Mb0053 International Business Management

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ASSIGNMENT
DRIVE
PROGRAM
SUBJECT CODE
NAME
BK ID
CREDITS
MARKS

&

WINTER 2015
MBADS/ MBAFLEX/ MBAHCSN3/ MBA – SEM 4
MB0053INTERNATIONAL
BUSINESS
MANAGEMENT
B1724
4
60

Note: Answer all questions. Kindly note that answers for 10 marks
questions should be approximately of 400 words. Each question is
followed by evaluation scheme.
Question. 1. Why is Comparative Cost Theory considered as an
improvement upon Absolute Cost Advantage Theory?
Explain Porter’s Diamond Model
Answer:Comparative Cost Theory as an improvement on Absolute Cost
Advantage Theory
The principle of comparative costs is based on the differences in production costs
of similar commodities in different countries. Production costs differ in countries
because of geographical division of labour and specialisation in production. Due
to differences in climate, natural resources, geographical situation and efficiency
of labour, a country can produce one commodity at a lower cost than the other.
In this way, each country specialises in the production of that commodity in
which its comparative cost of production is the least. Therefore, when a country
enters into trade with some other country, it will export those commodities in
which its comparative production costs are less, and will import those
commodities in which its comparative production costs are high.
The theory of comparative advantage is an economic theory about the work
gains from trade for individuals, firms, or nations that arise from

Question. 2. Explain Hofstede’s Cultural dimension.

Answer:You know, dogs are interesting animals. If you have ever watched a
group of different breeds of dogs together, you see that there are dogs who are
aggressive, those that are mellow, some want to be the alpha male and some
are content just playing and having a good time. These different dimensions are
very similar to Geert Hofstede's Cultural Dimension theory, a theory that looks at
unique aspects of cultures and rates them on a scale for comparison. Now, I am
not trying to say dogs to humans are the same, but the way they interact is quite
similar.
The Six Different Types of Hoftede's Dimension
Geert Hofstede is a professor who researched how people from different
countries and cultures interact based on six different categories of cultural
dimensions. Those categories are:

Question. 3. “An economic union comprises of a common market and a
custom union.” Explain
Answer: Customs Unions and Single Markets are examples of deeper economic
integration between countries
Different stages of economic integration
Different stages of No
economic
Internal
integration
Trade
between countries Barriers
Free Trade Area
X
Customs Union
X
Single Market
X
Monetary Union
X
Economic Union
X

Question. 4.
Management.

Explain

the

Common
External
Tariff

Factor
Common
Common
and Asset
Economic
Currency
Mobility
Policy

X
X
X
X

X
X
X

components

X
X

of

X

International

Financial

Answer: International Financial Management also known as International
Finance is a popular concept which means management of finance in an
international business environment, it implies, doing of trade and making money
through the exchange of foreign currency. The International Financial activities
help the organizations to connect with international dealings with overseas

business partners- customers, suppliers, lenders etc. It is also used by
Government organization and Non-profit institutions.
Components of International Financial systems






Money.
Banking and Financial Institutions.
Financial Instruments.
Financial Markets.
Central Banks.

Question. 5. What are the differences between International Accounting
Standards and Domestic Accounting Standards?
Answer:Different countries whether domestic or international, have different
accounting standards. A common belief is that these differences reduce the
quality and importance of accounting information. Accounting standards
determine the financial reporting quality and provides separately verified
information about an organisation's financial performance to investors’creditors.
Differences between International Accounting Standards and Domestic
Accounting Standards
Though there are differences in accounting methods, domestic businesses are
not affected. The accounting system of a domestic organisation must meet the
specialised and regulatory standards of its home country. But, an MNC and its
subsidiaries must meet differing accounting and auditing standards of all the
countries in which it operates. This leads to a need for comparability between
businesses in the group. In order to successfully

Question. 6. Explain the key component of International Strategic
management.
Answer:Strategic management involves the formulation and implementation of
the major goals and initiatives taken by a company's top management on behalf
of owners, based on consideration of resources and an assessment of the
internal and external environments in which the organization competes.
Strategic management provides overall direction to the enterprise and involves
specifying the organization's objectives, developing policies and plans designed
to achieve these objectives, and then allocating resources to implement the
plans. Academics and practicing managers have developed numerous models
and frameworks to

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Send your semester & Specialization name to our mail id
:

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or
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