In summary, a market economy encourages free trade and open markets, facilitating international business due to its emphasis on competition and minimal government intervention. Command economies may limit international business due to strict controls and centralized planning. Mixed economies provide a balance, but the interaction with international business depends on the government’s policies, regulations, and […]
Common Law: Civil Law: Link to International Business: Understanding the differences in legal systems is crucial for international business operations. Companies operating across these legal frameworks need to adapt their contractual agreements, dispute resolution strategies, and business practices accordingly to navigate the distinct characteristics of common law and civil law systems.
Government Takeover: Expropriation: In summary, government takeovers and expropriation have wide-ranging consequences that extend beyond immediate financial losses. The disruptions to operations, legal uncertainties, and impacts on investor confidence can hinder economic development and create challenges for businesses and economies in the affected regions.
Direct Market Entry Strategies: Indirect Market Entry Strategies: In summary, the choice between direct and indirect market entry strategies depends on the company’s goals, resources, risk tolerance, and the specific characteristics of the target market. It often involves a careful evaluation of the advantages and considerations associated with each strategy, along with a comprehensive understanding […]
EXW – Ex Works … (named place) • The seller responsible to place the goods at disposal of the buyer at seller’s facilities or any other named place. • EXW terms do not obligate the seller to clear exports or load goods into the collecting vehicle. • The seller has minimum obligation and buyer must […]
What are Incoterms® rules? The Incoterms® rules are the world’s essential terms of trade for the sale of goods. Whether you are filing a purchase order, packaging and labelling a shipment for freight transport, or preparing a certificate of origin at a port, the Incoterms® rules are there to guide you. The Incoterms® rules provide specific guidance to individuals […]
QUESTION 1 a) i. In the environment of export and import activities, there are TWO (2) types of forces. Describe those forces. (5 marks) ii. Identify FIVE (5) factors needed in export and import activities. (5 marks) b) Identify the functions of export and import agency below: (15 marks) i. Customs broker ii. Export and […]
• Incoterms (an acronym for International Commercial Terms) established in 1936 by the International Chamber of Commerce (ICC). • Incoterms is a series of pre-defined commercial terms published by the International Chamber of Commerce (ICC). • The use of Incoterms in International Trade is widespread today. • One of the first initiatives of the International […]