International Business

June 2023 Examination

Ans:1.

Introduction

Promoting a product effectively across the many national markets and cultural contexts in
which a rapidly expanding business works may be challenging. Listed below are some of the
obstacles that might arise when an Indian chip and candy maker attempts to expand abroad.

There's a chance that your product won't do as well in international markets as it might
because of flaws in its design or quality. In many societies, desserts are given the same level
of importance as the main course.

When neither the speaker nor the listeners have a strong grasp of the target language, it may
be prudent to use the services of a professional translator. One possible fix is to increase the
number of multilingual customer support representatives. You'll feel more connected to the
people you help.

Concept and application

The results of market research and the company's willingness to adjust to the cultural norms
of its customers might determine the company's success. The success of your business will
depend on your ability to meet the needs of your ideal customers. Depending on the nuances
of the regional market, you may need to make adjustments to how you distribute your
products or set a higher bar for the competition.

Food regulations in areas such as labeling, storage, and retail sale may vary widely across
nations. In their pursuit of innovative technological solutions, engineers often fail to consider
the potential legal repercussions.

Manufacturers are obligated to check for compliance with all rules before releasing a product
to the public. In order to better fulfill the requirements of their consumers and adapt to the
ever-changing nature of their industry, firms may benefit from hiring criminal consultants
and subject-matter experts. Customers would be happier, and the business would make more
money.
Third, shipping across foreign boundaries might cause delays and additional expenditures.
The intricate nature of logistics and supply chain management makes even the most
fundamental needs difficult to identify. No one will purchase your products unless you can
show they have passed a series of fictitious tests designed to ensure their quality and
usefulness.

If regional producers and sellers worked together and shared more data, the source of supply
chain slowdowns may be more readily identified. If you're ready to invest a little more, your
products will arrive in perfect condition, guaranteed.

If you put in the time and effort, you can find out all there is to know about your rivals. It
might be challenging to distinguish your company from the many others offering the same or
similar services. Its main rival has been operating for longer, giving it an advantage in
understanding which dishes are most well-liked by locals.

Keeping tabs on what the competition is offering is one way to increase sales. The
advertisement of any product needs to emphasize its advantages. The success of your
business may depend on a number of factors, such as the quality of your products, the
helpfulness of your service employees, and the fairness of your pricing.

In highly competitive marketplaces, consumer loyalty to well-known brands might make

them wary of trying anything new.

Constructing a solid

One effective strategy for attracting new customers is to develop a logo that embodies the
values of your target demographic. You are doomed to fail unless you immediately alter your
strategy. An interesting corporate backstory, attractive product packaging, and strategic
placement are all examples of advertising strategies.

Discordant Interactions

In the current competitive job market, those who can demonstrate a command of many
languages will stand out from the crowd. Getting beyond these challenges is challenging, to
put it mildly. Translating your website, product labels, and promotional materials into as
many languages as possible can help you reach a wider audience.
Your company's long-term growth goals might be hampered by swings in the value of the
currency. Depending on the kind of company, this might make it more difficult to achieve
profitability at any time.

It may be possible to overcome this challenge by developing and maintaining strong

connections with local distributors and suppliers who are used to dealing with currencies
different from your own. If you are successful in doing so, they will be able to advise you on
your next steps. If you can keep the channels of communication open with the other side, this
will be the case.

This, of course, assumes that everything goes well. Businesses may mitigate the risks
associated with currency fluctuations by taking measures like hedging their assets or
relocating operations to less volatile regions. Any plan of action that makes sense to you
should be given careful thought. Probably hundreds, if not thousands, of such artifacts are
still there.

It is crucial to treat others with the same dignity and respect that one expects to be shown to
oneself. That is the only law that matters. If a corporation loses patent protection for a
product, it will be more challenging to expand into new markets and win over new
consumers. When the government does not forcefully safeguard people's rights to private
property, this kind of crime becomes surprisingly frequent.

Conclusion

If you take your career seriously, you should consult with a trademark or intellectual property
lawyer. If you find yourself in need of legal counsel, one of these lawyers may be able to
assist. Remember that you have the option of changing your mind at any time. It's essential
that our digital identities and possessions be protected.

Being in control of a firm while it explores uncharted territory is both exciting and nerve-
wracking. The odds of commercial success may be increased by removing obstacles and
establishing relationships with existing enterprises in the target market.
Ans:2.
Introduction
The World Trade Organization has long drawn criticism from both experts and average
citizens. Recent years have seen groundbreaking writings from prominent individuals in
economics including Dani Rodrik and Ha Joon Chang.

WTO policies fail miserably when it comes to advancing economic growth, decreasing global
poverty, and bolstering safeguards for human rights.

The strict requirements set by the World Trade Organization have been criticized for making
global economic inequality worse. Some analysts blame the World Trade Organization's
regulations for the worldwide increase in economic disparity.

Keep in mind that it wasn't until 1994 that the WTO really started doing anything. Several of
today's most appreciated luxuries were made possible by this development; some have even
made it to less industrialized countries. These changes are sometimes incorrectly attributed to
the World Trade Organization. Perhaps the World Trade Organization (WTO) was a driving
force behind these shifts.

Concept and application

To "promote free trade and open markets" is one of the World Trade Organization's stated
aims. This is a universally accepted method of doing business. There is hope for the future of
the World Trade Organization.

It may be in the best interests of developing nations to loosen export restrictions and seek out
new markets for these products. This agreement will be mutually beneficial in the long run.

The World Trade Organization (WTO) is quite particular about maintaining uniformity while
doing trade. This will provide nations more reason to share economic data and work together
on monetary policy. This might aid emerging nations in protecting their interests and keeping
the value of their currencies stable.

Free trade initiatives led by the WTO are not likely to help developing countries. One
obvious reason is that some nations just do not have powerful enough economies to thrive on
the international commercial arena. This is a major consideration. It is often held that the
World Trade Organization does not do a good job of representing the interests of its
members.

These countries' governments probably recognize the significance of these groups to their
citizens more than others do. Maybe this is why governments in those places have enacted
stricter regulations with fewer exemptions. This is because resources are often scarcer in low-
income communities as a result of the local economy. Therefore, it could be hard to get some
native people to give up their traditions.

If the WTO were to expand its intellectual property restrictions to developing nations in the
future, citizens there would be denied access to potentially life-saving medicines and
scientific breakthroughs. Everyone, no matter where they reside, may be vulnerable to a
decline in health. All stakeholders agree that this is the next logical step that must be taken to
successfully complete the project.

This is because everyone in the WTO is required to treat each other fairly and honestly. It
was inevitable that things would play out this way. The magnitude of the problem
necessitates that you give it your whole attention. Only individuals who have shown
themselves trustworthy in the past should be entrusted with intangible assets.

Small-scale farmers in developing nations would be hit most by the World Exchange
Corporation's anticipated decrease in agricultural subsidies. No country may give agriculture
subsidies in accordance with World Trade Organization standards.

The World Trade Organization (WTO) will need to rethink some of its laws and principles to
find answers to these questions. The concerns of individuals who may suffer as a result of
these changes must be taken into account. The time has arrived to begin cooperating more
successfully. The way we now think and act must change.

If the World Trade Organization (WTO) is serious about addressing the concerns raised in the
past, it should give the recommendations made in recent times careful consideration. If the
World Trade Organization doesn't tighten up on trade restrictions, rising economies might
undercut more developed ones in global markets. These groups are crucial to maintaining
governmental institutions and, in certain cases, enhancing their effectiveness.
If the rules and restrictions that developing nations have in place around intellectual property
were changed, it is possible that more people would have access to advanced medical
treatment and technical accomplishments. A lot of time would be spent discussing people's
great aspirations for economies that are rapidly expanding. It is encouraging to see that we
are still managing to make forward in spite of all of the challenges.

If the World Trade Organization (WTO) had access to more funds, it could be able to
contribute to the alleviation of global poverty and the enhancement of people's standard of
life.

In an attempt to raise the overall quality of life for its residents and expand their opportunities
for gainful work, the government is increasing funding for educational institutions such as
colleges.

To provide the impression that the country is moving forward in the face of intense global
competition, the government has presumably passed progressive labor laws and improved
working conditions. This technique makes perfect sense when taking into account the ever-
increasing degree of competitiveness all across the globe. Since its inception in 1995 as an
organization, this group has been under the direction of the World Communication
Organization.

Conclusion

While the World Trade Organization (WTO) has made some public relations mistakes, it has
accomplished a great deal of good. The most prosperous countries will reap the rewards.
Current commercial and economic conditions are unprecedented.

The World Trade Organization (WTO) might be the first step toward a more cooperative
international commercial and economic system. To achieve a just and long-lasting resolution,
it may be necessary to revise the present legal framework. If we can't end poverty and
wrongdoing, there's still reason to be optimistic about the future. If we can eradicate poverty
and inequality, this is feasible.

Ans:3(a)

Introduction
Knowing the local economy and culture inside and out is essential for making a profit selling
pedal-powered automobiles in South Africa. If you fail to take cultural variations into
consideration, you will face more resistance to your efforts. These two ideas are the
cornerstones of our methodology.

Concept and application

The Retail Industry: Some Thoughts

First-mover interest in completely electric bicycles among South African customers is

crucial. It's crucial to study the market, the preferences of potential customers, the products
offered by competitors, and the regulations currently in place.

Create a comprehensive advertising strategy.

The company's marketing division plans to do extensive market research in South Africa
soon to learn how to best increase sales of electric bicycles there. This will occur soon before
a major public relations push begins. Anything from coming up with a fresh product idea to
actually releasing the product might fall under this category. New product development may
also be part of the process.

Finding the most effective methods of distribution will help us get electric bicycles into the
hands of people in South Africa as soon as possible and help us achieve our objective. Our
huge retail footprint and strong alliances with other regional businesses will ensure that our
items are easily accessible to a wide audience. The bulk of these buyers seem to be located in
South Africa, according to the data we have gathered so far.

If you're planning to enter a new market, be sure you've done extensive supply chain testing
first. Taking these suggestions into account might be beneficial to the growth of your
business. The method proactively looks for problems in the supply chain and fixes them. If
you follow these steps, the transition will go off without a hitch.

Transporting items, ensuring their security in storage, and monitoring inventory levels are all
challenging components of the supply chain. Logistics may be outsourced to regional
suppliers while supply chain management is centralized.
After a transaction has been completed, it is crucial to follow up with the customer. This has
greatly improved the prospects for future cooperation. The members of our support staff have
suggested that we provide them access to extra resources. Our increased support options are
great news for those who have already purchased one of our electric bicycles. The origin of
this viewpoint is mysterious.

Conclusion

If young individuals have a steady income, they may request more assistance. If you can
work out the logistics, selling electric bicycles in South Africa may be a lucrative business.
We anticipate rapid growth in the market in the not-too-distant future.

Ans: 3.b:

Introduction

In today's global market, characterized by high levels of competition, a number of issues

might affect a company's capacity to create sales and profits. Perhaps the company's global
success can be attributed to its pricing approach. The most common methods of pricing in use
today will be covered in the following paragraphs.

Concept and application

The company plans to undercut rivals' costs on a variety of products as part of its entry
strategy. The term "cost of global growth" is often used to characterize the economic effects
of such a strategy on multi-national organizations. It's possible that focusing on customers
with lower incomes may boost sales.

The phenomenon has been linked to a practice known as "rate skimming," in which
businesses attempt to retain a larger share of the revenue generated by the higher spending of
new consumers. It is typical practice for prices to increase dramatically in the run-up to and
soon after the launch of a new product. You may get an edge over rivals in the market by
raising prices before they do. The economy has taken precedence over environmental
protection.

Price reductions are often required to keep up with the competition in the market. You've got
a good shot of continuing to excel at your current rate. Price reductionsn are often required to
keep up with the competition in the market. You've got a good shot of continuing to excel at
your current rate. "Price reasonably" means to establish prices that are comparable to those of
other firms in a similar market. We must instantly go to the store.

In value-based pricing, or value-driven total pricing, the whole amount a consumer is willing
to pay is taken into account. Harmonizing the assessment of stakeholder issues is the primary
focus of this effort.

A relatively new method of setting prices, dynamic pricing factors in changes in both supply
and demand. This model's adaptability at several price points prompted the slogan "Name
your price." If we want to be financially secure and successful, we need the economy to
develop steadily over time. This makes total sense to me.

The availability of our electric bicycles in South Africa is rapidly approaching. We need a
pricing plan that considers market share growth if we are to succeed. Keeping the barrier to
entry low is essential for expanding market share. Bicycles in South Africa are inexpensive
since the market there is so competitive. A similar electric bike could already exist.

Conclusion

As soon as our electric bicycles have established the norm in the industry and we have
secured a sizable part of the market, we want to begin charging market pricing. If this trend
continues, price hikes may become inevitable.