DCM7103 INTERNATIONAL BUSINESS

Description

SESSION	September 2023
PROGRAM	master of commerce (M com)
SEMESTER	III
course CODE & NAME	DCM7103– INTERNATIONAL BUSINESS
CREDITS	3
nUMBER OF ASSIGNMENTS & Marks	02 30 Marks each

 

Set – 1^st

Questions

 

1. What do you mean by globalization? Explain the merits and demerits of globalization.

Ans: Globalization: 

Globalization refers to the increasing interconnectedness, interdependence, and integration of economies, societies, cultures, and governance structures across the world. It involves the flow of goods, services, capital, information, ideas, and people across national borders, breaking down barriers and creating a more interconnected global system.

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2. Explain the Mercantilism theory and comparative advantage theory.

Ans: Mercantilism Theory:  Mercantilism was an economic theory that dominated European economic thought in the 16th to 18th centuries. It is often considered an early form of economic nationalism.

Key principles of mercantilism include: 

Trade Surpluses: Mercantilist thinkers believed that a nation’s wealth was determined by the amount of gold and silver it possessed. Therefore, countries aimed to achieve trade surpluses, exporting more than they imported, to accumulate precious metals.

Colonial

 

 

3. What do you understand by culture? What are needs to understand the cultural differences among countries in the context of international business?

Ans:  Culture: Culture refers to the shared values, beliefs, customs, behaviours, and artifacts that characterize a social group. It encompasses the way people in a particular group or society think, communicate, interact, and make sense of the world. Culture is a complex system that influences individuals’ perceptions, attitudes, and behaviours. It is transmitted from one

 

 

 

 

Set – 2^nd

Questions

 

1. What do you mean by human resource management? Explain different approaches used in staffing in an international business.

Ans:Human Resource Management (HRM): 

Human Resource Management (HRM) refers to the strategic approach to managing an organization’s most valuable assets—its people. HRM involves the recruitment, selection, training, development, performance evaluation, and overall management of an organization’s workforce. In the context of international business, HRM becomes even more complex as it must address

 

 

2. Explain functional and product division structures along with their importance in international business context.

Ans: Functional Division Structure: 

Definition: A functional division structure is an organizational arrangement where the company is divided into various functional areas or departments based on specialized functions or skills. Each department is responsible for specific business functions such as marketing, finance, operations, and human resources. This structure allows for a clear focus on specialized tasks

 

 

3. Explain joint ventures and licensing in the perspective of international business with the help of examples.

Ans: Joint Ventures in International Business: 

Definition: A joint venture (JV) in the context of international business involves the collaboration of two or more companies from different countries to establish a new business entity, sharing ownership, control, risks, and profits. Joint ventures are formed to leverage the strengths