MGT361 Introduction to Internation Business Assignment Answers Malaysia
The MGT361 Introduction to Internation Business course is designed to provide students with a broad overview of the international business environment. The course covers topics such as the global economy, international trade and investment, cultural differences, and global strategy. The course also discusses the impact of technology on international business and the role of multinational corporations in the global economy. By the end of the course, students should have a good understanding of the factors that affect international business and be able to analyze the competitive environment of global industries.
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Assignment Brief 1: To describe the basic concepts and the importance of understanding international business.
In today’s increasingly interconnected world, it is more important than ever to have a basic understanding of international business. At its core, international business is simply business transactions that take place across national borders. These transactions can include everything from the import and export of goods and services to the licensing of intellectual property or the formation of joint ventures.
While the basics of international business may seem relatively straightforward, there are a number of important factors that must be taken into account. For example, businesses must be aware of the legal and regulatory environment in each country where they operate. They also need to be conscious of cultural differences and how they might impact business dealings. Additionally, businesses must have a good understanding of the economic climate in different countries in order to make informed decisions about where to invest or expand.
Despite these challenges, there are many reasons why it is important to understand international business. For one thing, as the world becomes more connected, businesses are increasingly likely to find themselves operating in multiple countries. Additionally, as global markets become more accessible, businesses need to be able to compete on an international level.
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Finally, as more countries adopt liberalized trade policies, it is becoming easier for businesses to expand their operations into new markets. In order to succeed in today’s global economy, it is essential to have a strong understanding of international business.
Assignment Brief 2: To discuss the various activities in international business and business practices used to penetrate in international marketplaces.
International business comprises all commercial activities that take place to promote the transfer of goods, services, and capital across international borders. In a global economy, businesses must be aware of and adapt to cultural, political, and legal differences in order to succeed. There are several different ways for businesses to enter the international market. They can export goods and services, license their technology, or set up a joint venture with a foreign company. Each option comes with its own risks and rewards.
Exporting is the most common form of international business. It involves selling goods and services to customers in another country. The biggest benefit of exporting is that it allows businesses to tap into new markets and generate additional revenue. However, businesses must be careful to research foreign markets before entering them. They need to be aware of any tariffs or quotas that may apply to their products. They also need to have a good understanding of the local culture and customs.
Licensing is another option for businesses looking to enter the international market. When a business licenses its technology to a foreign company, it allows that company to produce and sell products or services using the licensed technology. The benefits of licensing include reducing the risk of operating in a foreign market and generating royalty income from product sales. However, businesses should be aware that they will lose some control over their technology when they license it. They will also need to carefully monitor how the technology is used in order to protect their intellectual property rights.
A joint venture is a business arrangement in which two or more companies come together to share the risks and rewards of operating in a foreign market. Joint ventures can be an effective way for businesses to enter new markets because they allow companies to pool their resources and share the costs of doing business. However, joint ventures can also be risky because they involve sharing control with another company. Before entering into a joint venture, businesses should carefully consider whether it is the right option for them.
Assignment Brief 3: To demonstrate knowledge on world marketplaces and the direct effect to business nowadays.
The world marketplace is the aggregate of all international markets for goods, services, and capital. It can be divided into two main parts: the developed world and the developing world. The developed world includes North America, Europe, Japan, and Australia. These countries have well-established economies and are home to most of the world’s largest businesses. The developing world includes Latin America, Africa, and Asia. These countries are typically less developed economically, and their business environments are often more volatile.
The world marketplace has a direct effect on businesses today. With the globalization of the economy, businesses have to be able to compete on an international level. Additionally, as global markets become more accessible, businesses must be able to adapt to changing market conditions. The world marketplace is also affected by political and economic events. For example, Brexit has created uncertainty in the global economy, and this has had an impact on businesses around the world. To succeed in the world marketplace, businesses need to be aware of these factors and how they can affect their operations.
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