Business at national as well as international level is all about taking risks, nothing is certain and an entrepreneur has to take chances or risks to earn profit. These risks can at times give fruitful result and at times may lead to losses. Given below are some of the major risks faced in international business…
Modes of entry into international markets are the Internet, Licensing, International Agents, International Distributors, Strategic Alliances, Joint Ventures, Overseas Manufacture and International Sales Subsidiaries. ● Licensing − Licensing is where the own organization charges fee or royalty for the use of the technology or brand. ● International agents and distributors − Agents are individuals or organizations those who deal with business/marketing…
Business at an international level is also affected by various factors. These can be due to the physical location of the country or due to some political matters in the country. Some of the major factors in business are as follows − ● Geographical factors − Many different geographical factors like the geographical size, the climatic challenges occurred…
The International Business principles stresses on the following − ● Creating awareness of the interdependency of one nation’s political policies and economic practices on another nation or nations. ● Learning to improvise international business relationships by using appropriate communication strategies and techniques. ● Acknowledging the global business environment, the relationship the nation’s share through their cultural, political, legal,…
International business includes commercial transactions such as private, governmental, sales, investments, logistics, and transportation that occurs between two or more countries apart from their political boundaries. Generally, such transactions are undertaken by private sector companies to generate profit. The government sector also undertakes them to earn profit as well as for political reasons. The term…
Some of the essential policy measures were declared and procedural simplifications were undertaken to opt for the above stated objectives. Following are some of the policy measures − Liberalization of Industrial Licensing Policy A list of goods demanding compulsory licensing is reviewed on an ongoing regular basis. Currently, only six industries are monitored under compulsory…
In April 1956, the Indian Parliament adopted Industrial Policy Resolution of 1956 (IPR 1956). It is marked as the first comprehensive documented statement on industrial development of India. It systematizes three different groups of clearly defined industries. The policy of 1956 regulated to design the basic economic policy for a very long time. The Five-Year…
It enlists the rules and procedures that will monitor the growth and pattern of industrial activity. The industrial policy is neither fixed nor flexible. It is constructed, modified and further modification is done according to the changing situations, requirements and perspectives of developments. The major objectives of industrial policy are discussed below. Rapid Industrial Development…
The role played by the government in the process of developing industries are defined as a set of statements known as Industrial policy. The policy also defines the role played by different large and small scale industries and the level of public and private intervention. The set of objectives for industrial development along with the…
The major role of the society in entrepreneurship is support. Entrepreneurs contribute to the society in the following ways − ● Business yields and allots products and services to meet certain public requirements. Business has to be very flexible and frequent research on consumer demands should be done to increase profit. ● Entrepreneurs create job opportunities. Income…