INTERNATIONAL BUSINESS

•IB is the business between borders •IB has been in existence throughout history •Today no country can claim it can prosper without IB -International Business means the transnationalisation of the world economy. -International Business is the attitude of mindit is mind set which views the entire world as a single market and corporate strategy is based accordingly.
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When did International Business Start?
• IB is not a new idea. • Evidence suggests China, India, and Japan were trading products throughout the world 15,000 years ago. • Africans also traded with South Americans several thousand years ago.

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International Business Terminology,
cont’d.

• International Business
– A business whose activities are carried out across national boarders

• Foreign Business
– The operations of a company outside its home or domestic market

• Multidomestic Company
– An organization with multicountry affiliates
• Each formulates its own business strategy on perceived market differences
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cont’d. • Global Company – an organization that attempts to standardize and integrate operations worldwide in most of all functional areas • International Company – A global or multidomestic company 4 .International Business Terminology.

History of International Business
• Early traders
– Well before the time of Christ, Phoenician and Greek merchants – China stimulated the emergence of an internationally integrated trading system
• “all roads lead to China”

• 17th Century mercantilism/colonialism
– British East India Company – Dutch East India Company – Portugal and France
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Environments of International Business
• Environment
– All the forces influencing the life and development of the firm

• Forces
– External Forces (Uncontrollable) – Forces over which management has no direct control – Internal Forces (Controllable) – Forces that management can use to adapt to external forces

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External Forces
• Competitive
– Kind, number, location

• Distributive
– For distributing goods and services

• Economic
– GNP, unit labor cost, personal consumption expenditure

• Socioeconomic
– Characteristics of human population

• Financial
– Interest rates, inflation rates, taxation
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and natural resources • Political – Forms of government. and opinions • Labor – Skills.External Forces. climate. beliefs. • Legal – Laws governing how international firms must operate • Physical – Topography. cont’d. and international organizations • Sociocultural – Attitudes. attitudes of labor • Technological – Equipment and skills that affect how resources are converted to products 8 .

Internal Environmental Forces • Factors of Production – Capital. production. finance. and marketing 9 . and people • Activities of the organization – Personnel. raw materials.

Why Is International Business Different? • Domestic Environment – All the uncontrollable forces in the home country that surround and influence the firm’s life and development • Foreign Environment – All the uncontrollable forces originating outside the home country that surround and influence the firm • different values • difficult to assess • interrelated 10 .

• International Environment – Interaction between domestic and foreign environmental forces or between sets of foreign environmental forces – Increased complexity for decision-making • Decision making more complex 11 .Why Is International Business Different? cont’d.

• National economies merging into an interdependent global economic system. 12 . • Material culture is beginning to look similar. • Perceived distances are shrinking due to advances in transportation and telecommunications.IB through Globalization • Trade and investment barriers are disappearing.

Import and export of goods and services. 13 .Manufacturing the goods first and then doing export.Outsourcing the product then market at home and abroad. • Sourcing and Marketing:.when firm source the raw material. • Manufacturing and Marketing:. • Global sourcing for Production:.TYPES OF INTERNATIONAL BUSINESS • Trading:. intermediates etc required for their manufacturing globally.

transportation. 14 .Providing services like tourism. it.• Services:. marketing and other services. consultancy etc. • Investment:.doing investment in the foreign economy for manufacturing. banking.

GEOGRAPHY  location  climate  terrain  waterways  natural resources ECONOMICS  technology  education  inflation  exchange rate  infrastructure THE INTERNATIONAL BUSINESS ENVIRONMENT CULTURE  language  family  religion  customs  traditions  food POLITICAL–LEGAL FACTORS  government system  political stability  trade barriers 15 .

Trade policy can also hinders the operations of the company.Banned the product completely.Imposing heavy taxes on the imported items.such as gold we can bring the gold upto a particular amount.• Custom Duties:. • Quotas’ Restriction:. Example:. Example:. • Complete Embargo:.as we export cars or bike manufactured in the foreign we have to pay 120% taxes. 16 .Putting quota restriction on import and export. • Trade Policy:.

• Political Risk • Technological Risk • Legal Risk • Economical Risk • Environmental Risk • Cultural Risk 17 .

Components of International Business Environment Global Environment Foreign Environment Domestic Environment Micro Environment Internal Environment 18 .

19 . • Influence the firm’s decisions & operations directly.External Environment Micro Environment Macro Environment • Micro Environment: Actors in the firm’s immediate environment. • Do not affect all the firms in an industry in the same way. • Macro environment: Wider societal forces. which affect the firm and also the players in the firm’s micro environment.

Micro Environment Competitors General Public Marketing Intermediaries Customers Suppliers Financial Institutions • Actors in the firm’s immediate environment. 20 .

Macro Environment Economic Env National Business Political Socio-cultural Demographic Technological Non Economic Env Global 21 .

Business decision making are economic in nature. Business activities are economic activities. 3. 22 . • Economic environment of business both national and global is of strategic importance. • Comprises of economic and non-economic environmental forces. 1.Macro Environment • Forces operate at home (domestic) country. host (foreign) country and global levels. A firm is an economic unit. 2.

GDP. fiscal. GDP Growth Rate etc) • Economic system • Economic plans and policies. GNI Per Capita. GNI PPP.Major Critical Economic Forces • Economic indicators (GNI.Monetary. • Economic problems and prospects 23 . trade and commerce.

Domestic Environment • All the uncontrollable forces originating in the home country that surrounds and influence the life and development of the firm. 24 .

Domestic Environment Competitive Structure Economic climate Political & Legal forces Uncontrollable IMPACT ? 25 .

Domestic firms venture into international business Lack of domestic demand and/or Intense Competition Export Promotion Measures and/or Economic Incentives 26 .

27 .Foreign Environment Geographical factors Economic conditions Socio-Cultural environment Political environment Technological environment Legal forces Uncontrollable forces originating outside the home country that surround and influence the firm.

Non-Economic Environment Political Socio-Cultural Legal Technological Ecological Geographical 28 .

services. and technology – provides challenging employment opportunities – reallocates resources. capital. and capital across the world – offers consumers new choices – permits the acquisition of a wider variety of products – facilitates the mobility of labor.Need for International Business • International business: – causes the flow of ideas. and shifts activities to a global level 29 . makes preferential choices.

CULTURAL ENVIRONMENT 30 .

• Malaysia truly asia…. food. fashion. festivals… • American culture influences the lifestyle of people worldwide. TV shows (Europe gives $600m yearly) and of course. 3Fs- Culture……… movies. dance. Da Vinci. They have huge income from food chains. Mandela and most important world leaders. 50 Cent.• To the world of business.Hollywood! • Bond. 31 .more popular than Gandhi. music. drama.Culture is 2Ms. 2Ds. Madonna. pop culture (70% sales from outside US).

Culture Culture is the ―set of values. rules. and institutions held by a specific group of people‖ It is learned and shared. and it defines group boundaries Subcultures exist within larger cultural Contexts One can acquire cultural literacy Ethnocentricity is a belief that one’s own culture is universally superior to others 32 . beliefs. its elements are interrelated.

Language • Spoken Language • Written Language • Official Language • Body Language • International Language B.Element of Culture A. Religion • Beliefs and Norms • Sacred Objects • Philosophical Systems • Prayer/ Rituals • Leading Religious of the World 33 .

C. Education • Literacy Level • Formal Education • Vocational Training • Human Resource Planning • Primary / Secondary / High education 34 .S) Polychronic) • Achievement • Work • Change • Risk Taking D. Values and Attitudes • Time (Monochronic (V.

Technology and Material Culture • Science • Invention • Energy Systems • Communications • Tools and Objects • Urbanization 35 .E. Social Organization • Social Institutions • Authority Structure • Interest Groups • Status Systems • Social Mobility F.

Law • Common Law • Code Law • Foreign law • Home / Host Country Law • Regulation / Antitrust Policy • International Law 36 . Politics • Nationalism • National Interests • Power • Ideologies • Political Risks • Sovereignty H.G.

S) Relationship – Oriented Cultures • Deal – Oriented Cultures • Relationship – Oriented Cultures 37 .S) Collectivism • Power Distance • Uncertainty Avoidance • Masculinity • Long-Termism C. Edward Hall’s High-Context (V.S) Low-Context Cultures B. Deal-Oriented (V.Cross-Culture Comparisons A. Hofstede’s Classification Scheme • Individualism (V.

Cross-Culture Training Methods (Ascending Order) • Area Briefing • Books • Sensitivity Training • Field Trips • Experiential • Field Experience Impact of Globalization • Globally competent employees • Ability to work with diverse cultures • Overcoming the self-reference criterion (SRC) 38 .

Cross- Cultural Negotiations • Non-Task sounding • Task-Related Information Exchange

• Persuasion • Concessions and agreement • Try to access 3 videos produced by Big world UW-W library  Cross-cultural communicating  Cross-cultural understanding  Cross-cultural negotiating

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ORGANISATIONAL CULTURE
Components of Organizational Culture Routine ways of communicating Norms shared by individuals and teams Dominant values held by an organization Guiding philosophy for management’s policies and decision making Rules of the game for getting along in the organization Climate of the organization

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7 dimensions of culture

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Layers of Organizational Culture Cultural Symbols Shared Behaviors Cultural Values Shared Assumptions 42 .

How Cultures Emerge Top Management • Agrees on shared assumptions of human behavior • Develops a shared vision of cultural values Behaviors • Employees behave in ways that are consistent with shared values and assumptions Results • Financial performance • Market share • Employee commitment Culture • Strong culture emerges • Traditions are maintained • Socialization practices for new employees 43 .

Requirements for Successfully Changing Organizational Culture  Understand the old culture first  Support employees and teams who have ideas for a better culture and are willing to act on those ideas  Find the most effective subculture in the organization and use it as a model Help employees and teams do their jobs more effectively Use the vision of a new culture as a guide for change  Recognize that significant cultural change takes time Live the new culture 44 .

Framework of Types of Cultures Flexible Formal Control Orientation Stable Clan Culture Entrepreneurial Culture Bureaucratic Culture Market Culture Internal Forms of Attention External 45 .

and processes are clearly defined 46 . organizers. responsibilities. efficiency. and stability * Members value standardized goods and services * Managers view their roles as being good coordinators. authority. rules. and enforcers of written rules and standards * Tasks.Attributes of a Bureaucratic Culture * Long-term concerns are predictability.

a product. as well as feelings of personal ownership of a business.Attributes of a Clan Culture * Members understand that contributions to the organization exceed any contractual agreements * A clan culture achieves unity with a long and thorough socialization process * Members share feelings of pride in membership. or an Idea * Peer pressure to adhere to important norms is strong * Success is assumed to depend substantially on sensitivity to customers and concern for people * Teamwork. participation. and consensus decision making are believed to lead to success 47 .

and being on the leading edge * This culture does not just quickly react to changes in the environment—it creates change *Effectiveness depends on providing new and unique products and rapid growth * Individual initiative. flexibility.Attributes of an Entrepreneurial Culture * There is a commitment to experimentation. innovation. and freedom foster growth and are encouraged and well rewarded 48 .

but when it does. quarterly. members are expected to conform Superiors’ interactions with subordinates largely consist of negotiating performance– reward agreements and/or evaluating requests for resource allocations Has a weak socialization process Few economic incentives are tied directly to cooperating with peers Often tied to monthly.Attributes of a Market Culture  Contractual relationship between individual and organization Independence and individuality are valued and members are encouraged to pursue their own financial goals Does not exert much social pressure on an organization’s members. and annual performance goals based on profits 49 .

and behaviors in organizations If an organization’s culture is not aligned with the changing expectations of internal and/or external stakeholders. individual satisfaction. although the evidence regarding the exact nature of this relationship is mixed Organizational culture affects employee behavior and performance Assessing which attributes of an organization’s culture need to be preserved and which ones need to be modified is a constant organization need 50 . the organization’s effectiveness can decline Organizational culture and performance are related.Organizational Uses of Culture Organizational culture has the potential to enhance organizational performance. attitudes. and a variety of expectations.

smile.etiquettes.. • Biz. shake hands. Culture. embrace. Tata. doctors. gifts. spirits. 51 . showing feet.vaastu saasthra. discussing religion. US-family members pics kept in office • Org. using first name etc. India. Malaysia. asking about family.P& G.dominant in a country. May be plural in countries like India. Culture. values. autos etc.buildings designed to keep out ghosts and – ve energy.Levels of Culture • National culture. beliefs What to wear. god pics in office room etc. being punctual. norms.

handshake • Frequent interactions.Maintaining good Organizational culture • Greeting.inter personal relation • Promoting feelings of equalityraces/religion/language • Reducing culture shock among new members • Group bonding techniques • Frequent research and updating of changes in the workforce • Matching changes in the work to the culture of the office 52 .

• Cultural conformity.new world.need to reduce outcasts • Cultural lag. new life • Cultural transmission. Films. fashion. tv.rapid change in one part of the culture does not confirm the same about all parts eg. Moral policing 53 . economy.Nothing is permanent but change • Cultural shock. politics play a role.Cultural aspects • Cultural adaptation.It is cumulative every generation.

Cultural traits • Masculine culture (success depends on individuals achievements. UK) and Emotional (Arabia.. emphasis on word) • Individualism (people see themselves as individuals) while communitarianism (people see themselves as a group) • Neutral (hides emotions eg.World becoming more neutral as modernization continues. efficiency. friends & relatives. life long. contacts. material focused. emphasis on written) Feminine (more emphasis on personal relationships. sympathy for less fortunate. time driven. Japan. 54 . India). shy.

POLITICAL ENVIRONMENT 55 .

Political Form of Government Political Party System Political Ideology Role of Government Political Stability 56 .

Socio-Cultural Language Education Attitude & values Religions & Superstition Social groups & Organizations 57 .

IMPACT OF POLITICAL ENVIRONMENT ON BUSINESS 58 .

Home and Host Country Political Environments The Uncontrollable • Sovereignty of nations and nationalism • Stability of government policy • Political risks in global business  Confiscation  Expropriation  Domestication • Embargoes. Boycotts and Sanctions • Violence 59 .

• Economic and Commercial risks  Exchange controls  Import restrictions  Local-content laws  Price controls  Labor problems  Tax controls  Commercial risks • Assessment of potential political risks • Politically sensitive products 60 .

• Reducing political vulnerability  Good corporate citizenship  Managing citizen affairs (PR)  Understand the differences in political ideologies • Strategies to lessen political risks  Joint venture  Expanding the investment base (Local financial partner)  Marketing and distribution  Licensing  Planned domestication (Greater local participation)  Use risk reduction through adequate insurance [Ex-im Bank – Foreign Credit insurance association. Overseas Private Investment Corporation (OPIC). and Agency for International Development (AID)] • Political payoffs (U. Foreign corrupt practices act) 61 .S.

• Strategies to reduce commercial risks  Joint venture  Investment base expansion  Marketing and distribution  Licensing  Planned domestication (Greater local participation)  Other 62 .

 Role of Government in Encouraging Global Trade • Trade liberalization • Attract FDI • Create and promote free trade zones • Open up the market for foreign products • Promote transfer of technology • Tax holidays for FDI • Special incentives for importation of ―State of the art‖ technologies • Provide market information and incentives for local SMEs to seek foreign markets • Host or encourage trade missions • Promote competitiveness of target industries • Provide/Invest in necessary business infrastructure development 63 .

Home and Host Country Legal Environment • Bases for legal systems  Common law (British/English)  Code law (Roman law)  Islamic law  Socialist law • Legal dispute situations  Between governments  Between companies and governments  Between companies 64 .

• Determination of legal jurisdiction  Jurisdictional clauses included in contract  Location of contract agreement  Location of contract performance • International dispute resolution  Conciliation of mediation  Arbitration  Arbitration centers  Arbitration clauses  Enforcement of Arbitration  Litigation 65 .

66 .Patent Law The United States vs. p175. Japan United States Japan  Protects individual inventors  Promotes technology sharing  Patents applications are secret  Protects application are public  Patent granted in up to 24  Patent granted in 4 to 6 years months  Patent valid for 17 years form  Patent valid 20 years from date issued application date Source: Crossing-boarders 7-4.

93.Commercial law within Countries/Regions • Marketing laws • Green marketing legislation • Antitrust laws USA • Sherman act (1890) • Clayton act (1914) • Robinson-Patman (1936) European Union Treaty of Rome • Articles 85-86 (Private Companies) • Articles 92. 37 (Government/States) • Articles 222 and 90 (Public enterprises) 67 .

the law and the regulatory system that affect the way an organisation operates Environment Economic Socio-Cultural Environment 68 .The Political Environment Relatively uncontrollable factors outside the firm that influence its decision-making Legal and Political Environment Technological Environment Factors in government.

The Political Environment SYSTEM STABILITY Legal and Political Environment POLICIES 69 .

processes.SYSTEM Includes the structures. Political System  Autocratic state  Democratic state 70 . and activities by which a nation governs itself.

SYSTEM Autocratic state Democratic state Imposed authority Freedom Lack of constitutional guarantees Rights Restricted participation  Companies light need to pay bribes to government  The business law is vague Doing business seems to be a risky proposition  Stable business environment thanks to laws  Freedom and no censorship Doing business in a democratic state seems to be safer than in a totalitarian state 71 .

Public ownership of business is encouraged is the norm The political ideology affects .Private ownership of business .foreign government attitude towards foreign direct investment 72 .foreign government attitude towards profit repatriation. .SYSTEM Political Ideology Capitalist System  Capitalist system  Socialist system Socialist System .

SYSTEM Political relationships Favorable political relationships  foster stable business environments  increase international cooperation in many areas  lead to increase business opportunities and lower risk The World Trade Organisation can facilitate political relationships  The WTO ensures that trade flows as smoothly. predictably and freely as possible. 73 .

» 74 .STABILITY Political Stability : « A subjective governance indicator aggregated from a variety of sources and measuring perceptions of the likelihood of destabilization.

» • Copyrights « Copyrights give creators of original works the freedom to publish or dispose of them as they choose. » • Industrial Property « Industrial property includes patents and trademarks. »  The problem is that laws in some countries are softer than in others 75 .POLICIES PROPERTY • Intellectual Property « Property that results from people’s intellectual talent and abilitie.

including individual company officers. or death caused by defective products.POLICIES PRODUCT SAFETY AND LIABILITY « Product liability holds manufacturers. and others. responsible for damage. injury. sellers.  Enforcement of product liability laws differs from nation to nation. » The United States has the toughest product liability laws in the world following by Europe. 76 .

Legal Environment of Business 77 .

and it’s body of rules recognized and enforced by courts of law. 78 . . Law is a rule relating to the actions of human beings.LEGAL ENVIRONMENT OF BUSINESS • Law is the command of the sovereign.. .

maximum of freedom to assert themselves and determine the sphere within which the existence and activity of each individual will be secure and free 79 . enable individuals .Purpose of Law • To maintain status quo in society ensuring stability and security of social order.

Advantages of Law • The principle of law provide uniformity and certainty to the administration of justice The existence of fixed principles of law avoids the dangers of arbitrary. biased and dishonest decisions The fixed principles of law protect administrators of justice from the errors of individual judgment 80 .

precedents.Parliament.law derives its force and validity from the time immemorial • Legal sources. legislation • Historical sources.Sources of Law • Formal sources. literary works. commandments of the god • Legislations.juristic writings.statues . state assemblies 81 .

• The relationship created by nature like mother and child. A number of relations are established between different persons. brothers.Law of Contracts • Human beings live together in a society. social or contractual relations. These relations may be natural. 82 . sisters are called as natural relations.

• A number of legal principles are framed to regulate these contractual relations between individuals. classmates etc are called as social relations • The relations created by individuals with their own willingness to do or not to do something between them is know as contractual relations.Law of Contracts • Relations created by the society between the individuals such as neighbors. 83 .

• (c) to uphold and protect the sovereignty. • (e) to promote harmony and the spirit of common brotherhood amongst all the people of India transcending religious. • (d) to defend the country and render national service when called upon to do so. the National Flag and the National Anthem. • (b) to cherish and follow the noble ideals which inspired our national struggle for freedom.FUNDAMENTAL DUTIES • It shall be the duty of every citizen of India— • (a) to abide by the Constitution and respect its ideals and institutions. to renounce practices derogatory to the dignity of women. unity and integrity of India. linguistic and regional or sectional diversities. 84 .

• (g) to protect and improve the natural environment including forests. humanism and the spirit of inquiry and reform. and to have compassion for living creatures. • (i) to safeguard public property and to abjure violence. rivers and wild life. • (h) to develop the scientific temper.FUNDAMENTAL DUTIES • (f) to value and preserve the rich heritage of our composite culture. • (j) to strive towards excellence in all spheres of individual and collective activity so that the nation constantly rises to higher levels of Endeavour and achievement. 85 . lakes.

The laws made by the state exercising their legislative powers under the constitution have to be in consonance with those of the supreme law 86 . and the liberties of the citizens.National law • National law is the law of the land. duties. It provides the rights. The constitution of India is the supreme law of the nation.

International law is considered to be a weak law because it is not founded on the sovereign authority 87 . International law is the law of nations.International law • While the national law is the law of a nation . Where as International law is the body of rules which are legally binding on states in their intercourse with each other.also known as municipal law.

Amnesty international. refugees problem.B. Curbing terrorism. bilateral agreements.. extradition treaties.WTO.Human rights and their violation2.The need for International law • International law has witnessed a great impetus in the present scenario than ever before.1.filing of pleadings. UNESCO. oral arguments before International court of justice. maritime. poverty. 88 . adducing evidence. Intellectual property rights. space laws. etc.IMF.W. air. issues like nuclear deals. UNO. Hague (The de facto (de jure) capital of the Netherlands) 3.4. border disputes. global peace.contracts entered by transnational companies.

Mercantile law • Merchants have their separate courts called – courts of piepoudrous (courts of Speedy justice) and the courts were incident to fairs and market places. (an unwritten law) consisted of only the customs and usages or practices of the trade 89 . The source of mercantile law is LEX MERCATORIA. grappled it. The common law courts in England envying the jurisdiction exercised by these non-official courts.

partnership.Civil Law • It governs the litigation arising between individuals over properties. accident cases etc. Liability to compensate the affected party will be in the monetary form 90 . The Nature of penalty is civil in nature. monetary affairs.

murder.. the government for violation or injury to public rights files suits. The State takes initiative to file the case. 91 . The nature of punishment is monetary and imprisonment. and capital punishment in rare cases. cheating etc.Criminal law • In criminal cases. Criminal law governs cases arising out of theft .

Economic Environment 92 .

Elements of Economy • • • • • • • • Political Systems Economic System Economic policies Economic planning Growth strategy Industry Agriculture Infrastructure 93 .

Elements of Economy • • • • • Financial and fiscal Sectors Foreign Trade Balance of Payment Economic Development Sustainable Development 94 .

Economic Environment (EE) EE includes:– The structure and nature of economy – The stage of development of economy. – Economic resources – The level of income – The distribution of income and assets – Global economic linkage and – Economic policies 95 .

• Economies are divided into 3 according to the per-capita income 1. 56 countries in the world – First World. govt.Low Income Economies: economies with Low per-capita Gross National Income $825 or low.Nature of Economy • Economies depend on the nature and size of demand.The middle Income Economies: Per capita GNI between $826 to $3255 (lower middle) GNI with $3256 to $ 10065 (Upper middle Income) – 96 .066 or above. Policies of business. 59 countries in 2004 – Third world countries 2.High Income Economies: GNI Income $10. 3.

Tertiary sector: service sector(small.Secondary Sector: Industry 3.Structure of Economy 1. and large sectors) 97 . medium.Primary Sector: Agriculture 2.

• Till 1991 of large private sector was limited.joint and cooperative.the scope and role of . large. •17 major important industries -were owned by the state.Industrial policy • IP is defined. public.Economic policies 1. •In 12 major -industries state had a dominant role. medium and Scope small industries. private.different sectors like. • Lot of licensing regulations for the entry and growth of private sector-companies – limited scope • Liberalization gave enormous business opportunities – new 98 business. joint sector. growth and expansion . .

2. credit availability RBI / central bank and 99 . Foreign investment and technology policy 5. Fiscal Policy. Trade policy 3. Monetary policy control the cost.Govt policy of taxation 6. Foreign Exchange Policy 4.

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