Meaning and implications - Globalisation of markets and production – The emerging globaleconomy - Drivers of Globalisation. Modes and entry strategies of international business –the globalisationaldebate: arguments for and against – trends in international trade. Differences between domestic and internationalbusiness.
Cultural aspects – values and norms – social structure – religious andethical systems – language – education – implications of cultural differences on business. International businessenvironment – Political and legal factors – political systems – legal systems, International business environment– Economic factors – the determinants of economic development.
Theory of Mercantilism - Absolute advantage – Comparative advantage –Hecksher – Ohlin theory – The new product life cycle theory – The new trade theory – Porter‟s diamond model– implications for international business.
Theory of Mercantilism - Absolute advantage – Comparative advantage –Hecksher – Ohlin theory – The new product life cycle theory – The new trade theory – Porter‟s diamond model– implications for international business.
Trading Blocks – nature and levels of integration – arguments for and against regionalintegration - Trading blocks – European Union, ASEAN, APEC, NAFTA, SAARC, ANDEAN PACT andMERCOSUR.
Organisation, design and structures – head quarters and subsidiary relations inmultinational corporations.
functions – nature of foreign exchange market – the trading mechanism –exchange rate determination – balance of trade – stability of exchange rate - currency convertibility
Funding facilities and strategies of IMF and World Bank -Expatriation and Repatriation. Ethical dimensions in International Business.