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BMAL 590 Legal Environment of Business Exam Questions and Answers 100% Pass
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BMAL 590 Legal Environment of Business Exam Questions and Answers 100% Pass "Glocal" - The trend of organizations that think globally but act locally Few, if any, companies can be called purely local. OECD - Organisation for Economic Co-operation and Development Countries - Whereas the resour...

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  • December 31, 2024
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  • 2024/2025
  • Exam (elaborations)
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BMAL 590 Legal Environment of
Business Exam Questions and Answers
100% Pass

"Glocal" - ✔✔The trend of organizations that think globally but act locally




Few, if any, companies can be called purely local.


OECD - Organisation for Economic Co-operation and Development Countries - ✔✔Whereas the

resources and capabilities to harness new technologies are available in the developed world, natural

resources are often found in emerging economies and developing countries.




More than a third of the world's population is in one continent - Asia. Just two countries, China and

India, account for nearly 2.5 billion people. It is not surprising that corporations look at these countries as

huge markets.


Exporting - ✔✔Export refers to sending goods produced in the firm's home country to be marketed in

other host countries.




Exports are governed by the laws of the home country (which may prevent certain goods and services

being exported) and those of the host country (which may prohibit some goods, restrict quantities,

impose customs and countervailing duties, and in some cases may impose anti-dumping duties).


Author. Katelyn Whitman, ©2025 All Rights Reserved.

,2|Page




Thus, firms need to study the fine print before getting into exports.




Exporting enables the firm to exploit economies of scale in existing facilities and reduces risk that may

arise out of having operations in another country.




Exporting becomes unviable to certain countries due to geographic distance and related transportation

costs, or where the other country imposes restrictions and/or high customs duties.


Other options in going global include: - ✔✔Licensing


Franchising


Joint ventures


Strategic alliances


Wholly-owned subsidiaries


Acquisitions


Licensing - ✔✔a firm in the host country manufactures goods under license to a company that is paid

royalties on the sales




Licensing is beneficial in low-tech sectors. In hi-tech sectors, licensing has the risk of losing valuable tacit

knowledge.


Franchising: - ✔✔common in industries such as fast food, coffee, and services




Author. Katelyn Whitman, ©2025 All Rights Reserved.

, 3|Page


Franchising works well in the services sector. The key is due diligenceand trust.


Joint ventures: - ✔✔firms enter into a co-operative arrangement with a firm in the host country, usually

with equity participation




Joint ventures are politically acceptable in most countries because they enable a firm in the host country

to upgrade its own capabilities. On the other hand, many joint ventures fail because of a breakdown in

trustbetween the partners.


Strategic alliances: - ✔✔co-operative arrangements for a specific purpose


Wholly-owned subsidiaries: - ✔✔the firm invests 100% of the funds required in the host country




Wholly-owned subsidiaries are beneficial from the firm's perspective. Most countries have limitations for

100% foreign investment except in sectors where the host country may be lacking or favors foreign direct

investment to leapfrog certain technologies.


Acquisitions - ✔✔the firm buys a going business in the host country


Going Global - Legal Challenges - ✔✔Businesses desire predictability. They are likely to invest in

countries where the rule of law is upheld and business interests would be protected as long as they

conform to the country's laws.


Firms going global need to be aware of law at two levels: - ✔✔Public International Law


Private International Law


Public International Law - ✔✔refers to the treaties, agreements, and protocols agreed to between the

governments of different countries. These could be bi-lateral (between two countries) or multi-lateral

(between several countries).


Author. Katelyn Whitman, ©2025 All Rights Reserved.

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