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People are able to recall • 20% of what they read • 30% of what they hear • 40% of what they see • 50% of what they say • 60% of what they do • 90% of what they see, hear, say, do 1

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Page 1: People are able to recall 20% of what they read 30% of what they hear 40% of what they see 50% of what they say 60% of what they do 90% of what they see,

People are able to recall

• 20% of what they read• 30% of what they hear• 40% of what they see• 50% of what they say• 60% of what they do• 90% of what they see, hear, say, do

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Page 2: People are able to recall 20% of what they read 30% of what they hear 40% of what they see 50% of what they say 60% of what they do 90% of what they see,

International Business Management

Unit 1 - Session 1

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Page 3: People are able to recall 20% of what they read 30% of what they hear 40% of what they see 50% of what they say 60% of what they do 90% of what they see,

Reading

• Daniels John D, Radebaugh Lee H & Sullivan Daniel P ,

International Business:Environment and Operations, 10th Edition, Pearson

• P. Subba Rao, International Business: Text and cases, 2nd Edition, Himalaya Publishing house

• Doing Business in 2006- World Bank

• World Development Indicator-World Bank3

Page 4: People are able to recall 20% of what they read 30% of what they hear 40% of what they see 50% of what they say 60% of what they do 90% of what they see,

What is International Business?

• Commercial Transaction– Buying, Selling or providing services (value

addition)– Movement of goods or services across

sovereign borders– Reverse movement of consideration- Money– Motive- Profit ( short term or long term)– Governments may do business without profit

motives

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Page 5: People are able to recall 20% of what they read 30% of what they hear 40% of what they see 50% of what they say 60% of what they do 90% of what they see,

International Business

• Sales & Service

• Purchase or consumption

• Investment

• Transport

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Page 6: People are able to recall 20% of what they read 30% of what they hear 40% of what they see 50% of what they say 60% of what they do 90% of what they see,

Why International Business?

• Competition in Domestic Market• Limitation of domestic market- size, product

acceptance• Availability of resources at cheaper prices• Sales at higher prices compared to domestic

market• Too much profit variation in domestic market

( seasonality, Business cycle)• No market for your product in domestic market-

Statutory and environment restriction

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Page 7: People are able to recall 20% of what they read 30% of what they hear 40% of what they see 50% of what they say 60% of what they do 90% of what they see,

Why companies engage in International Business??

• To expand market for Sales & services

• To acquire resources

• To minimize Risk

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Page 8: People are able to recall 20% of what they read 30% of what they hear 40% of what they see 50% of what they say 60% of what they do 90% of what they see,

Increase Sales ?

• Utilization of capacity– Leads to lower allocated cost

• Market expansion

• Higher profit

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Page 9: People are able to recall 20% of what they read 30% of what they hear 40% of what they see 50% of what they say 60% of what they do 90% of what they see,

Acquire Resources

• Products and services– Domestically not available– Cheaper overseas– Better quality which could give market edge

• Investment, technology, service, & information– Not available in the domestic market– Cheaper and abundant– Technologically superior

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Page 10: People are able to recall 20% of what they read 30% of what they hear 40% of what they see 50% of what they say 60% of what they do 90% of what they see,

Minimize Risk

• Domestic business cycles

• Seasonality

• Government hostility

• Competition targeting

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Page 11: People are able to recall 20% of what they read 30% of what they hear 40% of what they see 50% of what they say 60% of what they do 90% of what they see,

Why study International Business?

• India moving fast from Developing economy to Developed economy

• We will soon overtake most countries in the world in terms of size of economy– By 2020- we will be # 3– By 2050- We will be # 1 ????

• The growth will come through expanding Indian business across the globe

• India has opened its gate for International business in sales& services as well as Investment

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Page 12: People are able to recall 20% of what they read 30% of what they hear 40% of what they see 50% of what they say 60% of what they do 90% of what they see,

Reasons for Growth

• Expansion of Technology

• Liberalization of government policies relating to movement of goods and services.

• Development of institution to support International trade ( Support services)

• Increased global competition

• Consumer pressure

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Page 13: People are able to recall 20% of what they read 30% of what they hear 40% of what they see 50% of what they say 60% of what they do 90% of what they see,

Modes of International Business

• Merchandise Import and Export

• Services Import and Export– Tourism & Transportation– Performance of services– Use of assets

• Investment– Direct (FDI) -Controlling interest– Portfolio- Investment without controlling

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Page 14: People are able to recall 20% of what they read 30% of what they hear 40% of what they see 50% of what they say 60% of what they do 90% of what they see,

International Companies

• Multi domestic companies– Treats each market separately and has country-specific

strategies• Multinational Companies

– Global approach to foreign markets and production; will consider marketing and locate production facility anywhere in the world

– Must have operations in more than one country • Transnational Companies

– Company owned and managed by nationals in different countries.– An organisation in which capabilities and contribution may differ by

country but are integrated in worldwide operations

• Global Companies– Company which will integrate its operations that are located in

different company

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Page 15: People are able to recall 20% of what they read 30% of what they hear 40% of what they see 50% of what they say 60% of what they do 90% of what they see,

Strategic Orientation

• Domestic Market Extension

• Multi Domestic Market Concept

• Global Concept

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Page 16: People are able to recall 20% of what they read 30% of what they hear 40% of what they see 50% of what they say 60% of what they do 90% of what they see,

External Influences on International Business

• Physical and Societal Factors– Political

• India and Pakistan; USA and Cuba– Legal

• Domestic laws- Host and Home countries• Taxation, Forex, Distribution, IP

– Cultural• Interpersonal, social behavior, mental attitude

– Economic• Income Level, Distribution, Growth rate ,Economic status

– Geographical• Mountain, Deserts, Frequency of Natural disasters, climate etc.

– Historical• Affects Culture, behavior

• Competition

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Page 17: People are able to recall 20% of what they read 30% of what they hear 40% of what they see 50% of what they say 60% of what they do 90% of what they see,

Competition

• Strategy depends on the competition in the local market as well as in other countries where they face each other

• Marketing innovation– Companies surprise their competitors by marketing

innovations

• Number of competitors, capability of competitors• Competitive difference in the individual countries

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Page 18: People are able to recall 20% of what they read 30% of what they hear 40% of what they see 50% of what they say 60% of what they do 90% of what they see,

Patterns of Expansion

• Passive to Active Expansion– Passive response to proposal – Active search for opportunities

• External to internal handling of operation– Use of intermediary– Handling the operations by themselves

• Deepening mode of commitment– Export Import-Marketing with no production– Marketing & Production in one country– Marketing & Production in many countries with centralized control– Production and marketing in individual country with local decision

making

• Geographic Diversification– One- many- several

• Leapfrogging of expansion18

Page 19: People are able to recall 20% of what they read 30% of what they hear 40% of what they see 50% of what they say 60% of what they do 90% of what they see,

Competitive Strategies

• Globally standardized vs. Nationally responsive

• Country vs. Company competitive

• Sovereign vs.Cross National Relationship

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Page 20: People are able to recall 20% of what they read 30% of what they hear 40% of what they see 50% of what they say 60% of what they do 90% of what they see,

Goals of IB

• To achieve higher rate of profits

• Expanding the production capacities beyond the demand of the domestic country

• Severe competition in the home country

• Limited home market

• Political stability Vs. Political Instability

• Availability of technology and competent human resources

• High cost of transportation

• Nearness to raw materials

• Availability of quality human resources at less cost

• Liberalization and globalization

• To increase market share

• To achieve higher rate of economic development

• Tariffs and import quotas

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Page 21: People are able to recall 20% of what they read 30% of what they hear 40% of what they see 50% of what they say 60% of what they do 90% of what they see,

Advantages of IB

• High living standards

• Increased socio-economic welfare

• Wider market

• Reduced effects of business cycles

• Reduced risks

• Large-scale economies

• Potential untapped markets

• Provides the opportunity for and challenge to domestic business

• Division of labour and specialization

• Economic growth of the world

• Optimum and proper utilization of world resources

• Cultural transformation

• Knitting the word into a closely interactive traditional village

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Page 22: People are able to recall 20% of what they read 30% of what they hear 40% of what they see 50% of what they say 60% of what they do 90% of what they see,

Problems of IB

• Political factors

• Huge foreign indebtedness

• Exchange instability

• Entry requirements

• Tariffs, Quotas and trade barriers

• Corruption

• Bureaucratic practices of government

• Technological pirating

• Quality maintenance

• High cost

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