Podcast
Questions and Answers
Differentiate between a Merchant Exporter and a Manufacturer Exporter, highlighting the primary role each plays in international trade.
Differentiate between a Merchant Exporter and a Manufacturer Exporter, highlighting the primary role each plays in international trade.
A Merchant Exporter focuses on sourcing products from various manufacturers and exporting them under their own name, essentially acting as a trader. A Manufacturer Exporter, on the other hand, manufactures their own products and directly exports them.
Explain how the Foreign Trade Policy (FTP) impacts a company's decision to engage in international business, including the role of potential incentives or restrictions.
Explain how the Foreign Trade Policy (FTP) impacts a company's decision to engage in international business, including the role of potential incentives or restrictions.
The FTP outlines guidelines, incentives, and restrictions related to export and import activities. It can influence a company's profitability and strategic decisions by offering benefits like duty exemptions or imposing limitations through tariffs and quotas.
Describe the significance of proper documentation in export and import processes, and provide two examples of essential documents typically required.
Describe the significance of proper documentation in export and import processes, and provide two examples of essential documents typically required.
Proper documentation ensures legal compliance, smooth customs clearance, and reduces the risk of delays or penalties. Examples of essential documents include a commercial invoice and a packing list.
Outline the initial steps a business should take to begin exporting goods, assuming they have already identified a potential product and target market.
Outline the initial steps a business should take to begin exporting goods, assuming they have already identified a potential product and target market.
A company wants to start exporting electronic components. What registrations/licenses will they require to legally start exporting, and who are the relevant authorities involved?
A company wants to start exporting electronic components. What registrations/licenses will they require to legally start exporting, and who are the relevant authorities involved?
Flashcards
International Business
International Business
Business transactions crossing national borders, including trade, investment, and other activities.
Foreign Trade Policy (FTP)
Foreign Trade Policy (FTP)
A set of guidelines and regulations governing a country's exports and imports.
Export and Import
Export and Import
Selling goods/services to another country (Export) and buying goods/services from another country (Import).
Export/Import Documentation
Export/Import Documentation
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Merchant Exporter
Merchant Exporter
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Study Notes
- International business encompasses trade and investment activities conducted across national borders.
- Foreign Trade Policy (FTP) governs a nation's import and export regulations and guidelines.
- Exporting involves selling goods or services to another country.
- Importing involves purchasing goods or services from another country.
- Initiating export and import activities necessitates obtaining appropriate licenses and preparing specific documentation.
- Selecting suitable products is crucial for success in international markets.
- Various registration authorities oversee and regulate international trade operations.
Types of Exporters
- Merchant Exporter: Engages in exporting goods produced by other manufacturers.
- Manufacturer Exporter: Exports goods that it produces directly.
- Service Exporter: Provides services to customers located in other countries.
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Description
Explore the fundamentals of international business, including trade and investment across borders. Learn about Foreign Trade Policy (FTP), exporting, importing, and the necessary licenses and documentation. Discover different types of exporters: merchant, manufacturer, and service exporters.
