Q1.Why is international business used?

ANS--International business refers to the trade of goods, services, technology, information and capital
across national borders. It is used for the following reasons:

To access larger markets: Companies can increase sales and growth by expanding into new international
markets.

To reduce dependence on domestic markets: Diversifying into international markets can help reduce
dependence on the domestic market, which can be vulnerable to local economic conditions or
competition.

To take advantage of lower costs: Companies can reduce costs by producing goods and services in
countries where labor and raw materials are cheaper.

To reduce the impact of currency fluctuations: Companies can mitigate the impact of currency
fluctuations by earning and spending in different currencies.

To achieve economies of scale: By producing and selling products in multiple countries, companies can
achieve economies of scale, which can reduce costs and increase efficiency.

To access new technologies and resources: International business can provide access to new
technologies, resources, and knowledge that can improve a company's competitiveness.
Q2.ERPG ORIENTATION Model?
Ans- the ERPG (Emergency Response Planning Guideline) Orientation Model is a system used in the
chemical industry to determine the potential impact of a hazardous chemical release. The following are
key points to understand the ERPG Orientation Model:

Purpose: The ERPG model provides guidance for emergency planning and response efforts related to
hazardous chemical releases.

Focus: The model focuses on the concentration of a hazardous chemical in the air that would pose a
threat to human health, but not result in life-threatening effects.

Values: The ERPG values are established by a group of experts in toxicology, chemistry, and emergency
response and are used as a benchmark for emergency planning and response efforts.

Use: The ERPG model is used to determine the potential impact of a hazardous chemical release,
including evacuation and shelter-in-place decisions.

Importance: The ERPG model is important in ensuring the safety of communities near chemical facilities,
as well as the safety of first responders and other personnel involved in emergency response efforts.

Regular updates: The ERPG values are reviewed and updated regularly to ensure they remain relevant
and accurate.
Q3.potter’s Diamond model?
Potter's Diamond Model is a framework that explains the factors that influence the competitiveness of a
nation or a region in the global economy. It was developed by Michael E. Porter, a renowned Harvard
Business School professor and expert in competitiveness and economic development.

The model suggests that four main interdependent factors contribute to a nation or a region's
competitiveness:

Factor Conditions: This refers to the availability and quality of factors of production, such as labor,
capital, natural resources, and infrastructure.

Related and Supporting Industries: This refers to the presence of a strong network of suppliers, service
providers, and other related industries.

Firm Strategy, Structure, and Rivalry: This refers to the competitive behavior and characteristics of firms
within the region, including their strategies, organizational structures, and level of rivalry.

Related and Supporting Institutions: This refers to the presence of institutions, such as government,
universities, and trade associations that support and enhance the competitiveness of the region.

The model highlights that these four factors are interdependent and mutually reinforcing, and that a
strong performance in one area can support and enhance performance in the other areas. By
understanding the components of the diamond, policymakers and businesses can identify opportunities
for improvement and take action to enhance their nation or region's competitiveness.
Q5.PESTEL ANALYSIS
ANS-

PESTEL analysis is a framework used to analyze the macro-environmental factors that affect a business
or organization. It is a tool used to identify the political, economic, social, technological, environmental,
and legal factors that can impact the success of a company.

The following are the six categories of the PESTEL analysis:

Political: This refers to the political stability, tax policies, trade restrictions, and regulations that can
impact a business.

Economic: This refers to the economic conditions such as inflation, interest rates, and unemployment
that can impact a business.

Social: This refers to the demographic and cultural factors such as population growth, age distribution,
and attitudes towards work that can impact a business.

Technological: This refers to advancements in technology, including the rate of technological change and
the impact of new technologies on the industry.

Environmental: This refers to environmental issues such as climate change, resource scarcity, and waste
management that can impact a business.

Legal: This refers to laws and regulations, such as intellectual property protection, labor laws, and health
and safety regulations, that can impact a business.

By considering each of these factors, organizations can identify potential opportunities and threats, and
make informed decisions to mitigate risks and capitalize on opportunities.
Q6. Hofstede model of cultural dimension
Hofstede's Model of Cultural Dimensions is a framework that categorizes national cultures based on six
dimensions. The model was developed by Geert Hofstede, a Dutch social psychologist and cultural
researcher, based on a study of the values and attitudes of employees in IBM in the 1970s and 1980s.

The six dimensions of the Hofstede model are:

Individualism vs. Collectivism: Refers to the degree to which individuals in a culture prioritize their own
interests versus the interests of their group.

Power Distance: Refers to the extent to which people in a culture are comfortable with unequal
distributions of power.

Masculinity vs. Femininity: Refers to the extent to which a culture values assertiveness, competition, and
material success (masculinity) versus nurturing and quality of life (femininity).

Uncertainty Avoidance: Refers to the extent to which a culture is comfortable with ambiguity and
uncertainty.

Long-Term Orientation vs. Short-Term Orientation: Refers to the extent to which a culture values
perseverance and thrift, versus respect for tradition and fulfilling social obligations.

Indulgence vs. Restraint: Refers to the extent to which a culture allows people to indulge in their desires
and enjoy life (indulgence) versus control of these desires and maintain social order (restraint).

The Hofstede model is widely used as a tool for cross-cultural analysis and has been applied to various
fields including business, sociology, and psychology. By understanding the cultural dimensions of a
particular country, organizations can tailor their products, services, and marketing strategies to better
meet the needs and expectations of local consumers
Q7 leadership syle according to globe studies?
ANS-

The GLOBE (Global Leadership and Organizational Behavior Effectiveness) project is a large-scale cross-
cultural study of leadership and organizational behavior that was conducted from 1991 to 2004. The
study analyzed the leadership practices of over 17,000 managers from 951 organizations in 62 cultures.

According to the GLOBE study, there are nine leadership styles that can be observed across cultures:

Charismatic/Value-Based: Leaders who inspire and motivate followers through their values, vision, and
personal appeal.

Team-Oriented: Leaders who emphasize teamwork, collaboration, and interdependence.

Participative: Leaders who involve their followers in decision-making and provide opportunities for
input.

Human-Oriented: Leaders who focus on the development and well-being of their followers.

Autonomous: Leaders who emphasize independence, creativity, and self-sufficiency.

Self-Protective: Leaders who prioritize their own interests and personal power.

Instructional: Leaders who provide clear directions, rules, and procedures to their followers.

Paternalistic: Leaders who act as protectors, providing guidance and support to their followers.

Humane-Oriented: Leaders who prioritize ethics, morality, and fairness.

The GLOBE study highlights that the most effective leaders are those who can adapt their leadership
style to different situations and cultural contexts. In addition, the study also found that the most
effective leaders often use a combination of different leadership styles, depending on the context and
the needs of their followers.
 Q8. Function of world trade organization?
Ans

The World Trade Organization (WTO) is an intergovernmental organization that

promotes international trade and the reduction of trade barriers between its member
countries. The main functions of the WTO are as follows:

1. Monitoring and Enforcing Trade Agreements: The WTO oversees and enforces the
implementation of the trade agreements between its member countries. This includes
the General Agreement on Tariffs and Trade (GATT), the Agreement on Trade-Related
Aspects of Intellectual Property Rights (TRIPS), and other trade agreements.
2. Providing a Forum for Negotiations: The WTO provides a platform for member countries
to negotiate and reach agreements on trade-related issues. This includes talks on
reducing trade barriers, improving market access, and addressing trade disputes.
3. Providing Technical Assistance: The WTO provides technical assistance to developing
countries to help them better understand and participate in the global trading system.
This includes providing training, technical advice, and capacity building programs.
4. Dispute Resolution: The WTO provides a mechanism for resolving trade disputes
between member countries. This includes a dispute settlement process that is based on
a set of rules and procedures agreed upon by all members.
5. Monitoring Trade Policies: The WTO monitors the trade policies of its member countries
and provides a forum for members to exchange information on their trade policies and
practices.
 Q9. Structure of WTO?
Ans

The structure of the World Trade Organization (WTO) is designed to ensure that it can
effectively perform its functions of promoting international trade and reducing trade
barriers between its member countries. The main components of the WTO's structure
are as follows:

1. Ministerial Conference: The highest decision-making body of the WTO, the Ministerial
Conference meets every two years and is attended by trade ministers from all member
countries. The conference sets the agenda for the organization and makes important
decisions on trade-related issues.
2. General Council: The General Council serves as the WTO's main governing body in
between Ministerial Conferences. It is responsible for supervising the day-to-day work of
the organization, implementing decisions made by the Ministerial Conference, and
providing guidance on trade-related issues.
3. Councils and Committees: The WTO has a number of specialized councils and
committees that focus on specific areas of trade, such as agriculture, services,
intellectual property, and trade and development. These bodies provide a forum for
members to negotiate and reach agreements on trade-related issues.
4. Secretariat: The WTO Secretariat provides administrative and technical support for the
organization. It is responsible for carrying out the day-to-day work of the WTO,
including providing technical assistance to member countries and facilitating
negotiations and dispute resolution processes.
5. Dispute Settlement Body: The Dispute Settlement Body is responsible for resolving trade
disputes between WTO member countries. It operates under a set of rules and
procedures agreed upon by all members and provides a mechanism for settling disputes
peacefully and effectively.
 Q10 FROIGEN DIRECT INVESTMENT (FDI)?
ANS

Foreign Direct Investment (FDI) refers to a type of investment made by a foreign company or
individual in a business or enterprise that is located in another country. FDI is considered to be a
long-term investment and is typically made with the intention of acquiring a lasting interest in a
foreign business or enterprise, such as obtaining a significant ownership stake, management
control, or a significant role in the company's operations

1. Definition: Refers to a type of investment made by a foreign company or individual in a

business or enterprise that is located in another country.
2. Long-term investment: Considered to be a long-term investment with the intention of
acquiring a lasting interest in a foreign business or enterprise.
3. Significant ownership stake: Typically involves acquiring a significant ownership stake,
management control, or a significant role in the company's operations.
4. Portfolio investment contrast: Often contrasted with portfolio investment, which refers
to the purchase of stocks, bonds, or other financial instruments in a foreign company
without acquiring a significant ownership stake or management control.
5. Benefits: FDI can bring in new capital, create jobs, and transfer technology and expertise
in the host country. The investing country can benefit from access to new markets,
diversification opportunities, and a source of income.
6. Drawbacks: FDI can also have potential drawbacks, such as cultural conflicts, exploitation
of local resources, and negative environmental impacts.
7. Policy and regulations: Many countries have established policies and regulations aimed
at encouraging and managing FDI, in order to ensure it contributes to economic growth
and development in a balanced and sustainable way.
 Q11.Traif and non-tariff?
Tariff and Non-Tariff Measures (NTMs) are two types of trade barriers used by
governments to regulate international trade.

1. Tariff: A tariff is a tax imposed on goods imported into a country. It makes imported
goods more expensive, which in turn makes domestic goods more competitive. Tariffs
are used by governments to protect domestic industries from foreign competition and
to raise revenue.
2. Non-Tariff Measures (NTMs): NTMs refer to measures that regulate trade that are not
based on tariffs. Examples of NTMs include quotas, licensing requirements, and
technical standards. NTMs are used to regulate trade in a way that is not as visible as
tariffs, and they can have a similar effect in terms of making foreign goods more
expensive or difficult to access.
 Q12. Introduction of HRM and problem faced?
Ans

Human Resource Management (HRM) is the process of managing people within an

organization to ensure that the organization is able to meet its goals and objectives.
HRM involves a wide range of activities, including recruiting and hiring employees,
training and developing employees, managing employee performance, and
administering employee benefits.

The main challenges faced by HRM are:

1. Attracting and retaining talent: HR departments need to find ways to attract and retain
the best employees in a highly competitive job market.
2. Managing diversity and inclusion: HR departments must find ways to ensure that all
employees feel valued and included, regardless of their gender, race, ethnicity, or other
differences.
3. Employee engagement: HR departments must find ways to engage employees and
ensure that they are motivated and committed to their work.
4. Managing changes in the workplace: HR departments must be able to effectively
manage changes in the workplace, such as technological advancements, changes in laws
and regulations, and changes in the economy.
5. Ensuring compliance with laws and regulations: HR departments must be
knowledgeable about a wide range of laws and regulations that impact the workplace,
including employment laws, labor laws, and immigration laws.
6. Balancing cost and benefit: HR departments must find ways to balance the cost of HR
programs and initiatives with the benefits they provide to the organization and its
employees.
7. Managing conflicts: HR departments must find ways to manage conflicts within the
workplace, whether they are between employees or between employees and
management
Q12