International Business: A Comprehensive Overview
International Business
Three Realms of International Business
International trade: The exchange of goods and services across national borders. Key aspects include:
- Transportation
- Technology
- Tariffs
International production: Involves firms operating in multiple countries. Two primary methods include:
- Non-equity contracts: Such as foreign outsourcing.
- Foreign Direct Investment (FDI): Where a firm owns at least 10% of a company in another country.
International finance: Encompasses the exchange of financial
Read MoreSales and Marketing Techniques
ITEM 2: PREPARATION OF TENDER
2.1 Analysis of Requirements
You must obtain all necessary information to argue for selling the product or service. Consider the functions, characteristics, and needs of the prospective buyer. The communication process is central to this phase. The communication between the issuer (in this case, you) and the prospect (the potential buyer) is bidirectional, not unidirectional.
Obtaining information is achieved through two types of questions:
- Open questions: These allow the
Money Demand, Creation, and the Role of Central Banks
Money Demand
People want to have a portion of their cash (money demand) for various reasons, among them:
- Transactions: To pay for purchases they make. The quantity demanded for this reason mainly depends on the level of income: the higher the income, the more consumption and therefore greater demand for money (and lower income otherwise).
- Financial Asset: Money has value, and the public may prefer to keep part of their wealth in the form of money, especially in times of uncertainty. Instead of having
Understanding Post-Closing Trial Balances and Accounting Cycles
Post-Closing Trial Balance Accounts
Identify which of the following accounts would appear in a post-closing trial balance.
| Interest Payable |
| Service Revenue |
| Depreciation Expense |
| Equipment |
| Dividends |
| Accumulated Depreciation—Equipment |
Closing Entries in Accounting
Closing entries are necessary for:
| permanent accounts only. |
| both permanent and temporary accounts. |
| temporary accounts only. |
| permanent or real accounts only. |
Closing entries are journalized and posted:
| at management’s discretion. |
| before the financial statements |
Understanding Business Organization, Localization, and Capital Planning
1.2.3 Partnership Firms
Partnership firms are the second form of commercial organization. They came into existence because of the limitations of the sole trading concern. As businesses grew and developed, they also became more complicated. It became increasingly difficult for a single person to handle and manage the entire business alone. As the scale of business grew, the need was felt for large capital and more efficient and professional management. It was not possible for a sole trading concern
Read MorePrinciples and Practices of Management
Importance of Management
From our studies so far we have understood the concepts viz. management and administration. Business management is very important in any business. This importance will be made clearer from the following points.
Possibility of Successfully Facing World Competition
Today we live in an age of razor-sharp competition. It is essential to reduce the cost of production for survival in this cut-throat competition. It is necessary to take care of the utility and quality of products
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