Understanding Business
11th Edition
ISBN: 9780078023163
Author: William G Nickels, James McHugh, Susan McHugh
Publisher: McGraw-Hill Education
expand_more
expand_more
format_list_bulleted
Question
Chapter 3, Problem 2DWS
Summary Introduction
To discuss: Business participation of imported foerign goods in global trade and also compile a list of advantages and disadvantages.
Introduction: Global trade refers to purchasing and selling of goods or sevices at global level. It is also known as international trade between nations.
Expert Solution & Answer
Want to see the full answer?
Check out a sample textbook solution
Students have asked these similar questions
A market entry strategy is the planned method of delivering goods or services to a target market and distributing them there. Once a firm decides to enter a foreign market, the question arises as to the best mode of entry. Explain advantages and disadvantages of different entry modes that Marketers must need to consider when enter the foreign market. Use critical approach to address the issues.
Using appropriate academic resources, assess the impact of a country's economic, demographic, and political/legal environment on business. You should select a country that you are at least somewhat familiar with. I have listed some ideas to give you a starting point on your research. You should include this information but are not limited to only this information. After you find the information on each of these three sections, write a paragraph analyzing how this impacts business in the country. Your assignment should be at least 2 pages long and you should use APA format to cite your sources. Economic Environment Economic growth data Employment data Inflation data Income distribution Interest rates Political and Legal Environment
As an international trade document, what does an import/export license allow you to do?
A- Discuss purchasing arrangements with vendors.
B- Bring goods into a country or ship them out.
C- Navigate an automobile.
D- Conduct research on foreign businesses.
Chapter 3 Solutions
Understanding Business
Ch. 3.1 - Prob. 3.1AQCh. 3.2 - Prob. 3.2AQCh. 3.2 - Prob. 1TPCh. 3.2 - Prob. 2TPCh. 3.2 - Prob. 3TPCh. 3.2 - Prob. 4TPCh. 3.3 - Prob. 3.3AQCh. 3.3 - Prob. 3.3BQCh. 3.3 - Prob. 3.3CQCh. 3.3 - Prob. 5TP
Ch. 3.3 - Prob. 6TPCh. 3.3 - Prob. 7TPCh. 3.3 - Prob. 8TPCh. 3.4 - Prob. 3.4AQCh. 3.4 - Prob. 9TPCh. 3.4 - Prob. 10TPCh. 3.4 - Prob. 11TPCh. 3.4 - Prob. 12TPCh. 3.5 - Prob. 3.5AQCh. 3.5 - Prob. 3.5BQCh. 3.5 - Prob. 13TPCh. 3.5 - Prob. 14TPCh. 3.5 - Prob. 15TPCh. 3.5 - Prob. 16TPCh. 3.6 - Prob. 3.6AQCh. 3.6 - Prob. 17TPCh. 3.6 - Prob. 18TPCh. 3.6 - Prob. 19TPCh. 3.6 - Prob. 20TPCh. 3.6 - Prob. 1MEDCh. 3 - Prob. 1CTCh. 3 - Prob. 2CTCh. 3 - Prob. 3CTCh. 3 - Prob. 4CTCh. 3 - Prob. 1DWSCh. 3 - Prob. 2DWSCh. 3 - Prob. 3DWSCh. 3 - Prob. 4DWSCh. 3 - Prob. 6DWSCh. 3 - Prob. 1VCCh. 3 - Prob. 2VCCh. 3 - Prob. 3VC
Knowledge Booster
Similar questions
- please use Nestle as the caribbean company and Canada as the international market You are hired as a consultant by Tokyo Inc. to prepare a report based on the undermentioned criteria.You will choose a known Caribbean Company in the agro-processing sector and its product (s) withinformation available on the internet, that does not currently operate outside the Caribbean CARICOMregion. You will conduct a comprehensive study of the international business environment, that is, thegeography, culture, government, history, economics, and politics of a new country, outside of the region,from which you believe the company and its product (s) could operate profitably. Propose a strategy forinternationalization. Looking particularly at entry strategies that could be utilized as discussed in the course.You will need to keep in mind the domestic realities of the company and its product (s) by conducting asituation analysis to start. You are also required to suggest an international strategy after…arrow_forwardNeed a self explanatory solution for the following question How countries with Intellectual Property Rights regulations trade with countries that do not have such regulations and what can the former countries do to prevent "copycats" of their competitive products and still be profitable in those countries without regulations?arrow_forwardYou are operating in Jamaica and want to market your Hand Sanitizers to Brazil. Conduct an assessment of the mode of entry you will utilize based on the 5 modes discussed in the course (exporting, licensing arrangements, partnering and strategic alliances, acquisitions, establishing new, wholly owned subsidiaries). Discuss two (2) potential advantages and two (2) disadvantages of the mode of entry selected. Conduct research on two (2) companies that failed when using the mode of entry you have selected for your product. Company names must be stated and what led to the failure must be clearly identified.arrow_forward
- China and India have been the world's fastest-growing economies in recent years, and Brazil is becoming a major force in international commerce. Write a short essay that summarizes how these three countries are changing the landscape of international business, and describe the arena in which each excels. Then choose some type of business that you would like to be involved in, and describe how and why you, as a manager in that business, would choose to work with other organizations in one of these three countries.arrow_forwardA company's market entry strategy is critical in the success of that business. Name a local business in your country and discuss a possible global market entry strategy that this business can use to enter an international market of your choice. In your discussion, justify your choice of international market and reasons for selecting this market entry strategy.arrow_forwardYour lecturer has assigned you to present in class on the impact of culture towards global marketing. Prepare a short presentation script regarding how culture of a certain country has effects on the communication or promotion of the products/services, distribution of the products/services, and the products/services themselves Your lecturer has assigned you to present in class on the impact of culture towards global marketing. Prepare a short presentation script regarding how culture of a certain country has effects on the communication or promotion of the products/services, distribution of the products/services, and the products/services themselvesarrow_forward
- As a highly admired international entrepreneur, you have been invited to give a speech on the need to adapt products and services when entering into global markets. Explain to your audience three reasons why localization or adaptation may need to be done by firms to ensure the success of the product or service in the foreign markets. Provide relevant examples in your explanationarrow_forwardhttps://www.businessoffashion.com/articles/global-markets/africa-vs-the-usa-a-secondhand-clothing-showdown/ I need a short sumary of this article please.arrow_forwardSelect a multinational company that operates in your country. Evaluate the importance to this company of undertaking SWOT and PEST analysis before it substantially expands its operations. [20]arrow_forward
- In a short essay explain when to buy a product from other countries or make it locally. Use relevant examples to support your answer.arrow_forwardin your role as an international marketing consultant, you have been approached by the owner of a small business selling coconut oil for use in the food and beauty industries. the business currently has sales of g$10,000,000 per annum but realize that there are opportunities to grow by expanding to overseas countries and need some expert advice on where to expand and how. in your role, select two potentially contrasting overseas countries to conduct an analysis of the economic and trade environments and discuss the differences likely to be experienced in expanding from the home market of guyana. note that only one country must be a developed country(advanced economy).arrow_forwardGlobalization is not a new phenomenon. Select your favorite product produced by a global organization. Provide a brief description of the product and the organization that develops the product. What are the advantages and disadvantages of the product sold internationally? What would be the advantages and disadvantages of the product being sold solely in the United States? Has your definition of globalization changed from before reading chapter one and answering these questions of a favorite product, or is your definition the same? Please explain.arrow_forward
arrow_back_ios
SEE MORE QUESTIONS
arrow_forward_ios
