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BMAL 590 LEGAL ENVIRONMENT OF BUSINESS EXAM QUESTIONS AND ANSWERS WITH COMPLETE SOLUTIONS
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BMAL 590 LEGAL ENVIRONMENT OF BUSINESS EXAM QUESTIONS AND ANSWERS WITH COMPLETE SOLUTIONS "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...

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  • October 7, 2024
  • 17
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

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BMAL 590 LEGAL ENVIRONMENT OF BUSINESS EXAM

QUESTIONS AND ANSWERS WITH COMPLETE

SOLUTIONS

"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).



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



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.

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