International Trade and Global Business

International Trade Policies

• Tariffs: Taxes imposed on imported goods to protect domestic industries and raise revenue
• Quotas: Restrictions on the quantity of goods that can be imported
• Subsidies: Government payments to domestic industries to support exports
• Trade Agreements: Bilateral or multilateral agreements to reduce trade barriers and promote trade
• WTO (World Trade Organization): International organization that promotes free trade and resolves trade disputes

Global Market Analysis

• Market Research: Gathering data to understand consumer behavior, preferences, and needs
• Market Segmentation: Dividing a market into distinct groups based on demographics, needs, and preferences
• Competitive Analysis: Analyzing competitors' strengths, weaknesses, and strategies
• Market Entry Strategies: Choosing the best approach to enter a new market (e.g., exporting, joint ventures, direct investment)

Foreign Exchange Markets

• Exchange Rates: Prices of one currency in terms of another
• Spot Rate: Current exchange rate
• Forward Rate: Exchange rate for a future date
• Currency Appreciation: Increase in value of a currency
• Currency Depreciation: Decrease in value of a currency

Global Supply Chain Management

• Supply Chain: Network of organizations, people, and activities involved in producing and delivering a product
• Logistics: Management of the flow of goods, services, and information from raw materials to end customers
• Inventory Management: Managing inventory levels to minimize costs and maximize service levels
• Risk Management: Identifying and mitigating risks in the supply chain

Cross-Cultural Management

• Cultural Intelligence: Ability to understand and adapt to different cultural environments
• Cross-Cultural Communication: Effective communication across cultural boundaries
• Cultural Differences: Understanding and respecting differences in values, norms, and customs
• Global Team Management: Managing diverse teams across cultures and time zones

Regional Trade Agreements

EU (European Union)

• Single Market: Free movement of goods, services, capital, and people among member states
• Customs Union: Common external tariffs and no internal tariffs
• Common Agricultural Policy: Agricultural subsidies and support

NAFTA (North American Free Trade Agreement)

• Free Trade: Elimination of tariffs and non-tariff barriers among the US, Canada, and Mexico
• Investment Protection: Protection of investments among member countries

SAARC (South Asian Association for Regional Cooperation)

• Regional Cooperation: Economic cooperation among eight South Asian countries
• Free Trade Area: Elimination of tariffs and non-tariff barriers among member states

ASEAN (Association of Southeast Asian Nations)

• ASEAN Free Trade Area: Elimination of tariffs and non-tariff barriers among member states
• ASEAN Economic Community: Single market and production base among member states

BRICS (Brazil, Russia, India, China, and South Africa)

• Emerging Markets: Rapidly growing economies with large markets and resources
• Economic Cooperation: Cooperation on economic issues among member countries