...ADEGBENRO ELEWADE MIB 34 LEGAL ENVIRONMENT OF INTERNATIONAL BUSINESS. QUESTION 1 The following rules and principles will be used to analyse if this new trade policy is permissible. WORLD TRADE ORGANISATION RULES AND PRINCIPLES - * Trade discrimination is forbidden- There is a trade discrimination in this policy by subjecting Mediterraneo and Equatoriana to a tariff and excluding Oceania from the tariff policy and also this trade discrimination occurred because Oceania and Pacifica are members of a customs union modeled on and using the same rules at the European Union * Each state has to afford most-favored-nation status to all other WTO member states equally- Pacifica only offered most-favored-nation-status to only Oceania, instead of offering this status also to the other WTO members. National Treatment Rule * A WTO member state must treat imports equally with its own domestic products once the imports are inside its borders- Pacifica subjected foreign cars to foreign sales tax at the point of sales but excluded cars manufactured in Pacifica from this policy, this should not be done because the national treatment principle states that foreign goods should be treated as domestic goods, so Pacifica should not subject this foreign goods to foreign sales tax since also the domestic goods are not subjected to this tax. * Products must be treated equally vis-à-vis their content; they may not be discriminated against because of the way in which they were made-...
Words: 1376 - Pages: 6
...ADEGBENRO ELEWADE MIB 34 LEGAL ENVIRONMENT OF INTERNATIONAL BUSINESS. QUESTION 1 The following rules and principles will be used to analyse if this new trade policy is permissible. WORLD TRADE ORGANISATION RULES AND PRINCIPLES - * Trade discrimination is forbidden- There is a trade discrimination in this policy by subjecting Mediterraneo and Equatoriana to a tariff and excluding Oceania from the tariff policy and also this trade discrimination occurred because Oceania and Pacifica are members of a customs union modeled on and using the same rules at the European Union * Each state has to afford most-favored-nation status to all other WTO member states equally- Pacifica only offered most-favored-nation-status to only Oceania, instead of offering this status also to the other WTO members. National Treatment Rule * A WTO member state must treat imports equally with its own domestic products once the imports are inside its borders- Pacifica subjected foreign cars to foreign sales tax at the point of sales but excluded cars manufactured in Pacifica from this policy, this should not be done because the national treatment principle states that foreign goods should be treated as domestic goods, so Pacifica should not subject this foreign goods to foreign sales tax since also the domestic goods are not subjected to this tax. * Products must be treated equally vis-à-vis their content; they may not be discriminated against because of the way in which they were made-...
Words: 1376 - Pages: 6
...al The cultural, political and legal environment of international business Abstract A study of the elements of a domestic market and those of an international market may reveal many crucial differences, especially political, legal and cultural differences. For example, the "rules of the game” of business in the international market are diverse, changeable and often unclear. The international firm may have to content with different legal and ethical standards in different host countries. In this paper the parameters of the political, legal, and the cultural environment of international business will be considered, The paper also relates how political, legal, and cultural incidents or situations may become roadblocks to the smooth operation of business ventures in foreign countries. Misunderstandings and breakdown in communication often arise from differences in perception by executives who are not from the same cultural, legal and political background. International investors need to know what elements in a foreign culture have the greatest influence over consumption patterns in general and particularly the consumption behaviour to their specific product. By reflecting on the language, religion, demography, climate, values and beliefs, education, labour, roles of women, family, ethnic groups and other similar elements, the international business person will be able to, not only participate in the international economy with a better perception of the situation, but also be able...
Words: 6545 - Pages: 27
...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...
Words: 594 - Pages: 3
...10/27/2015 International Business Environment LECTURE 5 Global Business Environment 1 10/27/2015 Political Risks Political risks are any changes in political environment that may adversely affect the value of a firms’ business activities. It could be divided into: 1. Ownership Risk through confiscation and expropriation. 2. Operating risk where operations of a firm and safety of its employees are threatened through changes in law, environmental standard, tax codes, terrorism and others. 3. Transfer risk in which government interferes with a firms ability to shift funds into and out of the country. Economic Environment and International Business Economic System is the way a society decides to use and distribute its resources. 1. Who can own property in this system? 2. Who controls and distributes the resources in this system? 2 10/27/2015 Types of Economic Systems 1. Market Economy In pure market economy, all productive activities are privately owned , as opposed to being owned by the state. Price and production are determined by the interaction of demand and supply. 2. Command Economy or Planned Economy In pure command economy, all productive activities are state owned , as opposed to being owned by the individual. In pure command economy, the government plans the goods and services that a country produces, the quantity, and prices at which they are sold. 3. Mixed Economy Capitalism/Free Enterprise/Free Market ...
Words: 660 - Pages: 3
...week introduces you to the fundamental principles of the legal system, the importance of our Constitution, and an analysis of the court system. The readings in this area cover the concepts that define law and the thoughts that help shape jurisprudence along with its history. The Federal Court, Supreme Court, and the jurisdiction of the courts are also covered. Constitutional law is covered from the perspective of business. This week also provides an introduction to the various forms of business. Small businesses, entrepreneurs, and general partnerships are explored. You discuss how a corporation is formed and how it can be financed. Finally, you study limited liability companies and limited partnerships, as well as franchises and special forms of business. This week further introduces you to the concept of alternative dispute resolution as a method for resolving disputes outside traditional litigation. After first looking at the litigation process, you are then introduced to arbitration, negotiation, mediation, conciliation, minitrial, fact-finding, and the use of a judicial referee. The Legal System and the Legal Forms of Business OBJECTIVE: Explain the major components of the legal system. Resources: Ch. 1, 2, & 4 of Business Law: Legal Environment, Online Commerce, Business Ethics, and International Issues Content • Ch. 1: Legal Heritage and the Information Age o Introduction to Legal Heritage and the Information Age o What Is Law? ...
Words: 1106 - Pages: 5
...International Business Environment Name: University: Course Title: Instructor: Date: Executive Summary International business environment changes in the last couple of years have had a significant impact on the sectors of the world economy more so the airline sector, with this in mind the term paper focused on the impact of changes in the international business environment on the airline industry. International business environment is viewed as the most contexts for international business and comprehending how forces in this environment impact the business operations is the difference between business failure and success. To this end, the research established various changes in the business environment that have taken place in political, economic, financial and socio-cultural circles. Political changes especially the Arab spring have had far reaching impact on the airline sector with fall in passenger numbers to these destination as well as the rise in fuel prices negatively impacting the growth of the industry, political instability in other areas as well as laws regulating the airline sector have been on the rise as countries seek to protect local airlines, the economic crisis slowed down the growth of the sector but with the recovery process on track, the airline industry is expected to grow into the foreseeable future, issues such a new taxes for example carbon tax in Europe, the unstable foreign exchange market and inflationary pressures...
Words: 3732 - Pages: 15
...Addressing International Legal and Ethical Issues LAW/421 Contemporary Business Law Addressing International Legal and Ethical Issues With the increasing globalization of business, organizations are finding themselves in an global environment full of legal and ethical challenges. In some international environments, the very legitimacy of a company doing business in a specific country can be a challenge. International transactions and dispute resolution require both an understanding of the law and sensitivity to foreign culture, formal and information power structures and decision-making approaches. This paper will ethical and legal issues involved in resolving legal disputes in international transactions. From an ethical point of view, an organization seeking to expand globally should first consider whether they should conduct business in countries after researching the specific country’s sociopolitical environment. Corrupt public officials, participating in racial or gender discrimination, polluting the environment or violate the human rights of their citizens through slave or child labor or inhuman working conditions (Trevino & Nelson, 2011) is considered corporate culture in some countries. For example, Foxconn is a multinational electronics contractor for major American, European, and Japanese electronic companies who has been involved in several controversies relating to how it manages employees in China. It is claimed that Foxconn uses underage workers and...
Words: 653 - Pages: 3
...MGT 106 (Credit hours 3) International Business BBA, Third Year, Sixth Semester Course Objective The course aims to help the students in understanding the basics of international business and its environment, and develop the analytical skills required to compete effectively in this environment. 1. Overview of Global Business 4 hours Meaning of international business and globalization, drivers of globalization, overview of changing global picture: declining trade barriers and change in communication, information and transportation technologies. 2. International Trade Theories 7 hours Adam Smith’s Theory of Absolute Advantage, David Ricardo’s theory of comparative advantage, Heckscher-Ohlin’s theory of factor endowment, Raymond Vernon’s product life-cycle theory, new trade theory based on economies of scale, theory of national competitive advantage: Porter’s diamond. 3. Global Business Environment 10 hours Political, Economic and Legal Environment Political systems: individualism vs. collectivism; democratic vs. totalitarian, legal system: property rights, protection of intellectual property, product safety requirements, economic environment: market economy, command economy & mixed economy, interconnection of political, legal and economic system followed by a country, impact of differences in system on international business. Cultural Environment Meaning of culture, values and norms, determinants of culture: social structure...
Words: 420 - Pages: 2
...The Political, Legal, and Technological Environment Learning Objectives and Chapter Summary |1. |INTRODUCE the basic political systems that characterize regions and countries around the world and offer brief examples of | | |each and their implications for international management. | | | | | |The global political environment can be understood via an appreciation of ideologies and political systems. Ideologies, | | |including individualism and collectivism, reflect underlying tendencies in society. Political systems, including democracy| | |and totalitarianism, incorporate the ideologies into political structures. There are fewer and fewer purely collectivist or| | |socialist societies, although totalitarianism still exists in several countries and regions. Many countries are | | |experiencing transitions from more socialist to democratic systems, reflecting related trends discussed in Chapter 1 toward| | |more market-oriented economic systems. | |2. |PRESENT an overview of the legal and regulatory environment in which MNCs operate worldwide, and highlight differences in | | |approach to different legal and regulatory issues...
Words: 4480 - Pages: 18
...Module 1 - Identifying Global Business Opportunities Module 2 - Analyzing International Competitors Module 3 - Assessing the Economic/Geographic Environment Module 4 - Assessing the Social- Cultural Environment Module 5 - Assessing the Political Legal Environment Module 6 - Selecting a Global Company Structure Module 7 - Financing Sources for Global Business Operations Module 8 - Creating a Global MIS (Management Information System) Module 9 - Identifying Human Resources for Global Business Activities Module 10 - Managing International Financial and Business Risks Module 11 - Product Target Market Planning for Foreign Markets Module 12 - Designing a Global Distribution Strategy Module 13 - Planning a Global Promotion Strategy Module 14 - Selecting an International Pricing Strategy Module 5 - Determining Organizational Financial Results Module 16 - Measuring International Business Success ...
Words: 461 - Pages: 2
...To be completed by the student To be completed by the markers Module Name and code First Marker’s name (equivalent to the signature) Environment of Business BUZB400 Student ID (UoW) Student ID (WIUT) Deadline date Individual assignment Group assignment 00002655 14.11.2013 Second Marker’s name (equivalent to the signature) For Registrar’s office use only (hard copy submission) COURSEWORK SUBMISSION COVER PAGE Submission instructions Please note that all work must be submitted electronically unless instructed otherwise. For online submission instructions refer to: http://intranet.wiut.uz/Shared%20Documents/Forms/AllItems.aspx - Coursework online submission instructions.doc For hardcopy submission instructions refer to: http://intranet.wiut.uz/Shared%20Documents/Forms/AllItems.aspx - Coursework hard copy submission instructions.doc Feedback To be completed by markers Assessment criterion and/or learning outcome 1. 2. 3. Marker’s comments and second marker’s comments if appropriate Westminster International University in Tashkent 2013-2014 Academic Year, Semester 1 Written Assignment Environment of Business BUZB400 ID #00002655 Table of Contents Written Assignment on Happiness plc ...................................................................................................... 2 Reference List ...........................................................................................................
Words: 2482 - Pages: 10
...Sem. 9.30 a.m. - 12.30 p.m. 10MBA21 – Quantitative Techniques for Management – 10MBA22 – Indian Business Environment – 10MBA23 – Financial Management – 10MBA24 – Business Law – III Sem. 2.00 p.m. - 5.00 p.m. – – – 10MBA31 – Strategic Management – 10MBA32 – Management Accounting & Control Systems – 10MBA33 – Operations Management IV Sem. 2.00 p.m. - 5.00 p.m. – – 10MBA41 – Change and Knowledge Management – 10MBA42 – Entrepreneurial Development – 10MBA43 – Supply Chain Management – 10MBAMM415 – Rural Marketing 10MBAFM425 – Project Appraisal Planning & Control 10MBAIS435 – Multimedia Applications Programming Using VB 10MBAHR445/10MBAIB465 – International Human Resource Management 10MBAPM455 – Project Management 10MBABF475 – Treasury & Risk Management 28/06/2012, Thursday – 10MBA25 – Human Resource Management – 29/06/2012, 10MBA15-Management Information Systems Friday – 10MBAMM311– Business Marketing 10MBAFM321– Advanced Financial Management 10MBAIS331– Object Oriented Programming Systems Using Java 10MBAHR341– Organizations Design & Organization Development 10MBAPM351– Materials Management 10MBAIB361– International Business Environment 10MBABF371– Principles & Practice of Banking & Insurance – 02/07/2012, Monday – 10MBA26 – Business Research Methods – 10MBAMM416 – Strategic Brand Management 10MBAFM426/10MBAIB466/10MBABF476 – International Financial Management...
Words: 1422 - Pages: 6
...International Legal and Ethical Issues LAW/421 December 18,2012 International Legal and Ethical Issues Our society is involved in a global economy that deals with many countries, cultures, business ethics, monetary differences, and government policies. International transactions are made daily through legal channels that are set up to provide a smooth transition between entities. Provisions of legal guidelines assist in providing the parties parameters of acceptable and unacceptable behavior and consequences in respect to legal disputes of transactions. International transactions may include joint ventures, contract negotiations, employee wage compensation, enforcement of corporate contracts, merger and acquisitions, complex litigation, taxes, securities, and many more corporate decisions. The complexity of International law is best served with counsel that is knowledgeable on international affairs, and government policies. Bilingual counsel in several languages is a great asset to the business team as this provides translation effectiveness for a fairer representation in legal matters. International law is a very different forum of law due to the fact it does not have a governing body or set of laws to follow. International law is negotiated between different countries and the policies and laws of each country to meet a satisfactory line of agreement between the two entities. International law encompasses a collection of agreements, treaties, charters, and protocols...
Words: 715 - Pages: 3
...Syllabus of International Sale of goods (2012-2) NAME OF COURSE International Sale of Goods NATURE OF COURSE Compulsory PREREQUISITES AND BACKGROUND KNOWLEDGE Cultures of international business, business writing in English, import and export laws, international sale of goods, principles of civil law and necessary basics of legal knowledge relating to contract , maritime transportation, insurance, corporate law, partnership, and agency. STUDENTS Law school students LECTURING HOURS 40 hours TUTORING HOURS By appointment during Monday mornings 9AM-12AM and Wednesday mornings 9AM-12AM in the professor’s office. LECTURER’S INFO – Dr. Phil Cameron Office venue: A201 Office telephone：+86 (21) 6770 3307 E-mail：philcameron@shift.edu.cn COURSE DESIGN This course focuses on integrating the laws, rules and legal principles for the international trade of goods, including practical lawyering skills, business procedures, identifying risks, managing problems, and creating resolutions for common legal issues. OBJECTIVES A. To understand the basic the laws, rules and legal principles for the international trade of goods, as well as, develop some practical lawyering skills B. To cultivate academic quality and business skills, such as: 1) the ability to examine and resolve legal issues resulting in practical business solutions, along with the application of legal theory 2) an understanding of the rational, moral and jurisprudence basis of relevant rules as applied to current legal matters, and also...
Words: 1009 - Pages: 5
