round(1986-1994). The organization is currentlyendeavouring to persist with a trade negotiation called theDoha Development Agenda(or Doha Round), which was launched in 2001 to enhance equitable participation of poorer countries which represent a majority of the world's population. However, the negotiationhas been dogged by "disagreement between exporters of agricultural bulk commoditiesand countries with large numbers of subsistence farmers on the precise terms of a 'specialsafeguard measure' to protect farmers from surges in imports. At this time, the future of the Doha Round is uncertain."
International trade is exchange of capital,goods, andservicesacrossinternational   bordersor territories. In most countries, it represents a significant share of gross domestic   product(GDP). While internationaltradehas been present throughout much of history, its economic, social, and political importance has been on the rise in recent centuries.Industrialization, advancedtransportation,globalization,multinational corporations, and outsourcingare all having a major impact on the international trade system. Increasinginternational trade is crucial to the continuance of globalization. International trade is amajor source of economic revenue for any nation that is considered a world power.Without international trade, nations would be limited to the goods and services producedwithin their own borders.2
International trade is in principle not different fromdomestic tradeas themotivation and the behavior of parties involved in a trade does not change fundamentallydepending on whether trade is across a border or not. The main difference is thatinternational trade is typically more costly than domestic trade. The reason is that a border typically imposes additional costs such as tariffs, time costs due to border delaysand costs associated with country differences such as language, the legal system or adifferent culture. International trade uses a variety of currencies, the most important of which are held asforeign reserves  bygovernmentsandcentral banks. Here the  percentage of global cummulative reserves held for each currency between 1995 and2005 are shown: theUS dollar is the most sought-after currency, with theEuroin strong demand as well. Another difference between domestic and international trade is thatfactors of productionsuch as capital and labor are typically more mobile within a countrythan across countries. Thus international trade is mostly restricted to trade in goods andservices, and only to a lesser extent to trade in capital, labor or other factors of  production. Then trade in goods and services can serve as a substitute for trade in factorsof production. Instead of importing the factor of production a country can import goodsthat make intensive use of the factor of production and are thus embodying the respectivefactor. An example is the import of labor-intensive goods by the United States fromChina. Instead of importing Chinese labor the United States is importing goods fromChina that were produced with Chinese labor. International trade is also a branch of economics,which, together withinternational finance, forms the larger branch of  international economics.
Intellectual property (IP) is a number of distinct types of legal monopoliesover creations of the mind, both artistic and commercial, and the corresponding fields of law.Under intellectual property law, owners are granted certainexclusive rightsto a variety of intangible assets, such as musical, literary, and artistic works; discoveries and inventions;and words, phrases, symbols, and designs. Common types of intellectual property includecopyrights,trademarks,patents,industrial design rightsandtrade secretsin some  jurisdictions.3

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