...New INCOTERMS effective January 1, 2011 The International Chamber of Commerce (ICC ) has published revisions to its International Commercial Terms, also known as INCOTERMS®, that take effect on January 1, 2011. The revised rules, designated "INCOTERMS 2010", contain a series of changes, such as a reduction in the number of terms to 11 from 13. The DAF, DES, DEQ, and DDU designations have been eliminated, while two new terms, Delivered at Terminal (DAT) and Delivered at Place (DAP), have been added. INCOTERMS 2010 also attempt to better take into account the roles cargo security and electronic data interchange now play in international trade. WHAT INCOTERMS ARE - INCOTERMS are a set of three-letter standard trade terms most commonly used in international contracts for the sale of goods. First published in 1936, INCOTERMS provide internationally accepted definitions and rules of interpretation for most common commercial terms. In the US, INCOTERMS are increasingly used in domestic sales contracts rather than UCC shipment and delivery terms. WHAT INCOTERMS DO - INCOTERMS inform the sales contract by defining the respective obligations, costs and risks involved in the delivery of goods from the Seller to the Buyer. WHAT INCOTERMS DO NOT DO - INCOTERMS by themselves DO NOT: • Constitute a contract; • Supersede the law governing the contract; • Define where title transfers; nor, • Address the price payable, currency or credit terms. These items are defined by the express terms in the...
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...Ningbo China Business School Academic Year 2015/16 Autumn Semester INTERNATIONAL BUSINESS ENVIRONMENT Lianxi Zhou EBay: China and India External Business Macro Environment Entry Report Group 2 Hugo John MASON; ID: 6513963 Boon Long Tan; ID: 6512494 Sung Jun PARK; ID: 6508247 Yasong ZHAO; ID: 6511938 Word Count: 3000 Table of Contents Introduction 2 China 3 Political Environment 3 Political and Legal System 3 Five Year Plan 3 One Belt, One Road 4 Risk 4 Economic Environment 5 Market Size 5 Currency 5 FDI 6 Socio-Cultural Environment 8 Guanxi 8 Hofstede’s Model of National Culture 9 China Recommendation 11 India 12 Political Environment 12 Political and Legal System 12 Opportunity 13 Risk 13 Economic Environment 14 Market Size 14 Currency 14 FDI 15 Regional Trade Blocs 16 Risk 16 Socio-Cultural Environment 17 Socio-Demographic 17 Trust and Uncertainty Avoidance 17 Human Resources 18 India Recommendation 19 Reference 20 Appendix 25 Introduction In recent decades a global shift has arisen and revolutionized the way businesses operate as we move into a more integrated and interdependent global economy. Known as Globalization, the e-commerce industry has been the crux of such a radical metamorphoses of nations. National economies are no longer self-contained and independent. China, having one of the fastest growing e-commerce markets at 22.6% (iResearch, 2014) has entered the spotlight. Whilst...
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...IKEA, www.ikea.com, accessed 25/03/2012). The IKEA catalogue is printed in 52 editions with 25 languages, with a global distribution in excess of 160 million copies. IKEA sees the Far Asia as an emerging market still in its infant stage. Its number of retail outlets in Malaysia, Singapore, Taiwan, Beijing, Shanghai and Hong Kong are very small and comprises a mere 3% of the company's total sales. These stores were expected to be more successful in the near future. IKEA's imminent strategic expansion into this region exemplified its ambitions to dominate this emerging market. This Case Study illustrates how IKEA's ventures into China and Japan are laden with unique marketing challenges which it had not encountered before in other international markets. Read the attached case (Case Study: "IKEA: A Long March to the Far East" - Source: Oxford University Press) and answer the following questions; 1. Based on your analysis, what are the opportunities and challenges for IKEA in their market operations in (a) China; and (b) Japan? 2. Describe the market entry strategies that IKEA adopt in China and Japan respectively. 3. What are IKEA product, pricing, marketing communication and distribution decisions in the two Asian markets? To what extent these...
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...Business…………………………………………………..4 Expectation of Internet Customers……………………………………………..……4 Integration with the Existing business processes……………………………………..5 Analysis of Logistics Processes………………………………………………………5 Resources required for Website maintenance and support…………………………...5 Implementation Strategy……………………………………………………………………..6 Planning for Website designing……………………………………………………....6 E-marketing and Promotion strategy……………………………………………..…..7 E-supply Chain Management Strategy…………………………………………..…...7 Integration with the Existing System…………………………………………..…….8 Protection of Business………………………………………………………………..………8 Risk from E-business and measures to control…………………………..…………..9 Future Development in E-Business………………………………………………..…………9 Mobile technology and impact of XTML on E-business………………….…………9 Impact of supply chain integration and e-business on international competencies…10 Conclusion and Recommendation…………………………………………………………..10 References…………………………………………………………………………………..11 E-Business Strategy 3 Introduction With the increase enhancement in the field of technology, it has been considered essential by the businesses to implement such technology in their business processes. Further, the increasing demand from the customers regarding the better quality of products and services delivered to their doorstep has also necessitated for the businesses to implement the e-business strategy in their business processes. E-business which is commonly known as electronic...
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...Week Three Student Guide You explore the aspects of business contracts and these aspects’ application to business management. Discussion focuses on Internet contracts and international transactions. You conduct a simulation to evaluate contract performance requirements and solutions for if the contract is not upheld Contract Risk and Opportunities OBJECTIVE: Analyze legal issues arising from contract formation, performance, and remedies. Resources: Ch. 9–11, 16, 18, & 20 of Business Law: Legal Environment, Online Commerce, Business Ethics, and International Issues Content • Ch. 9: Nature of Traditional and E-Contracts o Introduction to Nature of Traditional and E-Contracts o Definition of a Contract o Sources of Contract Law o Objective Theory of Contracts o E-Commerce o Classifications of Contracts o Equity • Ch. 10: Agreement o Introduction to Agreement o Agreement o Offer o Special Offers o Termination of an Offer by Act of the Parties o Termination of an Offer by Operation of Law o Acceptance • Ch. 11: Consideration and Promissory Estoppel o Introduction to Consideration and Promissory Estoppel o Gift Promise o Contracts Lacking Consideration o Settlement of Claims o Equity: Promissory Estoppel • Ch. 16: Remedies for Breach of Traditional and E-Contracts o Introduction to Remedies for Breach of Traditional and E-Contracts ...
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...Creation in B2B E-Markets of China: A Practical Perspective Jing Zhao a, , Shan Wang b and Wilfred V Huang c a Center for International Cooperation in E-Business, College of Management China University of Geosciences, Wuhan 430074, P.R.China zhao5563@gmail.com b Department of Management Science, School of Business, Renmin University, 59 Zhong Guan Cun Avenue, Haidian District, Beijing 100872, P.R. China wangs7@gmail.com c College of Business, Alfred University, Alfred, NY 14802, U.S.A. fhuang@alfred.edu Abstract In China, the development of e-market has unique characteristics in the transactional processes and market mechanisms, which relate largely to the current industry structure, financial infrastructure and organization structure. This paper seeks to develop a conceptual model of B2B e-market value creation strategy, and can also be used to highlight the complexity of such activities for Chinese B2B e-markets. A process-oriented approach to modelling the value of e-market, rather than strategic position theory or a simple descriptive approach, is found to be more suitable and has been selected. The model consists of two dimensions: the e-commerce process and the controlling complexity. We apply the model in an actual Chinese B2B e-market (Alibaba.com). The crucial value creation activities and strategies in the four phases of e-commerce process are identified, and the controlling complexity of these activities is evaluated in the model. The model offers an effective...
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...Objectives 4.1 Differentiate between types of employment relationships and associated the legal considerations. 4.2 Differentiate between types of discriminatory issues and the associated legal considerations. 4.3 Determine methods for managing legal risk arising from regulatory compliance issues. Readings Read Ch. 31 of Business Law: Legal Environment, Online Commerce, Business Ethics, and International. Readings Read Ch. 32 of Business Law: Legal Environment, Online Commerce, Business Ethics, and International. Readings Read Ch. 33 of Business Law: Legal Environment, Online Commerce, Business Ethics, and International. Readings Read Ch. 43 of Business Law: Legal Environment, Online Commerce, Business Ethics, and International. Readings Read Ch. 44 of Business Law: Legal Environment, Online Commerce, Business Ethics, and International. Readings Read Ch. 45 of Business Law: Legal Environment, Online Commerce, Business Ethics, and International. Readings Read Ch. 46 of Business Law: Legal Environment, Online Commerce, Business Ethics, and International. Readings Read this week’s Electronic Reserve Readings. Participation Participate in class discussion. 2 Discussion Questions Respond to weekly discussion questions. DQ 1 due Day 3 and DQ 2 Due Day 5 2 Nongraded Activities and Preparation Podcast Listen to the Week Four podcast. Learning Team Reflection Check out the local and national news sources and find a current event that reflects what we...
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...Pennsylvania, Philadelphia, Pennsylvania, USA. Clement K. Wang is Associate Director (Research), NUS Enterprise Centre, National University of Singapore, Singapore. Introduction Story of Alibaba.com The development of e-commerce has been nothing short of explosive in recent years. Many believe that its growth and impact will only become more prevailing in the future. The sale of goods by US firms over the Internet, for example, is predicted to reach $1.3 trillion by 2003. By 2004, European enterprises are expected to have online sales of $1.6 trillion[1]. Companies in China, with the largest population in the world, are also probing this new source of revenue. The China Internet Network Information Center (CNNIC) issued an Annual Report in Internet Development in January 2000 that estimates that there were 22.5 million Internet users in China at the end of 2000[2]. A recent nationwide survey showed that China had more than 1,100 consumer related e-commerce Web sites by the end of the first quarter in 2000 (People’s Daily, 2000). Four Web companies, Sina.com, Sohu.com, China.com, and Netease.com have already been listed on the NASDAQ. However, the country’s e-commerce market is still in its infancy. We will begin with the story of Alibaba.com Among all the developing e-commerce businesses in China, Alibaba.com has received much attention, despite not yet being listed on the NASDAQ. Alibaba.com’s two biggest investors are US investment bank Goldman Sachs and Japanese Internet investor Softbank...
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...INCOTERMS® 2010 INCOTERMS AND THE EXPORTER International Commercial Terms, known as “Incoterms”, are internationally accepted terms defining the responsibilities of exporters and importers in the arrangement of shipments and the transfer of liability involved at various stages of the transaction. Incoterms do not cover ownership or the transfer of title of goods. It is crucial to agree on an Incoterm at the start of a negotiation/ quotation of a sale, as it will affect the costs and responsibilities involved in shipping, insurance and tariffs. The new Incoterms 2010 rules were revised by the International Chamber of Commerce and will become effective January 1, 2011. Four terms were eliminated (DAF, DEQ, DES, DDU) and two were added: Delivered at Place (DAP) and Delivered at Terminal (DAT). The modifications affect obligations, risk transfer, and cost sharing for the seller and buyer, resulting in better clarification and application of the eleven (11) Incoterms, and consistent with the way global trade is actually conducted since the last update in 2000. In any sales transaction, it is important for the seller and buyer to agree on the terms of sale and know precisely what is included in the sale price. Exporters should choose the Incoterm that works best for their company, but also be prepared to quote on other terms. See VEDP FastFacts- Responding to Inquiries Inexperienced exporters may want to use the Incoterm “Ex Works” (EXW), because this term carries the least burden...
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...INCOTERMS® 2010 INCOTERMS AND THE EXPORTER International Commercial Terms, known as “Incoterms”, are internationally accepted terms defining the responsibilities of exporters and importers in the arrangement of shipments and the transfer of liability involved at various stages of the transaction. Incoterms do not cover ownership or the transfer of title of goods. It is crucial to agree on an Incoterm at the start of a negotiation/ quotation of a sale, as it will affect the costs and responsibilities involved in shipping, insurance and tariffs. The new Incoterms 2010 rules were revised by the International Chamber of Commerce and will become effective January 1, 2011. Four terms were eliminated (DAF, DEQ, DES, DDU) and two were added: Delivered at Place (DAP) and Delivered at Terminal (DAT). The modifications affect obligations, risk transfer, and cost sharing for the seller and buyer, resulting in better clarification and application of the eleven (11) Incoterms, and consistent with the way global trade is actually conducted since the last update in 2000. In any sales transaction, it is important for the seller and buyer to agree on the terms of sale and know precisely what is included in the sale price. Exporters should choose the Incoterm that works best for their company, but also be prepared to quote on other terms. See VEDP FastFacts- Responding to Inquiries Inexperienced exporters may want to use the Incoterm “Ex Works” (EXW), because this term carries the least burden...
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...International Journal of Humanities and Social Science Vol. 2 No. 4 [Special Issue – February 2012] FACTORS INFLUENCING CONSUMERS’ ATTITUDE TOWARDS E-COMMERCE PURCHASES THROUGH ONLINE SHOPPING Zuroni Md Jusoh Goh Hai Ling Centre of Excellent for Sustainable Consumption Research Department of Resource Management and Consumer Studies Faculty of Human Ecology Universiti Putra Malaysia 43400 Serdang, Selangor Malaysia. Abstract Online shopping is the process of buying goods and services from merchants who sell on the internet. Shoppers can visit web stores from the comfort of their homes and shop as they sit in front of the computer. The main purpose of this study is to determine the factors influencing consumers’ attitude towards e-commerce purchases through online shopping. The study also investigate how socio-demographic (age, income and occupation), pattern of online buying (types of goods, e-commerce experience and hours use on internet) and purchase perception (product perception, customers’ service and consumers’ risk) affect consumers’ attitude towards online shopping. Convenience sampling method was conducted in this study and the sample comparison of 100 respondents in Taman Tawas Permai, Ipoh. Data were collected via self-administered questionnaire which contains 15 questions in Part A (respondents’ background and their pattern of using internet and online buying), 34 questions in Part B (attitude towards online purchase) and 36 questions in Part C (purchase perception...
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...Week Four Student Guide This week, you address the concepts of employment and regulatory risk as a means to distinguish between the employee-employer relationship and the associated legal considerations. As an example, you consider legal considerations such as discrimination in the workplace. You also study regulatory compliance issues for an organization, as well as the associated business consequences. The readings focus on workers’ compensation, occupational safety, and other worker protection laws, with a specific attention to the Family and Medical Leave Act. This week also covers the collective bargaining agreements and labor law, as well as several laws and decisions a company must make regarding these labor law issues. In addition, you examine equal opportunity in employment and Title VII, including what comprises this significant law. You review regulatory laws, environmental protection and global warning, as well as antitrust laws and unfair trade practices. The readings focus on introductory concepts and the laws that support these concepts. Employment and Regulatory Risk OBJECTIVE: Differentiate between types of employment relationships and the associated legal considerations. Resources: Ch. 31 & 32 of Business Law: Legal Environment, Online Commerce, Business Ethics, and International Issues Content • Ch. 31: Employment, Worker Protection, and Immigration Laws o Introduction to Employment, Worker Protection, and Immigration Laws ...
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...Course No Course Name University Name Instructor’s Name Date Host Foreign Country’s Concern in Expansion Plan Foreign nations faces various obstacles in adoption of new business ranging from infrastructural issues of technological advancement, network problem, lack of skilled resources, etc; investment issues in inter-organization communication, network establishment, etc; security and privacy issues of customer information in transaction; government regulations for legal protection of consumer rights; logistics issues of distribution; lack of physical and social interaction in virtual environment for purchase; and returning policy of traders (OECD, 2004). Although infrastructure and deregulation governs the success of commerce, transactional trust is mandatory for encouraging the participants to pursue the shopping from foreign firms (Oxley & Yeung, 2001). Socio-cultural characteristics of these countries also raises concern of institutional trust in the new business as substitute for social milieu lacking in personal touch or localization of product (Efendioglu, Yip, & Murray, 2004). Temporal and spatial separation requires radical shift in consumer pattern to create trust between parties involved in transaction occurring in trading based on agreed contract. Delivery of products to the increasing number of customers in new system brings challenges for seller to keep the promises of order fulfillment in committed time. Logistics capability determines the delivery...
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...BASEL III NORMS AND INDIAN BANKING: ASSESSMENT AND EMERGING CHALLENGES C.S.Balasubramaniam Professor, Babasaheb Gawde Institute of Management Studies, Mumbai Email: balacs2001@yahoo.co.in ABSTRACT Banking operations worldwide have undergone phenomenal changes in the last two decades since 1990s. Financial liberalization and technological innovations have created new and complex financial instruments/products have increased their role and turnover in financial markets and have rendered banking operations vulnerable to a variety of risks. The financial crisis episodes surfaced since 2006 have highlighted this paradox to a number of central banks operating in different countries and RBI and Indian banking sector is no exception to this phenomenon. Basel framework has been drawn by Bank for International Settlements (BIS) in consultation with supervisory authorities of banking sector in fifteen emerging market countries with the basic objective of advocating codes of bank supervision and promoting financial stability amidst economic crises. This research paper is divided in three parts .The opening part attempts to briefly describe the changes in the banking scenario since 1991 reforms and the necessity of introducing Basel III to the Indian Banking sector. Part II presents the Basel standards framework and explains why the transition from Basel II to Basel III norms has become necessary to bring in measures and safety standards which would equip the banks to become more resilient...
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...IEEE International Conference on e-Business Engineering A CASE STUDY: ADOPTION OF INFORMATION TECHNOLOGY IN E-BUSINESS OF UNITED ARAB EMIRATES Fahim Akhter College of Information Technology Zayed University Dubai - United Arab Emirates fahim.akhter@zu.ac.ae Keywords: Abstract: Electronic Commerce, Internet, Online Shopping, United Arab Emirates This research conducted to identify factors that affect e-commerce adoption among people of United Arab Emirates. The focus of this research is to discover at what extent security and privacy factors contribute to the adoption of e-commerce. This study has been designed to explore why online shopping is growing so fast among some users, and so slowly among others. 2051 questionnaires were distributed by using different media such as email and Internet to the subjects and received back only 21% questionnaires from respondents. The result shows that all of the independent variables played important roles in determining the adoption of e-commerce and created a gap between users who are adopting e-commerce and those who have not. The finding also shows that there are two significant factors, making an impact on the adoption of e-commerce, which are the user’s educational background and their understanding of security features implemented by the vendors. 1 INTRODUCTION The United Arab Emirates (U.A.E) has made major efforts to establish itself as an e-commerce hub in the Middle East region and established itself on a par...
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