Description

SESSION	JULY – AUGUST 2024
PROGRAM	MASTER OF BUSINESS ADMINISTRATION (MBA)
SEMESTER	III
COURSE CODE & NAME	DIBM304 EXPORT-IMPORT MANAGEMENT

 

 

Assignment Set – 1

 

1. Explain the key motives behind the expansion of businesses into international markets. How do these motives influence the strategies and operations of an international business firm?

Ans 1.

Businesses expand into international markets to unlock growth opportunities, reduce risks, and access new resources. These motives stem from the need to stay competitive in an increasingly globalized world. Below are the key motives in detail:

Key Motives for Expansion

1. Market Expansion and Revenue Growth: International markets offer vast opportunities for revenue generation. Saturation or limited growth potential in domestic markets encourages firms to explore foreign markets. For instance, consumer product companies like Procter & Gamble target emerging economies for

 

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2. Discuss the steps involved in establishing an Export-Import firm.

Ans 2.

Setting up an Export-Import (EXIM) firm requires careful planning, legal compliance, and strategic execution. The process involves several crucial steps to ensure the firm is well-prepared to operate in international trade. Below is a detailed breakdown of these steps:

1. Business Planning and Market Research

The foundation of a successful EXIM firm is thorough market research and planning. This includes:

• Identifying potential products or services for trade.

 

 

3. Describe the role of ‘Export Documentation’ in international trade.

Ans 3.

Export documentation is a cornerstone of international trade, ensuring smooth, efficient, and legally compliant transactions between exporters, importers, and regulatory authorities. These documents serve as proof of compliance with international trade laws, contractual obligations, and the terms and conditions agreed upon by all parties involved. Export documentation facilitates communication, minimizes risks, and streamlines the movement of goods across borders.

One of the primary roles of export documentation is to establish the ownership and

 

 

Assignment Set – 2

 

 

4. Explain the process and significance of ‘Bill of Entry’ in import transactions.

Ans 4.

The bill of entry is a critical document in import transactions, serving as a declaration to customs authorities regarding the goods being imported. It plays a pivotal role in ensuring that the import process adheres to legal requirements and facilitates the clearance of goods from customs. Without this document, imported goods cannot be processed or released, making it indispensable for international trade.

The process of preparing and submitting a bill of entry begins once the goods arrive at the

 

 

5. What is the role of Electronic Data Interchange (EDI) in international trade? Explain the objectives and components of an EDI system.

Ans 5.

Electronic Data Interchange (EDI) plays a transformative role in international trade by enabling businesses to exchange documents electronically in standardized formats. This technology eliminates the need for paper-based processes, streamlining communication between trading partners, and enhancing the efficiency of global trade operations. By automating the exchange of critical trade documents like invoices, purchase orders, shipping

 

 

6. Discuss the various types of insurance relevant to the export-import business, how do these insurances mitigate risks in international trade?

Ans 6.

Insurance is an essential element of the export-import business, protecting stakeholders from the various risks inherent in international trade. These risks include damage to goods, financial losses, delays, and legal liabilities. By transferring these risks to insurance providers, businesses can safeguard their operations and ensure financial stability. There are several types of insurance relevant to the export-import industry, each catering to specific